Endowed with $500,000, the Initiative Fund's mission is to enhance the NYU community by addressing the immediate and diverse needs of its students. Administered by the Center for Student Life and directed by the Initiative & Conference Funding Committee, the fund provides a dedicated source of evergreen, annually renewed funding for student-driven and administration-executed projects. This novel approach allows for a swifter response to proposals, bypassing the often lengthy and cumbersome process of annual budget approvals. The fund's flexibility and accessibility make it a crucial tool for students seeking to make a meaningful impact on campus.

The Initiative Fund prioritizes proposals that demonstrate a clear and tangible benefit to the student body and the broader NYU community. Proposals are expected to be well-considered, feasible, and in line with the fund's purpose of fostering a vibrant campus life. Key aspects of a successful proposal include a good understanding of the problem or opportunity being addressed, a well-defined plan of action, and a clear demonstration of how the project aligns with the values and needs of the NYU community. The goal of the student-run committee that administers the funds on behalf of SGA is to support every student in pursuing their project regardless of their previous experience in pursuing funding from similar sources in the past.