REDF
Grant
Venture philanthropy organization based in California that creates jobs for people facing the greatest barriers to work
REDF (also known as The Roberts Enterprise Development Fund) is a San Francisco-based venture philanthropy organization that creates jobs and employment opportunities for people facing the greatest barriers to work.
Founded in 1997 by George R. Roberts (KKR), REDF provides equity-like grants and business assistance to a portfolio of nonprofits in California to start and expand social enterprises—nonprofit-operated businesses selling goods and services demanded by the marketplace while intentionally employing young people and adults who would otherwise face bleak prospects of ever getting a job.
Summary
To date, the 50 social enterprises that REDF has supported have employed 6,500 people and earned revenues of more than $115 million. Three-fourths (77%) of social enterprise employees interviewed two years later were still working. Average employee wages had increased by nearly one-third (31%) and monthly incomes had almost doubled (90%). REDF has also contributed to the growth of the social enterprise field with globally distributed social enterprise tools, publications, and research, including pioneering Social Return on Investment metrics and analysis.
Social Impact
REDF works closely with its portfolio of nonprofit organizations to build and grow social enterprises. We do this by providing a package of grants and hands-on business assistance, tailored specifically for the needs of the social enterprise(s) being supported.
Types of assistance can include
- Unrestricted grants for general operating support of the social enterprise
- Restricted grants for specific infrastructure needs, e.g., capital, technology, financial systems
- REDF staff and/or consultants for business assistance needs, e.g., business planning, business development, operational analysis, industry expertise
- Human capital, including Farber Interns and/or Fellows, as well as assistance recruiting key enterprise positions
- Assistance with measurement of social outcomes and tracking of financial performance
- Networking and field-building opportunities
REDF’s approach is very hands-on. We build close relationships with our portfolio organizations and interact frequently in our work together. We believe that a social enterprise is just like any other business that requires careful nurturing, close monitoring, risk tolerance, and patient capital in order to be successful. The approach is similar to a venture capital investor seeking to support a startup or growing business, but our goal is to create jobs for people with barriers to employment, and the “return on investment” that we seek is to create successful long-term outcomes for as many people with barriers as possible.
Note
*This is a grant. Grants do not provide principal or a financial return back to your account.
