Times however are changing.  National securities markets are faltering, interest rates hover near zero, returns on public equities are often negative and government’s ability to handle the big local infrastructure projects has been stopped in its tracks with plummeting tax revenues.

The result is a downward spiral that has compromised nonprofits and foundations from achieving even modest project goals and that combined with government funds drying up are leaving local communities with nowhere to turn.  In fact, local governments are increasingly applying to foundations for grant funding to facilitate public projects and programs.

A possible solution may lie in the concept of Program Related Investing (PRIs) in which foundations invest some of their assets (for modest or no earnings return) in local community infrastructure projects.  As opposed to philanthropic grants PRI investments would be made under terms that returned at least the principal over a defined period of time.  PRI investment opportunities would, at a minimum, be evaluated to insure the return of principal and backed with tangible assets to ensure satisfactory return in the case of default.

The power of PRIs as an option for community foundations is evident in the following factors:

• Invested assets stay and circulate in the local community ting the project and boosting the local economy.
• Use of invested assets and project progress can be monitored in a timely and direct manner.
• Risk assessment can be more comprehensive and can be adjusted in a timely manner.
• Investment evaluation and management creates local jobs.
• Rapid mitigation is possible for changes and exigencies to preserve the project and investment.

PRIs could be structured in a variety of ways including direct investments, purchase of bonds, direct loans or indirectly through the establishment of a nonprofit community financial institution such as a cooperative or community bank.

PRIs are sometimes termed “Mission Related Investing” reflecting the concept that investing in local programs are often directly related to the foundation’s core mission and thereby using its assets to further the fundamental goals of the organization.

You may want to read more about Program Related Investments at one of the following web sites:

• www.primakers.net
• http://primakers.net/node/4658

Or Google: “Program Related Investments” or “Mission Related Investments”

If you are interested in working on or investing in a Community Foundation effort to explore the development of a local PRI program please call the office at (360) 378-1001 or email at info@sjicf.org and ask for the executive team and mention your interest in PRIs.

Friday Harbor Food Bank, $2000.00, for immediate funding for operational needs; Senior Services Council, $1500.00, for immediate funding to cover a shortfall for the In-Home Assistance RN Coordinator’s salary; SJI Family Resource Center, $1000.00, for the Read to Your Child 20 Minutes a Day program; SJI EMT Injury Prevention, $1200.00, for participation of the Air Lift and Medical Center organizations for Every 15 Minutes education; SJICF Scholarship Fund, $1200.00; for three San Juan Island people for Certified Nurse’s Assistants (CNA) career training scholarships; STEAM Arts Initiative, $1200.00, for art supplies; Dollars for Scholars $100.00, for website development; and SJI Community Foundation, $1300.00, General Operation Fund.

The WF is comprised of more than 80 individual women, each of who donate at least $100.00 per year for philanthropic purposes. The WF reviews grant proposals from non-profit organizations before voting to award money. San Juan Island women have been pooling their resources for more than eight years.

The WF is committed to educating and expanding the pool of women engaged in philanthropy; combining and building women’s resources to make a significant impact in our community; and increasing awareness of important issues facing San Juan Island nonprofit organizations. New members are welcome. Women may choose to be active on a committee, or simply vote in the annual election, which took place this year via Survey Monkey, an online tool that protects privacy and allowed 60 members to vote from home.

The WF is a Pooled Donor Advised Fund of the San Juan Island Community Foundation.

The San Juan Island Community Foundation serves as a non-profit philanthropic umbrella organization helping donors, non-profits and public organizations to achieve their goals through direct grants, organizational assistance and philanthropic resource management.

John’s brightly colored Cessna was a frequent sight in our skies. He was active in Angel Flight, and was a founding member of the San Juan Eagles, a volunteer group of local pilots who fly cancer patients to the mainland for treatment. As the president of the San Juan Pilots Association, John was active in addressing aviation safety concerns throughout the region. And he regularly used his own airplane to transport his wife, an EMT instructor, throughout San Juan County, so she could ensure that each island had well-trained medical staff.

The goal is to honor John’s memory by encouraging others to follow his example, and by giving them the tools to do so.  In pursuit of this goal, the San Juan Pilots Association has established the John Volk Memorial Scholarship Fund at the Community Foundation to provide financial assistance to students pursuing a career in aviation related field.

Your gift will help local students get a start on an aviation career.

The fund distributes its earnings annually to the Friday Harbor High School music director to be used by them for the most pressing needs.  These have largely gone to the purchase and maintenance of instruments and sound equipment used by our students.

Your gift will help our local school’s music programs.

Scholarship awards are open to San Juan Island residents of all ages who intend to pursue their new career locally. For at least the 2012 calendar year and, in anticipation of the new employment opportunities that will result from the opening of the PeaceHealth Peace Island Medical Center (expected in December 2012), the emphasis for career training scholarships will be on healthcare careers. In spite of this emphasis, there is no guarantee of employment as a result of any financial assistance offered.  Exceptions to the healthcare emphasis will be considered on an individual basis.

Your gift will help island residents prepare for a new career right here at home.