Sage Foundation Launches $1M Enterprise Fund
Sage, a market leader in cloud accounting software, announced on February 22nd the launch of Sage Foundation's Enterprise Fund. The new $1 million fund is open to non-profits with enterprise ideas that help improve the lives of military veterans, young people or women and girls.
Every day, inspiring non-profit leaders, volunteers and their supporters are working tirelessly to make their communities better places to live. Sage Foundation's Enterprise Fund has been designed to support those organizations generate further income, create new initiatives or enhance existing and proven activity.
The $1 million will be split between two rounds of $500,000; with the second amount ready for release in July 2017. Applications for the first round are open until April 5; grants between $5,000 and $35,000 will then be awarded to successful applicants.
All applications that fulfil the eligibility criteria will be considered. However, Sage Foundation are especially keen to support organizations that are currently small but have ambitions to expand, grow and deliver sustainable change. It is also hoped that the fund will support traditionally hard-to-fundraise needs such as; capital projects, core running costs or new innovations.
"Supporting this thriving community of grassroots charities and non-profits is important to Sage," said Nancy Harris, EVP, Sage North America. "We believe some of the brightest, most innovative ideas come about when the local communities come together for the common good. Sage Foundation's Enterprise Fund will help these organizations take action on vital projects that create a better future."
Sage Foundation's Enterprise Fund was introduced at Sage Summit in Chicago in July 2016 as part of a series of new initiatives to mobilize Sage colleagues, partners and customers around a common vision for change. As part of this year's new Sage Summit Tour, Sage Foundation will be working with Sage's brilliant network of business builders to take action together.
This year, at the Sage Summit in Atlanta, the Foundation will host a 5K challenge in partnership with ParkRun. In addition, the Foundation will host a "philanthropitch" to support local non-profit organizations through grants. The Foundation at the Summit will also host The Big Give, an activity that will allow Summit participants to vote with Sage Foundation coins to give funding away.
Sage Foundation is powered by the '2+2+2' model. Through this, Sage Foundation donates: 2% of employee time each year (up to 5 volunteer days), 2% of free cash flow in grants and 2 donated software licenses to eligible partners. To date, the Sage Foundation has given 13,000 volunteering days globally to Sage Employees and 100,000+ volunteering hours.
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