Philanthropic Commitments to Social Innovation Fund Featured at White House Press Conference
At a White House press conference last Thursday, May 27, philanthropic commitments to the administration’s Social Innovation Fund, were announced by First Lady Michelle Obama, who also highlighted a letter of support from the Council on Foundations. Signed by more than 130 heads of community foundations from across the country, the letter expressed support for the fund and the administration’s agenda to invest in community solutions.
The $50 million Social Innovation Fund, authorized in the Edward M. Kennedy Serve America Act of 2009, represents a unique public-philanthropic partnership that taps the grantmaking community to identify promising nonprofits. Housed at the Corporation for National and Community Service, the fund provides intermediaries with capital to expand and replicate their successful social change efforts in communities around the country. At the May 27 press conference, the First Lady and Corporation for National and Community Service CEO Patrick Corvington, announced $50 million in commitments from philanthropists to match the Fund and make other investments in innovative community solutions.
First round SIF applications were due April 8th. The announcement of the winners is expected in early July.
For more information about the Social Innovation Fund, click here the Council’s SIF resource site.
To watch the Press Conference on the First Lady’s website, click here for the video of the First Lady announcing foundations’ matching-grants for the SIF.