At a White House ceremony last week, First Lady Michelle Obama recognized the Skoll Foundation as one of five private foundations who are committing a total of $45 million to support the Social Innovation Fund (SIF).
The Foundation s committing $10 million over two years to support the (SIF), a new competitive grant program housed at the Corporation for National ad Community Service.
The Foundation’s funding is meant to encourage social innovation and enable demonstrated solutions, with evidence of impact, to scale. The resources will be distributed by intermediaries and may be used as matching funds for organizations receiving SIF grants or by other innovative organizations that address three areas of priority: economic opportunity, healthy futures, and youth development and school support.
Ben Binswanger, the Foundation’s Vice President for Programs & Impact, represented the foundation at the White House ceremony and said, “The creation of the Office of Social Innovation and Civic Participation and the deployment of the Social Innovation Fund mark a watershed moment for social entrepreneurs everywhere. We’ve long understood that social entrepreneurs can catalyze impact on critical issues. Now that notion is being embraced by nonprofits, business and government.”