Deadline: 3-Nov-23
Common Future is accepting applications to support organizations developing models to close the racial wealth gap by removing social, financial, and political barriers that stand in the way of transformative change.
Through the three-month long accelerator program, Common Future invests in a cohort of 10 BIPOC women- and non-binary-led organizations that are actively working to dismantle economic inequality by giving power back to communities left out of prosperity.
Benefits
- Unrestricted $50K Grant:
- Each selected organization will receive an unrestricted grant of $50,000. This grant will be distributed in two installments of $25K each, one in March 2024 and one at the end of the program in June 2024. Participants may use this grant as they see fit, Common Future does not have any requirements on the allocation of these funds.
- Customized Curriculum:
- During the three-month intensive part of the program, cohort participants will attend weekly workshops covering topics that are instrumental to helping projects gain clarity and grow sustainably. Common Future will deliver some curriculum as well as bring in third-party trainers and experts.
- Program Coaching:
- Common Future provides ongoing remote support to organizations, ensuring that they hit their strategic goals and receive timely support as they encounter new challenges and opportunities. Remote support is organized by the Common Future program team through progress calls twice per month.
- Executive Coaching:
- This program provides matches to one-on-one executive coaches to up to two participants per organization. Executive coaches are a way to develop leadership skills by growing awareness, expanding perspective, and enlarging the capacity to think strategically. Participants will receive six sessions.
- Peer-to-Peer Support:
- Cohort participants come together to provide support, share learning, build thought partnership, ask questions, and offer advice. Group members can connect to bring collective ideas to life and collaborate with one another.
- Relevant Cohort Experts:
- Common Future connects program participants to people who can offer timely advice and support in specific areas or around specific issues (think: help building a hiring plan, or understanding economic policy actions) to help participants overcome immediate barriers to progress. These relationships tend to be time-bound and tactical.
- World-Class Mentorship:
- Common Future connects program participants to people who can provoke thought and growth around transformational needs like organizational strategy, systems thinking, a particular subject matter area, or having ‘been there’. Common Future intends to make curated introductions to people who can be thought partners for program participants and be the catalyst for deep, lasting relationships that far outlast the program.
- Pro-bono and Discounted Legal Services:
- Through partnerships and preferred providers, Common Future can connect organizations with various legal resources. This resource may include basic free legal assistance, pro-bono support, recommendations, and discounted services for registered and fiscally-sponsored 501(c)3 cohort participants.
- Financial Experts:
- Common Future hires financial experts to work with participating organizations on their personal or organizational finances through the partnership with CHIP Professionals. The financial experts are strongest in financial modeling, and accounting processes (transitioning to QuickBooks, etc). Each participant has up to 20 hours of contract work and consultation from an expert and can choose when and how it makes the most sense to engage them in a project.
- Office Hour Curriculum:
- Webinars, self-guided lessons, toolkits, templates, and more are at participants’ disposal to use for individual needs. Resources include, for example, sample pitch decks, hiring and HR templates, guided activities on creating mission, vision, and value statements, cheat sheets on types of capital to raise, and more.
- Mental Health Support:
- Through their partnership with Betterhelp, all participants will have access to 6 months of free online therapy in addition to mental health and wellness check-ins throughout the program.
- Storytelling Support:
- Through a curated curriculum, the Common Future team is dedicated to supporting organizations to create a clear and concise story and pitch to unlock opportunities from hiring the best team, to fundraising and business development. Additional opportunities will be provided by their partners The OpEd Project to continue the entrepreneurs’ journey after the program ends.
Eligibility Criteria
- Program Eligibility
- Based in the United States, with direct impact in the U.S.
- Incorporation agnostic (nonprofit, for profits etc.).
- BIPOC women and non-binary-led organizations
- Available for required virtual selection boot camp January 30 & 31.
- Available for required in person session in April and July 2024
- Travel & Stay costs are covered by Common Future
- Community and Mission Aligned: Solutions Closing the Racial Wealth Gap
- Increasing Access to capital & resources
- Increasing affordability of capital
- Building power, choice and ownership for BIPOC communities
- Impacted communities are integral to the solution
- Organization Stage: Models or Solutions that are Designed and Tested.
- Organizations that are operating with budgets less than $2M
- There has to be some traction of people, idea, and/or organization (or the right combination)
- Have secured funding but are seeking to be capital-ready for growth.
- Full-time leaders of organizations or leaders of organizations with a clear plan to lead full time.
- Radical and Transformative:
- Ready to influence/scale, and understand how the work fits into the larger system.
- Are on a path or have a strategy to create a sustainable organization with longevity.
For more information, visit Common Future.