THE PACKARD FOUNDATION’S CORE BELIEFS ABOUT THE VALUE OF MISSION INVESTMENTS
1. The PRI program’s first priority is to increase impact. Mission investments, and PRIs (Program Related INvestments) in particular, can magnify the impact of a grantmaking strategy. Program alignment ensures PRIs support the Foundation’s goals and grant activities. PRI opportunities cannot move forward without a program officer sponsor, who agrees to assess alignment with program strategy and provides industry expertise to better evaluate impacts.
2. Sector expertise is essential to assess impact. The Packard Foundation believes impact assessment demands as much rigor as financial assessment, and rigor requires sector
or industry expertise. Deep knowledge of a sector enables the Foundation to assess the nuances of a deal’s impact. As the first stage of deal vetting, the Foundation asks program
officers to assess a deal’s impact and sponsor all investments.
3. The Packard Foundation’s investment can signal a deal’s high potential for social and environmental impacts. The Foundation’s commitment to impact and deep sector
knowledge can reassure others that when it invests, a deal has great potential for impact. The signaling value of its investments can help attract other sources and types of investor
capital. As a lead investor over time, Foundation staff can also be guardians of impact to help prevent mission drift