Social Innovation Fund
| The Social Innovation Fund (SIF), a new public-private investment vehicle established by the 2009 Edward M. Kennedy Serve America Act, is designed to:
In Fiscal Year (FY) 2010, the Corporation will award up to $50 million in Federal funding to an estimated seven to 10 intermediary organizations. Annual SIF awards to intermediaries will be in the range of $1 million to $10 million, and must be matched 1:1 in cash. The SIF award periods are up to five years. The SIF funding mechanism will leverage $3 of private funding for every $1 in federal funding, generating a total public-private investment of $200 million in FY 2010. Nonprofit community organizations will be competitively selected by SIF intermediaries and receive subgrants to:
Subgrants will be awarded on the order of no less than $100,000 per year for three to five years, along with strategic support in areas such as evaluation and management. Subgrantees must also provide a 1:1 cash match for the total amount—Federal and private dollars—they receive from the intermediaries. The Social Innovation Fund will invest in effective, innovative nonprofits working in low-income communities to address critical social challenges in the priority issue areas of:
Private Sector Support On May 27, 2010, First Lady Michelle Obama and Corporation for National and Community Service CEO Patrick Corvington announced the initial phase of philanthropic commitments totaling $50 million to match Social Innovation Fund (SIF) grants and to invest in other innovative community solutions. The following private foundations and philanthropists are committing a total of $45 million over the next two years to match SIF grants or invest in other innovative community solutions:
Additionally, an independent consortium of more than 20 national and regional funders, led by Grantmakers for Effective Organizations (GEO), has come together to invest almost $5 million in the "Scaling What Works" initiative, to provide complementary funding for key initiatives to build the infrastructure needed for the long-term success of the SIF.
Technical Assistance: The first technical assistance was held on February 24, 2010 at 1:00 p.m. Eastern Time. An audio recording of that call can now be accessed by dialing the following number: 866-470-4778. The audio recording will be available through April 8, 2010. Click here for a transcript. A second technical assistance call was held on February 25, 2010 at Noon Eastern Time. An audio recording of that call can now be accessed by dialing the following number: 866-414-6075. The audio recording will be available through April 8, 2010. Click here for a transcript. A third technical assistance call was held on Tuesday, March 16, 2010 from 12:30 – 1:30 p.m. Eastern Time. An audio recording of that call can now be accessed by dialing the following number: 800-884-1527. The audio recording will be available through April 8, 2010. Click here for a transcript. A fourth technical assistance call was held on Friday, March 19, 2010 from 1:00 – 2:00 p.m. Eastern Time. On the call, Corporation staff walked through the following PowerPoint presentation on eGrants. An audio recording of that call can now be accessed by dialing the following number: 800-873-2129. The audio recording will be available through April 8, 2010. Click here for a transcript. Letters of Intent to Apply Thank you to all potential SIF applicants who submitted a Letter of Intent to Apply on March 1, 2010. Over 200 letters were received from a broad diversity of applicants from across the country. While a letter was not required as a condition of applying for a SIF grant, this preliminary data will allow the Corporation to anticipate the actual volume of SIF applications that will be received by the April 8, 2010 application deadline. The next step in the SIF application process is for potential intermediary applicants to submit their completed applications, including the match verification letters, to the Corporation by the deadline on April 8, 2010. All potential applicants are encouraged to reassess whether they meet the criteria for a grantee (an existing grantmaking institution) or a subgrantee (a nonprofit community organization). The SIF competition is focused on the selection of intermediary grantmaking institutions; subgrantees will be competitively selected by intermediary applicants either as part of their SIF application, or as part of a competitive selection process conducted by SIF grantees post-award. The Corporation held a Technical Assistance call on February 24, 2010, which included a discussion about how a nonprofit community organization could be appropriately involved with the SIF at this time. An audio recording and transcript of that call can be accessed here Please be aware that the Corporation cannot offer individualized eligibility determinations. All potential applicants are further encouraged to continue to check this website for updates. An FAQ update has now been posted here and additional eGrants guidance will be posted at least three weeks prior to the April 8, 2010 deadline. Appreciation: The Corporation wishes to thank all who engaged in the public process to design and implement the SIF. The Corporation particularly thanks the greater than 200 organizations and individuals who provided feedback on the draft NOFA. The public feedback comments were instrumental in generating policy changes that significantly broaden SIF eligibility. In particular, the comments led to:
This change will enable a broader pool of intermediaries to apply, including grantmakers working in rural areas or states with less philanthropic resources.
This change will ensure that a broader pool of effective nonprofit community organizations have a chance to access SIF funding and work in partnership with SIF intermediaries. It will also increase the quality of the subgrantees selected, as intermediaries will not rush to complete their processes by the application deadline. Over 50 public comments were received on the use of evidence of effectiveness and impact in the SIF. Many of the comments encouraged the Corporation to be more inclusive about the types of evaluation that would produce strong evidence of impact. The Corporation will capture these insights in its Frequently Asked Questions (FAQ), a companion document to the NOFA. The FAQ will clarify that the Corporation expects subgrantees to demonstrate some level of impact in order to receive a grant, but does not expect that most initial subgrantees will have the strongest level of evidence. The SIF is designed to build the evidence base of programs over time using rigorous evaluation tools that are appropriate for the intervention. The Corporation is committed to ongoing discussion about evidence moving forward through learning communities and other forums. The Corporation is grateful for time that was spent to share this input, and looks forward to ongoing engagement and dialogue with the public over the life of the SIF.
Paul Carttar brings more than thirty years of experience across sectors – public, private, and nonprofit – to the position of Director of the Social Innovation Fund. He is a recognized leader in the fields of nonprofit management and social innovation. For the past decade, Carttar has worked with the top social innovators in the nonprofit sector and consulted many of the most successful nonprofits in the country. Recently he served as an Executive Partner with New Profit, Inc. and a Senior Advisor with the Monitor Group, working with nonprofits to expand their capacity and impact. Previously, he served as Chief Operating Officer for the Ewing Marion Kauffman Foundation, one of the nation’s largest and most innovative private philanthropies, where he oversaw all program and grant-making activities. Carttar co-founded and helped build the Bridgespan Group, a nonprofit management consulting firm affiliated with Bain & Company, where he served from 1999 to 2003. While at the Bridgespan Group, Paul helped develop a new trajectory for the entire nonprofit sector—raising expectations and bringing in new voices and approaches to help nonprofits grow and succeed. Carttar began his career in the public sector as an analyst and assistant economist for the U.S. Senate Budget Committee and subsequently served as research assistant to Dr. Arthur F. Burns, former chairman of the Federal Reserve Board, at the American Enterprise Institute. In 1982, he joined Dr. Burns, then U.S. Ambassador to West Germany, as his Special Assistant in Bonn. After returning to the United States, Carttar spent several years with Bain & Company, where he assisted clients in the health care, high technology and consumer products industries. He later held executive positions in two private, venture-capital funded companies in the healthcare industry, first as head of worldwide sales and marketing for a medical diagnostic equipment company and then as chief operating officer for a national physician practice management company focused on geriatric care. He also served as Executive Vice Chancellor for External Affairs at the University of Kansas. Carttar is a frequent speaker on nonprofit issues, including delivering the keynote address at the 2007 EuroFaculty conference in Kaliningrad, Russia, and is the co-author of noted articles on nonprofit capital markets and social impact. In addition, he served on the board of directors for several national nonprofit organizations. Carttar graduated with highest distinction from the University of Kansas with a B.A. in Economics and English and received his M.B.A. from Stanford University’s Graduate School of Business.
http://www.nationalservice.gov/about/serveamerica/innovation.asp |
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