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Follow Your Dream Foundation Inc / Livelihood Impact Fund

Annual Giving
$23.2M
Grant Range
$100K - $0.3M

Follow Your Dream Foundation Inc / Livelihood Impact Fund

Quick Stats

  • Annual Giving: $23,201,613 (2023)
  • Success Rate: Not publicly available
  • Decision Time: Not publicly specified
  • Grant Range: $100,000 - $250,000 (over 3 years)
  • Geographic Focus: Primarily East and West Africa (Kenya, Ghana, Nigeria, Uganda, Malawi, Zimbabwe, Zambia); also supports select US-based organizations
  • Application Method: Rolling intake via online form

Contact Details

Address: 45 West 36th Street, 8th Floor, New York, NY 10018

Email: jeremy@followyourdream.org

Website: https://www.livelihoodimpactfund.org/

Phone: Not publicly listed

Overview

Follow Your Dream Foundation Inc (EIN 38-3581515) was established in December 2001 and operates the Livelihood Impact Fund, founded in 2021 by Dr. Lisa Minsky-Primus, Yaron Minsky, and Jeremy Hockenstein. With total assets of $43.7 million and annual revenue of $45.7 million (as of 2024), the foundation distributed $23.2 million in grants in 2023 (64 awards). The organization has a 3/4 star rating from Charity Navigator with a score of 80% and maintains an impressive 99.16% program expense ratio, demonstrating nearly all funds go directly to programs. The foundation's mission is to meaningfully and durably improve the lives of the global poor by supporting programs that increase people's ability to support themselves and their families through skills, capital, and opportunities. Initially focused on Cambodia through partnerships with Digital Divide Data, the foundation has expanded its geographic reach primarily across Africa while maintaining its core commitment to livelihood development and economic empowerment.

Funding Priorities

Grant Programs

Livelihood Impact Fund - Core Grants

  • Amount: $100,000 - $250,000 in unrestricted funding over 3 years
  • Structure: Typically no more than 30% of an organization's annual budget
  • Support: Multi-year, trust-based funding combined with capacity building support
  • Application: Rolling intake via online Lab Intake Form

Livelihood Impact Lab

  • Target: African-led organizations with budgets between $150,000 and $1 million
  • Focus: Data-driven, early-stage organizations
  • Geographic Priority: East and West Africa (Kenya, Ghana, Nigeria, Uganda, Malawi, Zimbabwe, Zambia)

Priority Areas

The foundation focuses on three primary sectors:

  1. Agriculture: Smallholder farmer productivity and regenerative agriculture practices
  2. Entrepreneurship: Micro, small, and medium enterprise development and business growth programs
  3. Workforce Development: Employability training programs across various industries

Impact Criteria: The fund backs scalable, high-impact programs that deliver at least five times returns in future earnings for every dollar spent, prioritizing measurable outcomes such as income growth and lives transformed.

Organizational Stage: Supports both young and established organizations that demonstrate commitment to innovation, program improvement, and aspire to expand their impact over the next 3-10 years.

Geographic Focus: While East and West Africa remain the primary focus, the fund now supports organizations in additional African countries and select organizations operating in the United States and globally.

What They Don't Fund

Information about specific exclusions is not publicly documented, though eligibility criteria suggest focus on African-led organizations with budgets under $1 million for the Lab program.

Governance and Leadership

Jeremy Hockenstein - Co-Founder and Managing Director

  • Former McKinsey & Company management consultant
  • MBA from Massachusetts Institute of Technology, BA in Economics from Harvard
  • Founded Digital Divide Data in 2001 in Cambodia, creating innovative work/study programs that enabled disadvantaged youth to gain employment and education simultaneously
  • Since 2001, his work with Digital Divide Data trained over 2,000 youth, employed more than 1,500, and graduated over 500 to better-paying jobs
  • Graduates of programs he founded earn more than four times the average annual income in Cambodia and Laos
  • Skoll Foundation recognized social entrepreneur

Dr. Lisa Minsky-Primus - Co-Founder and Funder

  • Actively involved in fund operations and strategy

Yaron Minsky - Co-Founder and Funder

  • Actively involved in fund operations and strategy

Key Personnel:

  • Abigail Steinberg - Executive Director (Eyeglasses Initiative/Livelihood Impact)
  • Amolo Ngweno - Director
  • Jana Hardy - Director (specific initiative)
  • Kate Sabot - Director (specific initiative)

Application Process & Timeline

How to Apply

The Livelihood Impact Fund accepts applications through a rolling intake process:

  1. Submit Lab Intake Form: Organizations can apply via the Livelihood Impact Fund Lab Intake Form available through their website
  2. Eligibility: African-led organizations with budgets between $150,000 and $1 million
  3. Due Diligence: The Livelihood Impact Fund team conducts its own due diligence and sourcing, also leaning on peer funders and partners to identify projects to support

Current Application Deadline: December 31, 2025 (appears to be a rolling intake with periodic deadlines)

Decision Timeline

Specific decision timelines from application to funding decision are not publicly disclosed. Organizations should expect a thorough due diligence process given the multi-year funding commitment.

Success Rates

Success rates and application volumes are not publicly disclosed.

Reapplication Policy

Information about reapplication policies for unsuccessful applicants is not publicly available.

Application Success Factors

Impact Measurement Focus: The fund prioritizes organizations that can demonstrate measurable outcomes. They seek programs that deliver "at least five times returns in future earnings for every dollar spent," indicating a strong emphasis on quantifiable impact and cost-effectiveness.

Data-Driven Approach: The Livelihood Impact Lab specifically seeks "data-driven, early-stage" organizations, suggesting successful applicants should have robust monitoring and evaluation systems or demonstrate commitment to developing them.

Growth Trajectory: The fund looks for organizations that "aspire to expand their impact over the next 3-10 years," indicating they prefer organizations with realistic but ambitious growth plans rather than those maintaining current scale.

African Leadership: For the Lab program, being "African-led" is a specific requirement, reflecting the fund's commitment to supporting locally-driven solutions.

Organizational Capacity: The fund offers capacity building support alongside funding, suggesting they're open to organizations that may need operational strengthening but show strong potential and commitment to improvement.

Portfolio Examples:

  • FarmWorks (Kenya): An agritech startup using AI to improve agricultural production
  • BeaconHealth (Nigeria): Addressing vision health disparities through optical screenings and affordable eyeglasses distribution across extensive clinic networks
  • Mnandi Africa: Agriculture-focused organization

Funding Philosophy: The foundation provides "unrestricted funding," demonstrating trust in grantee organizations to allocate resources where most needed. This suggests they value strong leadership and organizational judgment over highly prescribed program requirements.

Key Takeaways for Grant Writers

  • Demonstrate ROI: Emphasize measurable impact metrics, particularly income growth for beneficiaries. The fund's 5:1 return expectation means you should quantify how your program increases participant earnings relative to program costs.

  • Show Scale Potential: Present a credible 3-10 year growth plan. The fund is not interested in maintaining status quo but in organizations ready to expand their impact with appropriate support.

  • Budget Fit Matters: For the Lab program, ensure your organizational budget is between $150,000-$1 million. Grant amounts typically don't exceed 30% of annual budget, suggesting they prefer to be a significant but not dominant funder.

  • Leverage Network Connections: The fund explicitly states they "lean on peer funders and partners to identify projects to support." Building relationships with other funders and organizations in their network may increase visibility.

  • African Leadership Required: For Lab grants, ensure your organization is genuinely African-led, not just African-based with international leadership.

  • Sector Alignment: Focus on agriculture, entrepreneurship, or workforce development with clear livelihood improvement outcomes. Programs outside these three sectors are less likely to be competitive.

  • Unrestricted Funding Approach: The fund provides unrestricted support with capacity building, suggesting they're looking for strong organizational leadership capable of strategic decision-making rather than organizations seeking funding for a single project.

References

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