Puerto Rico Community Foundation
Social Innovation Fund 2012
Title: Puerto Rico Community Foundation
The Puerto Rico Community Foundation (PRCF) is a successful private non-profit philanthropic institution established in 1985 that was conceived as a vehicle for social change. It is the first and oldest philanthropic nonprofit community foundation in Latin America and the only one of its kind in Puerto Rico.During the past 27 years as an intermediary it has granted over $45 million dollars to more than 6,000 community initiatives addressing pressing needs in the areas of education, health, community leadership, housing, economic development, arts and drug prevention.
In response to CNCS' Social Innovation Fund(SIF) NOFA, PRCF is requesting a $1,000,000 award for one year (and will match $1,000,000), to implement an issue-based SIF. PRCF will competitively select and invest in portfolios of promising community-basednonprofit organizations (subgrantees) with at least preliminary evidence of the effectiveness of a particular program model working in low-income communities.The target issue is Economic Opportunity. PRCF has identified within low income communities of Puerto Rico a lack of economic activity and business development, of employment, and job creation.
PRCF will re-grant SIF awards to nonprofit organizations with proven track record in the areas of economic development. PRCF has identified innovative solutions and seeks subgrantees that are able to effectively implement them. Subgrantees are to replicate and expand their programs in the following areas: 1. Micro-enterprise programs within their organization that contribute to generate jobs, while providing economic support to the non-profit. 2. Micro loans, focusing in strengthening micro-entrepreneurs within low income communities to invigorate economic activity; and 3.Community Action for Economic Empowerment.
Specific measurable outcomes that PRCF expects subgrantees to generate are: amount of families and individuals that receive guidance within low income communities; previous and afterward economic and psycho-emotional stability of individuals and families, (income and expenses, net worth); job creation and retainment; financial behavior and attitudes before and after services (saving and spending behavior, managing debt, building and managing credit, response to financial charge, strategic use of formal financial resources, bill payment behavior); amount of micro enterprises that receive guidance regarding microloans within low income communities; amount of microloans awarded; improvement of performance before and after loan award (financial, administrative, staffing, and organizational stability); business size, type and profitability before and after services; extent to which local businesses meet basic community needs before and after service.
PRCF will evaluate the following measurable outcomes of the awarded subgrantees before and after assistance: organizational capacity; financial capacity;persons impacted, assisted families; administrative capacity; level of evidence, reporting, and outcome achievement, among others. PRCF expects that the outcome under the Micro Loan Program will be of providing loans to at least 30 micro enterprises and create or retain 50 low income employments. Within the Micro Enterprie Program start up or support 20 microenterprises and create an average of at least 50 low income jobs, and within the Community Action for Economic Empowerment provide 500 direct services to families and individuals resulting in improvement of financial capacity of such.
Low income communities as per SIF NOFA requirements within Puerto Rico will be served along with the following low income philanthropically underserved communities that are also in a rural geographic area: Coamo, Salinas, Utuado, Adjuntas, Jayuya, Las Marias, Maricao, Santa Isabel, Vieques and Culebra. PRCF will also serve low income Municipalities within MSAs with thehighest level of unemployment:Arroyo, Guayama, Patillas, Ceiba, Fajardo, Luquillo,Guanica, Guayanilla, Penuelas, Yauco,Coamo and Salinas.