NFF Announces a Request for Proposals for Funding to Support Structuring of Pay for Success projects
Nonprofit Finance Fund (NFF) announces a Request for Proposals for its fourth and final round of funding to support structuring of Pay for Success (PFS) projects across the United States.
NFF is accepting applications from local or state governments or service providers requesting funds for transaction structuring support to launch Pay for Success projects. Applicants must be working in partnership with a transaction coordinator - a third party that facilitates multi-stakeholder engagement, contract structuring and negotiation, and capital raising - and have already completed feasibility assessments to determine that a PFS project is viable.
Letters of Intent are encouraged and will be accepted until September 19, 2016 and full proposals are due October 17, 2016 by 5:00 pm PST.
From October 18 - February 1, 2017 proposals will be accepted on a rolling basis, as funds are available. Letters of Intent are strongly recommended at least two weeks prior to submission.
Award Details
Applicants can apply for grant awards of $75,000 to $250,000 for a 12-month grant period to support transaction structuring efforts that result in PFS projects. NFF will award at least $1.6 million in subgrants through this final round of funding. Subgrantees will be responsible for raising a 1:1 match for their awards. In addition to grant awards, subgrantees will receive: support and coaching from NFF staff; access to a network of PFS practitioners; tools and resources to help move projects toward implementation; and will participate in collaborative, field-building opportunities.
Learn more about this opportunity and how to apply by downloading the full RFP and application packet, and reviewing NFF's webinar for potential applicants.
Please note that application materials were updated prior to the third round competition. Applicants are encouraged to download all of the current materials and email [email protected] with any questions.
Additional Resources for PFS Support
NFF's transaction structuring competition provides pass-through federal funding from the Social Innovation Fund (SIF) to support transaction structuring work. If you are interested in engaging the services of a transaction coordinator to assist in your PFS structuring efforts, please monitor the websites of our colleagues at Harvard Kennedy School Government Performance Lab, Local Initiatives Support Corporation (LISC), and Sorenson Impact Center at the University of Utah - SIF grantees that will be offering technical assistance services later this fall.
For more information about funding opportunities to support PFS exploration prior to transaction structuring, visit the Social Innovation Fund Pay for Success webpage.