nonprofit growth capital
A little over a year ago I started introducing tools on the Social Velocity web site to help nonprofits, who might not be able to afford consulting services, grow their programs, create a financing strategy, revamp their board. I am blown away by how popular these tools have become.
I started Social Velocity almost four years ago because I saw a real hole in the nonprofit sector. Small and medium nonprofits working on social change lacked access to expertise and resources to strengthen and grow their solutions. The Teach for Americas of the world were building impressive organizations and replicating their solution far and wide. But they were doing so with the help of deep networks of experts and money. They were the lucky ones.
But there are equally impressive solutions housed in much smaller, less resourced nonprofit organizations that aren’t really seeing the light of day. Because these organizations don’t know how to put a growth plan together, figure out how to finance the impact they want to have, or create a compelling ask for money to build, their solutions are not reaching as far as they could.
Social Velocity exists to help those small and medium-size nonprofits who want to be entrepreneurial, grow their programs, get their board engaged and invested, raise money to build their organization, break out of the starvation cycle.
And there are some nonprofits that are so small or so new that they aren’t ready yet for a customized solution. So our tools are there to help them start creating momentum on their own.
Our Step-by-Step Guides help a nonprofit to:
- Create a theory of change, which is the fundamental backbone of any nonprofit effort to get more strategic and garner more external support.
- Develop a case for support, a clear, well-articulated, compelling argument for why a donor should give to your nonprofit.
- Craft a sustainable financing plan, that lays out how enough, sustainable money will flow through your doors to support your mission.
- Create a business plan for an earned income venture to result in new, unrestricted revenue for your nonprofit.
And the E-books we have developed describe:
- How to move from the exhausting hamster wheel of fundraising to a more strategic, sustainable effort to finance your nonprofit, and
- How to create a groundbreaking board of directors that can strengthen and grow your impact
And our Monthly Webinars describe how to find individual donors, evaluate earned income potential, create a message of impact, raise capacity capital and much more.
You can learn more about all of our tools here.
I’m committed to continuing to expand our inventory of tools so that more nonprofits can strengthen and grow their impact. So I’d love your ideas for other tools you would like to see.
Photo Credit: Andrew Morrell Photography
Today I guest blogged on the About.com Nonprofit Charitable Orgs blog, at the request of the blog’s author, Joanne Fritz. The topic is one that is near and dear to my heart, philanthropic equity. “Philanthropic equity” is just a fancy term for the kind of money the nonprofit sector so desperately needs and every nonprofit leader should understand. Below is an excerpt from the post, but you can read the whole post here:
There is a fairly new concept in the nonprofit world that has the power to completely transform the sector. “Philanthropic equity” (or “growth capital”) is just a fancy term for the money many nonprofit organizations desperately need.
Philanthropic equity is a one-time infusion of significant money that can be used to strengthen or grow a nonprofit organization. It can be money that grows a successful program to other clients, other cities, other regions. Or it can be money that strengthens the organization and makes it more sustainable.
But before you can understand philanthropic equity properly, you must understand a critical distinction about money. There are two kinds of money, revenue and capital…
You can read the entire post on the About.com Nonprofit Charitable Orgs blog here.
Photo Credit: Glyn Lowe Photos
In this month’s Social Velocity blog interview, we’re talking with Antony Bugg-Levine. Antony Bugg-Levine is the CEO of Nonprofit Finance Fund, a national nonprofit and financial intermediary dedicated to mobilizing and deploying capital effectively to build a just and vibrant society. In this role, Mr. Bugg-Levine oversees more than $225 million of capital under management and a national consulting practice, and works with a range of philanthropic, private sector and government partners to develop and implement innovative approaches to financing social change. He is the co-author of the newly released Impact Investing: Transforming How We Make Money While Making a Difference.
You can read past interviews in our Social Innovation Interview Series here.
Nell: You’ve recently taken over the helm of the Nonprofit Finance Fund, a pioneer in cutting-edge ideas for better capitalizing the nonprofit sector, like growth capital. What’s next for NFF? Where do you go from here?
Antony: I am humbled and excited to be given the responsibility to lead an organization with such a strong legacy and talented staff. After 31 years of working with nonprofits and funders, Nonprofit Finance Fund understands as well as anyone how we can best raise and use financial resources to create sustainable organizations that together weave the fabric of just and vibrant communities.
Honing and sharing these insights is more important than ever. As the economic crisis has turned into an intractable employment crisis, the communities we work with and the organizations that serve them are facing unprecedented challenges. Business as usual is no longer going to work. But business-as-unusual is increasingly exciting. The crisis has created new opportunities by shaking loose long-held barriers that kept the worlds of social change and business firmly apart.
NFF is well-poised to help ensure that these new opportunities bear fruit, by doing what we have always done–bringing a data-driven approach to identifying what works, and working deeply and closely with social change organizations while communicating effectively with capital providers. We will have more details on our specific strategic direction in early 2012 but are very excited about the possible directions we can take. In many ways, this is our time and we hope to be worthy of these opportunities.
Nell: You recently wrote a book with Jed Emerson about impact investing that charts the field and where it might be going. But the field of impact investing, especially in places like the Social Capital Markets Conference, seems to separate itself from philanthropy and the nonprofit sector. How can and should impact investing and philanthropy collide and what will make that happen?
Antony: Advocates of impact investing have done a great job in the last few years explaining how for-profit investment can be both a morally legitimate and economically effective tool to address intractable social and environmental challenges.
But many of these challenges have been intractable precisely because neither markets nor governments have figured out how to address them. So impact investors will have to collaborate with philanthropists, nonprofits and governments to create comprehensive solutions when no one piece can work alone. At NFF we are increasingly seeing the power and necessity of a “total capital” approach where, for instance, we provide impact investing capital in the form of loans, human capital in the form of (grant-funded) consulting support, and government assistance in the form of subsidy or loan guarantee. This is particularly important as the unemployment crisis places increased demands on already strained organizations. For example, to support a set of leading arts organizations, we secured a PRI from the Mellon Foundation that enabled us to provide loans alongside technical assistance to leading arts organizations. We are now developing a similar integrated approach to support social service agencies such as homeless shelters and soup kitchens.
Nell: The vast majority of money is still bifurcated with for-profit investing on one side and charitable donations on the other. What will it take to change that and get more capital to social change organizations?
Antony: When I began this work at the Rockefeller Foundation almost five years ago I thought we were in the deal-making and infrastructure building business: that a few compelling examples of how impact investing can work and the development of networks and measurement standards to facilitate collaboration would be enough to allow impact investing to take off. But now I realize how impact investing threatens deeply-held mindsets of a bifurcated worldview that insists the only way to solve social challenges is through charity and the only purpose of investing is to make money.
To overcome this belief will require more than analysis and anecdote. Instead we need to build new systems to support the new aspirations. We need:
- a regulatory and legal framework that recognizes and incentivizes the contributions impact investors can make;
- educational systems that train young professionals to adapt investment tools to social purpose;
- measurement systems that allow us to assess and compare the blended value investments generate;
- nonprofit and for-profit social enterprises equipped to navigate the increasingly complicated strategic options that impact investors present; and,
- a philanthropic system organized around the question “How can we deploy all our assets to address the social issues we care about?” rather than “How do we give well?”
Nell: What is your idealized financial future for the social change sector? What level and kind of change would you ultimately like to see?
Antony: I envision a day when we organize the social change sector around the problems we seek to solve rather than the tools we happen to hold. Instead of fetishizing the moral or practical supremacy of grant-making or investing, in this world we will recognize that each has a role to play, and they are often most powerful when taken together. Exciting examples are already taking hold. In California, the California Endowment organized a multi-sector coalition to put an end to the “food deserts” that left many poor communities without easy access to purchase healthy food. This collaboration resulted earlier this year in the launch of the FreshWorks Fund that has mobilized grant capital, bank capital, impact investing capital and intellectual capital to bring new grocers into underserved communities. At NFF, we are applying a similar approach in the ArtPlace initiative, which is using arts as an engine for economic development in the US. This initiative has mobilized substantial commitment from private foundations, the US government and commercial banks.
Nell: How much of a panacea for social problems is impact investing? Can double bottom-line investing truly revolutionize how money flows to solving problems? Will it overtake government and philanthropic investment in social problems? And should it?
Antony: Impact investing is not a panacea. We cannot create and sustain a just and vibrant society unless we recognize that many organizations generate social value that cannot be monetized, and instead must be supported through charity and government. But we also must not ignore the vast potential in the trillions of dollars of for-profit investment capital currently lying on the sidelines of the social change agenda.
The global capital markets hold tens of trillions of dollars. Unlocking just one percent for impact investment will bring multiples of the approximately $300 billion in total annual charitable giving in the US. So impact investing can create a huge difference in how quickly or comprehensively we can address those social challenges where lack of money is the main issue.
Impact investing can also be revolutionary by accelerating new discipline in how we identify, assess, and manage our social change agenda. At their best, investors bring a rigor and discipline in allocating scarce resources to their most productive use, where there is a market-based solution. Impact investing will help spur a movement to link social spending to outcomes that a set of organizations can achieve, rather than just the outputs any one organization can deliver. We need to be careful, however, to recognize exactly where these new approaches will work and where simplistic and reductionist thinking will divert resources away from worthy causes or leave behind worthy organizations.
Last May I launched a new ongoing blog series that profiles Social Velocity’s work with Charlotte Chamber Music, a small performing arts organization that has a big vision, but lacks the capital to get there. Charlotte Chamber Music enlisted Social Velocity’s help last Spring to create a strategic plan and a capacity capital pitch to raise the money to execute on their big plan. You can read the whole series here.
Capacity capital (or “philanthropic equity”) is the money so many nonprofits desperately need. Capacity capital is dramatically different from the day-to-day operating revenue for which nonprofits are always fundraising. Capacity capital doesn’t fund delivery of nonprofit services (beds for a homeless shelter, new productions in an opera house, books for an after-school program). Rather, capacity capital builds the organizational infrastructure of the nonprofit (technology, systems, administrative or fundraising staff, materials) that allows the organization to become more effective or grow. But you cannot simply go out and ask for capacity capital. First, you must develop a compelling, inspiring, actionable and measurable plan for what you would do with the capacity capital.
After several months of working with Charlotte Chamber Music we had a strategic plan that staff and board were excited about and invested in. But it’s not enough to have a great strategic direction and goals and objectives to get there. You have to make the plan operational. That means you have to tie the big plan to the day-to-day activity of the organization and the price tag need to get there.
The next step in the process was to develop:
- An annual operational plan built from the strategic plan, and
- A budget
To do this, Executive Director Elaine Spallone needed to create milestones for each year of the plan. She needed to articulate what had to be accomplished in each year of the plan. This allowed her to start to break the big 3-year plan into annual chunks. Once she was happy with those milestones, she created a laundry list of activities that had to be accomplished in the first year in order to hit the first milestone. Once she was happy with that comprehensive list of activities, she tied each activity to a deliverable, a deadline and a person responsible.
As Elaine said:
Creating the operational plan was intense in the time investment and level of detail required, but worth every minute spent in its creation. It is especially gratifying to check off items and see the progress made. To be fair, it can also be frustrating to realize what is not moving forward. But the good news there is that those issues are clear, and can be articulated, shared and modified.
At the same time, she needed to project revenue and expenses over the period of the strategic plan. It’s not enough to have big goals, you need to understand the price tag associated with those goals (expenses) and how the money (revenue) will flow into the organization to meet those expenses. So Elaine created a 3-year revenue and expense projection that was tied to the goals and objectives of the plan.
Once she had these two key pieces in place (annual operational plan and 3-year budget) she could begin to put some key monitoring pieces in place to ensure that the strategic plan was being executed on. These monitoring pieces are:
- Each monthly staff meeting is tied to the deliverables of the operational plan that are due that month
- Each monthly board meeting includes a dashboard report on the status of the goals of the plan
- At the end of each fiscal year, Elaine will create the next year’s annual operational plan tied to the strategic plan
- Annual employee evaluations will be tied to an employee’s performance on their part of the operational plan
- Each annual budget will be tied to the costs of the annual operational plan
So now that Charlotte Chamber Music had an inspiring, investable strategic plan and a budget and operational plan to ensure that the plan would actually come to fruition, they were ready to go out and raise the capacity capital they needed.
In the next post in this series, we’ll talk about how we created a capacity capital pitch and a strategy for going after prospective funders.
I’m delighted to announce that, by popular demand, we are releasing today the Financing Not Fundraising, 2011 e-book. This 27-page e-book is a compilation and expansion on the 11 blog posts from 2011 in the Social Velocity Financing Not Fundraising blog series.
In the midst of an incredibly challenging economic situation that is not getting better any time soon, the Financing Not Fundraising, 2011 e-book outlines a new vision for how the nonprofit sector gets funded. Fundraising in its current form just doesn’t work anymore. Indeed, traditional fundraising is holding the sector back by keeping nonprofits in the starvation cycle of trying to do more and more with less and less.
What the sector needs is a financing strategy not a fundraising strategy. Nonprofits have to break out of the narrow view that traditional FUNDRAISING (individual donor appeals, events, foundation grants) will completely fund all of their activities. Instead, nonprofits must work to create a broader approach to securing the overall FINANCING necessary to create social change.
This 27-page e-book is a compilation and expansion of the Social Velocity blog series Financing Not Fundraising from 2011. The blog series is ongoing, with new posts added throughout each year. We’ll begin adding new posts to the series in the new year, but in the meantime, this e-book captures and expands on the posts from 2011 in one place.
The 12 chapters of the Financing Not Fundraising, 2011 e-book are:
- What is Financing Not Fundraising?
- Create A Financial Strategy
- Align Money and Mission
- Find Individual Donors
- Develop a Message of Impact
- Raise Money for Building Capacity
- Explore New Types of Money
- Evaluate Earned Income
- Calculate Net Revenue
- Move From Push to Pull
- Stop Lying to Donors
- Getting Started
You can download the Financing Not Fundraising, 2011 e-book here.
If you want to learn more about how to apply the concepts of Financing Not Fundraising to your nonprofit, check out our Financing Not Fundraising Webinar Series
In this month’s Social Velocity blog interview, we’re talking with Carol Thompson Cole. Carol is President & CEO of Venture Philanthropy Partners (VPP), a philanthropic investment organization (co-founded by Mario Morino) that helps great leaders build strong, high-performing nonprofit institutions. She has over thirty years of management experience in the public, private, and nonprofit sectors. She served as Special Advisor to President Clinton on the District of Columbia and was the Vice President for Government and Environmental Affairs at RJR Nabisco.
You can read past interviews in our Social Innovation Interview Series here.
Nell: This year marks Venture Philanthropy Partners’ 10 year anniversary. And in fact, venture philanthropy itself is only a little bit older. How has the concept of venture philanthropy changed since it first came on the scene?
Carol: People began talking about “venture philanthropy” about 11-12 years ago. Back then, it meant many different things, depending on who was speaking. Today, it still means many different things, but those organizations that work within this philanthropic mindset, like Venture Philanthropy Partners, have learned some important lessons along the way and share some common characteristics like a focus on performance, long-term financial commitments, investing in capacity and building infrastructure, and bringing resources in addition to capital to the table, to name a few.
At VPP, we actually moved away from using the term “venture philanthropy” a number of years ago as we realized that our approach was not a strictly “venture” approach. We are much more about blending some of the ways private equity firms approach their financial investments with many of the lessons learned and techniques developed by philanthropists through the years. We usually call ourselves a “philanthropic investment organization,” and we work to maximize all available resources, including capital, time, the skills and experience of our team, and the power of our network, to improve the lives of low-income children and youth in the National Capital Region.
Venture philanthropy arose out of the tech boom in the late 1990s, when many young entrepreneurs making their fortunes online decided to shift their resources into philanthropy. They saw a real opportunity to apply their business and management knowledge to nonprofits to create real, sustainable change for our society. These entrepreneurs decided to take the principles of venture capital that helped them become successful and shift that over into philanthropy.
Of course, the main strategies of venture philanthropy have been used, in some form or another, by grantmakers long before the late 90s. Venture philanthropists focus on high-engagement approaches to their grants, work to build capacity of organizations to scale their programs, and seek measured and proven outcomes as a result of their investment. Above all else, venture philanthropists use high-engagement techniques to bring more than just money to their partnership with nonprofits. Different grantmakers have refined their own ways of implementing these strategies, but they remain at the core of venture philanthropy, even a decade later.
Nell: When venture philanthropy started in the late 1990s it was thought to be a true innovation that could transform the nonprofit and philanthropic sectors. Has it lived up to those original ideas?
Carol: Venture philanthropy is a true innovation, but the nonprofit and philanthropic sectors are large and complicated systems. Venture philanthropy is an effective tool that has helped us deliver strong results for the children and youth in the National Capital Region. VPP is focused on identifying outstanding nonprofit leaders with strong programs and bold ambitions to grow. We give them growth capital to build their infrastructure and scale their organizations through serving more children and youth, by increasing their outcomes and impact, or through influence – making systemic change that ultimately allows for many more lives to be changed. Our first fund has grown to serve an additional 16,000 youth.
Clearly, venture philanthropy has worked for us, but it is not the only answer for the nonprofit sector. It can be a useful tool to deliver results, but creating those results is more important than the way those results are created.
Nell: Venture philanthropy was in many ways the precursor to what has now become the social innovation movement. How do you think venture philanthropy fits into these new worlds of social investing, for-profit social entrepreneurship, and other areas where the public, private and nonprofit sectors are converging?
Carol: Again, venture philanthropy is a tool to be deployed in grantmaking. At VPP, we are focused on bringing a high-engagement model to our nonprofit partners and delivering results for the children and youth of the region. Social investing, social entrepreneurship, and other innovations coming out of the convergence of sectors are examples of similar tools to drive results. At the Harvard Social Enterprise Conference in March, where I spoke along side Paul Carttar of the Social Innovation Fund, there was a lot of discussion about what type of organizational structure is best to create social change and what type of funding an organization should seek out to achieve its mission. What became clear is that people need to focus on goals and strategy, not methods. Venture philanthropy complements programmatic sources of funding because it can help some organizations scale very effectively to help those who need it.
Nell: The federal government took a step into the world of social innovation last year with the Social Innovation Fund, which was based largely on the venture philanthropy model. What do you think of the SIF and how do you see government’s role (at both the local and federal levels) evolving from this?
Carol: VPP is a member of the inaugural portfolio of the Social Innovation Fund, and we are honored to be included among the other intermediary funders. We applied to SIF because the challenges in our community are too big and complex to be met by a single funder, a single nonprofit, or a single sector. What we need now is a “network” of nonprofits, funders, corporations, local governments, and the federal government working together to solve our most intractable problems.
SIF represents the first step towards that new form of collaboration. Speaking at the Harvard conference, Paul Carttar said that SIF was about much more than money, and it would be a success if the public-private partnership model was adopted by others across the country. In these lean times for funding, it is important that we work together to encourage social innovation where it is needed. SIF, as well as the other public-private innovations launched by the Obama administration, like Investing in Innovation and Race to the Top, are developments that should be encouraged. If we can continue to push local and federal government to take on this role as collaborator, we will be able to achieve much higher levels of impact in our communities.
Even the largest philanthropic investments are dwarfed by public funding and are often deeply effected by availability of public funding as well as how and when it is allocated. Not every partnership needs to be as formal as SIF, but I would urge all philanthropic and nonprofit organizations to look for ways to seek alignment with local, state, and federal government efforts.
Nell: What’s next for venture philanthropy? Where does it go from here? How do you continue to reinvigorate or adapt the model?
Carol: I strongly believe that SIF represents the next step for VPP, and for all of venture philanthropy. We feel our model of philanthropy works and our first investments were successful, but we also feel like there is potential to dramatically improve the lives of the most vulnerable children and youth in our regions through intense and intentional collaboration. Because of this, we applied to SIF.
Our SIF initiative, youthCONNECT, represents the next phase of our work. Instead of single investments, we are investing in a network of high-performing nonprofits that provide a number of different services to young people from low-income families to help them thrive in adulthood. All the nonprofits in the network share the goal of bringing education, job training, and social services to at least 20,000 low-income youth, ages 14-24, in our region over 5 years. As we demonstrate success, this approach can be replicated or adapted by others around the region and the country. We will still make high-impact, long-term investments in single organizations, but we are exploring the transformative power of a network approach.
It is too early to tell the effectiveness of youthCONNECT and SIF, but I think these developments are pushing us into the next generation of high-engagement philanthropy. At VPP, we are committed to evaluation, sharing, and transparency so we can learn from each other as we work in these unexplored areas.
Nell: One of the criticisms of venture philanthropy is that it is only accessible to the largest and most successful of nonprofits. Do you see smaller nonprofits being able to access the ideas of growth capital? And if so, how will this evolve?
Carol: VPP focuses on organizations with strong leaders that deliver results. We have historically focused on organizations with budgets of $3-$50 million, but in our youthCONNECT initiative we have invested in organizations that fall below that monetary requirement but still have a proven track record in the area. Investing in smaller organizations is a different approach than some venture philanthropists have used, but these smaller nonprofits should have opportunities to access growth capital. What is most important to VPP is that an organization, regardless of size, can deliver lasting and meaningful results for children and youth in our region. Change in the lives of those who need it most will always remain our priority.
In May I launched a new ongoing blog series that profiles Social Velocity’s work with Charlotte Chamber Music, a small performing arts organization that has a big vision, but lacks the capital to get there. Charlotte Chamber Music enlisted Social Velocity’s help last Spring to create a strategic plan and a capacity capital pitch to raise the money to execute on that plan. You can read the first post in this series that details what gave Charlotte Chamber Music the desire to raise capacity capital.
Today I describe how we developed a strategic plan for Charlotte Chamber Music, which is the very necessary first step in raising capacity capital.
But first, let’s review. Capacity capital (or “philanthropic equity”) is the money so many nonprofits desperately need. Capacity capital is dramatically different from the day-to-day operating revenue that nonprofits are always fundraising for. Capacity capital doesn’t fund delivery of nonprofit services (beds for a homeless shelter, new productions in an opera house, books for an after-school program). Rather, capacity capital builds the organizational infrastructure of the nonprofit (technology, system, administrative or fundraising staff, materials) that allows the organization to become more effective or grow. The vast majority of nonprofit organizations don’t have access to this kind of money because:
- Funders are hesitant to fund “overhead,” and
- Nonprofits don’t know how to make the case for why this kind of money is so critical to their ability to deliver impact.
But you cannot simply go out and ask for capacity capital. First, you must develop a compelling, inspiring, actionable and measurable plan for what you would do with the capacity capital. And this is where we started with Charlotte Chamber Music.
Over a period of almost 6 months, Elaine Spallone, the Charlotte Chamber Music Executive Director, and I went through the strategic planning process:
Analyze the Internal Situation: We developed SWOT (Strengths, Weaknesses, Opportunities, Threats) and core competency analyses. We also created an organization logic model, which helps the organization articulate how they take community resources ($, people, artists) and turn them into social change. Then Elaine took those 3 elements and “shopped them around” to board members, funders, staff, and other constituents to refine what we had developed.
Analyze the External Environment: Elaine and her board and staff then researched their competitors (those providing similar services in the community) and consumers (funders and clients) in order to understand trends, how their core competencies related to community needs, and the competing forces working to address those needs.
Refine Vision and Mission: Several month prior to working with Social Velocity CM had created a new vision and mission statements. But they were very internally focused. Now, with all of the above data, analysis and feedback in hand, Elaine, her staff and board reviewed their current vision and mission and refined them to better reflect their new understanding of the value CCM brings the Charlotte community. As Elaine observed:
Working with Nell on the mission and vision was critical. We as an organization had in fact addressed them several months earlier and created something we felt good about. But Nell helped us understand that we created something that talked about us as an organization, and not about the way we were going to change our community. It is a critical distinction. It made all the difference and paved the way for our “aha” moment.
So, their new and improved vision and mission statements became:
- New Vision: Charlotte becomes the cultural center of the Southeast through the vibrant engagement of its citizens, connected to their humanity, history and each other.
- New Mission: To stimulate, animate and connect Carolinians to each other and their region through the presentation of curated chamber music performances.
Develop Goals and Objectives: With their new vision and mission statements as the guiding elements and filters of the strategic plan, CCM developed a strategic direction. What was really interesting about defining their strategic direction is that the final direction was much different than what they had thought it would be. Before our strategic planning process started, Elaine and her board thought their ultimate goal was “to become a top tier arts organization,” in essence to mirror the largest, most successful, most well-funded performing arts organizations in the city.
However, what they realized in a key “a-ha” moment was that that direction didn’t fit with their core competencies or their place in the external environment. There are countless arts organizations vying to be “top tier.” But CCM’s strength is it’s scrappiness–it’s ability to easily adapt to the changing environment and experiment because they don’t have an expensive staff or infrastructure that needs to be slowly moved. Thus, CCM came up with this strategic direction:
By 2020, through an expansion of venues and channels, Charlotte Chamber Music becomes a new model for engaging people in broader and deeper ways with the cultural arts community
CCM made a very strategic decision: they want to be a new, innovative model that connects people in their community through the cultural arts. They want to draw on their assets of ingenuity, flexibility, innovation and the inherent qualities in chamber music that are so good at connecting people to each other in its intimacy, engagement and accessibility. With their new strategic direction in place, they developed 5 broad goals, and the objectives to get to each of them, for the next 3 years.
With this exciting new strategic plan in hand, Elaine remarked:
A year ago, before we met Social Velocity, we held an informal board and staff retreat. At one point, the board chair called on each board member to share what they felt was the most critical issue we faced as an organization. Overwhelmingly the response was: “What are the measurements for our mission and vision, what are the goals?” and “No clear understanding of where we are going”. I am excited a year later to know all these questions have been answered, and we have a completely new
trajectory in which we have set ourselves upon!
CCM’s new strategic plan has begun to dramatically shift the culture of the organization. CCM now has an exciting, compelling long-term vision (and a detailed plan to execute toward that vision) that is getting staff, board and funders excited for the future.
In the next post in this series, we’ll talk about how we created the day-to-day operational plan to execute on this strategic direction, the 3-year budget to get there, and a system for monitoring the plan going forward.
Photo Credit: laura padgett
I’ve written before that with the excitement around the social entrepreneurship movement there is a danger that we are abandoning the nonprofit sector. Indeed, there is sometimes a tendency to dismiss the sector that was working on social change long before it was “cool”. Often the older nonprofit sector is left behind, partly because the sector tends to be risk- and change-averse. Again and again, I’ve heard that innovation will never become part of the nonprofit system — that nonprofits are too set in their ways. Or that the sector is too broken to emerge anew.
That attitude, though, is unacceptable. The nonprofit sector is an enormous part of our economy and has a long history of working towards social change. If we were to cast it aside completely, we’d lose the tremendous resources (money, people, mind-share) that are being invested in that sector every day. The nonprofit sector has tremendous potential for innovation. Indeed, without innovation in the nonprofit sector, the broader movement to solve social problems is doomed.
So instead of tossing it aside, let’s remake it, re-envision, restructure and reinvent it.
To that end, the Social Velocity on demand webinar titled “What Nonprofits Can Learn From Social Entrepreneurs” will help nonprofit leaders understand the new models, funding approaches, messaging, systems that social entrepreneurs are employing to create social change. If nonprofit leaders can understand this new movement and integrate some of the ideas into their work, they can achieve more social change.
This webinar will help nonprofit leaders understand the social entrepreneurship movement and the innovative people, organizations and funding vehicles that are solving social problems in new, exciting ways. It will help nonprofit leaders understand what they can do to keep up, and how to make their own organizations more innovative, attract new kinds of funding, and achieve their social change goals more effectively.
The webinar includes:
- Case studies of nonprofit and for-profit social entrepreneurs
- Examples of philanthropists and social investors who are funding social change in new ways
- How social entrepreneurs are becoming more effective at making a case for support
- What the social capital market is and how it’s evolving
- What new foundation funding vehicles like “mission-related” and “program-related” invesments are
- What “venture philanthropy,” “philanthropic equity,” and “growth capital” are and how to organizations are using them to grow their organizations
- New models nonprofit growth
- New legal structures for social change organizations
- Inspiration for taking your organization to the next level
What Nonprofits Can Learn From Social Entrepreneurs
On Demand Webinar
Photo Credit: katrinalopez