MCF Makes Impact Investing Easier with PRI Templates

Friday, November 20, 2020

In 2020, MCF’s impact investing work continues to expand with new member programs and services.

New this fall, MCF is offering templates for Program Related Investment (PRI) documents. The templates of commonly used documents are available for use by MCF members incorporated as private foundations including independent foundations, family foundations, and private corporate foundations. The documents are intended to meet the needs of investments structured as PRIs, with minimal modifications. MCF is offering these templates, for a small fee, to MCF members. Contact Paul Masiarchin to get copies of the documents. Or contact Susan Hammel to learn if these documents are right for you.

  • PRI Cover Memorandum Template: Explains how to use the forms, basic explanation of PRI rules and legal disclaimer.
  • PRI Loan Agreement Template: Includes business terms between the foundation and the borrower, including all the language that supports this being a PRI.
  • PRI Promissory Note Template: Includes the formal loan instrument.
  • PRI Borrower’s Corporate Certificate of Authority Template: Offers a standard officer’s certificate that addresses corporate documents and authority to sign the loan documents.

Throughout 2020, MCF continues to host the Minnesota Impact Investing Initiative (MI3), a fixed-income bond fund; the Impact Investing Network, which convenes peer learning conversations; the Integrated Capital Recovery Program, a comprehensive strategy to direct funds to BIPOC nonprofits and small businesses; and the Executive in Residence staff support for member questions about impact investing.

MCF thanks the legal team at Lathrop GPM for guidance in creating these templates.