PRESS RELEASE: LOCAL FOUNDATION PROVIDES $100,000 IN FUNDING TO WASHINGTON COUNTY NONPROFIT FOR INNOVATIVE CHILDCARE MODEL

01 July 2019 Published in News

 

 FOR IMMEDIATE RELEASE

 

Contact:

Rosemary Roller, Community Relations Manager
Community Foundation of Utah
(801) 559-3005 x5

 

 

Local Foundation Provides $100,000 in Funding to Washington County Nonprofit for Innovative Childcare Model

Switchpoint Community Resource Center will receive a 0% interest loan from The Community Foundation of Utah’s Social Investors Forum.

 

Salt Lake City, UT – On June 6th, the Community Foundation of Utah (CFU) hosted the ninth Social Investors Forum (SIF), a pitch event designed to identify and fund innovative ideas that aim to solve complex social problems. After diligent deliberation from the SIF Investment Committee, CFU offered a $100,000, 0% interest loan to Switchpoint Community Resource Center to establish Stepping Stones, a 24/7 childcare facility to support low-income individuals who need child care while they work.

Prior to each Forum, nonprofits and social enterprises from across the state are invited to submit a call for investments, and a select few finalists are chosen to pitch live to an Investment Committee of entrepreneurs and business professionals. Winning pitches feature a combination of inventive solutions to community issues, coupled with strategies to ensure long-term financial sustainability. Since 2014, the program has awarded $498,500 to Utah nonprofits and social enterprises. 

“The Social Investors Forum brings the community together to support nonprofits that are changing our sector for the better through innovation, sustainability, and impact,” said Alex Eaton, Chief Executive Officer at CFU. “We’re especially thrilled that we’re able to invest outside of the Wasatch Front with this loan.”

Switchpoint will use the grant to open Stepping Stones, a social enterprise that will offer high quality, affordable child care to individuals who are identified through the Utah Alliance for the Determinants of Heath. Referrals and follow-up will be provided by The Alliance for families who qualify based on income. “Accessible, available, and quality Child Care for families is essential for the well-being of all members of the family, as well as for communities in which they live. It relieves parents and other caretakers of that responsibility so that they can seek, find and participate in employment that allows them to support their families,” shared Carol Hollowell, Executive Director of Switchpoint.

The Spring 2019 SIF was sponsored by Morgan Stanley and Kiln. This initiative runs bi-annually, and the tenth SIF will be held in Fall 2019. For more information please visit: https://utahcf.org/community-impact/social-investors-forum.

About the Community Foundation of Utah

CFU is a 501(c)(3) nonprofit organization committed to enriching our community by giving well, teaching others to give well, and uniting philanthropy to improve the quality of life in Utah. CFU serves as Utah’s catalyst for philanthropy through innovative, sustainable, and impactful grantmaking and works with nonprofit organizations, businesses, and individuals to target the most pressing needs in our community. Since establishment in 2008, CFU has facilitated over $55 million in grants to Utah’s nonprofit sector. For more information, please visit www.utahcf.org, call 801-559-3005, or email .

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