Workouts & Turnarounds with speakers
Christine Looney, The Ford Foundation; Joshua Mintz, John D. & Catherine T. MacArthur Foundation; Doug Smith, Rocky Mountain Mutual Housing; Lori Chatman, Enterprise Community Partners; and moderator Debra Schwartz, John D. & Catherine T. MacArthur Foundation.
PRIs are great philanthropic tools, but what happens when these high risk investments go bad? This session is designed for PRI makers to discuss how to identify problem investments and what issues to think about when dealing with workouts and turnarounds. The panelists will discuss actual situations and be available to answer general and specific questions. Through a series of case studies, session participants will be exposed to topics including: identifying trouble signs, the role of covenants, managing boards of directors, collaborating with other funders, negotiating with other creditors, how to make hard decisions, your rights and responsibilities in the bankruptcy process, internal policies to manage your PRI portfolio- PRI Makers Network
Christine Looney is a Program Investment Officer at Ford Foundation.
Joshua Mintz is an organizational development consultant who specializes in working with the NGO sector.
He is partner in the consultancy firm Cavanaugh, Hagan, Pierson & Mintz where his practice focuses on nonprofit management and leadership issues.
Debra D. Schwartz is Director of Program-related Investments for the John D. and Catherine T. MacArthur Foundation where she oversees a $300-million portfolio of below-market loans and investments used principally by economic development and affordable housing organizations. She also co-leads the Foundation’s $150-million national initiative, Window of Opportunity: Preserving Affordable Rental Housing.
Schwartz joined MacArthur in 1995 as Senior Associate to the President. She became a member of the Program on Human and Community Development in 2000 and assumed her current post in 2002. Previously, Schwartz was an investment banker in public finance for John Nuveen & Co. where she structured tax-exempt bond issues for municipalities and nonprofit health care organizations. From 2002 through 2006, she served as one of nine presidential appointees to the US Treasury Department’s Community Development Advisory Board. She is a founding member of the national PRI Makers Network steering committee and frequently speaks at philanthropy-related meetings on the topics of social enterprise, nonprofit sustainability and program-related investments.
Schwartz graduated summa cum laude from Yale University with a Bachelors degree in history. She earned a Masters degree in finance and nonprofit management from the Kellogg Graduate School of Management at Northwestern University.
Doug Smith is the President and CEO of the Rocky Mountain Mutual Housing Association.
Founded in 1992, Rocky Mountain Mutual Housing Association (RMMHA) owns and operates 1,032 affordable apartments throughout Colorado, providing quality housing options for lower-income families and individuals. In addition to housing, RMMHA offers a wide array of services and opportunities, including computer training, after-school programs, and home ownership programs.