There are times when nonprofits have opportunities to expand services, move, or improve their operations. They often have a need for “bridge funds” until expected revenue streams become active. In these situations, a nonprofit can benefit from a low-interest loan instead of, or in addition to a grant. The Foundation will consider requests for Program Related Investments (low-interest financing) for projects that meet general funding criteria. Program Related Investments are made for five years and carry an annual five-percent interest on the unpaid balance. This strategy allows the Foundation to provide necessary funds for short term use and as these funds are repaid, recycle them to meet other funding needs.

Those involved in building affordable housing around the state can often benefit from this kind of financial support. The Central Community Housing Trust based in Minneapolis and the Greater Minnesota Housing Fund based in St. Paul are two examples. The Otter Tail-Wadena Community Action Council based in New York Mills used funds to finance new housing in rural communities.

In northern Minnesota, the Aitkin County Daytime Activity Center received a program related investment to expand the worksite and services offered to train persons with developmental disabilities for jobs