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Published by: Harvard Business Publishing
Originally published in: 2011
Version: 28 July 2011
Length: 19 pages
Data source: Field research

Abstract

The Edna McConnell Clark Foundation, focused on building the organizational capabilities of non-profits that served the disadvantaged youth in the US, has recently been named an intermediary in the federal government's new social innovation fund (SIF), which is intended to bring together public-private funds to help expand effective solutions across three issue areas: economic opportunity, healthy futures, and youth development. SIF intermediaries would be responsible for directing resources to innovative community-based nonprofit organizations that were seeing results. Edna McConnell Clark Foundation had long been a promoter of evidence-based accountability and grantmaking and saw the absence of an efficient capital market in the non-profit sector as a major impediment to funding growth, increasing scale, and building the sustainability of successful non-profit organizations. With its Capital Aggregation Growth Pilot (GCAP), Edna McConnell Clark Foundation had seen positive results in taking a ‘syndicate’ approach to funding a select group of non-profits. With it being named an SIF intermediary, Edna McConnell Clark was ready to build on its GCAP experience and continue to evolve a model that would provide, at increased efficiency, growth capital for successful organizations. The foundation hoped to build a capital aggregation approach that would serve as a model for philanthropy.
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2011

About

Abstract

The Edna McConnell Clark Foundation, focused on building the organizational capabilities of non-profits that served the disadvantaged youth in the US, has recently been named an intermediary in the federal government's new social innovation fund (SIF), which is intended to bring together public-private funds to help expand effective solutions across three issue areas: economic opportunity, healthy futures, and youth development. SIF intermediaries would be responsible for directing resources to innovative community-based nonprofit organizations that were seeing results. Edna McConnell Clark Foundation had long been a promoter of evidence-based accountability and grantmaking and saw the absence of an efficient capital market in the non-profit sector as a major impediment to funding growth, increasing scale, and building the sustainability of successful non-profit organizations. With its Capital Aggregation Growth Pilot (GCAP), Edna McConnell Clark Foundation had seen positive results in taking a ‘syndicate’ approach to funding a select group of non-profits. With it being named an SIF intermediary, Edna McConnell Clark was ready to build on its GCAP experience and continue to evolve a model that would provide, at increased efficiency, growth capital for successful organizations. The foundation hoped to build a capital aggregation approach that would serve as a model for philanthropy.

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Location:
Other setting(s):
2011

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