What we’re looking for in an ImpactFool Nonprofit:
- An early-stage nonprofit, probably founder-led (but not necessarily)
- Great potential for large-scale impact
- Focused on helping individuals, who live paycheck to paycheck, take their next step toward Financial Freedom
- Deploys an innovative approach to addressing systemic challenges
Our Selection Process
NOMINATIONS
Anyone, including Fool members, board members, program partners, nonprofit leaders themselves, or other interested parties can nominate a nonprofit for consideration. There is no limit on the number of nominations someone can make, but nominators must supply all of the requested information on the nomination form, or it will be discarded. You’ll receive a confirmation email for each completed nomination you submit.
INITIAL REVIEW
The Motley Fool Foundation team will review all nominations we receive. The nominations our team deems to be the most qualified nonprofits will be invited to submit a full application.
APPLICATION AND VIDEO PITCH
Selected nonprofit nominees will be invited to submit a detailed funding application, and a 2-minute video pitch. Answer the application questions thoroughly and follow our template to create a compelling video. Nonprofits should plan for 90 minutes to complete the application.
IN-PERSON INTERVIEWS
Selected semi-finalists will be invited to Fool HQ in Alexandria, Virginia for in-person interviews.
SELECTION
We expect our first ImpactFool Nonprofits to be announced in the fall of 2024.
THREE-YEAR RELATIONSHIP BEGINS
In late 2024, our ImpactFool Nonprofits will receive their first $100,000 (once annually for a term of three years) and begin their engagement with our Scaling Partner and expert teams.
Our Selection Criteria
We aim to select organizations that generally have the following qualities. We will consider all great organizations and evaluate each one independently.
The Organization
Is a US-based 501c3 nonprofit based in the Greater Washington, DC area that can provide:
- Their most recent 990
- Proof of exempt status
- The last two years of audited financials
Is working to impact one or more of the following drivers of Financial Freedom:
- (1) health, (2) education, (3) housing, (4) work, and (5) money
- Delivers programs specifically focused on Americans living paycheck to paycheck
Has 1-10 years of operating history with:
- An annual budget of over $1M (NOTE: We will prioritize nonprofits with budgets of $1,000,000 to $3,000,000, but welcome larger organizations as well.)
- An articulated model for measuring impact
Is built on an innovative idea, which can be demonstrated by one or more of the following:
- Improves or builds upon an existing service model
- Introduces an existing model into a new context
- Challenges assumptions and tests out new approaches
Has a scalable business model proven by one or more of the following:
- Potential to expand existing offerings and/or grow to new geographies
- Potential for other organizations to adopt the model
- Potential to integrate with other organizations
The Nonprofit’s Leader
An expert on the issue who is close to the community they serve, and:
- Has a deep conviction and passion for the issue they committed to addressing.
- Is aligned with the Fool values of collaboration, innovation, competitiveness, and honesty.
- Is eager to be part of a cohort of peers to share knowledge, best practices, lessons learned, and participate in our Annual Meeting.
