The Inherent Prize: Official Rules

  1. Enter the Inherent Group, LLC (“Inherent”) “Inherent Prize” Promotion (“Promotion”) showing how your business/organization (or one that you believe should be nominated, with the nominee’s consent) is tackling tough issues facing our society, such as social issues (including criminal justice), education (including early childhood), health and wellness, environmental quality, and/or financial inclusion. The company/organization should have 2 to 15 full time staff members and must be incorporated and domiciled in the US, primarily operating in the US, and serving the US population. In addition, to be eligible, for-profit companies must be “mission-first” and non-profit organizations must generate at least approximately 1/2 of their operating budget from earned revenue (i.e. not from grants or donations). Company revenues or signed contracts for the 12-month period preceding the entry deadline should be between approximately $25,000 and $5,000,000.
  2. From among all applications completed by the deadline, the top finalists (the actual companies/organizations) will be selected (“Finalists”). (Only entrants who complete the application form will be eligible for selection as a Finalist.) To proceed further, each Finalist must complete the additional entry and due diligence process, which will include signing of an agreement with provisions for non-disclosure of confidential information and consent for Inherent to use the company’s/organization’s name and information without payment or consideration. The entry and due diligence process will include submission of an outline for planned usage of the winning funds showing how the company/organization will use the funds (and the timing of such use) to tackle the social issues referenced in section 1 above along with other materials. Do not submit any confidential information as part of the entry or application process. Neither Inherent nor NationSwell, LLC will be responsible for protecting any such information submitted during the entry or application process.
  3. All entries must be received by 5 p.m. ET on June 30, 2016. Finalists will be announced no later than September 15, 2016. The Finalist entry and due diligence process will commence no later than September 16, 2016 and end no later than October 31, 2016. Winners will be announced at the NationSwell Summit in New York City on a date to be determined in mid-November, 2016. A prize winner representative must be present at the Summit in NYC to claim the prize (event ticket complimentary to winner), and must complete an Affidavit of Eligibility and Release.
  4. There will be two non-dilutive cash prizes: a Grand Prize of $50,000 and a Second Prize of $25,000. The $50,000 Grand Prize will be awarded in two tranches: the first $25,000 within 30 days of the winner announcement and the final $25,000 within six months of the first tranche. The $25,000 Second Prize will be awarded in two tranches: the first $20,000 within 30 days of the winner announcement and the final $5,000 within six months of the first tranche. If a prize winner ceases to operate on or before December 31, 2017, then any unspent prize monies must be returned to Inherent. Additional mentorship and support may be provided to help the winners scale their work on social issues. Prize winners must timely submit periodic progress reports to Inherent during the annual period following the prize award.
  5. Finalist and winner selection will be based on the judge’s opinion as to which companies/organizations are best able to have an impact on the social issues listed above. Selection of Finalists and winners, and all decisions relating to the Promotion, will be determined by Inherent, whose decisions in all regards will be in its sole discretion and will be final and binding. If there is an insufficient number of qualified entrants for the selection of Finalists or awarding of the prizes, then Inherent reserves the right not to award any or all of the prizes or announce any Finalists.
  6. Any applicable taxes on any prize are the sole responsibility of the winners. The Promotion will be subject to and interpreted under the laws of the State of New York. By participating, entrants consent to the use of their names, likeness, entries and other information in advertising, promotion or publicity by Inherent. Inherent is not responsible for any lost, late or misdirected entries or materials, or for any computer, technical, telephone, software or digital problems or issues.
  7. In connection with the Promotion, Inherent Group has engaged NationSwell as a paid service provider.
  8. For a list of the winners, send a self-addressed stamped envelope to Winners List, “Inherent Prize” Promotion c/o Inherent Group, LLC, 510 LaGuardia Place, 5th Floor, New York, NY 10012.