IMPACT YEAR IN REVIEW

YOUR SUPPORT MADE A DIFFERENCE!

Direct cash assistance provides Hope

by James McClair

I recently heard something that resonates for me as I have looked back on this year: Hope is vital to navigating difficult, challenging and unknown times. We can attest that there is truth to this. This hope has come from our local and state communities through both public and private means.  The response has been amazing and it is this effort that will determine how we recover from the pandemic.

Impact Charitable is humbled and proud to be a catalyst for the recovery efforts  in Colorado. We are excited to launch a number of new initiatives with and for our Donors that will continue to provide hope and the impact that you want to see in your community. I hope you find the stories below interesting, hopeful and maybe inspirational as you decide how you would like to tell your story with us.

THIS YEAR’S

TOP STORIES

IMPACT CHARITABLE CATALYZES OVER $10M IN DIRECT CASH ASSISTANCE THROUGH THE

LEFT BEHIND WORKERS FUND.

In March of this year, a conversation between two donors sparked a “movement”!   Realizing that many Colorado workers impacted by COVID-19 were not eligible for the various federal stimulus programs made available through the CARES Act, donors opened the Left Behind Workers fund, a Special Purpose Fund through Impact Charitable, with an initial goal of raising $250k to provide the state’s first private Direct Cash Assistance program.   Partnering with numerous nonprofits and community based organizations, and made possible with volunteer efforts from Social Venture Partners, initial investment by funders from Social Venture Partners, DAF holders at Impact Charitable, The Denver Foundation and The Rose Foundation, the LBWF managed to reach hundreds of individuals across the state with $1000 in emergency cash assistance, providing a much needed “lifeline” for individuals and families.  As Mark Newhouse, fund co-founder and Impact Charitable board member, began to sell others on the fund, word spread and within a few months, the original goal was met.  Then word spread that the LBWF was meeting a critical need in the community through an innovative approach to providing direct cash assistance and other funders, private and public alike, joined in.  By June, $4million had been raised and in September the State of Colorado, began to ask about whether the fund and the capabilities it had developed could be leveraged to provide rent assistance, on behalf of individuals, directly to landlords.  Within thirty days, the fund issued its first direct rental assistance payments.  To date, the LBWF  has leveraged the collective effort of numerous volunteers, private and public funders, AidKit Technologies and over 25 community based-organizations to realize the following:

LBWF DIRECT CASH ASSISTANCE:

As of 12-21-2020, $9,067,000 distributed, 9,067 people have received direct cash grants of $1,000 | 16,080 Children benefiting | 39 Colorado Counties assisted

Reported Fund use:

63% Housing

19% Bill/Healthcare/Utilities

14% Food

RENTAL ASSISTANCE

As of 12-21-2020 2.5 Million in funds have been committed to 939 households which includes 1819 children

Thank you to our over 300 donors, including:

Adams County
AJL Foundation
Caring for Colorado Foundation
Chambers Initiative
City of Boulder
City and County of Denver
Colorado Health Foundation
The Colorado Trust
Community First Foundation
The Denver Foundation
Gates Family Foundation
Jobs with Justice Colorado
Kennedy Family Fund
Open Society Foundations
Rose Community Foundation
Seedworks Fund
Social Venture Partners – Denver
Wend Foundation
Women’s Foundation of Colorado

While we can’t list all the contributors to this amazing story it is important to acknowledge all of the volunteers, non- profit organizations and everyone who contributed! Thank you!

WHAT’S NEXT FOR THE LEFT BEHIND WORKERS FUND

The ultimate goal of all of this good work, which meets immediate needs and provides agency for those receiving, is to affect policy change. It is the hope that in the future, those who received this cash assistance would be able to benefit from the contributions that they make to the Unemployment Insurance system through their employers. The LBWF is advocating for  equitable access to the unemployment insurance benefits when participants need them. Funds have been raised to begin the process of education and collaboration to build a solution so that the impact of disasters like the pandemic are not so disproportionately felt.

If you would like to add your voice to this story please donate below

Donate to LBWF

IMPACT CHARITABLE DONOR COMMUNITY PROVIDES CRITICAL FINANCING TO FEMALE AFRICAN AMERICAN ENTREPRENEURS THROUGH THE SISTAHBIZ LOAN FUND.

The Sistahbiz Loan Fund (SLF) is a partnership between CEDS (Community Enterprise Development Services) and SistahBiz to provide financing for black women entrepreneurs in a way that is culturally responsive and sustainable. CEDS is a Colorado-based community development financial institution (CDFI) focused on providing assistance to refugees, immigrants, and those from underserved communities in the Denver Metro area.  Sistahbiz is a nonprofit business accelerator providing affordable options for coaching, training, and services to help black women build scalable, sellable models and access the back-office support, cash flow, and social capital that they need.

After securing $250,000 from a local foundation, SistahBiz sought to raise an additional $250,000 from area donors and impact investors.  Impact Charitable, on behalf of several of its donors, through IC’s Direct Investment Services has recently closed a $60,000 loan in its effort to help close the equity gap in access to capital among underserved communities.

IMPACT CHARITABLE CONTINUES TO GROW AND EVOLVE

This past year has been one that has seen tremendous growth sparked in no small part by the success of the LBWF. We have had more than 16 new DAF’s and direct deals that have launched this year. The common thread has been our ability to be innovative and provide quick solutions to help bring stories to life.

If you would like to contribute directly to Impact Charitable to support our operations you can do so here

Please take a moment to watch a recent interview with Ed Briscoe the Co-founder and Board President

We recently announced that Ed Briscoe will be succeeded as Executive Director of Impact Charitable by Rich Hoops. 

JOIN OUR COMMUNITY OF DONORS TO MAXIMIZE THE IMPACT OF YOUR DAF IN 2021.