Award from Social Innovation Fund Grantee Nonprofit Finance Fund Will Support Development of Pay for Success Project
Arlington, VA – July 12, 2016 – Meals on Wheels America today announces that it has received $250,000 from the Nonprofit Finance Fund (NFF) as part of a federal effort powered by the Corporation for National and Community Service’s Social Innovation Fund to address entrenched social problems. The funds will bring partners together around shared goals to enable more seniors to remain independent in their homes through the implementation of a Pay for Success project.
Meals on Wheels America, in partnership with Meals on Wheels of Central Maryland and Quantified Ventures, will structure a Pay for Success project in Baltimore, MD to provide nutritious meal delivery, in-home safety checks, socialization, and case management services to vulnerable older adults at risk of acute care utilization with the aim of improving quality of life for seniors and avoiding unnecessary healthcare costs.
“As the leader of the nationwide network of more than 5,000 community-based senior nutrition programs, it is our hope that this groundbreaking project will serve as a replicable model for Meals on Wheels to scale across the country,” said Ellie Hollander, President and CEO of Meals on Wheels America. “With more than 12,000 Americans turning 60 each day, traditional funding sources lagging, and the healthcare system overburdened, it is our goal to leave no stone unturned to advance our evidence-based model. We thank NFF for recognizing and supporting the advancement of this critical issue facing seniors, health systems and taxpayers.”
This is the first Pay for Success project focused on the provision of services aimed at improved health outcomes for seniors. This model is consistent with the larger shift in healthcare from fee-for-service to value-based care.
In 2014, NFF received a grant from the Social Innovation Fund, a program of the Corporation for National and Community Service, to accelerate Pay for Success projects across the country. Meals on Wheels America’s award is one of several subgrants from NFF's Social Innovation Fund allocation, designed to address areas of social need, including economic opportunity, healthy futures, and youth development.
About Meals on Wheels America
Meals on Wheels America is the oldest and largest national organization supporting the more than 5,000 community-based programs across the country that are dedicated to addressing senior isolation and hunger. This network exists in virtually every community in America and, along with more than two million staff and volunteers, delivers the nutritious meals, friendly visits and safety checks that enable America's seniors to live nourished lives with independence and dignity. By providing funding, leadership, education, research and advocacy support, Meals on Wheels America empowers its local member programs to strengthen their communities, one senior at a time. For more information, or to find a Meals on Wheels provider near you, visit www.mealsonwheelsamerica.org.
About Nonprofit Finance Fund
Nonprofit Finance Fund (NFF) unlocks the potential of mission-driven organizations through tailored investments, strategic advice and accessible insights. Founded in 1980, NFF helps organizations connect money to mission effectively through established and innovative approaches to social sector finance. A leading community development financial institution with over $300 million in assets under management, NFF has provided $575 million in financing and access to additional capital in support of over $1.5 billion in projects for thousands of organizations nationwide. NFF’s Pay for Success team has worked with organizations across the country to help them evaluate opportunities, explore partnerships, and advance agreements. NFF also curates a Pay for Success Learning Hub, www.payforsuccess.org. NFF is headquartered in New York City and serves clients from five offices across the country.
About the Social Innovation Fund
The Social Innovation Fund is a program of the Corporation for National and Community Service, a federal agency that engages millions of Americans in service through its AmeriCorps, Senior Corps, Social Innovation Fund, and Volunteer Generation Fund programs, and leads the President's national call to service initiative, United We Serve. For more information, visit NationalService.gov.
Tricia McKenna for Nonprofit Finance Fund
Jenny Bertolette for Meals on Wheels America