After a rigorous vetting process, Social Venture Partners Boston has selected Union Capital Boston as its latest Grantee.
Social Venture Partners Boston chose Union Capital Boston because of its unique solution and transformative potential to improve Boston’s communities. Through its online platform, Union Capital provides low-income families financial incentives for accessing existing educational, health, financial, and community resources.
Social Venture Partners Boston chooses worthy nonprofits in which to invest financial and volunteer help from a network of highly skilled business professionals. With Social Venture Partners Boston’s support, these nonprofits grow an average of 40 percent annually. That’s four times the Massachusetts average.
Over the next three years, Social Venture Partners Boston will provide Union Capital Boston with $75,000 in unrestricted funds and access to a pool of highly skilled business professionals to aid the organization in the following key areas: developing a long-term growth plan, creating a sustainable fundraising model, and building the infrastructure necessary to support expanded programming. The additional financial resources will help Union Capital evaluate, sustain, and grow its Diamond Leadership program, a key component of UCB’s early success.
Eric Leslie, Union Capital Boston’s executive director says, “Much like SVP Boston, Union Capital Boston generates resources and opportunities on behalf of our members. As a new Grantee, we are thrilled that, like our members, we will be able to benefit from the vast array of resources and opportunities SVP Boston offers.”
Union Capital’s innovative approach builds and mobilizes low-income communities by combining an easy-to-use website with financial rewards in exchange for participation in schools, health centers, and civic programs.
“At Social Venture Partners, we connect the valuable resources and business counsel of our Partners with promising nonprofits – allowing each to have a greater impact than they could alone,” says Darcy Madden, executive director of Social Venture Partners Boston. “Although early-stage, Union Capital Boston is already having extraordinary impact. Our Partners are impressed by UCB’s innovative tech-enabled approach and its potential to transform lives and communities. We are pleased to be partnering with them to help accelerate their growth in these critical early years.”
Social Venture Partners Boston operates like a venture capital model for local early-stage nonprofits. It gives partners—or volunteers—the opportunity to invest their time, money, and expertise in innovative nonprofits that have the potential to make meaningful and sustainable improvements in the community. Annually, each partner provides at least $5,500 in grant money. Volunteer time varies per partner, but there is no minimum requirement.