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March 23, 2022

Hartford Foundation plans match up to $120K for nonprofit accelerator

Photo | Contributed Hartford Foundation President Jay Williams.
By Zachary Vasile

The Hartford Foundation for Public Giving plans to match start-up capital raised by nonprofits participating in its Social Enterprise Accelerator, a program aimed at helping those organizations expand their revenue streams beyond traditional grants and donations.

Officials said the foundation will match start-up money raised dollar-for-dollar up to 50% of each organization’s goal, not exceeding $20,000. Among the six nonprofits currently participating in the accelerator, the Hartford Foundation could end up putting forward as much as $120,000 by the end of the matching period, on June 8.

“The enthusiasm and effort that area nonprofit organizations have brought to the Social Enterprise Accelerator program has exceeded our expectations,” said Melanie Tavares, director of capacity building and nonprofit support. “While the creative ideas these organizations have brought forward are truly exciting, we were even more impressed by their level of commitment to developing detailed and viable business plans. Nonprofits in Greater Hartford have an appetite for social enterprise and a need for new revenue sources; we are proud to help them meet that need.”

The Social Enterprise Accelerator is intended to help participating nonprofits develop products and services that can generate income to support their work, outside of grants and donations.

The six organizations that make up the accelerator’s “second cohort” are End Hunger CT!; the Hartford Food System; the CT Data Collaborative; Health Equity Solutions; the Noah Webster House and the West Hartford Historical Society; and the YWCA Hartford Region.

The groups recently held “fast pitch” sessions in which they presented their business plans to current and potential donors.

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