About COPIFF
Investments to Move Colorado’s Workforce Forward
The Colorado Pay It Forward Fund aims to pass prosperity on from one job seeker to another by offering no- and low-interest loans to job seekers, training providers, and employers to support the workforce ecosystem in Colorado. All loan repayments are recycled back into the Fund to support Colorado’s workforce.
Partners & Supporters
The Fund is supported by local foundations and impact investors, and is designed and managed by Social Finance, a national nonprofit and registered investment advisor that works with the public, private, and social sectors to create partnerships and investments that measurably improve lives. Social Finance is partnering with Colorado philanthropies and multiple training providers across the state on this pioneering Pay It Forward Fund to prepare Colorado residents for placement and success in in-demand, well-paying jobs.
Why Does Colorado Need a Pay It Forward Fund?
Despite more than $1.6B in public spending on higher education and workforce development, Colorado’s skilled workforce shortage continues. Workers need more support to find the education and employment opportunities that lead to in-demand jobs, and businesses are constantly searching for the skilled talent they require. The Colorado Pay It Forward Fund models a new, innovative approach to investing in the Colorado economy, one that rewards the success of students, training providers, and employers.
“In the past, the student had to assume 100% of the risk of their education upfront, regardless of the post-education employment outcome. With the Colorado Pay It Forward Fund, philanthropy, employers, and training partners all share in the upfront education risk on a student’s behalf. If and only if a student succeeds in obtaining an agreed upon and successful employment outcome, then they/she/he must then repay their student loan back to the statewide Fund.”
– Dr. Ben L. Bynum, M.D., Senior Director of Impact Investing, Colorado Health Foundation
