What is a Mayor’s Fund?
A Mayor’s Fund is a vehicle for corporate and philanthropic partners to invest in solutions that address a community’s most pressing and complex challenges. Successful Mayor’s Fund models utilize a public-private funding model to launch key community initiatives that improve quality of life.
About the Mayor’s Fund for Las Vegas LIFE
The Mayor’s Fund for Las Vegas LIFE was established by Mayor Carolyn G. Goodman and the Las Vegas City Council in 2017 as the primary mechanism for businesses, foundations and individual donors to invest in programs to improve the lives of Las Vegas residents. The fund is non-partisan and is designed to operate in a consistent manner, even as mayoral and city council administrations change over time. The Mayor, City Council, and city employees do not solicit the involvement of donors pursuant to city policy.
“The multiple causes of social problems, and the components of their solutions, are interdependent. They cannot be addressed by uncoordinated actions among isolated organizations.”
– John Kania & Mark Kramer, Stanford Social Innovation Review
How Is The Fund Managed?
- Fiscal Management: Nevada Community Foundation, a 501(c)(3) nonprofit charitable organization, serves as the fiscal agent, receiving all private donations and providing donors with charitable contribution tax documentation.
- Monitoring and Reporting: The city of Las Vegas coordinates the Mayor’s Fund to ensure all programs are implemented as intended and supporters know the impact of their donations.
- Guidance: An Advisory Committee of local business and community leaders also provides input and guidance to the Mayor’s Fund to ensure programs are set up for success.