What is a PRI?
PRIs are charitable, mission-aligned investments which are unique to philanthropy. At The Endowment, a typical PRI takes the form of low-cost financing and loans, which require repayment within a specified time.
Who is eligible for a PRI?
While the IRS allows a variety of uses for PRIs, The California Endowment makes PRIs based on its PRI strategy and approach. The typical recipient of a PRI from The Endowment is a mission-aligned community development financial institution (CDFI) or other type of intermediary working in California.
We are a grantee of The Endowment. How can we receive a PRI, too?
The Endowment works with intermediaries, who are deeply rooted in communities and have specialized expertise in areas such as affordable housing, small business, fresh food, etc. We encourage you to work with a local CDFI partner in your community.
Are your Impact Investments limited to California?
The Endowment’s PRIs are primarily focused in California although we do consider investments with national significance that fill gaps and build the field. We invest our MRIs nationally.
Does The Endowment collaborate on investments?
Yes! By working alongside other institutional investors that are authentically using impact as part of their investment theses, we join our peers in the movement to address the inequitable access to capital among low income communities, women and people of color. We hope this movement can significantly influence financial markets more broadly for social change.

Building Trust and Equity: What The California Endowment Has Learned from Over a Decade of Impact Investing

A Resolution for Philanthropy in 2024: Embark Upon and Deepen your Impact Investing Journey

Leveraging Foundation Balance Sheets for Greater Impact: Piloting a Pooled Guarantee Program


The Power of Coalition-Building: Confronting Racial Inequity in Small Business Lending

Philanthropy for Outsized Impact: The Power of Program-Related Investments

Impact Investing for Health Equity – Lessons from The California Endowment’s ACA and Prevention Program-Related Investments
