New Sources of Capital Emerging to Advance Public Radio and Others
In a first for noncommercial radio in the United States, three leading groups
- the Calvert Foundation, the Ford Foundation and Public Radio Capital -
announced the creation of the "Public Radio Fund" (PRF), which gives individual
and institutional investors an entirely new opportunity: a vehicle for
investing directly in public radio stations to promote independent, plural and
local public media ownership across the U.S.
We recently learned that the Ford Foundation has also engaged Nonprofit Finance Fund (NPP) to provide financial and business management guidance for this effort. NPP is headed by Clara Miller who was recently named to the Nonprofit Times Top 50 Power and Influence. The NP Times wrote, "She is arguably the most influential voice in the ongoing effort to reshape thinking and practice about nonprofit capitalization."
What's important about this story is not necessarily a new investment vehicle or Public Radio as much as the fact that a new breed of thinkers (add NPP's George Overholser to the list) is tapping new sources of capital needed to take innovative efforts in the Nonprofit Sector to the next level.
Posted at 10:58 AM, Sep 27, 2006 in Scaling Philanthropy | Permalink | Comment