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Ford Foundation Annual Report 1984







Program-Related Investments

Since 1968 the Foundation has invested a portion of its capital funds in enterprises that advance philanthropic purposes. These program-related investments usually take the form of low-interest loans and support projects for which commercial financing is not available. To date the Foundation has made 148 pris totaling some $102 million. This year approximately $10.3 million was committed (see list).

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Among the projects assisted were a job-creation and job-training program in Detroit (see page 3); two loan funds to help refugees start or expand small businesses, one in Portland, Oregon, the other in Miami (see page 15); a capital fund that will enable nonprofit housing groups to increase the availability of low-income housing for the rural poor (see page 27); and establishment of a communications network among nonprofit organizations that would, among other things, reduce long-distance telephone costs.

PROGRAM-RELATED INVESTMENTS Approvals Invested or Guaranteed
Program-related investments are capital funds invested in socially important enterprises in various fields of Foundation interest. Investments approved in fiscal 1984 are listed below, along with earlier-year commitments on which there were disbursements during the year. The "Approvals" column shows amounts committed and the "Invested or Guaranteed" column shows amounts loaned, invested, or guaranteed in fiscal 1984.
1984 Approvals
URBAN POVERTY
Asian, Inc.
(San Francisco, Calif.)
Condominium project for Asian American small businesses 1,500,000
Bay Area Residential Investment and Development Group (San Francisco, Calif.)
Low- and moderate-income housing development 750,000
Downriver Community Conference (Southgate, Mich.)
Small-business investment and employment project Seven-year loan, 7% 2,000,000 900,000
Haitian Task Force (Miami, Fla.)
Small-business development 450,000
International Refugee Center of Oregon (Portland, Ore.)
Loan fund for refugee entrepreneurs Seven-year loan, 5% 500,000 170,000
National Housing Law Project (Washington, D.C.)
Legal assistance to nonprofit housing developers Five-year loan, 5% 750,000 500,000
Trust for Public Land (New York, N.Y.)
Site acquisition for community organizations Five-year loan, 5% 1,000,000 500,000
HUMAN RIGHTS AND SOCIAL JUSTICE
National Council of La Raza (Washington, D.C.)
Development of Hispanic-oriented television programming Five-year loan, 8% 300,000 300,000
RURAL POVERTY AND RESOURCES
Housing Assistance Council (Washington, D.C.)
Development of low-income housing 2,000,000
Local Initiatives Support Corp. (New York, N.Y.)
Economic development in eastern North Carolina Seven-year loan, 5% 300,000 300,000
OTHER
Telecommunications Cooperative Network (New York, N.Y.)
Working capital for communications network among nonprofit organizations 700,000
Subtotals $10,250,000 $2,670,000