What are the challenges that foundations should keep in mind?
Lewis: Imagine a nonprofit that would like to own its own building because over time, it makes more economic sense than renting. But it may be challenging—especially in the current climate—for the nonprofit to accumulate the capital to purchase the building. Now imagine that the nonprofit can approach its donors to make a business case for owning rather than renting. Of course, the nonprofit needs to demonstrate it will have the income to pay back the PRI maker, but presumably, under the rent scenario, it would have to spend some portion of its operating budget on rent. Foundations wishing to make PRIs have to consider projects where there is a reasonable expectation the loan will be paid back. My view is that those cases may be more prevalent than most funders imagine.
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- What are the challenges that foundations should keep in mind?
