Social Venture Forum
News of a Chicago Social Venture Forum at University of Chicago from long-time colleague Linda Darragh at Booth.
In 2010, Chicago Booth teamed with the Foundation Source to launch the first-of-its-kind Social Venture Forum, which aims to offer private foundations new opportunities and techniques for social enterprise investing. Foundations learn how to further their social mission while generating financial return by deploying philanthropic capital in innovative ways. If your social venture seeks funding, we encourage you submit an application to the Chicago Social Venture Forum. Please see the application and rules (PDF). All submissions are due to Erika Mercer [ Erika.mercer AT chicagobooth.edu ]by September 20, 2010.
Learn more at the Polsky Center.
To link family foundations who want to invest part of their available funds with social ventures that meet the eligibility criteria of a ‘charitable investment’ or Program- Related Investment (PRI)
Deadline:September 20, 2010 1:00 pm
E-mail application form to Erika.mercer@chicagobooth.edu
Target Entity
For-profit social ventures and revenue-generating non-profits that can show their ability to pay back a PRI
Location:
North east Illinois
Type of Investment
Loans (senior and subordinated) or equity investments
Size of Investment
Preferred $250,000, maximum $500,000
Purpose of Investment:
To acquire property; reach scale; create jobs, products or services; or approach self-sufficiency*
Eligible Activities
:Accomplish medical, scientific, literary, charitable and educational purposes.**
For the private foundations considering funding of social ventures, no significant purpose of the investment is the production of income or the appreciation of property.**
* Defined by the Internal Revenue Code § 170(c)(2)(B)
** Source: PRI Network, http://www.primakers.net/about/faq
Disclaimer:
The Chicago Social Venture Forum (CSVF) is not representing or implying that an investment in any of the applicants would automatically qualify as a PRI. Each foundation would need to undertake its own due diligence to satisfy itself that the PRI criteria for a particular investment had been met. The application process is meant to help filter out inappropriate investments, not to pre-qualify PRI investments.
The Chicago Social Venture Forum (CSVF) is not making an implied or actual promise to any applicant that a foundation will follow through and make an investment (PRI or “straight up” investment) in the applicant as a result of the application. The foundation will carry out its own due diligence after the forum, if interested.