Impact Investing

The Foundation is embarking on a new venture as we work to meet community needs: impact investing. Through this program, we invest in organizations, intermediaries, and companies, with the goal of generating measurable social impact as well as financial return.

Impact investing is about aligning financial investments with mission. We believe it is a powerful tool that allows us to deploy more of our capital to benefit Rhode Island and support larger scale and/or different kinds of projects than we typically do through our grant programs. These investments can build capacity in organizations and leverage other resources.


We support projects that are local and place-based, and will yield a direct impact for Rhode Island, primarily in our strategic initiative areas: educational success, healthy lives, and economic security.

We are looking for strong partners who, most likely, will:

  • have three years of operating history,
  • be cash flow positive or show a strong trend line towards cash flow positive,
  • have evidence of strong collateral,
  • have demonstrated an engaged and competent governance structure and management team, and
  • have a track record of strong social outcomes within Rhode Island. 

We will consider both debt and equity opportunities. There must be a clear path to repayment/return, and investments must demonstrate social impact with measurable outcomes. 

Investments will range between $200,000 and $2,000,000. Terms generally will be no longer than ten years.

Individuals are not eligible.

Application Process

Interested nonprofit organizations, for profit companies, and governmental entities should submit a preliminary application form that provides basic information about the project. 

If your project is selected to advance, we will ask you to complete a full application and supporting materials. At that point, our team will work with you to complete our due diligence and structuring, including reviewing the proposed outcomes and plan for measurement, business prospects and financial conditions, organizational capacity, potential risk, readiness, and fit with the Foundation’s portfolio.

The Foundation’s board of directors has created an Impact Investing Committee. The committee will vet all deals, which will be approved by the Foundation’s Board of Directors.


LocationOne Union Station
Providence, RI 02903


(401) 274-4564

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