{"value"=>"<p>Series III is composed of files related to the New York Foundation's participation in the Cooperative Assistance Fund (CAF) between 1968 and 1987. The CAF, established in Washington, D.C. in 1968, was a consortium of foundations which contributed funds to an investment pool. The profits generated from these investments were used to support development in disadvantaged and low-income communities, particularly in the urban North and rural South. This type of investment, now commonly known as a program-related investment (PRI), was innovative when begun by the CAF in in 1968. The New York Foundation ended its involvement with the CAF in 1987.</p> <p>Files in this series are arranged chronologically and contain correspondence, printed materials, meeting minutes, and agendas. Of note are materials related to the New York Foundation's 1987 decision to terminate involvement in the CAF and to donate its remaining investments to the Fund rather than withdraw them.</p>"}