the marigold effect to make 10 mini-grants of $5K for DC-area wealth-building organizations
Black-, Latino-, immigrant-, & women-led nonprofits encouraged to apply. Deadline 12/16/2022.
Wealth is where economic opportunity lies.
For an individual or family, wealth isn’t just money in a bank, it’s
capital to take a risk on leaving a job that comes with a paycheck to build a business,
insurance against hardships,
educational opportunities and resources that can set your financial situation on a different trajectory,
access to services that allow for better health and psychological well-being.
The Marigold Effect will make up to 10 mini-grants of $5,000 each to DC/Maryland/Virginia-based non-profit organizations addressing racial and gender wealth gaps for individuals, families, and/or communities in the Washington metropolitan area.
If you know any organizations working to increase economic mobility or build wealth among Black, Latino, immigrant, and/or historically underserved individuals, families, and/or communities here in the Washington metropolitan area, please forward this along. The application and strings attached are minimal for this modest award.
The application deadline is 12/16/2022. Applicants will be notified by 1/17/2023. Black-, Latino-, immigrant-, and women-led organizations are especially encouraged to apply.
Questions? nonprofits@marigoldeffect.co
About the opportunity
Eligibility
If your organization can check these three boxes, then you’re eligible to apply.
Nonprofit organization with a primary business address in the District of Columbia, Virginia, or Maryland.
At least part of the organization’s work is to increase economic mobility or build wealth among Black, Latino, immigrant, and/or historically underserved individuals, families, and/or communities here in the Washington metropolitan area.
The organization has operated for at least one full year.
Application requirements
Submit a complete online application form by 11:59:59 pm on December 16, 2022.
Commitments to do the following if awarded a mini-grant:
Provide The Marigold Effect with all necessary information for the organization to receive a transfer of $5,000 within 30 calendar days of notice of award;
Participate in 2 conversations over the course of 2023 with The Marigold Effect staff and/or other mini-grant awardees;
Acknowledge The Marigold Effect among 2023 donors.
Selection process
Applications will be reviewed for mission alignment, strength of leadership team, and proposed use of the $5,000. The Marigold Effect will aim to select a diversity of awardees based on mission focus (the approach to wealth-building and economic mobility), population focus (wealth building among whom), financial need, and evidence of impact. Depending on the volume of applications, applicants may be asked to participate in a 30-minute-or-less conversation before awards are made. The Marigold Effect will notify all applicants of award status by January 17, 2023.
About The Marigold Effect
The Marigold Effect uses the tools of advising, investing, and storytelling to help small businesses and social justice-focused organizations grow.
ADVISING: Tailored advice and executable strategies for growth. Potential topics: reducing operating costs, increasing revenue, accelerating customer acquisition, raising capital from public and private sources, growth projections, business plans, buying or selling existing businesses, human resources, and risk mitigation.
INVESTING: Portfolio focused on economic justice, social impact real estate, and mission-oriented enterprises.
STORYTELLING: Photography, research, and writing to inspire, educate, and advance justice.
FAQ
What do you mean by wealth-building and economic mobility?
We are firm believers in innovation, especially for nonprofits seeking to challenge systemic issues. Non-exclusive examples of focus areas (affordable capital, asset ownership (e.g. home or business real estate ownership), small business, workforce development, entrepreneurship, and financial inclusion)
What are allowable uses of the funds?
This funding can be used for existing or new projects within your organization.
Grant funds are unrestricted beyond the legal constraints of maintaining IRS 501(c)(3) status.
When is the application deadline?
11:59:59 pm on December 16, 2022.
When will my organization know if we received a grant award?
Applicants will be notified by January 17, 2023.
Are there any reporting requirements?
There are no formal reporting requirements.
Awardees are requested to:
Participate in 2 conversations over the course of 2023 with The Marigold Effect staff and/or other mini-grant awardees.
Acknowledge The Marigold Effect among 2023 donors.
Can a new organization qualify?
This funding is intended for organizations in operation for at least one full year.
Can an applicant use a fiscal sponsor?
Yes, as long as the applying organization can provide its sponsorship agreement and the fiscal sponsor’s 990 filed for 2021.
Is there a guideline on the size or budget of the applying organization?
There is no specific guideline. It is most important that the organization demonstrates the ability to use the grant funding to close racial and/or gender wealth gaps.
Is there a geographic restriction for this grant?
Organizations must be located in or serve residents of the District of Columbia, Maryland, or Virginia.
Can we submit more than one application?
Organizations can submit one application per Employer Identification Number (EIN).
Contact
Contact nonprofits@marigoldeffect.co with any questions or to update your application if you’ve already submitted it.
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