Deadline- June 27, 2012
Countries/Region- U.S
The Alliance for Global Good, which works to increase the efficiency, effectiveness, and sustainability of nonprofits focused on solving global crises in the areas of health, poverty, education, the environment, and world relations, has launched a new Innovation Fund to support collaborative, cross-sector models of nonprofit financing.
The fund is designed to help medium-sized U.S.-based nonprofits develop mission-relevant social finance mechanisms as part of their approach to their own revenue needs and to the sustainability of programs that address the mission and problem-solving programs of the nonprofit.
The fund will provide support to encourage financing models ranging from creating new social entrepreneurship revenue streams to cost-sharing initiatives or mergers to reduce overhead and increase efficiencies. Grants of $60,000 will be awarded as late-stage financing to organizations that have a mature strategy for concrete initiatives.
Eligibility Criteria-
- 501(c)3 U.S. Organizations that have been in existence for at least 10 years and:
- Engage in one or more of the five critical areas of AFGG emphasis outside of the U.S.: poverty, health, education, environment, and world relations;
- For at least the last 5 years have had stable revenue from traditional sources averaging below $20,000,000 per year;
- Have identified a clear strategy for revenue diversification and sustainability, and have conducted enough of the needed work to frame a mature strategy for concrete initiatives;
- Possess robust systems of governance and financial accountability; and
- Can demonstrate in quantitative terms their past impacts in solving target issues and problems.
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