Quality Jobs Fund

Quality Jobs Fund

Funder: New World Foundation
Focus Area: Job quality, economic development, workforce development
Established: 2017
Total Investment: Over $100 million

Program Description

The Quality Jobs Fund invests in job quality and not just job creation to support the development of strong and sustainable working class communities. As one of the largest philanthropic efforts of its kind, the Fund catalyzes innovative solutions addressing systemic drivers of local economic decline.

Impact to Date

• Created thousands of new quality jobs
• Enhanced and grown hundreds of small businesses
• Trained and upskilled thousands of underserved workers

Key Focus Areas

• Job quality and sustainable employment
• Small business development and growth
• Workforce training and upskilling
• Community economic development
• Building prosperous, vibrant, and strong communities
• Combating community deterioration in economically distressed areas

Investment Approach

As an impact-first investment initiative, the Fund uses a combination of:
• Grants
• Mission-related investments (MRIs)
• Program-related investments (PRIs)
• Other philanthropic products and strategies
• Field-leading philanthropic investment innovations

Grantee/Investment Types

• Quality job-producing small business companies
• Social impact investment funds
• Community Development Financial Institutions (CDFIs)
• Workforce development organizations
• For-profit and nonprofit enterprises and funds tied to quality job growth

Current Portfolio Partners

CVF Capital Partners, Central Valley Fund, Pacific Community Ventures, Project Equity, Shared Capital Cooperative, Prestamos CDFI, HCAP Partners, NDWA Labs, Homeboy Industries, AiiM Partners, Baltimoreans United in Leadership Development, JFFVentures, FreeWorld, The Forestry and Fire Recruitment Program, Carina, Turning Basin Labs, The Workers Lab, Per Scholas, Phoenix Families and Workers Fund, Resilience Force, ICA Fund, The 22 Fund, ACCESS Community Capital, Merit America, Roberts Enterprise Development Fund, HBI

Geographic Scope

United States, with focus on economically distressed areas nationwide

Contact Information

New World Foundation 627 West End Avenue New York, NY 10024