Old National Bank Foundation Grant Supports CICOA’s Wrinkle Innovation Studio

CICOA Aging & In-Home Solutions announced that it has received a grant of $10,000 from the Old National Bank Foundation in support of Wrinkle Innovation at CICOA. Funds will be used to build out our staff infrastructure with the goal of making Wrinkle Innovation an external capital funded venture enterprise.

“We are thankful for the gift from the Old National Bank Foundation in support of Wrinkle Innovation at the CICOA Foundation,” said Steve Gerber, chief development officer at CICOA. “Wrinkle is a dynamic asset at CICOA, and this generous gift is assisting us to propel forward business venture ideas in the social care space. We are excited about the future of innovation as we continue to partner with wonderful organizations like the Old National Bank Foundation.”

Wrinkle Innovation consists of:

• Venture Philanthropy Studio – We invest in for-profit businesses that address the needs of our target population. These ventures generate revenue that can be reinvested in our mission and support the development of new solutions.
• Consulting Services – Wrinkle also offers consulting services to other nonprofits interested in exploring venture philanthropy.
• Capital – Private donors are increasingly looking for more impact from their gifts. Create opportunities, fuel future startups, and do good through new social programs that benefit a diverse community.

The nonprofit sector faces increasing pressure to find sustainable funding models. Wrinkle Innovation allows us to diversify our revenue streams and ensure long-term financial stability. But more importantly, it allows us to:

• Design the future of home and community-based care: We’re at the forefront of developing innovative solutions that improve the lives of those we serve.
• Drive social impact: Every Wrinkle venture is designed to create a positive impact in our community.
• Be a leader in venture philanthropy: We’re setting an example for other nonprofits by demonstrating the power of this innovative approach.

“The Foundation is proud to invest in organizations that work with measurable outcomes to strengthen our community,” said Joe Kiser, Foundation President.

About the Old National Bank Foundation

The Old National Bank Foundation believes that social responsibility is essential to fostering vibrant, sustainable communities. This belief is realized through strategic partnerships with charitable organizations addressing defined community needs. The Old National Bank Foundation makes contributions to nonprofit organizations to fund widespread community impact programs and/or projects. The Foundation is part of our overall charitable giving initiative, which enables us to support programs that improve quality of life in areas of Indiana, Illinois, Kentucky, Tennessee, Michigan, Minnesota, Iowa and Wisconsin. Learn more at www.oldnational.com.