Greg Ratliff and Lisa Richter, GPS Capital Partners, give an overview of program-related investments (PRIs).
Together with a panel of PRI experts, they engage participants around topics such as: what are PRIs and why should I use them? how could PRIs be used effectively by my current grantees? how will PRIs impact our programmatic outcomes? how will PRIs impact my small, already overworked staff? how will PRIs impact my balance sheet? what is mission-related investing?
This seminar precedes the PRI Institute, a new forum and intensive training designed for grantmakers who are already engaged in the productive use of program-related investments (PRIs) or who are committed to learning in detail how to develop and implement a philanthropic strategy that includes PRIs.
Greg Ratliff is a leading authority in the field of community and economic development and a seasoned advisor to the U.S. philanthropic community. A pioneering thought leader in the field in the early 1990s, Greg's consulting practice has focused on strategic planning for innovative business models blending financial and social returns.
Greg advises major foundations and nonprofit organizations from concept through implementation on top level strategic planning, board development and program creation. Selected clients include Annie E. Casey Foundation, the Ford Foundation, Heron Foundation, Rockefeller Foundation, Northwest Area Foundation, Shorebank Corporation, and the Aspen Institute. His practice includes significant work in the field of Community Development Financial Institutions, (CDFIs) and he currently serves on the team implementing the CDFI Assessment and Rating System (CARS), an evaluation tool designed to increase the transparency of CDFIs for institutional investors by providing a rigorous third party assessment of financial and social investment returns.
Greg also recently completed research into business models for expanding the scale and sustainability of operations of CDFIs and other public purpose businesses. The findings were published by the Federal Reserve Bank of Chicago in Profitwise (December 2004).
Prior to his consultancy, Greg spent ten years at the John D. and Catherine T. MacArthur Foundation where he directed and managed a $15 million grant program and a $190 million portfolio of program related investments. During his tenure, both ventures broke new ground for MacArthur in the area of creating economic opportunity. Greg received a BA from UCLA and an MBA from Northeastern University, where he combined graduate work in Urban Studies at MIT.
Lisa Richter has 20 years of experience with ShoreBank Corporation, leading initiatives to increase the practice of social investing, equity and debt underwriting, structuring collaborative investments, asset building financial services market research and social impact measurement. Through early 2006, Lisa led ShoreBank's fund management of the National Community Investment Fund, a national CDFI that placed over $20 million of program related investments in development banking institutions and received grants for industry innovation and impact reporting from Ford, MacArthur, Casey, Fannie Mae, Heron, and National Credit Union Foundations.
As a Senior Managing Director of ShoreBank Advisory Services, Lisa assisted foundation, bank, government, and community-based clients to create or expand development banks and initiatives in urban, rural and reservation communities throughout the U.S. Prior to that, Lisa was a vice president of ShoreBank Chicago focused on raising resources nationally from institutional and individual social investors, including program related investments from foundations. Initial consultancies include Ford and Annie E. Casey Foundations as well as Bank of America and another of the nation's largest banks interested in expanding community development lending and philanthropic collaboration. Lisa received a BA and an MBA from the University of Chicago.