Welcome to the IF Fund FAQs page!
Here, you’ll find answers to common questions. If you need further assistance, please shoot us an email to if_fund@foolfoundation.org. We’re here to help!
What is the ImpactFool (IF) Fund?
The ImpactFool (IF) Fund is a signature initiative of Fool Community Foundation that utilizes a venture philanthropy approach to find, fund, and support early-stage nonprofits that demonstrate great potential for helping Americans take their next step toward Financial Freedom. Its mission is to accelerate the most promising pathways to Financial Freedom for Americans living paycheck-to-paycheck.
What is an ImpactFool Nonprofit?
An innovative nonprofit with incredible potential to transform lives and help Americans living paycheck to paycheck take their next step toward Financial Freedom.
Why “ImpactFool”?
Since 1993, The Motley Fool has used “Foolish” naming as part of our overall brand identity. The term Fool comes from Shakespeare. The Fool was the only member of the court who could speak freely to the King. The name, “ImpactFool” continues this tradition, with Fool Community Foundation’s focus on having a positive impact on the people we serve. Also, it’s an “impactful” pun.
What areas of impact does the ImpactFool (IF) Fund focus on, and why?
The IF Fund utilizes Fool Community Foundation’s extensive research, expertise, and networks to identify “diamonds in the rough”: innovative nonprofits that hold great promise for impact at scale in the five areas that directly impact an individual’s ability to achieve Financial Freedom: Health, Education, Housing, Work, and Money.
Nearly 70% of our country is facing financial challenges that prevent them from reaching their full potential: people who struggle to pay the rent, who have to choose between paying a bill and putting food on the table or who are juggling their own education while also supporting others. They face real barriers and obstacles that set and keep them behind, with no end in sight.
We imagine a society where everyone benefits and everyone is invited to have an equal chance for a prosperous life – a place where all people have the ability to spend more money, save more money, and invest in themselves and their future without barriers. It’s a more robust, resilient economy that flourishes for the long term.
How can my organization apply to become an ImpactFool Nonprofit?
Applications are by invitation only.
Can for-profit organizations apply to participate in the IF Fund?
No. For now, the IF Fund will focus exclusively on nonprofit organizations.
What support does the IF Fund provide?
An Unrestricted Grant of $300,000: The IF Fund provides selected organizations with an unrestricted grant of $300,000, distributed in $100,000 increments for each year of our three-year formal engagement.
Operating Support: Each ImpactFool Nonprofit benefits from the support of a dedicated Scaling Partner. This expert in nonprofit management sits on the organization’s board of directors and works hand-in-hand with the nonprofit’s leadership to develop and execute an Annual Support Plan. The Plan is tailored to the specific needs of the organization and leverages:
- Expertise from The Motley Fool community, plus access to outside experts, providing help to address the nonprofit’s most critical needs. This could include areas like: strategic planning, marketing and communications, and fundraising.
Does the funding go to the organization or the individual?
The grant funding goes to the nonprofit organization, not the individual leader.
What is an ImpactFool Scaling Partner?
An ImpactFool Scaling Partner is an expert in nonprofit management who will work hand-in-hand with the nonprofit’s leadership to help them thrive.
Are there limits on how the grant funds can be used?
Grants to ImpactFool Nonprofits are unrestricted and can be used for both operational and programmatic costs. Like all donations, they should be used to further the nonprofit public mission. Funding cannot be used for political campaigns or legislative lobbying efforts.
Who can I contact with additional questions?
If you have questions or need any additional details about the IF Fund program, contact us.
