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Lasting Impact Through Systems Change Grant Program

Grants to USA, Canada, and International Organizations to
Improve the Financial System in Underserved Communities

Agency Type:

Foundation / Corporation

Funding Source:

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Sorenson Impact Foundation (SIF)

Deadline Date:

07/30/21 5:00 PM Eastern time

Description:

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Grants to USA, Canada, and international organizations to introduce financial system reform in underserved and underrepresented communities. Funding is intended to increase banking services and make them more accessible, and to connect entrepreneurs to investors so entrepreneurs can create economic growth in their communities.

This year, SIF’s grant program is titled Lasting Impact Through Systems Change and is focused on supporting innovations that have the power to create sustainable, positive change by improving one of the most critical underlying systems in the US: the financial system. Systems change is viewed as the key to lasting impact as, through improving the systems that underly the way people live, the Foundation can improve society as a whole. The Foundation's goal through this year’s grant program is to contribute to creating financial systems that work better, and for more people. Specific areas of focus, including example project areas for illustration, are listed below. Please note that the example projects are directional only; as a Foundation that values scalable innovation, the Foundation is eager to see proposals for game-changing, new solutions.

SIF is seeking proposals for projects addressing the following areas:

  1. Innovations in Community Investing for Underserved Areas 
  2. Democratizing Access to Investment Capital

For more information on these areas, see: https://sorensonimpactfoundation.org/wp-content/uploads/2021/05/Sorenson-Lasting-Impact-Through-Systems-Change-Grant_RFP_2021.pdf#page=1

Submissions will be read by SIF’s board of directors and staff for:

  • Solutions can be focused on the United States or globally
  • Solutions must be targeting underserved and underrepresented communities
  • Strength and readiness of applicant organization and team
  • Potential for high impact
  • Alignment with the foundation’s stated grant priorities
  • Potential to be a sustainable solution after grant funding has been used
  • Scale and reach potential including potential number of people impacted over the next five and ten years. The Foundation does consider pilots that could be a model for scale as long as those pilots consider how they’d disseminate learnings to expand their impact
  • Innovation and incorporation of learnings from the attempts of others to tackle similar problems in the past
  • Strength of partnerships and network within the industry to grow and expand
  • Strategy’s focus on coordination and collaboration as well as an ability to leverage existing solutions and progress

Please note that the Foundation wishes to fund specific projects, pilots and innovations, not organizational operating budgets for this grant program.

GrantWatch ID#:

GrantWatch ID#: 191605

Estimated Size of Grant:

Awards will range in size from $25,000 to $250,000.

Additional Eligibility Criteria:

Organizations may apply.

- Solutions can be focused on the United States or globally.
- Solutions must be targeting underserved and underrepresented communities.

Pre-Application Information:

The RFP submission period will open on Monday, May 3, 2021 and close on July 30, 2021 at 5:00 PM Eastern Time. To be considered, submissions must be uploaded through the online submission form (link below).

If selected as a finalist, applicants will be notified via email by the end of October. Final awards will be made starting in November 2021 on a milestone basis.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Apply Online:
https://docs.google.com/forms/d/e/1FAIpQLSelDeQOMfpMiNDAgeglLra9INXy4-5waDIxCksYE8Z19ghy2A/viewform

Address
2755 E Cottonwood Pkwy, Suite 500
Salt Lake City, UT 84121

Phone: 801.490.1003
Fax: 801.490.1014
Email: info@sorensonimpactfoundation.org

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

USA Territories: American Samoa (USA)   Guam (USA)   Puerto Rico (USA)   Virgin Islands (USA)   Northern Mariana Islands (USA)

USA Compact Free Associations: The Federated States of Micronesia (USA)   Marshall Islands (USA)   Republic of Palau (USA)

Canada: Alberta;   British Columbia;   Manitoba;   New Brunswick;   Newfoundland and Labrador;   Northwest Territories;   Nova Scotia;   Nunavut;   Ontario;   Prince Edward Island;   Quebec;   Saskatchewan;   Yukon;

Israel

International country outside of the USA, Israel and Canada.

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