Alliance for Global Good Announces Launch of Innovation Fund to Support New Models of Nonprofit Financing - Concept paper due Jun 27
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.
Applicant organizations must be 501(c)(3) organizations that have been in existence for at least ten years; work in one or more of the five critical areas of AFGG emphasis outside the U.S. (poverty, health, education, environment, and world relations); have had stable revenue from traditional sources (e.g., government funding, individuals contributions) averaging below $20 million per year for at least the last five years; 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.
Visit the AFGG Web site for the complete Request for Proposals, application instructions, and the application form.
Link to Complete RFP
Primary Subject: International Affairs/Development
Geographic Funding Area: National
Posted June 8, 2012 via Foundation Center -PND
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