Fool Foundation launches ImpactFool Fund, begins recruiting candidates for non-profit organizations
The IF Fund will be accepting nominations from June 20 through July 19 for eligible nonprofit organizations based in the greater Washington, DC area.
The Motley Fool Foundation is pleased to announce the launch of the ImpactFool (IF) Fund*, promoting the most promising path to financial freedom for the two-thirds of salaried Americans. The IF Fund will apply the principles of venture capital to identify, fund, and support early-stage nonprofits with large-scale potential.
By July 19, 2024, the Foundation will nominate 501(c)(3) non-profit organizations based in the Greater Washington, DC^ area that can have a direct impact on five areas that shape individuals’ ability to achieve financial freedom: Health. Welcome. , education, housing, work and money. Selected organizations will each receive $300,000 ($100,000 annually for the next three years) and direct, hands-on expertise to help them grow their impact.
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“We’re excited to launch the IF Fund to support nonprofits that help Americans take the next step toward financial freedom,” said Sean Milliken, ImpactFool Fund Executive Director. “We combine The Motley Fool’s proven investment principles—long-term orientation, active engagement, and a focus on measurable results—with the Motley Fool Foundation community’s commitment to helping these organizations grow by creating positive change through their talent and treasures. We will do it further and faster.”
challenge
Nearly 7 in 10 Americans face financial difficulties that prevent them from reaching their full potential. These are people who struggle to pay rent, pay bills and put food on the table, get an education, and support others. The Motley Fool Foundation fosters a stronger, more resilient long-term economy by envisioning a society where everyone has an equal opportunity to prosper and can spend, save and invest for the future without barriers.
Request for Nominations
The IF Fund is accepting nominations from June 20 through July 19 for eligible nonprofit organizations based in the greater Washington, DC area^. The first ImpactFool nonprofit is expected to be announced in fall 2024. To learn more about the IF Fund, including eligibility requirements, selection process, use the nomination form, and how to get involved, visit Foolfoundation.org/iffund.
*ImpactFool (IF) Fund is a venture philanthropy fund rather than a traditional investment fund. Contributions to the IF Fund will be used only for charitable purposes directed by the Motley Fool Foundation.
^The initial focus on Greater Washington, DC area nonprofits is expected to expand nationally in future funding rounds. The Greater Washington, DC area is defined as Washington, District of Columbia-Maryland: Prince George’s County, Charles County, Montgomery County, Frederick County, and Calvert County-Virginia: City of Alexandria, Arlington County, Clark County, Culpeper County, and Fairfax County. , City of Fairfax, City of Falls Church, Fauquier County, City of Fredericksburg, Loudon County, Madison County, City of Manassas, Manassas City 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 Motley Fool’s expertise and resources to advance impactful philanthropy aimed at improving access to financial freedom. By combining strategic support with innovative fundraising approaches, the Foundation strives to create lasting change in communities across the United States.
