• Description     • Criteria       • Little Kids Rock

The Kenneth A. Picerne Foundation works closely with social entrepreneurs during the growth phase of their non-profit organization's development. These entrepreneurs have a track record of demonstrated success and high potential for growth and social impact. The Opportunity Less than 2% of all philanthropic dollars go to start-up social ventures. The most critical gap is for startups with 2-3 years of initial success that are entering the growth stage. There is virtually no capital market structure to support social entrepreneurs such as exists in the for-profit venture capital and equity markets. Debt capital is also rarely an option for startups as they have no assets and little profit/loss history. Small and medium size non-profits must continually compete for small annual grants and donations from multiple sources to survive. Committed significant long-term funding is rarely available for these nonprofits. Operating or unrestricted funds to build capacity are rarely available to nonprofits. The vast majority of funding is directed and programmatic. The Objectives Create a venture philanthropy fund that will provide significant growth capital for successful nonprofit social entrepreneurial startups in their 3-6 year of operations. Support the development of innovative, impactful nonprofit service programs in human development, art, education and health. Create a sustaining nonprofit funding model that includes venture philanthropy concepts (engaged, long-term, non-directed funding) and sequential funders (i.e., start-up, mezzanine and mature funders). The Project Prior to creating a venture philanthropy equity fund, the Foundation will conduct a pilot program. The Foundation will provide long-term funding to support two social entrepreneurs in the growth phase of their development. These are individuals who have a 3-6 year track record of demonstrated success and high potential for growth and social impact. Funding will be awarded for 3 years and reviewed annually. Funding of up to $100,000 per year in unrestricted dollars will be awarded to each entrepreneur selected. The Foundation will be highly engaged with the entrepreneur and will provide ongoing coaching, management consultation, organizational development, administrative training and development/fundraising assistance to the nonprofit. If the pilot is deemed successful, KAPF will then leverage its investment by soliciting funding from like-minded, successful for-profit investors and entrepreneurs to expand the scope of the program. KAPF will administer and manage the fund. Click Here for Eligibility Criteria