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42 U.S. Code § 12653k. Funds
(a) FindingsCongress finds the following:
(1)
Social entrepreneurs and other nonprofit community organizations are developing innovative and effective solutions to national and local challenges.
(2)
Increased public and private investment in replicating and expanding proven effective solutions, and supporting new solutions, developed by social entrepreneurs and other nonprofit community organizations could allow those entrepreneurs and organizations to replicate and expand proven initiatives, and support new initiatives, in communities.
(3)
A network of Social Innovation Funds could leverage Federal investments to increase State, local, business, and philanthropic resources to replicate and expand proven solutions and invest in supporting new innovations to tackle specific identified community challenges.
(b) PurposesThe purposes of this section are—
(1)
to recognize and increase the impact of social entrepreneurs and other nonprofit community organizations in tackling national and local challenges;
(2)
to stimulate the development of a network of Social Innovation Funds that will increase private and public investment in nonprofit community organizations that are effectively addressing national and local challenges to allow such organizations to replicate and expand proven initiatives or support new initiatives;
(3) to assess the effectiveness of such Funds in—
(A)
leveraging Federal investments to increase State, local, business, and philanthropic resources to address national and local challenges;
(B)
providing resources to replicate and expand effective initiatives; and
(C)
seeding experimental initiatives focused on improving outcomes in the areas described in subsection (f)(3); and
(4)
to strengthen the infrastructure to identify, invest in, replicate, and expand initiatives with effective solutions to national and local challenges.
(c) DefinitionsIn this section:
(1) Community organization
The term “community organization” means a nonprofit organization that carries out innovative, effective initiatives to address community challenges.