VII.2.d.1: Social Innovation Fund

Fund effective and potentially transformative portfolios of nonprofit community organizations.

Other Information:

The Social Innovation Fund is a new public‐private investment vehicle designed to – fund effective and potentially transformative portfolios of nonprofit community organizations to help them strengthen their evidence base, and replicate and expand to serve more low‐income communities; – identify more effective approaches to addressing critical social challenges and broadly share this knowledge; and – develop the grant‐making infrastructure necessary to support the work of social innovation in communities across the country. In fiscal 2010, the Corporation expects to award an estimated $50 million to five to seven intermediary organizations. Annual awards, which will run for five years, are expected to be in the range of $5 million to $10 million. Intermediary organizations – grantmaking institutions – will apply for funding and then make sub‐grants to a portfolio of promising nonprofit organizations. The network of grantees and sub‐grantees will leverage Federal investments through partnerships with the public, private and philanthropic sectors to ensure greater impact. The funding mechanism calls for every $1 in Federal funding to be leveraged by $3 in private funding, for a total public‐private investment of $200 million.

Stakeholder(s):

• Nonprofit Community Organizations

Indicator(s):

Indicator:1

Content