Social Enterprise Entrepreneurship Development Project Grants(US)

Deadline: 12-May-22

The New Jersey Office of Faith-Based Initiatives (OFBI) is currently seeking applications for its Social Enterprise Entrepreneurship Development (SE2D) Project Grants to eliminate barriers to funding and other resource opportunities, create greater access for partnership, and enhance the capacity of faith and community-based organizations (FBCOs) to create and implement innovative approaches that are designed for community and economic transformation.

The NJOFBI will partner with faith and community-based organizations to implement strategies that address social issues in new and exciting ways. More than ever nonprofit leaders need to be entrepreneurs.

Categories

SE2D Growth will provide capital formation investments (grants) to existing SEVs with the intent to leverage the SE2D Projects capital investment with other private investments designed to grow and eventually scale the enterprise.
SE2D Project I
- Must provide a 50 in-kind match based on the requested funding amount.
- SEV must be beyond the prototype and testing phase and must be at the growth phase;
- They must have been in operation for at least 1 – 3 years;
- Currently generates revenue;
- Participate in mandatory capacity building entrepreneur training;
  - The cost for the business plan development training will be incorporated into the SE2D Project budget at $700 per organization.
SE2 D Start-up will provide capacity-building capital to nonprofit organizations that are in the emergent stage of forming SEVs and require intensive training and technical assistance, business plan development, and executive staff mentoring, in an effort to move them from the idea creation phase to the mission phase. The mission phase is the prototyping and testing of their social value proposition based on the recognition of an opportunity.
SE2D Project II
- Must provide a 50 percent in-kind match based on the requested funding amount.
- Must commit to attending mandatory capacity building entrepreneur training sessions;
  - Two-Day Social Entrepreneur Boot Camp (SEBC). SEBC is designed to immerse SE2DProject II participants in the theoretical understanding and practical application of what is a SEV and what’s its role in embracing business concepts and market forces for the creation of innovative approaches to address social issues;
  - Participation by the organization’s executive director, board president, board treasurer and board secretary are mandatory.
- The business plan development training is designed to help SE2 D Project II participants create compelling business plans that allow them to access working capital;
  - Participation by the organization’s executive director, board president, board treasurer, and board secretary is mandatory
- The cost for both the boot camp and the business plan development training will be incorporated into the SE2D Project II budget at $1,400 per organization.

Funding Information

The funding period is from July 1, 2022, to June 30, 2023.
SE2D Growth
- Maximum Request: $25,000
- Total Funding Available: $50,000
SE2D Start-up
- Maximum Request: $15,000
- Total Funding Available: $105,000

Eligibility Criteria

Applicant must:
- Applicants must be a non-profit Faith and/or Community-Based Organization serving low-income residents;
- Applicants must be tax-exempt by determination of the Internal Revenue Service in accordance with Section 501(c)(3) and upload their IRS Determination Letter that states that the organization is created for charitable purposes and not for religious purposes;
- Applicants must be registered with the NJ Division of Consumer Affairs and have a valid Charity Registration Number and be IN Compliance with the New Jersey Division of Consumer Affairs, Charitable Registration and Investigation Section
- Be registered with the NJ Department of Treasury – Division of Revenue and Enterprise Services and must have a valid Business Revenue Number;
- Be in Good Standing with the Department of Treasury – Business Service Center
- Applicants must have their Certificate of Incorporation.

Ineligible Applicants