Social-Impact Investments (Richard King Mellon Foundation) is sponsored by Richard King Mellon Foundation. This program provides investments to mission-driven for-profit companies that generate both financial returns and charitable impacts, aligning with the Foundation's strategic plan in areas like Conservation, Economic Development, Economic Mobility, and Health & Well-Being.

Social-Impact Investments - Richard King Mellon Foundation Social-Impact Investments The nonprofit and public sectors alone cannot provide all the ideas, resources, and talented people needed to advance the Foundation’s strategic priorities.

The Foundation’s social-impact investing enables mission-driven for-profit companies to secure the risk capital, networks and resources they need to develop products, deploy services and address societal issues at the individual and community level.

For-profit investments for social good Companies applying for an SII investment can be located anywhere in the United States – but the positive social impact generated by the Foundation’s investment must accrue to the benefit of communities in Allegheny and/or Westmoreland counties. The one exception is for startups aligned with the Foundation’s Conservation program, which is national in scope.

The positive impacts from conservation-focused startups can be anywhere in the United States.

Through the SII program, the Foundation aims to: Invest in regional expertise to support the development of products, services and novel technologies that will benefit the region and society Complement existing offerings to companies not eligible for traditional grant support Leverage talent and innovation from local institutions to uncover new opportunities Explore collaborations with industry to advance new technologies Improve communications and access to capital for a broad range of companies Attract new companies and talent to the region Help to create and promote employment opportunities Explore new finance mechanisms to attract additional sources of capital Promote partnerships between for-profits and nonprofits to adopt new finance strategies aimed at growth and sustainability Support innovative funding approaches by government Program-Related Investments The Foundation primarily uses Program-Related Investments (PRIs) to provide SII funding to for-profit companies.

Typically, SII PRIs are structured as convertible notes. We are industry agnostic and are open to any phase of company development, beyond the idea stage. Priority: Conservation – In Western Pennsylvania and across the nation, important habitats are imperiled, threatening biodiversity and undermining people’s quality of life.

The Foundation envisions that wildlife flourishes and people thrive in those once-imperiled habitats, through strategic land protection, stewardship, and activation, and sustainable economic development that deploys renewable energy and new technologies that foster livable communities and healthy natural systems. Conservation is the Foundation’s one national program area.

The Foundation’s Conservation program investment areas are: Habitat Conservation; Stewardship; Economic Activation of Rural Communities around Protected Landscapes; and Sustainable Communities. Positive social impacts in these investment areas can be anywhere in the United States.

Priority: Economic Development – The region’s economic prosperity is hindered by a widening gap in economic opportunities among residents and education systems that are not keeping pace with what the workforce of the future needs to compete in the innovation economy.

The Foundation’s vision is for a region that is an engine for economic growth and vitality by investing in the ingenuity and creativity of its population, enhancing individuals’ economic prosperity, and strengthening our sense of community. The Foundation’s Economic Development program investment areas, all focused in Allegheny and/or Westmoreland counties, are: Talent Development; Employment Opportunities; and Community Building.

Priority: Economic Mobility – In Allegheny and Westmoreland counties, children in lower income households have less access to opportunities that contribute to economic mobility in adulthood. Also, community-level factors create obstacles that impede some children’s pathway to economic mobility.

The Foundation envisions that all children and youth living in Allegheny and Westmoreland counties will be able to access their most promising future. We invest in pathways to opportunity for vulnerable children and youth to overcome the obstacles to achieving economic mobility.

The Foundation’s Economic Mobility program investment areas, all focused in Allegheny and/or Westmoreland counties, are: Educational Attainment; Future of Work; Supportive Living Environments; and Places of Opportunity.

Priority: Health and Well-Being – Many individuals in Allegheny and Westmoreland counties are unable to live a healthy life due to conditions in their communities, lack of integration across sectors, and differences in the availability of quality supports and services. The Foundation envisions that everyone in Allegheny and Westmoreland counties, particularly the most vulnerable, has the opportunity to live a healthy life.

The Foundation’s Health and Well-Being program investment areas, all focused in Allegheny and/or Westmoreland counties, are: Healthy People; Healthy Communities; and Advancing Science. The Foundation has launched four Social-Impact Investment Pitch Competitions annually beginning in 2021. Through those competitions, 15 mission-driven startups have been awarded a total of $5.

26 million. The fifth competition launched on October 31, 2025, and applications are due by December 19, 2025. Companies applying for an SII investment can be located anywhere in the United States – but the positive social impact generated by the Foundation’s investment must accrue to the benefit of communities in Allegheny and/or Westmoreland counties.

The one exception is for startups aligned with the Foundation’s Conservation program, which is national in scope. The positive impacts from conservation-focused startups can be anywhere in the United States. Applications are due at NOON on Friday, December 19th.

The Foundation has approved investment in 67 social-impact startups since the launch of the program in 2021, totaling $23. 2 million. View the Foundation’s Social-Impact Portfolio summary here .

Frequently Asked Questions FAQ: Social-Impact Investments Can I meet with a program officer before submitting an application? In general, program officers are not available for a discussion until after a proposal has been submitted. You can also email [email protected] with questions.

How soon will I hear about my application once it is submitted? You will immediately receive an email confirming that your application was successfully submitted. There are not specific timelines associated with the review of a funding application.

Our organization’s application was declined. Can I talk with someone about that? Questions about a declined application may be submitted via email to [email protected] .

The Foundation aspires to reply to all inquiries but, given the volume of applications the Foundation receives, we cannot commit to answering every such inquiry. Do you provide multi-year grants or PRIs? The Foundation is generally not providing multi-year grants at this time.

The majority of our grants are twelve to eighteen months . Our organization is based outside of Allegheny and Westmoreland counties, but we’d like to bring our programs to these counties. Would the Foundation still consider our application?

Yes, we consider applications from organizations that are not based in Allegheny or Westmoreland counties. In your application, you should be clear about why and in what ways the project will serve economic development in these counties. A PRI is a financing tool that allows foundations to provide funding to for-profit businesses to create solutions to social problems in furtherance of that foundation’s charitable purposes.

PRIs can take many forms, including loans, equity investments or financial guaranties. Foundations do expect a PRI to be repaid according to the terms of the investment. When that happens, a foundation distributes the returned funds to other charitable purposes within one year.

What is a convertible note? A convertible note refers to a short-term debt instrument (security) that can be converted into equity (ownership portion in a company). They are structured as loans to convert it to an equity stake of the company in the future.

We are also able to structure investments as Safes where appropriate. How is a PRI from a philanthropic foundation different from other types of investments in a company? The primary goal of a PRI is to achieve charitable benefit.

The U.S. Internal Revenue Service allows a foundation to provide a PRI if the investment fulfills all three of the following criteria: The primary purpose is to accomplish one or more of the foundation’s exempt purposes Production of income or appreciation of property is not a significant purpose, and Influencing legislation or taking part in political campaigns on behalf of candidates is not a purpose.

The IRS provides additional guidance that further clarifies each of these criterion. We encourage you to consult with your legal counsel and review the IRS guidance and other resources about philanthropic PRIs before you submit an application. Our business is headquartered outside the Pittsburgh region.

Are we still eligible to apply? Yes. You may submit an application if your company is based anywhere in the United States.

Unfortunately, we are not able to entertain applications from companies not incorporated in the United States. For ideas focused on Economic Mobility, Economic Development, or Health & Well-Being, if your company is located outside the Pittsburgh region, please be sure to address within the application how your idea will positively impact Allegheny and/or Westmoreland counties.

If your proposal is related to our Conservation program area, the positive impact you seek to generate can be anywhere in the United States. Is it difficult to file an SII application? The Foundation’s SII application is the starting point for a rigorous due diligence process which will be pursued as expeditiously as possible.

Applications may be submitted at any time. Your company may incur legal fees during this process, for which the Richard King Mellon Foundation cannot provide reimbursement. Also, your leadership team and other staff will need to dedicate time to meeting with Foundation staff, providing materials and answering questions.

The first step in the process is for you to submit an application through the SII application portal on our website. In the application, you will provide information about your company and how your company contributes to broader social good.

We will also ask for information about where that proposed charitable benefit will occur, along with further detail about your business plan and the charitable benefit that your organization seeks to create with funding. If we determine that your initial proposal is a good candidate for further consideration, we will reach out to schedule time to meet and initiate our diligence process.

During this meeting, our staff will address questions around impact, executive leadership and management, business models, financial projections, operations and strategy, among other areas of importance. If necessary, staff may conduct site visits or require further diligence inquiries to determine whether an investment is appropriate. I have additional questions about the application.

Can I meet with the Foundation staff prior to submission? Any questions about the application may be submitted via email to [email protected] . We will be responsive to all thoughtful inquiries.

What do you mean by “Creating Charitable Impact”? We encourage you to consult with your legal counsel and review the IRS guidance and other resources about philanthropic PRIs before you submit an application.