Paul Carttar, director of the federal government's new Social Innovation Fund since April 2010, will step down at the end of this month, the Corporation for National and Community Service said.
Idara Nickelson, the corporation's chief investment officer, will become the fund's new director, Wendy Spencer, the agency's chief executive, said in an e-mail to associates.
Mr. Carttar, a nonprofit expert with a wide range of experience in philanthropic, academic, government, and business, was the first director of the Social Innovation Fund, a grants program championed by President Obama to provide money to help nonprofits expand effective social programs.
Housed in the national-service agency, it has a budget of $45-million this year, with additional money provided by nonprofits and foundations.
Ms. Spencer said Ms. Nickelson, who has also served as the corporation's chief of program operations, would retain her position as chief investment officer. "In this dual role, she will oversee the development and execution of a program-investment strategy that maximizes impact and supports innovation and evidence-based practice," she added.
Mr. Carttar is "considering a number of options" after leaving the corporation but does not yet have firm job plans, an agency spokesman said.