Nonprofit Finance Fund to Provide Financial, Business Management Aid to 11 Ford Foundation Media Grantees

Nonprofit Finance Fund to Provide Financial, Business Management Aid to 11 Ford Foundation Media Grantees

$1.2 Million Grant to Help NPR, PBS, PRI and Other Participants in Ford Foundation's $50 Million Initiative

NEW YORK, Oct. 17 /PRNewswire/ -- The Nonprofit Finance Fund (NFF) today announced that it will receive an initial $1.2 million grant from the Ford Foundation to provide financial and business management guidance services to National Public Radio (NPR), the Public Broadcasting Service (PBS), Public Radio International (PRI) and eight other organizations that are participating in a $50 million media initiative entitled Global Perspectives in a Digital Age: Transforming Public Service Media.

The organizations in the Ford Foundation media initiative that will receive NFF assistance are: Independent Television Service (San Francisco, CA); Link TV (San Francisco, CA); The National Minority Consortia (Washington, DC); NPR (Washington, DC); New America Media (San Francisco and Los Angeles, CA); OneWorld US (Washington, DC); PBS (Arlington, VA); Public Radio Capital (Englewood, CO); Public Radio Exchange (Cambridge, MA); PRI (Minneapolis, MN); and The Sundance Documentary Fund (Beverly Hills, CA).

NFF President Clara Miller said, "Sweeping shifts in the technological and economic landscape are creating new challenges for the public service media field. NFF will help the groups better understand their business models, run and finance the businesses supporting their missions, and develop promising new or non-traditional business forms that will be shared with the national public service media community."

"The Ford Foundation's public media grantees are responding to Americans' growing appetite for in-depth information and diverse perspectives on national, international and cultural affairs," said Orlando Bagwell, deputy director of the Ford Foundation's Media, Arts and Culture unit. "NFF will act as an important partner to these organizations, helping them achieve greater financial security so that they can continue to contribute to the public dialogue that is essential in a healthy democracy."

NFF services will also include direct access to financing, financial analysis of their business, executive seminars on business aspects of nonprofit finance, and in some cases, engagement with NFF Capital Partners, a "private equity" division of NFF devoted to helping nonprofits strengthen business development and increase access to investors.

In May 2005, the Ford Foundation announced a $50 million commitment over five years to help established and newer public media organizations in the United States use innovative approaches and technologies to expand international news, public affairs and cultural programming and reach diverse audiences that can help them attain financial security. The initiative builds on the foundation's long history of support for public media. Since 1951, it has provided over $435 million to public television for core support, innovative programming and educational outreach.

ABOUT NFF

Nonprofit Finance Fund (http://www.nonprofitfinancefund.org/) is dedicated to increasing the impact of nonprofits in their communities by helping them get the capital and knowledge they need to make program decisions that are backed by sound financial planning and management. Founded in 1980, NFF builds the capacity of nonprofits through financial resources in the form of loans, capital grants, and asset-building programs, reinforced by a variety of advisory services. NFF has helped more than 10,000 nonprofits implement sustainable growth and improve their capacity to serve their communities. Since 1980, NFF has lent close to $150 million and leveraged more than $750 million of capital investment on behalf of nonprofits. Headquartered in New York City, NFF has a staff of 65 in offices serving Greater Philadelphia, New Jersey and Delaware; New England; Washington DC, Maryland, and Virginia; Detroit; and Northern California.

First Call Analyst:
FCMN Contact:

Source: Nonprofit Finance Fund, NYC; Independent Television Service, San
Francisco, CA; Link TV, San Francisco, CA; The National Minority Consortia,
Washington, DC; NPR, Washington, DC; New America Media, San Francisco and Los
Angeles, CA; OneWorld US, Washington, DC; PBS, Arlington, VA; Public Radio
Capital, Englewood, CO.; Public Radio Exchange, Cambridge, MA; PRI,
Minneapolis, MN; The Sundance Documentary Fund, Beverly Hills, CA

CONTACT: Patrick Mitchell, +1-703-276-3266, pmitchell@hastingsgroup.com,
for Nonprofit Finance Fund

Web site: http://www.nonprofitfinancefund.org/

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