The Exchange grant program will be open to all types of nonprofit-fintech partnerships, including those identified in the 2019 report: Cross-Sector Solutions: A Guide to Nonprofit-Fintech Partnerships. Examples include:
Grant Use Restrictions
We recognize that COVID-19 has made the work of consumer-serving nonprofits more challenging, so we prioritize flexibility in our grant program. Funds can be used to support both fintech and nonprofit activities with the following terms:
A key mandate of the Financial Solutions Lab Exchange is to seek and support nonprofit-fintech partnerships addressing the financial health needs of LMI individuals and historically underserved communities in the U.S. The Exchange aims to support fintech founders and nonprofit leaders from underrepresented communities, and those building solutions with women and people of color in mind, particularly Black, Latinx, and Indigenous communities.
The Exchange also wants to work with grantees committed to diversity, equity, and inclusion principles at all levels of their organization. We believe organizations guided by these principles are best equipped to support vulnerable and underserved populations with innovative and responsive solutions.
The Financial Solutions Lab and its partners define diversity, equity, and inclusion as follows:
Diversity is recognizing, acknowledging, appreciating, and bringing together individuals and groups with unique perspectives and differing backgrounds. The Financial Solutions Lab is intentionally focused on innovative ideas that support populations facing acute and persistent financial health challenges, including (but not limited to) people of color, women, aging individuals, and individuals with disabilities.
Equity means that all individuals, regardless of age, race, color, religion, creed, sex, sexual orientation, gender identity, national origin, marital status, socioeconomic status, protected veteran status, or disability have equitable access to economic opportunity. In practice, this does not mean identical interventions. Rather, equity is about providing groups of people with customized supportive services that will enable them to thrive. Through these services, we aim to counteract unequal access to economic opportunity caused by historical and present-day discriminatory systems and practices.
Inclusion is the conscious practice of creating an environment of involvement and mutual respect – where we support and welcome a broad spectrum of ideas, backgrounds, identities, and perspectives. Inclusion puts the concept of diversity into action and fosters a culture where individuals are given a voice and can bring their whole selves to every situation.
Interested in becoming a participant in the Exchange? Fill out the request form below and we’ll follow up shortly. Inclusion in the Exchange comes at no cost or obligation.
Questions about the Exchange? Send us an email >>