Inherent Foundation helped create and invested in an innovative financing structure called Pursuit Bonds, which are helping provide workforce training to those with great potential and great need via the Pursuit organization.
‘So far, the graduate placement rate exceeds Inherent’s assumptions, the default rate is lower, and the average salary of the repaying graduates is more than $85,000. The effective interest rate on the bonds is 6.6 percent, said Tony Davis, chief executive of Inherent.’
Read the full New York Times profile of Pursuit and an explanation of the financing structure here:
Income Before: $18,000. After: $85,000. Does Tiny Nonprofit Hold a Key to the Middle Class?