Our Impact Investment Strategy
Waters Meet Foundation is aiming to achieve our 2034 goal thanks to a combination of broader mission-related and narrower program-related investments.
Mission Related Investments (MRI)
MRIs are market-rate, financially prudent investments that also further the foundation’s charitable purpose.
MRIs are expected to be aligned with the mission of Waters Meet and designed for maximum financial return, so the level of impact generated likely will not be as high as Program Related Investments (described below). This portion of the impact investing strategy may be considered mission-adjacent or values-aligned, with different impact expectations than the more directed PRI portion.
Given our goal of 100% of assets invested towards our mission, it is our expectation and intention that all new investment strategies and commitments shall fall under one of the above (or related) strategies. Specifically, Waters Meet will give precedence to deploying its investment capital in alignment with specific themes to drive sustainable social impact:
Capital Investment Themes
- Regional investment that aligns with Waters Meet’s impact initiatives and grantmaking strategy under Equity Healing Framework.
- Investments with a direct influence on social determinants of health, encompassing housing, education, and economic development.
- Investments facilitating equitable access to capital investment markets.
- Investments directly contributing to climate justice.
Program Related Investments (PRI)
PRIs are below-market-rate investments with a primary purpose of furthering the foundation’s charitable purpose.
Since PRIs are made primarily for the programmatic purpose, they typically generate higher levels of impact than MRIs. PRIs can be made with grant funds or from endowment capital. Regardless of the source of funds, PRIs count towards the 5% required payout of a private foundation. MRIs are made with endowment capital and do not count towards payout.
PRIs will align with the Foundation’s mission of advancing health equity in the Inland Northwest by pursuing innovative solutions and transforming systems to improve health and quality of life. PRIs are not intended to replace grant capital, but rather are an additional philanthropic tool that Waters Meet can utilize to broaden our impact on behalf of the communities we serve.
PRI Definition from the IRS
- The primary purpose of the investment must be to further one or more exempt purposes of the foundation.
- The production of income or the appreciation of property may not be a significant purpose of the investment.
- No electioneering and only very limited lobbying purposes may be served by the investment.