The Motley Fool Foundation is excited to announce the launch of its ImpactFool (IF) Fund*, an accelerator of the most promising pathways to Financial Freedom for the two-thirds of Americans who live paycheck-to-paycheck. The IF Fund will apply the principles of venture capital to find, fund, and support early stage nonprofits with large-scale potential.
The Foundation welcomes nominations through July 19, 2024, of any 501(c)(3) nonprofit based in the Greater Washington, D.C.^, area that shows promise in directly impacting the five areas that shape an individual's ability to achieve Financial Freedom: Health, Education, Housing, Work, and Money. Organizations selected will receive $300,000 each ($100,000 annually over the next three years), plus direct hands-on expertise to help scale up their impact.
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"We're thrilled to launch the IF Fund to support nonprofits that are helping Americans take their next step toward Financial Freedom," said Sean Milliken, ImpactFool Fund Managing Director. "We'll combine The Motley Fool's proven investment principles -- long-term orientation, active engagement, and a focus on measurable outcomes -- with The Motley Fool Foundation community's commitment to making a positive difference through talent and treasure to help these organizations grow further and faster."
The Challenge
Nearly 7 in 10 Americans face financial challenges preventing them from reaching their full potential: people who struggle to pay their rent, have to choose between paying a bill and putting food on the table, or juggling their education while supporting others. The Motley Fool Foundation envisions a society where everyone has an equal chance for prosperity and can spend, save, and invest in their future without barriers, fostering a more robust and resilient long-term economy.
Call for Nominations
The IF Fund accepts nominations from June 20 to July 19 for eligible nonprofits based in the greater Washington, D.C., area^. The first ImpactFool Nonprofits will be announced in the fall of 2024. For more information about the IF Fund, including eligibility requirements, selection process, access to a nomination form, and how you can get involved, please visit Foolfoundation.org/iffund.
*The ImpactFool (IF) Fund is a venture philanthropy fund, not a traditional investment fund. Donations to the IF Fund are exclusively for charitable purposes directed by The Motley Fool Foundation.
^An initial focus on Greater Washington, D.C., area nonprofits is expected to extend nationally in future funding rounds. Greater Washington, D.C., area is defined as Washington, District of Columbia-Maryland: Prince George's County, Charles County, Montgomery County, Frederick County, Calvert County-Virginia: City of Alexandria, Arlington County, Clarke County, Culpeper County, Fairfax County, City of Fairfax, City of Falls Church, Fauquier County, City of Fredericksburg, Loudon County, Madison County, City of Manassas, City of Manassas Park, Prince William County, Rappahannock County, Spotsylvania County, Stafford County, Warren County-West Virginia: Jefferson County.
About The Motley Fool Foundation
The Motley Fool Foundation is a 501(c)3 public charity that leverages the expertise and resources of The Motley Fool to drive impactful philanthropic initiatives aimed at improving access to Financial Freedom. By combining innovative funding approaches with strategic support, the Foundation strives to create lasting change in communities across the United States.
