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Fund geography
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (113)
The Public Radio Fund LLC (the “Fund”) is a unique mission-oriented investment opportunity created by Public Radio Capital (“PRC”) in 2007. PRC and the Fund are nonprofit, mission-oriented entities under the oversight of the PRC Board of Directors. The Fund has an Advisory Council composed of seasoned professionals to help build the Fund and to assess its effectiveness.
Through the Fund, investors participate in financing the expansion of public media assets, programming, and strategic initiatives to benefit communities nationwide. The goal of the Public Radio Fund is three-fold:
1. Expand Americans’ access to educational, informational and cultural programming.
2. Foster opportunities for new public media content that appeals to younger and more diverse audiences; and,
3. Increase opportunities for local programming and local ownership.
Using funds from the investor notes, PRF lends to public media organizations for use in a variety of ways including:
• Escrow deposits
• Equipment loans
• Short-term bridge loans
• Debt service reserve funds
Financial description
The Fund makes loans to public media entities at rates between 5% to 8%. Investor Note holders receive returns of 0% to 3% on their notes (investors may choose the interest rate based on their ability to support the mission). For foundations, these Notes may qualify as Program Related Investments. Notes are issued, and begin to accrue interest upon the deposit of funds made available to the Public Radio Fund by the investor. Simple interest is paid annually on August 31st of each year. The minimum investment is typically $100,000 from individuals or $25,000 aggregated with an investment group.
Using funds from the investor notes, PRF lends to public media organizations for use in a variety of ways including:
• Escrow deposits required as part of station acquisitions.
• Equipment loans to enable stations to purchase capital assets.
• Short-term bridge loans to close an acquisition or help assist with any delays in committed federal or state funding.
• Debt service reserve funds that guarantee loans from other public or private sources and leverage the Fund with other tax-exempt or conventional financing.
• Short-term financing while stations complete capital campaigns.
• Working capital loans to support cash flow needs of public media outlets and producers.
• Loans to fund the acquisition of a station.
17 years
of track record
2007
the year funded
15,000,000 USD
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
Key performance indicators
Fund overview
Asset manager: Public Radio Capital
Product track record: Fund has 17 years of track record
Target IRR: n.a.
Committed Capital: n.a.
Target return category: Below risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - committed capital
Style/Stage: Core
Inception year: 2007
Vintage year: 2008
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: n.a.
Product term: Typically 3 to 5 years
Assets under management: 15,000,000 USD (US Dollar)
Investment size: Min: 100,000; Max: 500,000; Avg: 300,000
Co-investment policy:
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 13
Fund investments to date exited or repaid: 8
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: Ford Foundation, Calvert Foundation, NPR Foundation, Nonprofit Finance Fund, Hull Family Foundation, and individual investors
Limited Partner / Investor Type: n.a.
Contact
E-mail: info@publicmedia.co
Website: http://www.publicradiocapital.org/fund/index.php
Phone number: 720-304-7274
If you wish to have your details removed from this database please email gdpr@impactyield.com
Erin Moran
n.a.
Evran Kavlak
Credit Manager
Impact Performance
n.a.
Impact thesis
As the only lending source specializing in public media, the Fund offers financial products that could assist public broadcasters and program producers in facing their challenges and increasing their competitiveness.
Investments in the Fund have a critical and sizable social benefit. The Fund is the only lending source in the country dedicated to financing the activity of public media organizations. Total investor notes to the Fund currently stand at $5.7 million.
Since its founding in 2007, including loans paid back, the Fund has lent $7,428,000 (or 84%) of the $8,730,000 that has been raised in investor notes. Additionally, through its $7.42 million in loans and commitments, the Fund has been able to leverage $22.6 million in additional lending to public media entities.
Impact Management
n.a.