Invest in Our Future (IOF) is a left-of-center philanthropic collaborative established to support the implementation of three pieces of legislation passed during the Biden administration: the Inflation Reduction Act of 2022, the Infrastructure Investment and Jobs Act of 2021, and the CHIPS and Science Act of 2022. It is a fiscally-sponsored project of RF Catalytic Capital, which is itself a subsidiary of the Rockefeller Foundation.

Establishment

Invest in Our Future was founded in January 2023 by the William and Flora Hewlett Foundation, the John D. and Catherine T. MacArthur Foundation, the David and Lucile Packard Foundation, and the Rockefeller Foundation. Other contributions have been made by Bill Gates‘s Breakthrough Energy, the Charles and Lynn Schusterman Family Philanthropies, the Zegar Family Foundation, and the Ballmer Group. The fund was launched with $180 million and expressed the intention to spend $60 million over its first three years. The fund has a stated goal to raise $500 million by 2026. ^{1 2 3}

Controversy

According to left-of-center philanthropic news outlet Inside Philanthropy, Invest in Our Future’s founders had disagreements about how the fund’s money should be spent. IOF’s initial leader, Aimee Witteman, who formerly worked at the U.S. Department of Energy and the McKnight Foundation, left IOF after only five months in the role. ⁴

Also according to Inside Philanthropy, IOF’s founding partners have struggled over how to prioritize “equity” in their grants. It reported that insider sources have stated that some managers are concerned that the fund is prioritizing nonprofits over supporting state and local governments in traditionally underserved communities. Allegedly, the Kresge Foundation was initially interested in contributing to IOF, but backed out over equity concerns, though the foundation made a public statement praising IOF and committed to pursuing similar goals on its own. ⁵

Goals

Invest in Our Future assists Americans in applying for the $1 trillion in federal grants created or expanded by the Inflation Reduction Act of 2022, the Infrastructure Investment and Jobs Act of 2021, and the CHIPS and Science Act of 2022. IOF particularly emphasizes supporting grants for weather-dependent energy-related initiatives and jobs. ^{6 7}

The Inflation Reduction Act is a major bill that authorized $500 billion in new spending and tax credits, including reducing carbon emissions by subsidizing weather-dependent energy, electric vehicles, and other environmental initiatives. ⁸

The Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law, allocates $1.2 trillion, including $550 billion in new spending, to various infrastructure repair and improvement projects over ten years. ⁹

The CHIPS and Science Act authorized $280 billion in new spending to subsidize technology research and development, including $52 billion for semiconductor manufacturing. The act also authorizes spending $174 billion through various federal agencies to support the STEM workforce. ¹⁰

Grants

As of July 2023, Invest in Our Future released notifications on four grant recipients: the Families and Workers Fund, the Alliance for Tribal Clean Energy (formerly known as Indigenous Energy Initiative), the Rural Climate Partnership (a project of the Heartland Fund), and Rewiring America (a project of the Windward Fund). ¹¹

Leadership

Peter Colavito is the executive director of Invest in Our Future. Colavito has worked as a strategic planning, campaigns and coaching consultant for left-of-center organizations and executives since 2018, and has consulted for the Service Employees International Union (SEIU), the Natural Resources Defense Council, the Open Society Foundations and the American Civil Liberties Union (ACLU). Colavito previously worked as a senior advisor to the president and secretary-treasurer of the SEIU, and earlier worked as the organization’s chief of staff and government relations director. ^{12 13}

IOF operations manager Luke Branscum helped create IOF as a consultant and was the organization’s first official employee. Branscum was appointed by the Biden administration to the U.S. Department of Energy‘s Office of Nuclear Energy, Office of the Secretary, and Office of Congressional and Intergovernmental Affairs. ¹⁴

IOF program director Leah Fisher previously led California’s statewide climate change planning at the California Department of Transportation. Earlier, she worked as a senior advisor for the California Strategic Growth Council and the California Governor’s Office of Planning and Research where her work included creating grant programs “that center racial justice and equity in advancing community-driven planning and research.” Earlier in her career, Fisher worked at the U.S. Department of Energy and the National Oceanic and Atmospheric Administration. ¹⁵

1. Kavate, Michael. “Climate Philanthropy Giants Launch $180 Million Fund to Implement Federal Legislation.” Inside Philanthropy. July 18, 2023. Accessed January 14, 2024. https://www.insidephilanthropy.com/home/2023/7/18/climate-philanthropy-giants-launch-180-million-fund-to-implement-federal-legislation.
2. “About Us.” Invest in Our Future. Accessed January 13, 2024. https://www.investinourfuture.org/about-us#the-opportunity.
3. “Search Grants: Invest in Our Future.” Ballmer Group. Accessed January 14, 2024. https://www.ballmergroup.org/grants?param=Climate.
4. Kavate, Michael. “Climate Philanthropy Giants Launch $180 Million Fund to Implement Federal Legislation.” Inside Philanthropy. July 18, 2023. Accessed January 14, 2024. https://www.insidephilanthropy.com/home/2023/7/18/climate-philanthropy-giants-launch-180-million-fund-to-implement-federal-legislation.
5. Kavate, Michael. “Climate Philanthropy Giants Launch $180 Million Fund to Implement Federal Legislation.” Inside Philanthropy. July 18, 2023. Accessed January 14, 2024. https://www.insidephilanthropy.com/home/2023/7/18/climate-philanthropy-giants-launch-180-million-fund-to-implement-federal-legislation.
6. Kavate, Michael. “Climate Philanthropy Giants Launch $180 Million Fund to Implement Federal Legislation.” Inside Philanthropy. July 18, 2023. Accessed January 14, 2024. https://www.insidephilanthropy.com/home/2023/7/18/climate-philanthropy-giants-launch-180-million-fund-to-implement-federal-legislation.
7. “How We Help.” Invest in Our Future. Accessed January 14, 2024. https://www.investinourfuture.org/how-we-help.
8. “The Inflation Reduction Act: Here’s what’s in it.” McKinsey. March 24, 2022. Accessed January 14, 2024. https://www.mckinsey.com/industries/public-sector/our-insights/the-inflation-reduction-act-heres-whats-in-it.
9. “The US Bipartisan Infrastructure Law: Breaking it down.” McKinsey. November 12, 2021. Accessed January 14, 2023. https://www.mckinsey.com/industries/public-sector/our-insights/the-us-bipartisan-infrastructure-law-breaking-it-down.
10. “The CHIPS and Science Act: Here’s what’s in it.” McKinsey. October 4, 2022. Accessed January 14, 2024. https://www.mckinsey.com/industries/public-sector/our-insights/the-chips-and-science-act-heres-whats-in-it.
11. Kavate, Michael. “Climate Philanthropy Giants Launch $180 Million Fund to Implement Federal Legislation.” Inside Philanthropy. July 18, 2023. Accessed January 14, 2024. https://www.insidephilanthropy.com/home/2023/7/18/climate-philanthropy-giants-launch-180-million-fund-to-implement-federal-legislation
12. “Our Team.” Invest in Our Future. Accessed January 14, 2024. https://www.investinourfuture.org/our-team.
13. “Peter Colavito.” LinkedIn. Accessed January 14, 2024. https://www.linkedin.com/in/peter-colavito-74234b30/.
14. “Our Team.” Invest in Our Future. Accessed January 14, 2024. https://www.investinourfuture.org/our-team.
15. “Our Team.” Invest in Our Future. Accessed January 14, 2024. https://www.investinourfuture.org/our-team.