Interesting to see that Scope are the latest charity offering an investment opportunity to venture philanthropists. According to Third Sector, The Grangewood Venture Philanthropy Project involves supporters making donations of £2,800, supplemented by £700 of Gift Aid, and an interest-free loan of £7,000, to be repaid through the sale of the charity's existing property over three years. This is a harder edged offering to the really innovative Crisis Urban Investors package but never the less is worthy of consideration. As is, of course, a straight investment in Charity Bank which spends its time persuading risk averse charities to borrow money!
Something we could all bear in mind is that most of the Venture Philanthropists are, yes you've guessed it, Baby Boomers! We've made our money and are now willing to invest it (well some of it) in changing the world.
Midi Akerwusi describes Venture Philanthropists as: risk takers, calling the shots, fast decision makers, innovators (not sustainers),results orientated and, most importantly, ALWAYS RIGHT. Describes the boomers to a tee. So when you're thinking about innovative fundraising, major gifts and how to tap into this whole thing about "social enterprise and venture philanthropy" think - class of '48 the luckiest generation ever (according to the Observer). Then make your plans accordingly.
This does seem to be in the zeitgeist. If you look at: http://www.thirdsector.co.uk/news/Article/997340/a-new-method-funding/ Impetus Trust have been banging on about venture philanthropy for some time but only now are making inroads.
ReplyDeleteI like the article Peter, thanks.
ReplyDeleteI think there might be a further layer to consider here (which also links to your article about "marketing economics"). People tend to respond to, buy from, give to... people.
As a commercial sales and marketing chap, several years ago now, we were trained to target and appeal to both the organisation and the key individuals.
Consequently, I see no reason why venture philanthropists would be any different. Sure, the initial case for support/investment must comply with any organisational requirements but it must also account for the audience of people reading it.
That means we need to know if our proposal will be read by a Generation Y or a Baby Boomer. And it certainly means that when we meet the philanthropists in person we need to understand what levers to push and pull in order to appeal to their personal triggers.
I feel a blog coming on myself...
You're right of course Kevin that's the thesis that boomers, jonesers, x and ys are all hard wired differently. Just that being a boomer I am. of course, self obsessed! Go for it.
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