Social Enterprise Financing: How Foundations Can Use Grant Money as Seed Capital to Spark the Next World Changing Idea (and How to Make It Easy!)
Want to have a hand (or help foundations have a hand) in building a robust sector of the most innovative, high-potential, and scalable social enterprises? Program-related investments (PRIs) are an exciting tool foundations can use to make that possible - and still have it count towards their charitable distribution requirement. They're the perfect tool for sparking and scaling new ideas, and are surprisingly easy to make. This webinar will walk participants through an educational primer on PRIs, including a dive into the tool's history and intent (likely broader and bolder than you may have heard in the past), current landscape and trends among other foundations, general legal framework and guidelines, and simple ways to start making them (including operational support, legal assistance, and finding the right recipients). Complete with Q&A to your heart's content.
Some backstory: Much misinformation on program-related investments (PRIs) has been disseminated over the years -- namely, that they are too risky, or too complicated, or too expensive to be worth foundations' while. Nicole Motter's work is focused on debunking these myths and making PRIs accessible. They're only complicated or expensive if you ask people who aren't familiar with the breadth and depth of the field, because it takes such people large quantities of time (generally at very high hourly billing rates) to gain enough of a proficiency to pull it off (or, more commonly, fumble through it). PRIs are the single best tool to spark and scale new ideas in existing in social enterprise form. There is a gap in the market in terms of what social entrepreneurs with high-potential ideas need -- the gap between grants and venture capital money. PRIs (i.e., grant money used as seed capital for mission-aligned purposes) are the key to allowing new ideas to take flight, building a robust (for-profit, mission-grounded) social enterprise sector, and putting a much bigger dent in the issues we care about. As one of the leading PRI experts, advisors, and lawyers in the country, Nicole has done extensive research on the current landscape, activity, and trends among other foundations in an effort to shed light on this topic and to inspire more foundations to work PRIs into their toolbox. Coming from a place-based (less scalable) background in nonprofit community and youth development, she has a unique perspective on how and why this tool needs more use.
About the presenter...
A career change maker, Nicole Motter is an attorney and strategy consultant with Cutting Edge Capital, and the founder of Social Innovation Strategies, a legal and consulting firm focused on helping foundations use their grant money towards a more exponential, high-impact model of social change. After spending nearly a decade working in nonprofits digging deep into her social problem of choice, Nicole went to law school to figure out how to make bigger change happen on a larger scale. There she discovered the concepts of social enterprise, which lit a new flame within her. She has since cultivated a career that combines her expertise in ground level program development and implementation, research and education, and corporate and impact investing law. Her work focuses on cultivating mission-grounded, investment-ready social enterprises, helping foundations better understand PRIs and facilitating transactions, and -- more broadly -- translating ideas into action. She's been incredibly fortunate to be a Forbes guest contributor on PRI and other impact-related topics, and to work with some of the most high-impact, nationally-acclaimed social enterprises and foundations in recent years.