Perhaps it had something to do with the SXSW Interactive conference last month, but March was all about using technology in interesting ways to further social change. From crowdfunding, to a new giving graph, to credit card donations to the homeless, to engaging people in the arts and beyond, people are experimenting with technology for social change in really exciting ways.
Below are my 10 favorite social innovation reads in March. But let me know in the comments what I missed. And if you want to see my expanded list, follow me on Twitter, Facebook, LinkedIn, Pinterest or ScoopIt.
You can see the 10 Great Reads lists from past months here.
- Crowdfunding is quickly becoming the hot new thing in the social change world. It remains to be seen if it is a game changer, but in the meantime take a look at some examples of how its being used here, here, and here. And while we’re talking about innovative use of technology to fundraise, Lucy Bernholz dissects some new efforts to donate to the homeless via a credit card.
- Writing on the ArtsFwd blog, Anna Prushinskaya describes how some innovative arts organizations have used social media to effectively engage audiences in new ways.
- I’m really excited about a new technology the Case Foundation is developing that will map your online search preferences to giving suggestions just like Google, Facebook and others currently use your search preferences to suggest products and services. (I’ll be interviewing the mastermind behind this, Will Grana, on the blog this summer).
- I love to see nonprofits using new media (like video and infographics) to tell their story. Beth Kanter offers some easy tips for creating infographics. And speaking of cool infographics, check out this one on why slacktivists are more active than you think.
- It seems “scale,” the social innovation buzzword of a few years back, is being redefined. Kathleen Enright, CEO of Grantmakers for Effective Organizations, describes a new report that expands the idea of scale and offers ways grantmakers can support it. And Ben Mangan, CEO of nonprofit EARN, spurs nonprofits and funders to move past “stifling incrementalism” and start working towards real scale.
- Dan Pallotta ruffled some feathers, as is his way, with his TED Talk this month The Way We Think About Charity is Dead Wrong, and there were several responses. But I thought the most thought-provoking was from a group of professors from Boston who suggest that Pallotta’s argument that nonprofit salaries are too low only reinforces the wealth inequality of the American economy.
- And on a related note, Dione Alexander, writing on the Mission and Money blog, explains increasing wealth inequality as a kind of bullying, noting “The social contract through which we assume shared responsibility for the community is broken.”
- And since we are on the topic, this video about wealth inequality in America blew my mind. If you want a quick and dirty view of where America’s money goes, take a look.
- As part of the ten year anniversary of the Stanford Social Innovation Review, Matthew Forti looks back at the past ten years of measuring nonprofit outcomes, the good, bad and the ugly.
- Writing in the Duke Chronicle, Trinity senior Elena Botella argues that deciding when a public service should be privatized should be based on evidence, as she says “Humans respond to a profit motive, but we also respond to altruism, community values, prestige and pride in our work.”
Photo Credit: mendhak
The gloves came off in February. There was enough criticism to go around from foundation decision making and use of evaluations, to Millennial social entrepreneurs, to American charity, to nonprofit versus for-profit, to the overwhelming politeness of the nonprofit sector, it seems everything was up for debate. But that’s okay with me — I think controversy can be an incredible aid for pushing thinking forward.
Below are my top 10 picks for what was worth reading in February in social innovation. But, as always, let me know in the comments what caught your eye over the past month. And if you want to see my expanded list, follow me on Twitter, Facebook, LinkedIn, Pinterest or ScoopIt.
You can see the 10 Great Reads lists from past months here.
- The Center for Effective Philanthropy released a report on nonprofit performance assessment that criticized funders for 1) not being willing to pay for evaluations and 2) being more interested in data that is helpful to the foundation, not the nonprofit. Beth Kanter chimes in with some tools for becoming a “data informed” nonprofit.
- While we’re on the topic of foundations, “transparency” is becoming a real buzzword for them lately, and Lucy Bernholz digs deeper into recent examples, while James Irvine Foundation president Jim Canales (who will be the subject of this blog’s March interview) practices some real transparency by reacting to recent controversy about the foundation’s new arts strategy.
- And what about the flood of Millennials wanting to be the next great social entrepreneur? Writing on the Harvard Business Review blog, Mike McGlade provides a cautionary (and potentially controversial) tale to Millennials seeking to become a social entrepreneur. As he says “Before you don the social entrepreneur title and dive into building your enterprise consider if you need more experience to realize your idea. If you do, set down your entrepreneur ego and find a job. You need to get smart to make a difference.”
- Does America, one of the most charitable countries, have a hard time accepting charity itself? The controversy surrounding a United Arab Emirates gift to Joplin, MO after it was devastated by a May 2011 tornado makes Jacqueline Pfeffer Merrill wonder if America is no longer the self-sufficient, munificent benefactor it once was.
- In the Chronicle of Philanthropy, Caroline Preston describes how politeness is holding the nonprofit sector back. (It reminds me of this blog post a couple of years back).
- The Dowser blog interviews Munro Richardson c0-founder of startup MyEDMatch, an innovative website that matches teachers with opportunities across the country, to address the problem of teacher turnover.
- In keeping with the growing drumbeat to connect the disparate nonprofit sector, Beth Simone Novack calls for digitizing nonprofit 990 data in order to “help the neediest among us access better services, nonprofit providers to become more effective and efficient, and everyone to understand the role of the nonprofit sector in our economy better.”
- The Nonprofit Finance Fund created a great graphic that demonstrates the core issues facing small nonprofits and what they and funders can do about them.
- Writing on the Idealistics blog, David Henderson suggests a process, based on how businesses maximize profits, for how nonprofits can use data to maximize outcomes.
- If you really want to change the world is it better to work in the nonprofit sector, or make money in the for-profit sector and give it away? William MacAskill and Brooke Allen provide a thought-provoking (and sometimes maddening) debate on the issue. MacAskill says don’t get a job at a nonprofit, and Brooke Allen argues Wall Street is not the answer.
Photo Credit: Tim Pierce
I was in Atlanta last week speaking at NeighborWorks America’s National Fundraising Symposium. I really love speaking to nonprofit staff and board members who are in the trenches trying to raise money for their organizations. The same thing that happened in Atlanta always happens. The group started out tired, uninspired, worn out with fundraising. But then I started to describe Financing and the light bulb went on. And for the rest of the day when I talked with attendees, or heard them talking to each other, they would try out this new word, this new concept, “Financing.”
But it’s not just semantics. Financing is a fundamentally different approach to every aspect of a nonprofit organization. For the group in Atlanta, I laid out the five main elements of it:
- Create A Financing Plan
Nonprofits must create a comprehensive strategy for bringing enough, and the right kind of, money in the door to achieve their strategic goals. This includes revenue and capital, programs and infrastructure dollars, and all funding sources. Money must be understood and used as a tool, instead of feared and sequestered.
- Connect Mission & Money
The financial woes of many nonprofit organizations often stem from a misalignment of mission and money. A nonprofit leader who creates a financial engine for her organization that is fully connected to and supportive of its mission (instead of detracting or isolated from it) will enjoy financial sustainability.
- Diversify Funding
Relying on only one or two funding sources, particularly foundation grants which make up less than 2% of all the money flowing to the nonprofit sector, is a dangerous strategy in the nonprofit sector. It is far better to create a robust and diverse money mix that fits well with your nonprofit’s mission and competencies.
- Invest Supporters
As mounting research demonstrates, donors are increasingly looking to become engaged in the nonprofits they support. And they are looking for impact, not just a place to write a check. In order to attract these donors, nonprofits must articulate their value and convince supporters to become a partner in creating social change.
- Find Money to Build
The time for scraping by and never having enough money for the right technology, staff, and systems is over. Instead nonprofits must become savvy about capacity capital and start raising the money they need to build the organization their mission requires.
It is so inspiring to see people who are on the front lines of creating stronger schools, neighborhoods, communities in this country suddenly realize that it doesn’t have to be so hard. You can stop beating your head against the fundraising wall.
Photo Credit: billaday
There’s a key practice in business marketing, creating buyer personas, that I think nonprofit fundraisers would be wise to adopt. It is a great fallacy of nonprofit fundraisers to think that anyone with money is a potential donor to their organization. Nothing could be further from the truth.
If you want to really succeed in bringing new donors in the door, you need to get smart and strategic about reaching the right target markets for your specific nonprofit, which is the topic of today’s post in the ongoing Financing Not Fundraising blog series.
Smart marketing is about reaching a specific target of people whose values intersect with your nonprofit’s unique ability to address a community need, like this:
This means that you don’t want to send your message out to everyone and anyone. Rather you want always to target a specific communication to those unique people for whom it would resonate.
In the business world, this is called creating “Buyer Personas.” And I think nonprofit fundraisers should develop “Donor Personas.”
Creating Donor Personas means organizing your donor base into groups of people based on demographics, interests, lifestyle choices, etc. Then you want to find out as much as you can about those groups in order to clone them.
So, for example, an animal shelter might have the following beginning list of Donor Personas:
- Animal Activist
These donors are 16-30 years old, highly motivated, interested in advocacy and changing laws and systems to make the world a safer place for animals.
- Pet Lover
These donors are 25-65 years old and have adopted a pet from the shelter in the past few years. They aren’t politically active, but rather are very grateful for the newest member of their family.
- Dog Devotee
These donors may have may or may not have adopted a pet from the shelter, but they are fierce dog lovers. They don’t understand cats and are not interested in them.
- Cat Fanatic
Again these donors may or may not have adopted a pet from the shelter, but they are obsessed with cats and their welfare.
So how do you go about developing your Donor Personas? Start with these four steps:
- Group Current Donors
Take a look at your current donor base. Can you place people into profile groups like I did with the animal shelter above? What do some of your donors have in common? Do patterns and groupings start to emerge around a combination of demographics, lifestyle choices and/or worldviews?
- Ask Questions
Select a handful of current donors in each donor persona group and give them a call or send them an email. Tell them that you simply want to understand their motivations for giving so that you can find more like-minded people. Ask them a handful of questions like “Why do you give to us?” “Where did you hear about us?” “What do you do in your free time?” “What’s the best way to communicate with you?” Anything that will help you understand better what motivates them to give, how they make decisions, where they hang out, etc.
- Create Profiles
Armed with a deeper understanding of what makes these different groups tick, flesh out your donor personas. Give each group a descriptive name, like “Pet Lovers” above, list their various characteristics (demographics, interests, anything you know about them). Then circulate these donor persona descriptions to your staff and board. You might even want to attach a fictional picture to each persona to make it more visually captivating.
- Market to the Personas
Now that you understand your donor groups better, create different content and opportunities that resonate with these different groups. For example, you might want to engage your “Animal Activists” via social media when the city council is threatening to pull some of your shelter funding, but you might ask “Pet Lovers” to virtually adopt shelter animals with a monthly contribution. Now that you know your Donor Personas better make sure you target all of your marketing and fundraising activities accordingly.
Stop telling your story to anyone and everyone. Start figuring out what motivates those who already love you and use that information to build an army of additional supporters.
If you want to learn more about finding individual donors, download the Creating a Major Donor Campaign step-by-step guide. And if you want to move your nonprofit from fundraising to financing, check out the e-books, guides and webinars that can get you started on the Financing Not Fundraising page.
Photo Credit: Camera John
A new report from the Dorothy A. Johnson Center for Philanthropy and 21/64 gives us the first real glimpse into the minds of the next generation of philanthropists, and it’s fascinating. These are not your father’s philanthropists. Millennial and GenX donors (wealthy individuals, or individuals who will inherit wealth, born between 1964-2000) will control more philanthropic dollars than any previous generation. And more importantly, they think about giving in very different ways than their parents or grandparents did. Which means nonprofits need to pay attention.
This next generation of philanthropists is so critical because it’s estimated that $41 trillion will transfer from the Baby Boom to these next generations in the next 40 years. And since much of this wealth could become philanthropic, some have predicted “a new golden age of philanthropy.”
But it’s not just the unprecedented wealth that makes this new generation of philanthropists so important, it’s the fact that they want to fundamentally change philanthropy. According to the report: “They want to make philanthropy more impactful, more hands on, more networked.”
The key findings from the report are that these NextGen donors are:
- Focused on Impact. “They see previous generations as more motivated by a desire for recognition or social requirements, while they see themselves as focused on impact, first and foremost.”
- Giving Based on Values. “They fund many of the same causes that their families support and even give locally, so long as that philanthropy fits with their personal values.”
- Looking to Be Engaged. “Giving without significant, hands-on engagement feels to them like a hollow investment with little assurance of impact.”
- Paving Their Own Way. “While they respect their families’ legacies and continue to give to similar causes and in similar ways as their families, they are also eager to revolutionize philanthropy.”
This report is further proof of the major trends changing the nonprofit and philanthropic sectors. Given where the sector is heading, there are three things nonprofit leaders should understand and embrace:
- Outcomes are here to stay. In order to compete for funding you must be able to prove the results of what you are doing, what change you are creating. NextGen donors are doing their homework and want to understand what impact their dollars will have. To stay relevant, you need to start by creating a theory of change and then figure out how you can being managing to outcomes.
- Giving has gone social. NextGen donors rely heavily on their social networks to make decisions, including their giving. And they offer their knowledge of worthy causes to their friends as well. So if you aren’t part of the social network you will be left behind. Start to open your organization to become a networked nonprofit and watch your support and influence grow.
- Donors are more than a checkbook. This next generation of donors doesn’t want to just write a check, have their name on a wall and be done with it. They want to really get to know the causes in which they invest. And the word “invest” is an apt one. These donors want to give money, time, mind-share, networks to things they believe in. And if you can employ that passion and investment effectively you will get so much more than just dollars. So figure out how to engage donors in much deeper, more meaningful ways.
This is a really exciting time for philanthropy and ultimately for the nonprofit sector it funds. But it’s up to nonprofit leaders to understand these fundamental shifts and adapt accordingly.
Photo Credit: www.nextgendonors.org
In this month’s Social Velocity blog interview, I’m talking with Mark Hecker, Executive Director of Reach Incorporated. Reach develops confident readers and capable leaders by training teens to teach elementary school students, creating academic benefit for both. Mark’s passion for those being failed by today’s educational structures led him to create Reach in 2009. By trusting learners with real responsibility for real outcomes, Mark believes that our young people can drive the change needed in today’s schools. He is the 2006 Washington, D.C. Social Worker of the Year and a 2011 Echoing Green Fellow and writes for the UnSectored blog.
You can read past interviews in the Social Innovation Interview Series here.
Nell: Reach Incorporated has a really innovative approach to literacy tutoring in that you use struggling adolescent readers to teach younger children how to read. Given the countless approaches to teaching literacy that have been around for decades why do you think that yours is the right approach and what results are you seeing so far?
Mark: Throughout time young people have been most successful in schools that connect student learning to the students’ experience of the world. As the contemporary education reform movement has created a growing disconnect between the learners and their lives, Reach represents a return to the most effective ingredients of successful education across the years: individualization, relevance, inspiration, and trust.
We know two things about reading. First, students only see improvement when they practice at, or just above, their current reading level. Second, as students age, motivation overtakes obedience as the driver of student engagement. In DC, 85% of public school students get to high school reading below grade level. In a world of specific standards and rigid learning objectives, there is simply no place in the high school curriculum for students to get the targeted literacy instruction they need to experience improvement. Today’s teens – because we have failed them – require the opportunity to experience dramatic academic improvement in an environment that is both empowering and engaging.
Beyond the mechanics of our model, a familiar adage from Ben Franklin captures it well: “Tell me and I forget. Teach me and I remember. Involve me and I learn.” We trust students to be significant participants in their own education. It’s the only way that real learning occurs.
Though still young, we have seen some promising early results. Our program is after-school, but our tutors have seen GPA improvement of up to 125%. Additionally, participating elementary school students have seen reading growth above that of non-participating peers. Finally, our tutors see significant reading growth, improved school engagement, increased rates of promotion, and exceptional school retention rates.
Nell: How have you gone about finding funders willing to invest in an innovative model like Reach? What is your approach to financing your organization?
Mark: When asked this question, I generally reply by smiling and saying, “I’m really charming.” That’s obviously not the truth.
I have an incredible passion for this work, and I get to share the stories of the amazing tutors and students impacted by the work we help them do. By telling the stories of our participants, we are able to inspire others to invest in the possibility that our participants present. Currently, approximately 50% of our funding comes from foundations. We also have an incredible army of 300-400 individual supporters that are committed to our young people; they provide about 35% of the organization’s funding. The remaining financial support comes from corporations and special events.
While the world of social innovation talks often of efficiency, outcomes, and scale, I’ve found that many are drawn to our work because of their strong belief in justice. DC students are not getting the education they deserve. Reach, with the help of our tutors, offers a multi-directional intervention that improves outcomes for all participants. Our supporters believe in possibility, and they are excited by the potential of our model.
As Reach’s Board of Directors and I look to the future, we know that financial sustainability must be a constant consideration. To build the foundation to support our eventual growth, our focus now is entirely on program quality. We understand that, for the immediate future, we will be entirely donor dependent. Proof of concept takes time.
By pursuing greatness, we believe that we will eventually have opportunities to create revenue through training, curriculum development, and maybe even children’s book sales. For now, we will build the program our kids deserve by finding supporters that believe in our path.
Nell: As a small nonprofit how do you manage increasing pressure to measure outcomes with a lack of available evaluation funding?
Mark: We’ve simply made an organizational commitment to evaluating our work. We do this knowing that our financial investment will not yield immediate returns as it takes time to develop organizationally appropriate metrics. So, to be brief, we simply look at evaluation as part of the cost of business. It’s overhead. It’s necessary.
That being said, it’s exceedingly frustrating that we have never once received funding to be used specifically for the purpose of evaluation.
For now, we respond to this tension by narrowing our focus on five specific metrics: progress toward grade-level reading, GPA growth, efficacy beliefs, promotion to the next grade, and school retention. While we don’t have the capacity to measure everything, we can measure these five indicators – and each has a strong correlation to our long-term goals: high school completion, college success, and stable employment.
To be frank, the recent focus on outcomes measurement leads many organizations to simply lie about what they know about their work. True evaluation takes time and money. To balance this tension, we narrow our focus and work within our means.
Nell: You were named an Echoing Green fellow in 2011. How has that experience been? What have you learned and how has it helped Reach so far?
Mark: Being part of the Echoing Green family has been one of the most powerful experiences of my life. While I could speak about it indefinitely, I’ll limit myself to highlighting three ways that the fellowship has supported my leadership and Reach’s work.
- When I speak to educators about my work, they generally start asking technical questions about curriculum and content. When speaking to other Echoing Green fellows, conversations happen outside this specific content. They know they’re not experts in literacy just like I know I’m no expert in Kenya’s sanitation infrastructure or Liberia’s health system. By skipping the surface level content, the conversations quickly go to a place of values, leadership, and strategy.
- Though this hasn’t always been the case, Echoing Green has recently made an effort to build up the strength of the alumni network. It has been particularly exciting to see how responsive Echoing Green alums have been. When I’ve reached out to leaders at some established and exceptional organizations, I’ve been shocked by the alacrity with which they respond. The level of support has been amazing and humbling.
- Lastly, the community is valuable simply in that it provides knowledge that we’re not alone in this work. Starting an organization has been the loneliest and most difficult experience of my life. Through Echoing Green’s network, I can now reach out to others experiencing similar challenges and know that they have an understanding of the difficulties I face on a regular basis. Because of Echoing Green, I no longer feel alone.
Nell: In a recent blog post on UnSectored you talked about the nonprofit trade-off between effectiveness and faster growth. What are your plans for Reach’s growth and how will you accomplish it?
Mark: Reach’s work is subtly revolutionary. When we say we believe all students have the ability to contribute to the learning of others, everyone agrees. When we ask that those students (our tutors) be trusted with real responsibility, adults get scared. To be sure, the most important thing we must do is to demonstrate that this work can be done. For that reason, we’re currently much more interested in being great than being big. That may mean staying small for a while; we’re okay with that.
To understand what growth can look like, one has to understand the context in DC. Approximately 4,000 students entered high school in DC this fall. Recent statistics would indicate that 3,400 of these students are reading below grade level and approximately 2,300 of them are more than two grades below level. Currently, we serve approximately 50 of these students (and they serve 50 elementary school students). We aim to make DC a better place; that significantly influences the way we think about growth. We have to think about the level of saturation needed to impact a city’s population.
We plan to grow 200-300% in the next three years. This goal, adopted during a recent strategic planning process, will drive our first stage of growth. Over the next three years, we’ll measure the efficacy of our intervention. This programmatic success will drive our future rate of expansion, with a specific focus on those schools with the largest populations of struggling readers. It’s at this second stage of growth, in years 4-10, that we would expect to explore partnerships with DC Public Schools, develop additional programs, and consider expansion beyond DC’s borders.
January was about looking ahead to 2013 and being prepared for the many changes to come. It was also about understanding and embracing new generations, thinking about risk differently, re-evaluating growth, and analyzing the unique and critical role of foundations.
Below are my top 10 picks for what was worth reading in January in social innovation. But please add to the list in the comments. And if you want to see more, follow me on Twitter, Facebook, LinkedIn, Pinterest or ScoopIt.
You can see the 10 Great Reads lists from past months here.
- The predictions about what 2013 will mean for social innovation continue this month. As part of their whole Outlook 2013 series, the Chronicle of Philanthropy provides 5 Ways Nonprofit Work Will Change in 2013 and 5 Nonprofit Innovators to Watch. And the Philanthrocapitalism blog makes 20 predictions for 2013 chief among them is the rise of the woman philanthrocapitalist. Writing in Forbes, Antoinne Machal-Cajigas tells us What’s Next in the World of Social Innovation?
- January saw the second inauguration of President Obama, and Mathew Forti and Colin Murphy argue that his re-election campaign offers nonprofits some ideas about how to measure performance.
- Phil Buchanan, head of the Center for Effective Philanthropy, likes to stir things up, and I love him for it. He argues that nonprofit dependency on philanthropic dollars is NOT a bad thing. And because there is no rest for the weary, later in the month he argues against “the stampede to embrace the idea that for-profits — or for-profit models — can more easily combat our toughest social problems.”
- Writing on the HBR blog, Kimberly Dasher Tripp reminds us that scaling social impact is not about growing organizations, it’s about growing solutions.
- And speaking of impact, if you haven’t started figuring out what results your nonprofit is achieving, you may want to start since it looks like your youngest donors are demanding it.
- Bradford K. Smith, president of the Foundation Center, wrote a moving post about the critical role foundations play in our society, “Free from the bottom-line pressure of markets, the partisanship of electoral politics, and the demands of fundraising — [foundations] can use their independence to do remarkable things, whether it’s taking on issues that no one wants to touch, sticking with an issue for decades if required, or keeping the rest of us from forgetting the millions of people who, through no fault of their own, continue to be harmed and/or excluded by war, economic injustice, disease, and discrimination.”
- Beth Kanter writes a great post about overcoming the risk-aversion of the nonprofit sector by taking “little bets.”
- As you plan your conference schedule for the year ahead, check out the William James Foundation’s comprehensive list of social entrepreneurship conferences.
- Social change can be exhausting, demoralizing work. Here’s how a New York City teacher, with arguably one of the hardest jobs in education, stays committed to social change.
- The millennial generation is no longer willing to separate work and life, so says Ryan Steinbach on the UnSectored blog. In fact, “millennials see their careers as not a part of their lives, but rather what they do with their lives – and life is so much more than making ends meet. It’s social, emotional, physical, and spiritual. It’s about pursuing your passions, building relationships, and giving back.”
Photo Credit: thatdisneylover
It seems that October had two primary themes: moving nonprofits to measure outcomes and the evolution of philanthropy. The drum beat that nonprofits must find a way to measure what change they are creating has been growing louder, and every nonprofit leader would be wise to listen and understand this new trend. But in order to get to a place where most or all nonprofits are measuring outcomes, philanthropists must start paying for measurement. It is interesting to watch this all evolve.
Below are my top 10 picks for what was worth reading in October in the world of social innovation. And as always, please add what I missed to the comments. And if you want to see an expanded list, follow me on Twitter, Facebook, LinkedIn, Pinterest or my newest social media network, ScoopIt.
You can see the 10 Great Reads lists from past months here.
- There were several great articles about the need for nonprofits to prove the change they are creating. Steve Boland at Nonprofits Assistance Fund kicked if off by encouraging nonprofits to compare their resources to the outcomes they achieve. The New Philanthropy Capital blog encouraged nonprofits to approach measurement with theory, courage and creativity. And on the Center for Effective Philanthropy’s blog, Lauren Gilbert provided a case study of BELL and how they measured outcomes.
- And then to the ultimate question, “Will funders pay for measurement?”. Beth Kanter asks the question What is the Funder’s Role in Supporting Good Measurement? and Mario Morino (author of Leap of Reason) weighs in. And Phil Buchanan, CEO of the Center for Effective Philanthropy, argues “Foundations must step up and support robust nonprofit performance management systems.” Oh yes, please.
- Writing in the New York Times Paul Sullivan explores how the advent of impact investing is pushing philanthropists to measure the impact of their dollars.
- Even though the premier social entrepreneurship conference, Social Capital Markets, was in September, there were two great round-up blog posts about how SoCap moved the conversation about investing in social entrepreneurship forward. First was Jeff Raderstrong’s argument that we need to beware of the hype around impact investing and focus on solutions to social problems. And Christine Egger wrote a fabulous post on the Idealist blog about new ways to think about, fund & inform social change.
- There were a couple of great posts about (the really sexy topic of) nonprofit budgeting. It may sound dry, but a nonprofit’s budget is an incredibly powerful tool for creating social change, so the more organizations that can harness that tool, the better. On the Nonprofit Finance Fund blog, Peter Kramer demonstrates how to connect your budget to your overall organization strategy. And Kate Barr argues that breakeven budgeting is the “biggest barrier to nonprofit financial health.” Amen to that!
- Two great pieces this month from Lucy Bernholz who always makes us think, especially about the future. First is her piece on libraries and the future and then her laundry list of things we can no longer assume about the world around us.
- I always love a well done infographic and PhilanTopic offers one with their Nonprofits’ Impact on the Economy.
- Writing on the Social Earth blog Ashok Kamal reminds us that the work of social change is an exhausting roller coaster and we all need some “inspiration capital” to keep us going.
- Nancy Lublin, CEO of DoSomething.org, describes that for the millennial generation, innovation is the status quo and they are “poised to bring the social and business worlds closer together – tying profit to social change, and strong local communities to a new global society.” Let’s hope!
- It looks like the old is becoming new again as cities revive the idea of public, inner city markets.
Photo Credit: x1klima
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