MemphisNonprofit

Slingshot Memphis Announces $2 Million in New Investments in Memphis Nonprofits and the Addition of Seven New Poverty-Fighting Organizations to Its Portfolio

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Slingshot Memphis, a local organization that provides independent assessments of poverty-fighting impact, has announced that it raised $2 million for its IMPACT Fund in 2020 — 100 percent of which was invested in its portfolio of high-potential poverty-fighting nonprofits. The funds came from 517 donors.

Slingshot partners with the nonprofits in its portfolio to conduct an intensive, objective assessment of their poverty-fighting impact, which helps the nonprofit measure and track its impact and understand its most effective interventions.

“Slingshot quantifies the value proposition for their nonprofit partners and gives them a clear self-improvement roadmap,” said Memphian Jim Witherington, one of the donors to the Slingshot IMPACT Fund. “This unbiased analytical rigor ensures donors that their funding is earning a high ROI and is making a difference in attacking poverty in Memphis.”

Slingshot also announced it has added seven poverty-fighting nonprofits to its portfolio, which now stands at thirty:

  • Boys and Girls Clubs of Greater Memphis
  • Economic Opportunities
  • Girls Inc. of Memphis
  • LITE Memphis
  • Memphis Teacher Residency
  • Room in the Inn-Memphis
  • YWCA Greater Memphis

Each of these organizations will participate in the Slingshot Impact Assessment in 2021 and be eligible for funding from Slingshot’s IMPACT Fund. “The process has been amazing,” said DeAndre Brown, Executive Director of Lifeline to Success. “It has provided us with insight and reflection… the methodology is impeccable and revolutionary.”

“We celebrate these organizations as they will strengthen and expand a feedback loop that provides nonprofits and donors with new insights that enable more evidence-based decision making,” said Justin Miller, CEO of Slingshot Memphis.

“The Soulsville Charter School is honored to be Slingshot’s first school partner, and we highly value the impact assessment process and results,” said NeShante Brown, Executive Director of the Soulsville Charter School. “We entered the process with excited anticipation of the opportunity for reflection and growth, and Slingshot has delivered. We look forward to Slingshot’s continued engagement with Soulsville as we enhance our poverty-fighting impact.”

“We celebrate these organizations as they will strengthen and expand a feedback loop that provides nonprofits and donors with new insights that enable more evidence-based decision making,” said Justin Miller, CEO of Slingshot Memphis. Over the next three years, Slingshot plans to add an additional 30-50 organizations to its portfolio.

About Slingshot Memphis:

Slingshot Memphis is an independent assessor of poverty-fighting impact. We help identify nonprofits with the evidence or potential to create the most poverty-fighting impact and provide an objective assessment of their performance. We then work alongside nonprofits to identify opportunities for growth to enhance their capabilities and impact. Finally, we directly invest in nonprofits, and influence further investments, to help amplify high-impact interventions and address opportunities for growth. To learn more about Slingshot, visit http://www.slingshotmemphis.org/.

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