PRI Review Committee


PURPOSE

Venn Foundation’s Board of Directors created the PRI Review Committee to assist the Board in fulfilling its review, approval, and oversight responsibilities related to Program-Related Investments (PRIs) made by Venn Foundation.

STRUCTURE

The PRI Review Committee is comprised of one or more Review Teams.  Each Review Team has its own unique Team Charter that names the PRI Deal Stream(s) for which it has responsibility and, for each, provides a reference to the related Deal Stream Directive that describes the purpose, guidelines, and process for the Deal Stream. 

REVIEW TEAMS

Currently, the PRI Review Committee has three Review Teams which oversee a total of five Deal Streams across three program divisions:

  1. Social Enterprise Division
    This review team helps administer Venn’s oldest, largest, and most diverse PRI program, which focuses on driving concessionary capital to nonprofits with earned revenue models, businesses with formally declared social corporate purposes, and businesses that are advancing charitable impact.

  2. Technology Transfer Division
    This review team reviews and approves PRIs that helps universities and other public research institutions de-risk promising discoveries coming out of their research laboratories so they can be licensed and ultimately get to market for the benefit of the public. Venn is piloting this model with University of Minnesota (UMN) Technology Commercialization, but Venn aspires to see it made available to any university or research hospital.

  3. Minnesota Afterschool Advance
    This review team focuses on PRIs that assist low-income families in utilizing the Minnesota K-12 Education Tax Credit (Tax Credit) to pay for qualified educational expenses, especially academic afterschool activities, for their eligible children. 

Committee Members