Nathan Cummings Foundation Program Related Investment (PRI)

Overview

_NOTE:_

* _Applications will be reviewed on a rolling basis._
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Nathan Cummings Foundation

We are a multigenerational family foundation, rooted in the Jewish tradition of social justice, working to create a more just, vibrant, sustainable, and democratic society. We partner with social movements, organizations, and individuals who have creative and catalytic solutions to climate change and inequality.

Our Approach + Focus

From our grants, to our investments, to our voice we are using all of our resources to advance our mission. We are committed to changemaking, not just grantmaking.

* Investing in Bold Leaders: Our partners are courageous leaders willing to work in innovative ways, forge powerful alliances, and push breakthrough ideas that make the “impossible” possible.
* Using All of Our Assets: We use a ‘totality of assets’ approach, meaning we leverage the full power of the foundation’s financial and non-financial assets for impact.
* Leveraging Our Voice: We leverage our voice and influence to amplify the voices and goals of our partners.

We believe the dual crises named in our mission (inequality and climate change) cannot be addressed without first addressing their root causes and oppressive manifestations. That’s why we are focused on the long-term and interconnected goal of advancing racial, economic, and environmental justice (REEJ).

Environmental Justice

Environmental justice is the right of all people and communities to a clean, healthy, and safe environment. It promotes equal environmental protection under the law and in fact. It empowers all communities to make informed decisions and fully participate civically and economically in the creation of environmental solutions.

Focus Areas

To advance environmental justice, we support organizations that address the following focus areas:

* Environmental Harms: BIPOC and low-income communities are disproportionately harmed by environmental hazards. We focus on efforts to prevent and repair these environmental disparities and ensure the affected communities can meaningfully engage in forging solutions.
* Inclusive Participation in the Green Economy: A Green Energy transition is well underway, but the economic opportunity that goes along with it is not distributed equitably. We focus on efforts to ensure that BIPOC-led environmental organizations and diverse companies can fully take advantage of the investments, benefits, and opportunities of the Green Economy.
* Regenerative Economic Models: Achieving environmental justice and addressing climate change requires a shift from extractive to regenerative economic models. We focus on social entrepreneurs and innovators who are building regenerative projects and models based on sustainability, ecological restoration, and community wealth-building and resilience.

Racial Justice

Our vision for racial justice is the removal of structural barriers and hierarchies based on race. It seeks to reimagine political, economic, and social systems in ways that allow all people to thrive, regardless of their racial identity.

Focus Areas

To advance racial justice, we support organizations that address the following focus areas:

* Civic Engagement: BIPOC and other marginalized communities face long-standing and concerted efforts to restrict and suppress their participation in the public sphere, especially in civic processes. We support efforts to ensure these communities have the access and capacity to participate freely in shaping the policies, practices, and institutions that impact their everyday lives.
* Racial Wealth Gap: As a product of centuries of policies and practices, extreme racial wealth inequality persists in the United States, especially among Black communities. We support efforts to repair this harm, build wealth, and address the root causes of the racial wealth gap.
* Racism + Oppression: White supremacy is at the root of our society’s most unequal systems, institutions, and policies. We support efforts to build the infrastructure and capacity necessary to create systems that are free from oppression and allow us all to thrive.

Economic Justice

Economic justice means that everyone has opportunities to participate and thrive in the economy, including those who are marginalized by our current economic systems. The principles of economic justice create a stronger economy because prosperity and equity go hand in hand.

Focus Areas

To advance economic justice, we support organizations that address the following focus areas:

* Economic Security: Economic security is a necessary baseline for people to survive and thrive, especially amidst conditions of rising inequality. We support efforts that systemically mitigate economic precarity and secure a path to a more stable future for poor and low-income people.
* Access to Capital: Generations of discriminatory lending and investment practices have prevented BIPOC and women from accessing the capital required to bring their innovative ideas to the marketplace and profit from them. We support efforts to provide more access to capital for historically excluded entrepreneurs and to cultivate an ecosystem in which they can prosper.
* Monopoly Power: Monopoly power drives many of the corrosive and pressing problems in our political, economic, and social systems. We support efforts to decrease corporate power and create a level playing field for workers, marginalized communities, and small businesses.

Program Related Investment (PRI)

Just like grants, PRIs must advance the foundation’s mission and accomplish one or more of the foundation’s tax-exempt purposes. Also, like grants, PRIs must not be used to influence legislation or take part in political campaigns on behalf of candidates.

Unlike grants, PRIs are made with the expectation that some or all the capital will be returned to the foundation in the future, according to terms that the foundation and the PRI recipient agree to. That said, we do not make PRIs for the purpose of financial gain. Therefore, we may be able to structure financing with more favorable and flexible terms than a traditional financial institution would.

We will consider PRIs in a variety of forms, including debt and equity instruments.

Funding

Our target budget for funding program-related investments is approximately $3 million.

Eligibility

_You can learn more about this opportunity by visiting the funder's website._

* We support organizations based in the United States and U.S. Territories. 
* We will award PRIs using the following criteria: 
* Alignment with one or more NCF focus areas
* Alignment with NCF’s values, including a commitment to diversity, equity, and inclusion
* Ability to return capital according to agreed-upon terms
* Ability to provide agreed-upon impact data to evaluate progress in NCF focus areas
* Inability/difficulty obtaining sufficient capital through conventional financial institutions
* Opportunity for learning that enhances the work of NCF and its partners
* Opportunity to catalyze action and investment from others
* Opportunity to demonstrate and amplify successful models and approaches that may be overlooked or underutilized by traditional sources of funding

Ineligibility

* We are not currently accepting proposals for work in the Israel-Palestine region as we are still refining our strategy for that geography, but we will share more later this year about funding opportunities.
* The following are ineligible for financial support:

* 501(c)(4) organizations 
* Individuals 
* Requests outside the United States and U.S. Territories.
* Social or direct service projects that are not a part of a larger advocacy strategy.
* For example, we do not support direct services (e.g. cash transfer, work development programs, food and education services, housing assistance, etc.). 
* Fundraising events, sponsorships, panel requests, or galas 
* Campus or prison-based programs
* K-12, extra-curricular, religious, or community arts education programming 
* Religious communities, congregations, and churches
* Community gardening and greening projects
* Conservation projects 
* Projects addressing diseases including medical research, personal health, and wellness programs