The James S. McDonnell Foundation is seeking applications that propose innovative, sustainable, and scalable approaches to wealth building and preservation for JSMF priority communities and groups.
County: Saint Louis City (MO), Saint Louis County (MO)
Type of Grant: Grant
Deadline: 08/30/2024
Size of the Grant: $500,000 to $1 million
Grant Duration: 3 Years
Details:
These include the City of St. Louis and North St. Louis County, with a focus on low and moderate-income individuals and families, and Black and historically marginalized groups, including immigrants.
Objectives
Increase the number of individuals and families in JSMF priority communities and groups served by proposed financial products, services, or practices.
Increase in wealth and preservation of wealth for individuals and families.
Successful proposals will present concepts aligned with one or more of the following tactics, which support strategic framework for helping individuals and communities build and protect wealth within our priority communities and groups
Tactic A:
Increase access to existing or new low-cost, low-barrier financial products and services that drive asset attainment, growth, and preservation.
Tactic B:
Build the capacity of community-based organizations and financial institutions to support wealth building and preservation.
Tactic C:
Attract new investment capital to disinvested communities in the City of St. Louis and North St. Louis County.
The foundation fully expect proposals will go beyond these examples.
Developing new loan products to scale homeownership.
Providing private equity access for companies owned by people of color.
Adjusting financial products to support small and diverse-owned business success.
Creating investment products and services that increase ownership in financial markets.
Supporting the adoption of employee ownership business models.
Implementing systemic changes to credit building.
Funding Information
Awards totaling $1.8 million.
Two to four grants ranging from $450,000 to $900,000.
Most grants will be awarded for one to three years.
Criteria
Develop innovative financial products, services, or practices to create and preserve wealth in JSMF priority populations.
Potential for scalability and sustainability of the proposed approach.
Align with JSMF’s mission and guiding principles.
Applicants must be a 501(c)3 or have a fiscal sponsor.
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