July Amplify!
June Edition of Foundation in Five
In this month’s edition of The Foundation in Five, David Gardner and Jennifer Gennaro Oxley discuss realistic optimism, the successes of FoolFest24 and the ImpactFool Fund, and share updates on the coming beta launch of our Financial Freedom assessment tool. Watch now and get your front-row seat to learn what The Foundation has been up to in July!
The Foundation at FoolFest24 and Launching The ImpactFool (IF) Fund*
A few weeks ago we had the amazing opportunity to attend FoolFest24, an annual conference for Fool Members and it was a hit! We hosted our first session on Charitable Giving the Foolish way, with our friends at Motley Fool Wealth Management, heard our member’s input on what it will take for everyone to achieve Financial Freedom, and most importantly, officially launched our first Venture Philanthropy Fund, The ImpactFool Fund*! Download the presentation here.**
This past month, we asked you to nominate the Diamonds in the Rough, nonprofits 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.
We are thrilled to say that we received 84 nominations this month! THANK YOU! We are now in the application process and will be selecting and announcing our ImpactFools this fall. We are excited to share that we have raised $1M of our $5.25M goal. We are incredibly grateful to our generous donors! Wondering how you can still be a part of this exciting venture? The window to give is still open! Learn more about giving to the IF Fund here.
If you’d like to see more of our shenanigans from FoolFest24, please enjoy this short recap video.
Breaking Rules and Changing Lives, One Bike at a Time
The Financial Freedom Rule Breakers program marks a significant first chapter in our program development narrative. This spotlight features the latest achievements from some of our first nonprofit winners, who are actively transforming the lives of individuals living paycheck to paycheck.
One of our Rule Breakers, Dan Weidenbenner, among several impactful avenues, is on a mission to use bikes to change lives.
“I wasn’t in a good place. I was homeless, I didn’t have a job. Now I’m an… employee. I own some amazing bikes. I have my own house. I’m off the streets. [Now] I know who I am. I know what I want to do with the rest of my life. I have a totally different attitude on life.” Watch the rest of William’s story here.
Congratulations to Tim Lampkin and the team at Higher Purpose Co for being awarded a $2.2 million grant to build the Higher Purpose Hub! This significant investment, part of a larger $4.3 million initiative by the Delta Regional Authority (DRA) and the Economic Development Administration (EDA), aims to boost economic development in the Mississippi Delta and Alabama Black Belt. The Higher Purpose Hub will serve as a crucial center for fostering economic growth and supporting local entrepreneurs in these historically underserved regions. We’re proud to see their impactful work being recognized and supported.
Realistic Optimism: A Catalyst for Change with The Motley Fool Foundation
Earlier in our Foundation in 5 conversation, you heard David and Jennifer discussing the idea of Realistic Optimism. If that sparked some interest we have an article for you on what it means to be realistically optimistic, how you can implement this in your life when it comes to the path of Financial Freedom, and how The Foundation is moving forward realistically optimistic. Read the article here.
Spark Conversation: Threads of Change
If you were not able to join this month’s Spark conversation, fear not! The recording is now available. Watch now to hear David Gardner’s conversation with Molly Hemstreet and all of the amazing work she is doing to help revitalize the Appalachian economy. Watch now!
ImpactFool (IF) Fund Donor Spotlight
Today, we want to shine a spotlight on Joy Grayson and Bill Devine, two of our inaugural ImpactFool Fund donors and express our heartfelt gratitude. Joy and Bill, your generous support has been instrumental in our journey. Thank you for being an essential part of our success!
Help us develop more pathways to Financial Freedom – so more strivers can become thrivers! You can join our mission by donating your time, talent, or treasure, at Foolfoundation.org.
As a public charity, The Motley Fool Foundation relies on contributed dollars from The Motley Fool and our independent public donors. We are always stronger together.
*The ImpactFool Fund is not a traditional investment fund – but rather a Venture Philanthropy Fund where donations from our community are awarded to other nonprofits by The Motley Fool Foundation.
**Please note: All tax information provided in this presentation is provided for educational purposes only. For advice specific to your personal tax status, including how types of charitable contributions may impact you, please consult a professional tax advisor.
