Katie Macc of the Sorenson Impact Institute and Margot Brandenburg of Ford Foundation Answer Questions About the Collaboration Fund

The impact investing movement’s impressive scale in recent years can be credited in large part to an expansion of dynamic, courageous field-building organizations. Yet in today’s environment, the collective philanthropic need of these important organizations exceeds available funding. 

To support a more sustainable and effective ecosystem for the impact sector, The Sorenson Impact Institute released an RFP for the Collaboration Fund, a $1 million pooled grant fund that includes an anchor commitment from the Ford Foundation and support from the John D. and Catherine T. MacArthur Foundation. The Collaboration Fund aims to strengthen the impact investing ecosystem by reducing fragmentation and financial stress among nonprofit field-building organizations in the impact investing and inclusive capital ecosystems.

What is The Collaboration Fund, and Who Can Apply?

Targeting nonprofit field-building organizations in the impact investing and inclusive capitalism space, the fund’s mission is to create collective value and benefits for the field. The hope is that the fund will help remove some of the barriers to mergers, acquisitions, and other forms of deep collaboration across the impact investing sector by providing financial support for integration costs.

Since its release, the RFP has received a tremendous response and an influx of inquiries. To address these questions, in April 2026, the Institute hosted a live Q&A session designed to share more about the opportunity. 

At the informational session, Katie Macc, CEO of the Sorenson Impact Institute, and Margot Brandenburg, Senior Program Officer at the Ford Foundation, provided an overview of the Collaboration Fund RFP, including its goals, qualifications, and potential uses of proceeds, and addressed audience questions.

A selection of the topics Katie and Margot answered in the session includes:

• How an impact investing field-building organization is defined for the purposes of this RFP
• The types of collaborations or mergers being considered 
• The specific types of organizations and work the fund is looking to support
• How long funded projects can take, and whether already in-progress mergers would be considered 
• How the Institute will support strategic consolidation rather than simply reinforcing the dominance of the largest players
• The motivation for the fund, and how it relates to the number of organizations versus the pool of available funding

Learn more about the Collaboration Fund and how you can apply.

Watch the full session here:

Collaboration Fund Live Informational Session Audience Q&A

We received an overwhelming number of questions during our live informational session. Below are the questions asked that we did not have time to address live. The questions have been consolidated and organized for ease of review.

Project Eligibility & Fit

What types of collaboration qualify (e.g., mergers, shared services, alliances, platforms, joint products, LP structures, public-private partnerships)? To what extent is the fund focused on M&A vs. other forms of collaboration or shared infrastructure? Would collaborations (without a merger) still be eligible?

The fund is primarily focused on mergers, acquisitions, and deeply integrated strategic collaborations. While M&A is a core priority, other models are eligible if they achieve similar outcomes (e.g., consolidated efforts, stronger coordination, reduced duplication) and include clear and substantive integration. These could include shared services or joint infrastructure. The key is that the integration must meaningfully reduce fragmentation and lead to durable, system-level efficiency.

At what stage of collaboration or merger must organizations be to apply? Can the fund support earlier stages, such as feasibility studies, market analyses, or pre-merger exploration work?

The fund can support a range of stages, including early exploration, feasibility studies, early merger discussions, diligence, and in-process integrations. Applications for earlier stages should convey real intent and actionable exploration.

Are “soft infrastructure” or ecosystem-building efforts (e.g., convenings, shared systems, data platforms, knowledge infrastructure, AI tools, coordination platforms) eligible

The fund will only support the merging of current efforts, not the building of new efforts for ecosystem building.

Are catalytic capital models or ecosystem-wide coordination efforts considered “collaboration” under this fund?

No, coordination and new models are not the focus of this fund. We are focused on M&A of current efforts.

Would the acquisition of assets such as datasets, relationships, or smaller organizations be eligible?

Yes, if clearly tied to consolidation within the market.

How do you evaluate projects that prioritize revenue growth, reach, or impact over cost reduction?

At the core, the fund will prioritize system-level efficiency, reduction of overlapping efforts, deep integration models, and increased impact over other factors. The prioritization of additional factors would be specific to the proposals.

Organizational Eligibility

What types of entities are eligible (e.g., nonprofits, for-profits, hybrid models, fiscally sponsored organizations)?

Nonprofit organizations or international equivalent structures are the primary target for this funding. For-profit entities may be involved in the collaboration, with funding granted to the nonprofit partners within the proposal. Any hybrid structures will be evaluated on a case-by-case basis.

Can consortiums or partnerships apply jointly? Does the lead need nonprofit status?

Yes, and multi-organization applications are encouraged. The nonprofit or equivalent structure organization should lead the proposal submission and have a core role in the proposed integration.

Are consulting firms or intermediaries eligible to apply or participate?

Consultants and intermediaries cannot lead the proposal submission but may participate in the proposed activities and collaboration alongside target organizations.

What size or stage of organizations are you targeting (e.g., large orgs vs. coalitions of smaller orgs)?

There is no target size or minimum threshold for proposals. There is also no limit on the number of organizations within the proposed consolidation of efforts.

Are current grantees of the funders eligible?

Generally, yes.

Are sector-specific collaborations (e.g., CDFIs, ESOs, workforce development, university systems) within scope?

Yes, however, the center of the focus is on field builders within the impact investing ecosystem. The closer an organizational merger is to that target center, the more likely it is to be funded.

Are projects advancing inclusive capital markets or economic mobility (globally or locally) considered aligned?

Yes, any field-building organization within impact investing or the inclusive capital ecosystems is eligible.

What qualifies as part of the “impact investing ecosystem”? Which asset classes are included?

All asset classes are included. The impact investing ecosystem includes organizations with a mission to create collective value and benefits for the field that everyone can use, such as:

• Create shared infrastructure, such as measurement standards, common language, or open-source frameworks.
• Convene or bring together people and organizations toward common goals and objectives.
• Produce publicly available resources, such as critical research that helps catalyze growth and positive outcomes in impact investing.
• Build capacity through training, thought leadership, and education.
• Advocate for conditions that enable market growth and positive outcomes.
• Create other outcomes intended to benefit the field and create collective value.

Geographic Eligibility

Are there geographic restrictions on where applicants must be based or operate? Can non-U.S.-based organizations apply? Is a US partner required?

The fund is open to US and international organizations from all geographies, as long as they meet the criteria of a nonprofit-equivalent working in field-building within impact investing. A US partner organization is not required.

Is there a minimum or preferred geographic scope for projects?

No, and no preference for US-based or multi-country efforts.

Funding Scope, Costs & Use of Funds

What types of costs are eligible (e.g., feasibility studies, legal, governance, integration, convening, infrastructure, staffing)?

The fund supports costs associated with the exploration and/or execution of integration efforts, potentially including the uses outlined above.

Can grants cover multiple cost categories, or must they be narrowly scoped? Are indirect costs allowed, and is there a cap?

There are no specific restrictions on cost categories. If a cost is in question, applications should clearly explain how it is a necessary component of integration.

Are there restrictions on how funds can be used?

Funds may only be used on costs directly associated with the activities of exploring or executing a systems-level integration or consolidation of efforts.

What level of organizational commitment is required at the time of application (especially for early-stage collaborations)?

Full commitment is not required to apply, as the funds can be used for exploratory activities to determine whether merging in any capacity is viable. However, proposals should demonstrate a good-faith intention to work toward the collaborative goal.

Grant Size, Structure & Process

What is the total funding pool, expected grant size, and number of recipients?

The total fund is $1M, with no specifications on expected grant size or number of recipients. Award amounts and the number of recipients will be determined by the activities proposed individually and across all applications.

Can organizations apply for multiple grants?

Yes, though applications need to demonstrate serious intent to work toward merging/integrating organizational- and systems-level operations to be eligible.

Who should submit the application (organization vs. consultant/partner)?

Applications should be submitted by the nonprofit organization leading or involved in the integration.

Are there formatting constraints (e.g., tables, word count rules)?

The Letter of Intent should be submitted in Word or PDF format and be under 1500 words. You can find the exact details of what to include on the “How to Apply” section of the Collaboration Fund page.

When will funds be disbursed, and over what timeline?

Full proposals (after an LOI and invitation to submit) are due on August 22, 2026. Funds will be distributed as one lump sum within 30 days of award notification.

Definitions, Expectations & Evaluation Criteria

What does “meaningful collaboration” look like in practice?

Meaningful collaboration includes full legal mergers, acquisitions, shared service integrations, programmatic consolidation, and other durable structural combinations that materially reduce overlap and increase field-level effectiveness.

Are you prioritizing reductions in fragmentation, the number of organizations, or something broader?

The goal is to reduce fragmentation and duplicative efforts, without a target number of organizations.

How do you define success—cost savings, increased impact, coordination, scale, or system-level change?

A successful use of funds would include better coordination, reduced duplication, stronger and more scalable organizations, and increased impact.

What balance are you seeking between public goods (ecosystem benefit) vs. organization-led solutions?

Both are welcome and eligible, with a preference for solutions that bolster the larger impact capital ecosystem.

What evidence of collaboration (e.g., shared systems, governance, data) is required?

Proposals should clearly define structure, roles, commitments, and activities. Exact evidence is dependent upon the application and the organizations involved.

Strategic Intent & Future of the Fund

Is this intended as catalytic/early-stage funding, with potential follow-on support? Will there be future funding opportunities for later-stage implementation after feasibility work?

The fund is intended as one-time funding specific to early-stage and/or in-progress work toward reduced fragmentation. Continuation of this fund is dependent on the applications we receive, learnings from this round of funding, and the availability of funds.

Could the fund help connect grantees to additional capital or investors?

Awards are granted funds and will not include operational or strategic support for execution. If we are aware of opportunities that may be an additive or alternative fit, we are happy to share that information, though it is not guaranteed.

How does the fund aim to address coordination challenges vs. simply funding consolidation?

The fund is designed to alleviate the often prohibitive cost burden associated with collaborative integration. We believe providing the funds for these activities has the potential to improve efficiency, strengthen the impact investing and inclusive capital ecosystems, and increase impact.

Is there interest in influencing broader systems (e.g., institutional capital, policy, investor participation)?

The fund aims to strengthen the overall impact investing and inclusive capital ecosystems. Application to broader systems may be relevant to these efforts and could certainly inform future iterations of the Collaboration Fund.

Are similar funding efforts being considered beyond this specific sector or geography?

While our specific effort is limited to the impact investing field building sector (and is global in nature), we hope that the learnings from our efforts will be taken up by funders in other sectors. We anticipate publishing data, insights, and learnings from the work with the aim of influencing other sectors to follow suit.

Learn more about the Collaboration Fund and how you can apply.