Thursday, May 23, 2013

DC Council approves $15 million competitive fund for nonprofits in FY 2014

The DC Council voted May 22 in support of Mayor Gray's proposed $15 million fund for nonprofits to benefit DC residents.   While Mayor Gray called the fund the One City Fund, the DC Council renamed it; the new name is "Innovation Fund."   The draft FY 2014 budget support act committee report says this about the fund:
Subtitle B. Innovation Fund Establishment: establishes the Innovation Fund and designates a grant managing entity to make sub-grants from the Fund for the purpose of promoting a growing economy, educational improvement, increasing sustainability, and improving the quality of life for all residents.

The DC Council made no other changes to the fund other than the name.   The BSA voted on by the DC Council (draft Committee Print, Subtitle B. Innovation Fund Establishment excerpt) May 22 retains the Community Foundation as the granting agency, the focus issue areas, funding for capacity building and operations, evaluations, nonprofit audit requirements, and other provisions.

Many thanks to those who advocated tirelessly in support of the fund.

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