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Innovation fund call v1 ppt 5
1. Innovation Fund
Alliance for Global Good
Round One Request for Proposals
Questions and Answers
2. Innovation Fund leadership on this call
• David Brand: Chief Operating Officer, AFGG
35 year business experience; AFGG start-up co-founder.
• Jerry Chasen, Esq.: Vice President, AFGG
LL.M. in Estate Planning—philanthropic advisor and counselor; Founder
of the Advisors Project; Chair Community Projects Fund Distribution
Committee, Miami Foundation
• Rodney W. Nichols: Senior Advisor to AFGG
Past President, New York Academy of Sciences, and past VP and
Executive VP of Rockefeller University
• Susan Raymond, Ph.D.: Executive Vice President, Changing
Our World, Inc.
Design leader for Innovation Fund; experience at USAID and World
Bank in program/loan design and execution; extensively published on
philanthropic strategy
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3. Purpose of Innovation Fund
AFGG has created the Innovation Fund to enable
medium-sized U.S.-based nonprofits engaged in global
issues of health, education, environment, poverty, and
world relations to begin to develop mission-relevant
social finance mechanisms as part of their approach both
to their own revenue needs and to the sustainability of
programs that address the mission and problem-solving
programs of the nonprofit.
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4. Process for Round One
• RFP Available May 30
• Submission of Proposal June 27
• Review Completed August 1
• Notification of Finalists By August 15
• Concept Detail Pitches September 19-20
• Grant Announcements October 1
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5. Round One Reviewers
• Dr. Carol Adelman
Senior Fellow and Director of the Center for Global Prosperity of
the Hudson Institute; former Assistant Administrator of USAID.
Dr.P.H. from Johns Hopkins University.
• Richard Bendis
Founding President and CEO of Innovation America (IA);
President and CEO at BioHealth Innovation Inc.; Member of the
White House U.S. Innovation Partnership Advisory Task Force.
• Antony Bugg-Levine
CEO Nonprofit Finance Fund; former Managing Director at the
Rockefeller Foundation; Board Chair of the Global Impact
Investing Network.
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6. Structure of Q&A
• Revenue Criteria
• Program Content and Geography
• Application Process
• Grant Award
• Other
• Additional questions keyed in on prompt from
presentation.
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8. Question 1
Could you clarify the revenue size of eligible
nonprofits?
The Innovation Fund seeks to strengthen nonprofits
that, on average for the last five years, have had
annual revenue below $20 million and have been
revenue stable. We understand that there are
differences across years and understand that there
may be a 10% divergence above that $20 million level
(e.g., $2 million higher), but that is our target range.
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9. Question 2
Is there a minimum revenue size?
No. We care deeply about big ideas, even if the
organization is small. The review will, however,
carefully examine evidence of the viability of the
proposal in terms of capacity to execute.
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10. Question 3
Can an Institute of a University apply if its revenue is
within the acceptable range although the University is
not, and if the Institute is not a separate 501(c)3?
Yes. However, we would want to see that the Institute
is operated, in effect, as a wholly owned subsidiary
with programmatic independence. This also applies to
very large nonprofits which have internal subsidiaries
or members that are, in effect, independent, even if
they do not hold a separate 501(c)3 status.
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11. Question 4
Are there categories of revenue that can be deducted
from the total revenue size, e.g., revenue that is
passed through for rebates or the monetized value of
in-kind donations?
The Fund agrees that two categories of revenue can
be subtracted from total revenue in determining
eligibility:
• the monetized value of in-kind contributions
• contributions to dedicated scholarship funds
Other financial structure exceptions will be dealt with
on a case-by-case basis via email inquiry until June 15.
Answers will be circulated.
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12. Question 5
In terms of innovation, must this be in the area of
earnings, or does innovation in the investment of
assets qualify?
The goal of the Fund is to promote innovation in the
development of sustainable revenue sources.
Therefore, innovation in the use of assets to meet
revenue and mission needs qualifies as innovation for
purposes of the application.
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14. Question 6
Can an organization less than 10 years old apply?
The 10 year requirement is a safe harbor to focus on
organizations that are not start-up. If the applicant
can demonstrate stability and program maturity in
less than ten years, and has five years of stable
revenue (as is also required), then the application will
be considered.
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15. Question 7
What do you mean by “global”? Are there
geographic areas outside the United States that will
not be considered? Are there preferred sites?
We will not fund any activity that is in a nation on the
U.S. Treasury boycott list. There are no other
geographic preferences.
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16. Question 8
Can proposals be for programs within the United
States?
No. The program actions and effects must be abroad.
However, program management and administration
can, but does not have to, be in the United States.
Moreover, a partnership of a U.S. nonprofit with
domestic programs and a U.S. nonprofit with
international programs for an overseas initiative using
the capacities of both is well within the intent of the
Fund.
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17. Question 9
Must the program be within one of the areas, or can
it be across areas?
The Innovation Fund looks extremely favorably on
programs and strategies that are purposefully and
deeply inter-sectoral.
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18. Question 10
Please discuss more fully how advanced an initiative
must be to qualify for the competition.
The proposal should indicate the expected time frame
for implementation of the proposal. Ideally, the Fund
would anticipate the innovation would be
implemented within 6 – 12 months of the grantee’s
receipt of funds.
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19. Question 11
Are there restrictions on the use of funds?
Regarding various categories
• Market research can be funded if it is at-market
end-stage to finalize a strategy or product that is
revenue diversifying. However, the Fund is
focused on getting previously designed ideas to
market. Therefore, preliminary market research
would likely not be funded.
• See RFP for the restrictions on salary
allocations.
• Funds can be used to pay consultants or
professional advisors. Again, the distinction is at
the go-to-market phase.
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20. Question 12
Does this have to be a new funding stream, or can it
be an improvement to, or scale up of, an existing
innovation or a new application or version of an
existing innovation?
Adaptations or expansions of existing innovations are
within the interest areas of the Fund.
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21. Question 13
Can the innovation be focused on programs or
policies, rather than on finance or revenue?
No. The focus is on revenue diversification and
stabilization through strategies that are outside of
traditional charitable philanthropy.
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22. Question 14
What are the reporting requirements and
timeframes?
Brief letter reports will be due on a quarterly basis.
However, the Fund expects to be in regular contact
with its grantees to learn from, and disseminate, what
works and what doesn’t.
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23. Question 15
How specific does the quantitative measure of
impact have to be?
We leave this up to the applicant. Not all results can
be called “impacts” especially where problems are
extremely complex. However, assessment of
proposals will consider both how an organization
defines “results” and the quality of that data.
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25. Question 16
Must the proposal be submitted through the web-
based system?
Yes.
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26. Question 17
Are audited financial statements required? Can they
be submitted before the oral pitch if that coincides
with the fiscal year? Many small organizations do
not have these, but do have full Form 990 tax
submissions.
Where there is an audited financial statement, the
Fund requires the submission of the most recent one,
regardless of fiscal year. Where there is no audited
statement submitted, if the proposal gets to the pitch
stage, the financial statements will be vetted more
thoroughly and any financial issues arising may result
in withdrawal of the invitation to pitch.
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27. Question 18
How much detail is required relative to past studies
of innovation market and viability? Should studies be
attached?
Studies can be summarized such that the reviewers
can determine how close to implementation the
innovation is.
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28. Question 19
Are third party recommendations accepted?
Yes, if they are embedded in the proposal (taking into
account limitations on length of answers). They are
not required in the proposal stage. Of course, oral
pitch content can include as many endorsements as
desired. The critical element at all stages is the
quality and evidence relative to the initiative.
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29. Question 20
Is the oral pitch required?
Yes. It must be attended by senior executives as
described in the RFP. Travel expenses will not be
defrayed by the Fund. If long distances for primary
executives are an impediment, the Fund will discuss
alternatives (e.g., skype), but demonstration of the
commitment of executives and boards are required.
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31. Question 21
What is the minimum and maximum grant size?
There is no minimum. The maximum grant for Round
One is $60,000.
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32. Question 22
How many organizations do you expect will submit
funding requests and how many grants will be
awarded?
From this Round One cycle, no fewer than 3 grants will
be made. As this is the inaugural grant cycle, there is
no precedent from which to predict a likely number of
applicants.
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33. Question 23
What is the timeline for grant disbursement? How
long is the proposal for?
A proposal should outline the applicant’s optimum
timeline for receipt of funds. We are prepared to
provide three quarters of the amount funded when
the grant is made. The final quarter of funding will be
available at the start of the sixth month after the grant
award, but shall be tied to the organization’s receipt
of its matching funds.
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35. Question 24
Are there restrictions on partnerships with for-
profit organizations?
No. In fact, we would favor those in which the Fund is
leveraged by financial participation by such a partner.
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36. Question 25
Can an organization submit a proposal to help other
awardees scale their programs based on their
grants?
No. The funds are for direct initiative execution.
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37. Question 26
What is the time commitment for the mentoring
network?
This has not been specified. Round One awardees
would not be asked to be mentors until Round Three.
We would seek the guidance of Round One awardees
on the design of the program.
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38. Additional Questions
Please key in any additional questions now.
Questions and answers reviewed on today’s call will be posted on
the website. Additional questions can be submitted by email
through 5 pm (ET) Wednesday June, 13. 38
Notes de l'éditeur
Welcome. My name is Jerry Chasen, and I’m the Vice President of The Alliance for Global Good. The Alliance’s mission is to increase the efficiency, effectiveness and sustainability of nonprofits focused on solving global crises, so it’s no challenge to see how this fund helps to effect our mission. On behalf of the Alliance’s founder, NC philanthropist Leonard Kaplan, and our president & CEO, David Brand, I’m pleased and honored to welcome everyone to today’s call. We have a great deal to cover this morning, and I won’t take much time, but I’d be remiss if I didn’t acknowledge at the start the tremendous work done by Susan Raymond, Sophie Morrison, and the rest of the team at Changing Our World, in supporting the Alliance by designing and helpping to effect this first round of grants. Thank you.
The Fund leadership on the call reflects a diverse and appropriate background for the fund and its administration. The business background of David Brand, Alliance President, provides boots on the ground expertise in the realities of a sustainable business environment. Rod Nichols’ background has placed him squarely in the environment of innovation and evolution particularly from a scientific perspective. Susan Raymond’s international and philanthropic expertise are the ideal background for this globally focused initiative.
This statement of the Innovation Fund’s purpose both explains what results the Alliance seeks with this fund, and highlights the subjects that are the focus of most of the questions that we’ll cover this morning.
Our timetable is relatively straightforward. After the proposals have been submitted, they will be reviewed by staff for both compliance and basic content. Those proposals meeting the stated criteria will be forwarded to three independent, outside reviewers, who will complete their review by August 1. Notification of the results of the initial review will be shared no later than August 15. The xx to yy finalists selected will be invited to present their proposal in detail and orally to a Review Board comprised of additional independent outside advisors, AFGG executives and selected Innovation Fund investors. To be clear—this presentation is required for funding Presentations will be in NY, on Sept. 19 and 20, 2012. Announcement of the grant recipients will be made on or around October 1.
The individuals acting as Round One Reviewers again reflect a diverse and appropriate background for the fund. Dr. Adelman’s background in Global Development, Mr. Bendis’s focus on innovation, and Mr. Bugg-Levine’s experience in impact investments add tremendous depth to the evaluation effort and we are most fortunate to have their participation.
Our call today will first address those questions which we received prior to the posted deadline of 5pm last Thursday, June 7. It will focus on 4 key subject areas, another that is sort of a grabbag, and time permitted, we will address those questions that were submitted after that deadline. Let me add also that today’s presentation will be posted on the Alliance Website today after the call. In addition, additional questions can be submitted by email to innovation@AFGG.orgthrough 5 pm (ET) Wednesday June13. Written response to these and the other questions not included in this presentation will be posted on the Alliance Website by 5 pm on Friday, June 15. With that, let me introduce Susan Raymond, who will guide usthru the questions and answers.
