Capital Impact Partners, a national Community Development Financial Institution (CDFI), created the Co-op Innovation Award in 2015 to promote economic opportunity through the cooperative model. This initiative aligns with Capital Impact's broader mission to foster inclusive community development, particularly through investments in food, housing, and worker co-ops. The Co-op Innovation Award has grown to become a significant mechanism to identify and support innovative cooperative projects with strong social impact potential.
The 2025 Co-op Innovation Award offers up to $50,000 in funding for organizations leveraging cooperative models to address community challenges. The program is designed to support early-stage projects with the potential to be scaled or replicated locally, regionally, or nationally. Priority is given to initiatives that serve communities with low-income populations. Notably, the grant aims to function as catalytic capital, attracting additional funding and attention to impactful cooperative ventures.
Eligible applicants include nonprofit 501(c)(3) organizations, cooperatives, and organizations with a nonprofit fiscal sponsor. There are no geographic restrictions within the United States, meaning projects from any location nationally are welcome. While all cooperative sectors are eligible to apply, the proposal must center around a specific project with measurable outcomes to be achieved within one year. General operating support or gap funding for already well-funded projects is not allowed.
Permissible uses of the grant funds include financial projections, project design, feasibility analysis, operational and staffing costs, training and leadership development, technology investments, marketing, and the engagement of consultants. The application deadline is June 12, 2025. Applications are submitted via the Submittable platform, and all applicants will be informed of their finalist status by July 31, 2025. The final award announcements are scheduled for early October.
Two informational webinars will be held on May 28 and June 4, 2025, to support prospective applicants. Reporting requirements for selected grantees include mid-year and final narrative reports as well as data collection on job creation, demographics served, and additional funding secured. The program also includes a strong emphasis on measurable impact and encourages past applicants to reapply, provided they did not receive the award in 2024.
The primary contact for the grant is Alison Powers, Director of Economic Opportunities at Capital Impact Partners, who can be reached at apowers@capitalimpact.org. This grant represents a significant opportunity for cooperatives and nonprofit organizations to advance innovative, community-centered initiatives with a strong foundation of support and potential for broader influence.
