Tzedek DC is honored to announce a new partnership and significant award from the ImpactFool (IF) Fund* as part of the inaugural program of The Motley Fool Foundation. The $300,000 unrestricted grant will be distributed over three years to support Tzedek DC’s mission of safeguarding the legal rights and financial health of DC residents with low incomes facing the often-devastating consequences of debt collection and credit-related obstacles. In addition, The Foundation will provide thought partnership as Tzedek DC continues to grow and deepen its impact towards ending the racial wealth gap in DC.
This award, granted to just two organizations after an extensive open-call process, represents the inaugural year of The Motley Fool Foundation’s new program. The ImpactFool (IF) Fund applies a venture capital approach to find, fund, and support innovative nonprofit models that enhance Financial Freedom and hold great promise for impact at scale.
Tzedek DC carries out our mission as anti-racism work in response to the massive wealth gaps tracking race in DC and nationwide and predatory lending and debt collection practices that disproportionately target communities of color. Without legal help, default judgments, impaired credit ratings, and outstanding fines and fees lead to problems that reduce future job prospects and harm long-term financial stability. In the worst cases, unfavorable debt judgments can set off a spiral of events leading to unemployment, homelessness, and/or prison.
“Tzedek DC is grateful to be in collaboration with The Motley Fool Foundation working together to expand access to justice within our DC community,” said Tzedek DC’s Founding President & Director-Counsel, Ariel Levinson-Waldman.
“At Tzedek DC, we see passionate experts helping households stay on the path to financial freedom at the individual level, and also using what they learn from those experiences to advocate for policy changes that benefit thousands of DC residents,” said Sean Milliken, Managing Director of The Motley Fool Foundation. “We believe their approach has the potential to improve the potential of financial freedom for Americans in communities nationwide."
About Tzedek DC
Tzedek DC’s name is drawn from the ancient Jewish teaching “Tzedek, tzedek tirdof,” or “Justice, justice you shall pursue.” Headquartered at the University of the District of Columbia David A. Clarke School of Law, and with offices also in Ward 8, Tzedek DC is a nonprofit organization. Our mission is to safeguard the legal rights and financial health of DC residents with lower incomes facing the often-devastating consequences of debt collection and credit-related obstacles. This mission is carried out as anti-racism work in response to the massive wealth gaps tracking race in DC and nationwide. Tzedek DC seeks to serve and empower its client base, which is comprised of 90% Black residents, 60% women, and 25% disabled community members. Our strategic approach combines three synergistic activities: (i) free direct services—legal representation and advice, and financial counseling; (ii) working in coalition to make systemic change; and (iii) providing bilingual community legal education on debt collection, identity theft, and credit management. Since 2017, Tzedek DC has served over 4,000 client households in legal matters and catalyzed systemic reforms benefiting hundreds of thousands of DC residents.
About The Motley Fool Foundation
The Motley Fool Foundation is a 501(c)3 public charity that leverages the expertise and resources of The Motley Fool to drive impactful philanthropic initiatives aimed at improving access to Financial Freedom. By combining innovative funding approaches with strategic support, the Foundation strives to create lasting change in communities across the United States.
*The ImpactFool Fund is not a traditional investment fund—but rather, it is a Venture Philanthropy Fund where donations from our community are awarded to other nonprofits by The Motley Fool Foundation.