For Funders
Invest in Colorado Talent Together
Designed and managed by Social Finance, the Colorado Pay It Forward Fund is made possible by a generous cohort of locally-focused impact investors and philanthropic organizations committed to expanding economic mobility for Coloradans.
An Innovative Approach: The Pay It Forward Fund
Despite more than $1.6B in public spending on higher education and workforce development, Colorado’s skilled workforce shortage continues. Thousands of Coloradans work low-wage jobs, while quality employment opportunities at top Colorado companies go unfilled. 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.
FUND PRINCIPLES
The Fund customizes no- and low-interest loans to students, training providers, and employers to expand job-connected pathways and remove barriers to enrollment.
The Fund deploys and recycles funding based on the success of students and employers.
Compared to traditional grants and scholarships, the Fund aims to double its spending power, as each dollar is deployed and recycled when successful students and employers repay loans and ‘pay forward’ the opportunity.
The Fund utilizes outcomes-based loans (not Income Share Agreements). These are regulated loan products that link repayment obligations with wage outcomes. Loan repayment is required only when students are employed in a job paying at least $40,000 annually.
– Kelly Dunkin, President & CEO, Colorado Gives Foundation
Colorado Impact – Join Us!
With $8M in private capital already committed, the Fund is seeking additional capital to help create livable wage pathways for Colorado job seekers, which helps to strengthen families, expand the tax base, and urgently respond to Colorado’s workforce shortages in high-value industries.
If you are a funder or an impact investor interested in learning more about the Colorado Pay It Forward Fund, please contact Julie Stone at jstone@copayitforwardfund.org.
Individuals who are interested in donating to the Fund may do so through our partners at Colorado Gives Foundation.
