Slingshot Memphis aims to create a demonstrable reduction in poverty by promoting a results-driven poverty-fighting ecosystem. To accomplish this mission, Slingshot performs three critical functions.
First, Slingshot is uniquely positioned to help identify which organizations have the evidence or potential to create the most impact. Why is this important? Funders don't know where best to invest their resources, while individual poverty-fighting organizations must compete for limited funds. This climate is neither sustainable nor effective, especially for our under-resourced neighbors.
Second, Slingshot supports these organizations to maximize their poverty-fighting impact. We know that creating feedback loops, researching best practices, and examining system-level change are paramount to optimizing impact. We also know that most nonprofits do not have the bandwidth or resources to do these things. We believe Slingshot is the most effective means to fill this gap.
Third, Slingshot attracts and directs more dollars. Many of these dollars would not be invested otherwise. This includes private and public dollars.
Our Measurement Funders, alongside our Board of Directors, are committed to covering all operating costs. This unique framework guarantees that every cent of every dollar invested into Slingshot's IMPACT Fund will directly impact our city's highest-performing poverty-fighting programs.
Slingshot will strive to invest each dollar in the most expeditious and strategic way possible. Just as earlier investments in equities grow faster due to compounding interest, earlier investments in poverty reduction can reduce more suffering over time. We don’t wait.
Our data-driven analysis provides a tool by which to achieve consistently powerful outcomes, and it does so in a way that gives investors clear evidence (good or bad) about the impact of their actions.
Creating impact often requires a calculated and bold investment. When we pool our poverty-fighting investments, we gain the opportunity to make the scalable, high-impact investments that none of us could likely make alone.
Slingshot helps various partners explore and pursue public funding. These funding opportunities free private resources to invest in new innovation, new partner organizations, and new measurement systems that will lead to even more outside support. It’s a cycle that can grow poverty-reducing solutions with exponential speed.