At the core of what we do is help nonprofits and social enterprises scale their impact and achieve their mission. And, we know that sometimes it requires additional funding to ramp-up. As part of our effort to support the communities we serve and the partners we work with, we have setup our Impakt Fund to reinvest in organizations that we believe are tackling core issues and truly making a meaningful impact.
Where does the funding come from?
We reinvest 25% of our profit gained from our work as Impaktfel.
How much and when?
We accept applications on a rolling basis and distribute funds semi-annually. Our next round of funds will be released in March 2019. Our typical investment is in the range from $500 to $5,000, with amounts varying based on our profit.
Who is eligible?
We’re going to keep it simple. If you meet the following criteria, you are eligible to apply for funding:
- You operate in the Chicagoland area
- Your work makes a positive social impact in the community
- You have been in operation for over one year when submitting
How do we evaluate your organization?
We make decisions on who to fund based on the following evaluation criteria:
- Impakt – are you tackling issues at their root cause and making a meaningful impact?
- Innovation – are you tackling a core issue in a new way or open to innovation?
- Openness – do you have a strong network of partners helping you achieve your mission?
- Goal – how are you planning on using the funding and how does it tie into your mission?
Finalists for funding will be invited to an in-person discovery session. In that session, we’ll ensure you are on good footing to use the funding most effectively.
What happens if you receive funding?
You’ll receive a contract to sign that includes agreed upon regular check-in meetings. In those check-ins, the Impaktfel team will be available to provide guidance and expertise to help ensure you maximize your impact, while also seeing how you are progressing.
Submit your request for funding and we’ll do our best to respond in 2 business days about next steps.