Financial Solutions Lab Exchange 2022 Grant Program

The 2022 Financial Solutions Lab Exchange Challenge
To support the financial health of people and families who use public or private benefits, the focus of this year’s Financial Solutions Lab Exchange Challenge is “Improving Public and Private Benefits Access and Navigation.” 

The Exchange is founded on the belief that the complementary strengths of fintechs and nonprofit organizations can be combined to create powerful solutions that address the financial health challenges of struggling households. 

For more information on the kinds of partnerships we fund, please read our recent report, Cross-Sector Solutions: A Guide to Nonprofit-Fintech Partnerships, which describes the work of several of our previous grantees, and and consult our blog here to read about our 2021 grantees.

Some examples of the types of projects applicants might propose include:
  • Fintech Distribution: A nonprofit integrates a fintech tool into its existing program to increase engagement and impact
  • Nonprofit Referral: A fintech integrates or refers customers to relevant nonprofit services.
  • Systems Enhancements: A nonprofit implements fintech systems or tools to enhance back-end systems or operational processes
  • Insights and Design: A fintech engages a nonprofit to get design input into new products and features
Read the full Application Criteria for more information.

What do grantees receive? 
  • $90,000 per partnership (minimum of $46,000 must go to the nonprofit partner).
  • Technical assistance to help grantees execute projects.
  • A forum to actively engage with, and learn from, the nonprofit and fintech peers in your cohort.
Partner organizations should only submit one application per partnership. The Exchange team can help you talk through ideas for your application (see information about office hours below).

Grant eligibility:
  • Project must be focused on addressing the financial health challenges of benefits users.
  • Applications must have both partners identified and fully committed to work together during the grant period (October 2022 - September 2023). 
  • Organizations may submit applications with different partners (e.g. two applications, with two different partners).
  • Nonprofit Community Development Financial Institutions are eligible for grants. Organizations registered as 501(c)(4) nonprofits are not eligible.

If you have questions or would like to discuss your application ideas, please don't hesitate to email us or sign up for office hours. We welcome you to join the Financial Solutions Lab Exchange to find out more about the grant program and meet potential partners. 

Application Deadline: July 15

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* 1. Please list the names of each nonprofit and fintech partnering on this grant project (two partners required).

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* 2. Website URL for each project partner's organization/company

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* 3. Nonprofit partner: Primary contact person for your grant application

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* 6. Fintech partner: Primary contact person for your grant application

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* 9. Please give a brief overview of each of the project partners. What does each partner (nonprofit and fintech) do and who do you serve? 

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* 10. How will your project help address the financial health need(s) of benefits users (impact can be directly with end users or through a project targeting operational improvements)?

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* 11. Please describe your key objectives and timeline for the project.

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* 12. How does your project leverage the unique capabilities and strengths of both the nonprofit and fintech partners?

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* 13. How has COVID impacted your work? What, if any, adaptations have you made in programming/service delivery due to the pandemic?

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* 14. Describe the clients/customers your partnership will serve. 
  • How many people will this project reach directly? If the project isn't targeting end users, who will benefit from this project's downstream product/organization enhancements? 
  • What are the demographics of clients/customers served?

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* 15. Through this grant, we seek to create a safe space for learning (regardless of whether a project is “successful”). What are you trying to learn through this project? 

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* 16. Briefly describe what is new or innovative about your approach, either for your organization(s) or for the field as a whole (whether in process, partnership, target market, learning opportunity, etc.).

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* 17. Please describe how the project will track and evaluate impact on clients’ financial health and/or partners’ functional capabilities. What, if any, experience do your organizations have with conducting impact research/assessments? 

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* 18. If your project is successful, what are your potential paths to grow or evolve it? How do you foresee this project catalyzing other efforts in the benefits and financial health space?

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* 19. Please describe your partnership’s approach to diversity, equity, and inclusion.

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* 20. OPTIONAL: Please upload any supporting documents that you feel would round out your grant application.

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