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Program Related Investments


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We do not make 

"grants" but instead 

make "Program 

Related Investments." 
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PRIs as implemented by the Harmon Foundation
 are low-interest loans to charitable organizations. 
A great deal of useful information about Program 
Related Investments, and how other foundations 
(as well as businesses) are involved 
can be found at this link:



For our current PRI Form request it from:


Why would a charity want a low-interest loan? 
Most charities borrow money. A really good reason to borrow is that pledges to a capital campaign are payable over years and borrowing enables construction to begin much sooner. When inflation is high, getting the building out of the ground and completed can be a real money saver. 

Why does Harmon make loans, not grants? 
We believe charitable projects should make economic sense. A charity's ability to repay a capital loan helps validate a project's economic worth. A charity willing to repay loans to build is putting its own, not just donor, money into a project, and tends to give careful thought to what it builds. 

What happens to repayments?
They are added back to a revolving loan fund. As the Foundation adds new money more and larger project can be funded. 

Why charge interest? 
Some of our early borrowers sought money to invest in financial markets. Our rates are just high enough to discourage playing financial markets. 

How low is low?
Rates are set by reference to short term Treasury rates with consideration to the loan's length. They are much lower than any other likely source of borrowed funds. 

Can a charity fund a new program with a loan? 
Probably not. We do not loan for operating expense or to endowment. We loan for buildings, land, and physical items. We've loaned to purchase computer systems, specialized software, copy machines, telephone systems, and vehicles, but we don't loan to pay salaries, or to retire pre-existing debt.

What's the catch?
You have to repay the loan. We use whatever you're buying as collateral. Reflecting well on the charities to which we've lent, our repayment rate is very good. 

What organizations are eligible for Harmon Foundation low-interest loans? 
Private charitable or religious organizations headquartered in and delivering benefits primarily within Oklahoma, Kansas, Arkansas, Texas, or New Mexico. We prefer to work with organizations in Northeast Oklahoma but have ventured as far 
from home as Kansas City, Kansas, Houston, Texas and Albuquerque, New Mexico. More detail is provided on the application download, below, but NOTE: WE DO NOT FUND STARTUPS - a multi-year track record of successful operation is required for eligibility. 

What size loan can the Harmon Foundation make? 
We've made loans for less then $10,000. The largest ever is $2,040,000. We seek to lend between $1 to $2 million every year. 

Cite a good example. 
The State of Oklahoma payment to community mental health providers includes an allocation to "occupancy," which usually means "rent." Our loans make it possible for providers to build (and own) a sparkling new building designed just for their needs. Their monthly loan payments have often been less than what they would pay in monthly rent for a less desirable facility. 

Why can't we apply by email? 
One word: SPAM. Your application might be killed by our email spam filters. 

What is the application process? 
Complete the form, print it out, and mail to: 

Harmon Foundation 
PRI Applications 
PO Box 52568 
Tulsa, OK 74152-0568