Open Society Foundations Join Social Innovation Fund to Strengthen Communities and Spur Economic Growth

NEW YORK, May 27 /PRNewswire-USNewswire/ -- As part of an effort to fight poverty in the United States, the Open Society Foundations today announced a $10 million partnership with the federal government to support at-risk youth and increase economic opportunities in low-income communities.

The $10 million investment by the Open Society Foundations' Special Fund for Poverty Alleviation aims to build capacity in the non-profit sector and foster civic engagement to create new opportunities for low-income communities.

The Special Fund seeks to strengthen the social safety net, create jobs and increase educational opportunities for underserved communities across the U.S. The donation will be matched by the federal Social Innovation Fund as well as by private dollars. The Social Innovation Fund is administered by the Corporation for National and Community Service.

"This is a tremendous opportunity to leverage federal and philanthropic dollars to benefit communities that have been shut out," said George Soros, Chairman of the Open Society Foundations. "We need to shake up the way we do business and invest in innovative programs that can show results at scale."

Soros established the Special Fund for Poverty Alleviation to provide immediate relief to low-income communities in the U.S. hardest hit by the economic crisis.

Active in more than 70 countries, the Open Society Foundations work to build vibrant and tolerant democracies whose governments are accountable to their citizens. Working with local communities, the Open Society Foundations support justice and human rights, freedom of expression, and access to public health and education.

SOURCE Open Society Foundations