Nineteen foundations, corporations and private individuals have joined the Edna McConnell Clark Foundation and the boards of Nurse-Family Partnership, Youth Villages and Citizen Schools to support the dramatic expansion of effective service that will transform the lives of low-income youth across the United States. These commitments ranges from $3-15 million for institutional investors and $1-5 million for individuals. As of June 25, 2008, a collective $120 million has been committed and secured, reaching our goal on schedule.

See list of participating co-investors.

In the Growth Capital Aggregation Pilot, EMCF provides lead investment management for its grantees and co-investors. Benefits for co-investors include:

• Taking advantage of EMCF's due diligence, initial fundraising, and investment management, while reducing grant-related transaction costs.
• Strategically partnering with other funders to aggregate capital and achieve philanthropic goals.
• Extending philanthropic reach and organizational brand.
• Sharing EMCF's detailed performance reporting, investment updates and related learning.
• Connecting with institutional and individual philanthropists funding effective programs for disadvantaged youth.
  

All co-investors have agreed on a joint set of investment terms, that aligns the terms and conditions for each investment. Co-investors have also adopted a common performance-based approach to payout and will meet as a group to review grantee performance. The goal of this coordination is to ease the habitual reporting burden for grantee organizations.

This initial infusion of $120 million in up-front growth capital will lay the groundwork and pave the way for additional investment and support by others. All three organizations will continue to raise significant amounts of renewable, reliable private and public funding to execute their growth strategies and achieve long-term sustainability.

If successful, by 2017 Nurse-Family Partnership will reach 100,000 first-time mothers every year, nearly one sixth of eligible families. And over the next five years, Youth Villages and Citizen Schools will increase their capacity by 50% and have the potential to influence federal and state education and social policy reform efforts.