June Edition of Foundation in Five

In this month’s edition of The Foundation in Five, David Gardner and Jennifer Gennaro Oxley discuss the exciting launch of The ImpactFool (IF) Fund* with Managing Director, Sean Milliken. They talk about the upcoming FoolFest, Spark Conversation with Molly Hemstreet, and give an update on the debut of our first-ever Financial Freedom Assessment Tool. Watch now and get your front-row seat to learn what The Foundation has been up to in June!

The Motley Fool Foundation Announces The ImpactFool (IF) Fund and Opens Call for Nominations!

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. Keep reading to learn more. 

Financial Freedom Rule Breakers: The First Chapter in Program Development

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.

Higher Purpose Co. has received a $360,000 grant from the Robert Wood Johnson Foundation to study the effects of payday lending policies in Mississippi. Partnering with the Center for Rural Strategies and the Institute for the Advancement of Minority Health, the research aims to include rural voices from the Mississippi Delta, especially impacting Black residents in the region. Read more here.

Tim, one of our founding Rule Breakers with The Motley Fool Foundation, exemplifies innovation by challenging the status quo for positive change. His work aligns with The Foundation’s mission to empower individuals and communities toward financial freedom. Congrats, Tim!

Amazon has announced an additional $1.4 billion commitment to its Housing Equity Fund, aiming to support affordable housing initiatives in Washington, D.C., Seattle, and Nashville. This funding will help create and preserve affordable homes for families in these cities. Kimberly Driggins, one of our first Financial Rule Breakers, representing the Washington Housing Conservancy, plays a crucial role in this initiative, ensuring that the new funds will directly benefit communities in need by working closely with local housing organizations to develop sustainable and equitable housing solutions. Read more here.

Spark Conversation with David Gardner and Molly Hemstreet

Join us on July 18th, 2024, from 1-2 pm ET as The Motley Fool Foundation presents the June Spark Conversation Series: Threads of Change: Vision for Sustainable and Equitable Economies.

David sits down with Molly Hemstreet, founder of Opportunity Threads and co-founder of The Industrial Commons. Molly, a Financial Freedom Rule Breaker, shares her journey in revitalizing the Appalachian economy through cooperative business models and discusses the impact of major grants, including a $15 million award from the National Science Foundation.

Discover how Molly’s innovative approaches to sustainable and equitable economies are driving positive change in rural America. Don’t miss this opportunity to learn from her insights and vision for the future of the textile industry. Register Now! 

ImpactFool (IF) Fund Donor Spotlight: Ollen Douglass

“From striving to thriving, Financial Freedom changes everything. I happened upon The Motley Fool back when they were rocking for three hours on AM radio and having a blast. There was magic in the way they talked about money, different from what I was hearing and reading from others. Fast-forward, and fueled by Foolishness, I’ve attained Financial Freedom. However, 200 million Americans are teetering on the edge, living paycheck to paycheck. I gravitated to the Motley Fool Foundation to do good, have fun, and make Financial Freedom accessible to those in need. In other words, to use philanthropy to help the world become smarter, happier, and richer.” – Ollen Douglass

About Ollen: A founding donor of The ImpactFool (IF) Fund, Ollen Douglass is the CEO of Hanover Street Advisors.  Prior, he was the founding Managing Partner of Motley Fool Ventures. Founded in 2018, he led the growth of the venture capital firm from -0- to $250M in five years. He currently serves on the nonprofit boards of Young Artists of America (board President), and The Motley Fool Foundation (Finance Chair), and supports multiple non-profit organizations in the Baltimore-Washington metropolitan area. He remains active in venture capital as an advisor and ecosystem participant.

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.

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*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.

P.S.! Were you invited to FoolFest 2024 and are planning to attend? Please join us for one of our breakout sessions, round table discussions, or stop by our booth to say hello! We’d love to see you!