PJ staff report
The Corporation for National and Community Service is investing $123 million in public and private funds in 11 nonprofits that work to train the unemployed, boost access to health services for the underserved, and prepare youth for academic and economic success.
The initial round of grants from the agency’s Social Innovation Fund includes $50 million in public funds and nearly $74 million in private matching funds, or $24 million more than the statutory requirement.
Of the total, $700,000 will be used for evaluation.
The fund over the long term “will contribute to the development of the grantmaking infrastructure that supports the work of high-impact nonprofit organizations and inform other federal, state and local efforts to address social challenges,” Paul Carttar, director of Social Innovation Fund, says in a statement. “It offers an avenue for community-driven solutions to grow and demonstrate their value.”
Nonprofits and private and community foundations receiving grants will serve as “intermediaries,” regranting the funds to “subgrantees.”
Three intermediaries already had selected a total of eight subgrantees that showed “evidence of effectiveness,” the Corporation for National and Community Service says in a statement.
The remaining eight intermediaries will conduct open competitions to select nonprofit subgrantees within six months of receiving awards.
Subgrantees, with the help of the intermediaries, will be required to raise a total of $100 million more, matching the $50 million from the Social Innovation Fund and the $50 million in private matching funds required by statute.
Some funds from a separate pool of private contributions totaling $50 million will be used to help subgrantees meet their matching-fund requirement.
Groups receiving economic-opportunity grants include Jobs for the Future and the National Fund for Workforce Solutions; Local Initiatives Support Corp.; Mayor’s Fund to Advance New York City and the NYC Center for Economic Opportunity; and REDF.
Groups receiving health grants include Foundation for a Healthy Kentucky, Missouri Foundation for Health, and National AIDS Fund.
Groups receiving youth grants include New Profit Inc., The Edna McConnell Clark Foundation, and Venture Philanthropy Partners.
In addition, United Way of Greater Cincinnati, the Strive Partnership and other funders received a grant to address multiple issues.