Barberton Community Foundation strives to serve as a catalyst for community investments that contribute to the health and vitality of the Barberton economy and to those living and working in Barberton. The Foundation makes Program Related Investments (PRIs) in order to stretch our financial resources, enhance our philanthropic impact, and implement our economic and community development goals.
Unlike grants, scholarships, and other foundation programs that help us invest in the future of Barberton, PRIs are generally made in the form of deposits, loans or equity investments and are expected to be repaid. Each investment requires professional due diligence with the goal of balancing risk, return, and mission impact. Once repaid, PRIs are reused for other charitable purposes.
Federal regulations list three characteristics that distinguish PRIs from traditional foundation investments:
- The Foundation’s mission is the primary motivation.
- Generating income is not a significant motivation.
- PRIs cannot be made with intent to influence legislation or a political election.
- Barberton Community Development Corporation Program PRI Loan Fund
- Neighborhood Conservation Services PRI Program (NCS PRI Program)
- Real Estate Investments
- Foundation Innovation Growth Fund with Barberton Community Development Corporation
- Neighborhood Development Corporation (NDS) PRI Loan Fund for The Highlands re-development