Snap Foundation: LA Young Creatives Fund
Snap Foundation is partnering with Mission Asset Fund to launch the Los Angeles Young Creatives Fund, which will support artists and creatives ages 18-30 who earn at least half of their income through the creative economy. Each individual will receive both a $500 grant and a $500 0% interest loan. The fund chose this strategy to both get funds into the community quickly and recoup funds for future investment. The fund is using an equity lens by targeting outreach to low-income communities of color and using the 2019 HUD low-income guidelines for LA County for eligibility screening. Snap Foundation contributed $2.5M, with additional fundraising being led by Mission Asset Fund. The fund is in communication with CCF to avoid duplication of efforts with existing funds. To learn more, contact Shawn Kravich, Executive Director of Snap Foundation.