The Donor Advised Fund and Fiscal Sponsorship
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SmartJob, LLC (“SmartJob”) has engaged ImpactAssets to be SmartJob’s charitable fiscal sponsor and to host the SmartJob Fund. The SmartJob Fund at ImpactAssets is the first fund of its kind in the world.
ImpactAssets is the leading facilitator of direct impact investing within donor advised funds, with $2.2 billion assets under management. SmartJob is the first company in the world dedicated to closing the disability wealth gap by catalyzing employment through impact investment.
The dynamic relationship between SmartJob and ImpactAssets will allow SmartJob to provide diligence and consulting services to ImpactAssets and the SmartJob portfolio, and for various field building initiatives and projects to be funded through ImpactAssets as a 501(c)(3) public charity that affords donors tax deductibility. Regina “Gina” Kline is the Executive Chairman of SmartJob, LLC. Tim Freundlich, Founder & Executive Director, Strategic Development leads the dedicated ImpactAssets relationship team for the SmartJob Fund.
How it Works
Donors make tax deductible grants to ImpactAssets to be placed in the SmartJob Fund. Balances are managed to match the liquidity needs of the program, and SmartJob acts as advisor to the donor advised fund.
SmartJob provides individual donor advisory services, investment pipeline and diligence, as well as programmatic services management. ImpactAssets deploys funds in coordination with the recommendations of SmartJob to disability-led solutions and early-stage companies; including via grants, seed stage equity, revenue-based financing, loans, venture capital and other investment structures, as well as consulting projects. Donors will have progress reported to them by SmartJob on an ongoing basis.
ImpactAssets will deploy funds in coordination with the recommendations
of SmartJob to disability-led solutions and early-stage companies.
To learn more about the benefits of donating through a Donor Advised Fund, check out a chapter that goes into detail about the advantages of DAFs from The ImpactAssets Handbook for Investors.
Donors
Donor advised funds can accept large and small contributions from individuals, foundations, venture funds, banks, and all types of corporations and business enterprises.
This includes individual investors looking to personalize and deepen their impact portfolio; foundations deploying investment capital into disability early-stage company development or new technologies; or corporations using impact investing as part of their CSR and ESG strategies and targeting the human capital investment needs of people with disabilities.
An Evergreen Fund for
People with Disabilities
ImpactAssets is an industry leader in impact investing, and in addition to providing investment management capabilities for funds awaiting deployment through the SmartJob Fund, it hosts an Evergreen Fund that, under the guidance and stewardship of SmartJob, is strategically placed into a diverse portfolio of investments that catalyze the sector, namely, the future of work for people with disabilities.
This approach ensures that SmartJob Fund has an indefinite fund life cycle, where returns from investments are sustainably recycled into the SmartJob Fund to be reinvested into future disability-led solutions and companies. ImpactAssets can also facilitate other donor advised funds to participate in SmartJob project funding, as well as to invest in the SmartJob portfolio and to contract with SmartJob for associated advisory and diligence services.
Working together, SmartJob and ImpactAssets will demonstrate to others what investment in creating jobs for people with disabilities should and could look like.
SmartJob Donor Counseling, Due Diligence, and Impact Measurement
SmartJob evaluates potential investments, helps donors assess the impact of their investments, assists ImpactAssets to deploy flexible capital, and reports back the results.
SmartJob advises and counsels donors about their philanthropic interests, preferences, and goals, and using a blended capital approach, assists them to assess the disability impact potential of prospective investments. SmartJob then assists ImpactAssets to deploy flexible capital consistent with donors' goals to companies and social enterprises in the United States and across the globe.
SmartJob performs its own due diligence process on potential investments, including an initial screen of investments to determine if they meet SmartJob standards for positive social impact in closing the disability wealth gap, such as increasing the employment and upward mobility of people with disabilities
supporting early-stage company development, and advancing new workplace technologies.
SmartJob performs market analysis, data assessment, due diligence, and makes final recommendations to ImpactAssets regarding investments. SmartJob also monitors, tracks, and reports the impact of investments.
SmartJob performs continuous outreach to the disability community and disability-led entrepreneurs in the
United States and globally.
SmartJob’s Continuous Outreach, Identification, and
Capacity-Building Services
As part of its capacity-building activities, SmartJob performs continuous outreach to the disability community and disability-led entrepreneurs in the United States and globally.
One of SmartJob’s core values is the belief that people with disabilities are able to identify the potential commercial performance of an early-stage company or solution better than any other single sector-specific information, and that those companies and solutions conceived of by or in partnership with individuals with disabilities, and universally designed, reflect a company’s future ability to raise capital and generate revenue.
SmartJob continues in its intensive sourcing process to seek committed partners to help us identify viable disability-led solutions and entrepreneurs as we discern the market viability of companies and impact on the future of work for individuals with disabilities.
SmartJob Accelerator Partners, Entrepreneurship Training, and Business Development Support Services
All of the impact investments that SmartJob sources, diligences, and evaluates may be supported by SmartJob’s entrepreneurship and business development training programs. SmartJob also partners with existing accelerator and entrepreneurship programs worldwide, to strengthen and scale capacity for business development of early-stage companies and ventures, and to assist new entrepreneurs in obtaining flexible capital.
Disclaimer: A contribution to an ImpactAssets Designated Fund represents an irrevocable contribution to ImpactAssets.
Contributions are eligible for a tax-deduction subject to the donor’s individual tax circumstances, are not refundable, become subject to ImpactAssets control and discretion once made, and shall not be deemed a separate trust fund held by ImpactAssets in a trustee capacity. There are a number of factors to consider when assessing the tax implication of gifts to charity. Individuals should consult with a tax specialist before making any charitable donations.