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Obama asks for $50M for non-profit program

U.S. President Barack Obama (R) shakes hands with Sen. Ted Kennedy (D-MA) prior to signing the Edward M. Kennedy Serve America Act at an event at The SEED Public Charter School in Washington on April 21, 2009. (UPI Photo/Martin H. Simon/Pool)
U.S. President Barack Obama (R) shakes hands with Sen. Ted Kennedy (D-MA) prior to signing the Edward M. Kennedy Serve America Act at an event at The SEED Public Charter School in Washington on April 21, 2009. (UPI Photo/Martin H. Simon/Pool) | License Photo

WASHINGTON, May 5 (UPI) -- U.S. President Barack Obama said he will seek $50 million for the Social Innovation Fund, which would identify and expand effective, creative non-profits.

The fund would identify what works in the nation's communities, provide growth capital for the programs and improve use of data and evaluation to raise the level and quality of programs the government would fund, the White House said Tuesday in a release.

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The Social Innovation Fund, authorized in the recently signed Edward M. Kennedy Serve America Act, will focus on priority policy areas such as education, healthcare and economic opportunity, the White House said. It will partner with foundations, philanthropists and corporations that will commit resources, funding, and technical assistance.

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