Commongood Careers

Full $50 Million Allocated for Social Innovation Fund in 2010

As a member of the America Forward Coalition, we are thrilled to pass along this exciting announcement!

Dear Friends of America Forward,

On December 8, Congress made a formal decision to fully fund for the Social Innovation Fund in its first year at $50 million. The Social Innovation Fund will serve as a robust mechanism for partnering across sectors to identify and invest in proven innovations, and will provide the critical catalytic capital necessary to bring these solutions to bear on problems faced by communities across the country.

This $50 million dollar investment in 2010 has the potential to grow to as much as $200 million in its first year, by leveraging private and philanthropic support for both intermediaries and grantees. While we recognize that this may seem small, relative to the billions being invested in restoring our nation’s economy, this pilot fund has the potential to serve as a potent example of the power of social innovation to solve truly complex social problems. Achieving full funding in its first year is a remarkable starting point for what we believe will become a new way to solve problems across government.

We sincerely thank you all for your hard work in securing full funding for the Social Innovation Fund. As you know, this was a long and challenging process, and our success lies in your ability to mobilize with passion around this Fund. Your countless calls, emails, and letters to appropriators helped make the case that there is widespread and deep demand for a new way of solving problems, and that organizations stand ready to scale their programs to the communities where they are most needed.

We also deeply appreciate the forward-thinking champions of social innovation on Capitol Hill, who rallied their colleagues to call for a new way of investing in solving problems. We are inspired by their leadership and vision for a future where all children and families have access to the powerful solutions of social entrepreneurs.

While this is surely a moment for celebration, lots of work remains to be done to achieve success for the Social Innovation Fund. We must now come together to support the implientation of the Fund, to prove that this is a more effective way to invest government dollars, and that by focusing on growing high-impact organizations we can overcome many of the great social challenges faced by our nation.

Thank you for your dedication to this effort. We are eager to continue advancing the social innovation agenda and the Fund.

Best regards,

The America Forward Team