May 1, 2009 | Read Time: 1 minute
Andrew Wolk, chief executive of Root Cause, is looking for ideas on how to structure the Social Innovation Funds program that was set up by the Serve America Act, the national-service bill that President Obama signed last week.
Mr. Wolk says on his blog that he will be leading a discussion with the Corporation for National and Community Service on the topic in Washington on Monday.
The funds will be combined with private money to help nonprofit groups expand or start innovative programs for tackling social problems.
Mr. Wolk, whose group provides money and consulting services to nonprofit organizations, says he has proposed drawing from two existing models:
- Small Business Investment Company funds, which are set up under the federal Small Business Administration to provide public and private money to small companies.
- Venture philanthropy and social venture capital, which use the principles of venture capital to support, respectively, nonprofit and for-profit social-entrepreneurial organizations.
If you have ideas about how the social innovation funds could be structured, share your thoughts by clicking on the Comment link below.
The Corporation for National and Community Service, which will manage the funds, is also holding a series of listening tours about the Serve America Act.
