Deadline: 16-Nov-23
Pathway Fund, a new Black and Global Majority-led social investment wholesaler, is collaborating with open innovation organisation, Do It Now Now (DiNN), to deliver a cutting-edge enterprise development programme supporting Black and Global Majority-led charities and social enterprises.
Make it Big addresses the gap in the sector for supporting social investment readiness and systems change for Black and Global Majority-led charities and social enterprises. Existing non-profits need support to grow sustainably and through this programme they can co-produce equitable systems benefiting themselves and the sector. These organisations will be empowered to engage directly with decision makers in their ecosystems, putting them on the path to innovate their organisations as well as the landscape of Black and Global Majority leadership.
Focus Areas
- The fund will focus on two impact areas:
- Climate and Racial Equity
- Poverty Alleviation and Racial Equity
Funding Information
- ‘Make It Big with Pathway Fund’ will provide 12 UK-based charities and enterprises with £30,000 grant funding, bespoke support and training.
What will they fund?
- They are interested in funding enterprise projects that are able to solve a problem in the climate, poverty alleviation and racial justice sectors. They are looking for existing charities and social enterprises that have a good track record of activity in this area of work and are going to utilise the grant funding and support they provide to further develop their work with the intention to scale it to larger populations within 24-36 months.
What will they not fund?
- Please note that funding cannot be used for activities that promote religious or political purposes. If you are a faith-based organisation, you can apply but your services must be open to people of all or no faith.
Eligibility Criteria
- Legal Incorporation
- Organisations must be legally incorporated as a Charity, Community Interest Company or Community Benefit Society.
- Organisations must have a clearly stated mission to support issues impacting Black and Global Majority Communities (indicated in your organisation’s governing/constitutional documents).
- Organisations must reinvest at least 51% of surpluses into pursuing their social mission and have a constitutional or contractual lock on their social mission, dividend, and surplus distribution policy (also known as an asset lock.
- Geography
- Organisations must be based in and operating in one of the following locations: Greater London, Nottingham, West Yorkshire, Greater Manchester.
- Leadership
- 75% of the organisation’s Directors, Trustees or equivalent Governing Body members must represent Black and Global Majority Communities. (The percentage is in line with the DEI Data Standard, if this percentage is not met because the Board is too small or other reasons, you may still be eligible, as long as the decision-making is led by people from Black and Global Majoritycommunities).
- 51% of leadership/senior management must represent Black and Global Majority Communities.
- There must be a clear commitment from senior management and the Board to income diversification, with a healthy risk appetite and interest to diversify from grant dependency through increased trading income and social investment.
- Finance
- Organisations must be generating an annual income between £100k and £500k.
- Organisations must be able to provide at least the last 2 years’ full accounts as submitted to Companies House/Charity Commission and provide an annual budget and cash flow projections.
- For organisations that are looking to acquire capital assets, their capital assets must be: (1) Freehold or have at least 20-year lease. (2) Be in negotiation of asset transfer for at least 6 months.
For more information, visit Do it Now Now.