In 1968, the Ford Foundation began to fund minority enterprise and other social investments using a new tool, the Program-Related Investment (PRI). The breadth of activities that PRIs funded extended to both inner city and rural environments.
How the largest US foundation began supporting market-based projects in the late 1960s.
In the fall of 2020, the Rockefeller Archive Center launched a new oral history and research project called Investing in the Good: Program-Related Investments and the Birth of Impact Investing. Directed by Dr. Rachel Wimpee, the assistant director of Research & Education at the Archive Center, the oral history project will include interviews with pioneers in the field. The book, coauthored by Wimpee, Eric John Abrahamson, and Alec Appelbaum will be developed as a resource for professionals and students in the fields of philanthropy, nonprofit management, and public policy.
Rachel Wimpee is Assistant Director of Research & Education at the Rockefeller Archive Center. She holds an interdisciplinary PhD in French literature and French studies, with research interests in gender, cultural representation, and the role private giving plays in social change.
Recently published reports draw on the records of the Ford Foundation, the International Education Board, the Rockefeller Foundation, the Simon Flexner APS microfilm collection, and the Office of the Messrs. Rockefeller, along with the papers of Laurance S. Rockefeller.
In this month’s edition of the series, the authors have used the records of the Medical Letter, the Rockefeller Foundation, and the Rockefeller University, along with the papers of Donald R. Griffin and Detlev W. Bronk.