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Greenlight Fund Inc.

 200 Clarendon, 29th Floor
 Boston, MA 02116
[P] (617) 912-8981
[F] --
www.greenlightfund.org
[email protected]
Margaret Hall
Facebook
INCORPORATED: 2003
 Printable Profile (Summary / Full)
EIN 20-0407083

LAST UPDATED: 06/29/2015
Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years Yes

Summary

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Mission StatementMORE »

The GreenLight Fund transforms the lives of children, youth and families in high-poverty urban areas by creating local infrastructure and a consistent annual process to:

· Identify critical needs

· Import innovative, entrepreneurial programs that can have a significant, measurable impact, and

· Galvanize local support to help programs reach and sustain impact in the new city.

Mission Statement

The GreenLight Fund transforms the lives of children, youth and families in high-poverty urban areas by creating local infrastructure and a consistent annual process to:

· Identify critical needs

· Import innovative, entrepreneurial programs that can have a significant, measurable impact, and

· Galvanize local support to help programs reach and sustain impact in the new city.


FinancialsMORE »

Fiscal Year Jan 01, 2015 to Dec 31, 2015
Projected Income $4,006,000.00
Projected Expense $3,964,000.00

ProgramsMORE »

  • GreenLight Selection and Support Model

Revenue vs. Expense ($000s)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Expense Breakdown 2011 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

The GreenLight Fund transforms the lives of children, youth and families in high-poverty urban areas by creating local infrastructure and a consistent annual process to:

· Identify critical needs

· Import innovative, entrepreneurial programs that can have a significant, measurable impact, and

· Galvanize local support to help programs reach and sustain impact in the new city.


Background Statement

The GreenLight Fund works to transform the lives of children, youth and families by attracting and importing innovative, high-impact nonprofits from around the country into high-poverty urban areas (Boston, Cincinnati, Philadelphia, and the San Francisco Bay Area). GreenLight works with community leaders to systematically identify their highest-priority needs and gaps in services, then scours the country to find high-performing, results-oriented programs that best address these needs. GreenLight facilitates their replication locally and provides on-the-ground support including: multi-year funding, introductions to key stakeholders, help navigating the local terrain, building a staff/board, ongoing strategic advice, and showcasing its portfolio to private-sector entrepreneurs and investors who become local supporters and champions.

GreenLight was founded in 2004 by John Simon, an experienced entrepreneur, to address persistent poverty by bringing in programs that were effective, evidence-based, results-oriented, and scalable. A growing social entrepreneurship movement was creating innovative programs with impressive results, but would face significant challenges scaling to new locations. John noted the contrast between the ease of expansion for his for-profit companies, which generated greater resources, capital and energy as they experienced success, and the more difficult growth process experienced by the Steppingstone Foundation (a nonprofit he co-founded), which faced the inverse.

With Margaret Hall, a veteran of the foundation and nonprofit world, John aimed to create a new form of venture philanthropy. They developed the GreenLight Fund’s unique model, recruited its first Selection Advisory Council and raised a $2 million seed fund to launch operations and support grantmaking for the founding years. In 2004, GreenLight selected Friends of the Children, based in Portland, Oregon, as its first program to bring to Boston.

In ten years, GreenLight has grown from a one-person office in Boston to a network of four sites that have collectively launched a total of 14 GreenLight “portfolio organizations” in our cities, reaching 40,000 children, youth, and families in 2014 alone. GreenLight has invested $11.5 million in these organizations, leveraging an additional $43 million in other contributions since their GreenLight launch. GreenLight recently secured a prestigious $5 million federal Social Innovation Fund grant to help us grow and deepen its impact

Impact Statement

In 2014, GreenLight accomplished the following: 
  • The GreenLight Fund's portfolio served over 40,000 children, youth and families in Boston, Philadelphia and the San Francisco Bay Area. 
  • GreenLight launched three new portfolio organizations, including Blueprint Schools Network in Boston, Year Up in Philadelphia, and uAspire in the Bay Area.  GreenLight hosted launch events for these organizations in their respective communities, engaging over 1,200 potential donors, volunteers and board members to support our portfolio. 
  • GreenLight laid the groundwork for the launch of a new site in Cincinnati, including raising nearly $2 million in local funding to support the new site and seed its first three portfolio investments.  
In 2015, GreenLight has set the following goals:
  • Program: GreenLight will launch Center for Employment Opportunities in Philadelphia and Springboard Collaborative in the Bay Area.  GreenLight Boston, Philadelphia and the Bay Area will run their selection cycle for their 2016 portfolio organizations throughout the year.  
  • Growth: GreenLight will launch its fourth site in Cincinnati in March 2015, including hiring a local executive director, recruiting a Selection Advisory Council and selecting its first portfolio organization in 2016.  
  • Financial: GreenLight will launch the public phase of its $26 million 10th Anniversary campaign in the fall of 2015.  Our goal is to complete the campaign by December of 2016. 

Needs Statement

GreenLight's national five-year strategic plan requires $26M to fully implement, and will enable us to operate in five cities, with 20 portfolio organizations serving over 100,000 children, youth and families annually. These dollars will be invested in strengthening our organizational core, increasing our scale and impact, and inspiring new philanthropy.

Of that $26M, GreenLight Boston requires $6M, which will enable us to:

• Hire a full-time GreenLight Boston executive director;

• Invest in a full-time Development and Events Coordinator for Boston, a role that is currently shared with our national office;

• Award total grants of up to $4M to five organizations;

• Conduct three large-scale events per year to showcase each portfolio organization to prospective donors and champions; and

• Provide programmatic support and technical assistance to our portfolio.


CEO Statement

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Board Chair Statement

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Geographic Area Served

NATIONAL
City of Boston- Citywide (Indiv. neighborhoods also listed)
The GreenLight Fund operates three sites in following cities/regions: Boston, Philadelphia, and the San Francisco Bay Area.  In March, we will announce the launch of GreenLight Cincinnati.

Organization Categories

  1. Community Improvement, Capacity Building - Fund Raising & Fund Distribution
  2. -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

Under Development

Programs

GreenLight Selection and Support Model

GreenLight’s model selects and supports the importation of one new organization per year into our communities (Boston, Cincinnati, Philadelphia, San Francisco/Bay Area) to address critical unmet needs affecting low-income children, youth and families. With a cross-sector Selection Advisory Council, GreenLight identifies critical needs and conducts rigorous diligence on innovative nonprofit programs that are actively addressing these needs in other communities with high impact, and community landscape analysis to ensure local fit. Upon selection, GreenLight provides support that includes: early-stage operating funding ($600,000 to $800,000/4 years); board membership; help recruiting staff and board talent; start-up planning; introductions to key political, philanthropic, corporate, and nonprofit stakeholders; operational and management guidance; annual review to ensure progress is on track; and events to connect the organization to potential donors, volunteers, and board members.
Budget  $3,964,241.00
Category  Philanthropy, Voluntarism & Grantmaking, General/Other Philanthropy, Voluntarism & Grantmaking, General/Other
Population Served Children and Youth (0 - 19 years) Families Poor,Economically Disadvantaged,Indigent
Program Short-Term Success 

The GreenLight model is designed to ensure organizations get rooted in the community quickly and drive results and impact as soon as possible. Over the next five years, we seek to achieve the following outcomes:

· A network of five thriving, highly effective local GreenLight sites in five cities, with high quality staff and cross-sector “selection advisory councils” of engaged donors and other key local leaders;

· A total of 25 GreenLight portfolio organizations, reaching an estimated 100,000 children, youth, and families annually in life-changing ways, meeting key impact indicators;

· A total of $16 million in GreenLight contributions to portfolio organizations;

· Approximately $105 million in additional revenue raised by portfolio organizations since their launch in a GreenLight city; and

· A strong national office that provides solid support to our network of GreenLight fund communities.

Program Long-Term Success  We envision a national network of GreenLight Fund cities, working together, learning from each other, inspiring new philanthropy, harnessing the vision and ambition of social entrepreneurs, and speeding the spread of good ideas and proven programs that make lasting change for children and families in our cities’ high-poverty areas.
Program Success Monitored By 

Supporting our portfolio organizations to achieve significant, measurable outcomes is central to GreenLight’s model. In its diligence process, GreenLight uses financial and evaluation tools to assess organizations’ finances, performance management systems and levels of evidence. Upon selection, GreenLight builds an engagement agreement with each portfolio organization, outlining goals for their first five years after launch. Metrics include participants served, budget growth, and ability to achieve similar/stronger outcomes than their national organization’s other sites. To assess progress on these measures, GreenLight uses a performance management platform. GreenLight executive directors meet quarterly to review dashboards on each organization and identify challenges and ways to support organizations’ progress. Dashboards include programmatic (outputs and interim outcome data) and organizational (financial, fund-raising, board and staff development information) metrics.

Examples of Program Success 

GreenLight Boston has imported nine innovative, results oriented nonprofits that are achieving impact and scale in Boston, helping to meet critical needs.  They now employ a total of 53 local staff, and engage 60 Board members. GreenLight has committed $7 million to these organizations, leveraging $27 million in additional funds raised from thousands of investors and donors. Five of the organizations have “graduated” and no longer receive GreenLight funding. Each organization has consistently met its impact and quality metrics. For example:

• In 2012, Single Stop USA’s site at Bunker Hill Community College connected 3,600 low-income students with benefits and services valued at $4.2 million.

• In its first two years, 50% of Boston families participating in Family Independence Initiative increased their incomes and moved out of poverty.

CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Margaret Hall
CEO Term Start Nov 2003
CEO Email [email protected]
CEO Experience --
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? Yes
Name of state association Massachusetts Nonprofit Network

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 8
Number of Part Time Staff 0
Number of Volunteers 0
Number of Contract Staff 3
Staff Retention Rate % 86%

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 8
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 7
Male: 1
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers 5
Management Succession Plan --
Business Continuity of Operations Plan --
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy No
Directors and Officers Insurance Policy --
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Mr. John G. Simon
Board Chair Company Affiliation Sigma Prime
Board Chair Term Nov 2003 -
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Michael Danziger Steppingstone Foundation Voting
Andrew Hahn Brandeis University --
Margaret Hall GreenLight Fund --
Michele Jolin America Acheives Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 5
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 2
Male: 3
Not Specified 0

Board Information

Board Term Lengths --
Board Term Limits --
Board Meeting Attendance % --
Written Board Selection Criteria Yes
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 80%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation No

Standing Committees

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CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Expense Breakdown 2011 (%)

Fiscal Year Jan 01, 2015 to Dec 31, 2015
Projected Income $4,006,000.00
Projected Expense $3,964,000.00
Form 990s

2013 990

2012 990

2011 990

Audit Documents

2013 Audited Financials

2012 Audited Financials

2011 Audited Financials

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2013 2012 2011
Total Revenue $2,225,194 $1,247,762 $2,651,350
Total Expenses $2,241,393 $1,220,488 $1,077,847

Prior Three Years Revenue Sources

Fiscal Year 2013 2012 2011
Foundation and
Corporation Contributions
-- -- --
Government Contributions $609,963 $44,623 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified $609,963 $44,623 $0
Individual Contributions $1,003,212 $734,862 $1,989,445
Indirect Public Support $0 $0 $0
Earned Revenue $0 $0 $0
Investment Income, Net of Losses $5,102 $3,819 $4,265
Membership Dues $0 $0 $0
Special Events $606,917 $464,458 $657,640
Revenue In-Kind -- -- --
Other $0 $0 $0

Prior Three Years Expense Allocations

Fiscal Year 2013 2012 2011
Program Expense $1,985,232 $1,100,513 $967,763
Administration Expense $196,824 $88,174 $74,874
Fundraising Expense $59,337 $31,801 $35,210
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 0.99 1.02 2.46
Program Expense/Total Expenses 89% 90% 90%
Fundraising Expense/Contributed Revenue 3% 3% 1%

Prior Three Years Assets and Liabilities

Fiscal Year 2013 2012 2011
Total Assets $3,725,174 $3,478,840 $3,509,538
Current Assets $3,725,174 $3,478,840 $3,509,538
Long-Term Liabilities $0 $0 $0
Current Liabilities $317,516 $54,983 $112,955
Total Net Assets $3,407,658 $3,423,857 $3,396,583

Prior Three Years Top Three Funding Sources

Fiscal Year 2013 2012 2011
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? Yes
Capital Campaign Purpose GreenLight's National Campaign seeks to grow the organization in scale and impact so we are operating in 5 cities, supporting 20 portfolio organizations, and impacting 100,000 lives annually. Capital will be invested in the following areas: Scale and Impact: Grow in reach to 100,000 children and families reached annually with additional new metrics to show outcomes and impact Expand to two additional communities (5 total sites) Organizational Strength: Build GreenLight’s national capacity to support long-term sustainability and robust programs in an expanding network of sites Sector Transformation: Demonstrate and scale a new model of philanthropy that helps communities attract “best in class” nonprofit solutions to address their most pressing problems Unlock new philanthropic dollars from private sector investors, entrepreneurs and local business communities
Campaign Goal $26,000,000.00
Capital Campaign Dates Jan 2015 - Dec 2016
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? Yes

Short Term Solvency

Fiscal Year 2013 2012 2011
Current Ratio: Current Assets/Current Liabilities 11.73 63.27 31.07

Long Term Solvency

Fiscal Year 2013 2012 2011
Long-term Liabilities/Total Assets 0% 0% 0%

CEO/Executive Director/Board Comments

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Foundation Comments

Financial summary data in the charts and graphs above are per the organization's IRS Form 990s. Contributions from foundations and corporations are listed under individuals when the breakout was not available

Documents


Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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