Local Foundation Provides Awards to Four Innovative Social Enterprises
Salt Lake City— On November 8th, the Community Foundation of Utah (CFU) hosted the tenth Social Investors Forum (SIF), a pitch event designed to identify and fund innovative ideas that aim to solve complex social problems. After diligent deliberation from the SIF Investment Committee, CFU offered four awards to local social enterprises:
· First Star Academy was offered a three-year matching grant totaling $30,000 to support foster youth as they pursue a college degree.
· Hello!Bulk is in the process of receiving a no-interest loan to provide a vehicle for their zero-waste grocery store.
· One Small Miracle was offered mentorship to support their business model that provides financial support to service industry workers after life-altering medical events.
· The Family Place was offered mentorship to develop a social enterprise model that supports their mission of strengthening families and protecting children.
Prior to each Forum, nonprofits and social enterprises from across the state are invited to submit a call for investments, and a select few finalists are chosen to pitch live to an Investment Committee of entrepreneurs and business professionals. Winning pitches feature a combination of inventive solutions to community issues, coupled with strategies to ensure long-term financial sustainability. Since 2014, the program has awarded over $528,500 to Utah nonprofits and social enterprises.
“The Social Investors Forum brings the community together to support nonprofits that are changing our sector for the better through innovation, sustainability, and impact,” said Alex Eaton, Chief Executive Officer at CFU. “We’re so excited to support multiple organizations throughout the state from this funding cycle, and we look forward to their continued success.”
The Fall 2019 SIF was sponsored by Morgan Stanley and Kiln. This initiative runs bi-annually, and the eleventh SIF will be held in June 2020. For more information please visit: https://utahcf.org/community-impact/social-investors-forum
About the Community Foundation of Utah
The Community Foundation of Utah is a 501(c)(3) nonprofit grantmaker and serves as Utah’s catalyst for philanthropy by fostering accessible, collaborative, and innovative giving in our communities, now and for generations to come. Since establishment in 2008, the organization has fostered nonpartisan community partnership and has facilitated over $55 million in grants to Utah’s nonprofit sector. For more information, go to www.utahcf.org, call 801.559.3005, or email email@example.com.