Philanthropy and the trusted advisor
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Dexterity Ventures is a company that provides philanthropic advising and consulting services to help families create social impact through charitable giving. They are developing new technologies and platforms to make charitable donations more accessible and to positively influence over $1 billion in charitable transactions. Their services include family advising, software, and helping organizations measure their social return on investment. They provide resources to help clients harness new models of social enterprise, impact investing, and technology to advance philanthropy.
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Philanthropy and the trusted advisor
- 1. Pushing the Needle Working with families to create, generate & measure social impact Gena Rotstein, CEO & Advisor in Philanthropy grotstein@dexterityventures.com www.dexterityventures.com www.place2give.com
- 2. Agenda About Dexterity Ventures Inc. How the next generation defines social capital Non-traditional "philanthropy“ Information overload - technology and giving
- 3. We are harnessing the frontier of charity data ... To make charitable giving a part of every person’s banking experience, retain assets under management across generations and positively influence $1Billion in charitable transactions. Photo credit: Steve Jurvetson/Flickr
- 4. Company formed in 2002 20+ years of non-profit management experience in North America Peer recognition TEDxCalgary, AFP, CAGP, AiP, PPI presenter Publications in national magazines, newspapers and websites Media expert on social enterprise, social impact investing and social finance FEA
- 5. • Family advising and philanthropy consulting • Software as a Service • Percentage per transaction • Platform as a Service Business Model
- 6. Community Partners & Peer Recognition
- 7. What is Philanthropy? Love of mankind A financial transaction predicated by moral response to a social dilemma As a phenomenon, philanthropy is actively practiced throughout the world through voluntarily giving of time, talent and resources in support of the common good (Wagner et al, 2003, p 442)
- 8. Information Flow Donor Advisor Charity
- 9. Leaving a Legacy Leave enough for your children that they will do something, but not so much that they won’t do anything. - Warren Buffet “It’s not your pearls, it’s your pearls of wisdom.” - Karen Roth Warren Buffett, Melinda & Bill Gates
- 10. Activty #1 -Workbook Advisor Toolbox
- 11. The Next Generation & Giving Philanthropy 3.0
- 12. Social Investing Social Return on Investing Social Entrepreneurship Social Finance Social Capital Shared Value Collective Impact Social Innovation Social Good Patient Capital Co-Operatives Where Giving Meets Investing
- 13. Definitions Social Good: A good or service that benefits the largest number of people in the largest possible way. Source: www.globaltrends.com Social Innovation: A novel solution to a social problem that is more effective, efficient, sustainable, or just than existing solutions and for which the value created accrues primarily to society as a whole rather than private individuals. Source: www.ssireview.org
- 14. Definitions Social Return on Investment (SROI): A framework for measuring and accounting for the social, economic and environmental value that results from our activities, using monetary values to represent them. Source: www.thesroinetwork.org Social Investment: The term ‘social investment’ is often used to describe an investment in social or environmental outcomes combined with financial returns for the investor.
- 15. What is Strategic Philanthropy? The process of identifying what you want to see society look like, and using philanthropy as one of the tools for achieving that vision The Charitable/Philanthropic Plan is the coordinated steps in achieving the vision A more active role for the advisor in social asset management
- 16. Private Public Charitable And now there is the 4th leg – Social Enterprise: Using profit as a means to an, not the end itself.
- 17. Non-Traditional Philanthropy Social Impact Bonds, Community Impact Bonds, Co-Operatives, Patient Capital
- 18. For Profit Social Enterprise
- 19. Village Capital* Private equity placement in local social businesses Co-Ops Patient Capital B-Corps Community Economic Development/Social Biz Investments (BC, MB, NS) L3C’s (US)
- 20. Crowdfunding: Awesome Foundation The power of the crowd
- 21. Micro-Lending
- 22. Fast Pitch, PhilanthroPitch, ChangeTank, Hack-a-Thon #Hack4Good #DataForGood
- 23. What Role DoYou Play? Investment advisor Vetter of options Transactional Solution creator Asset manager Sponsor Participant Consumer Connector
- 24. Information Overload Philanthropy in a Digital Age
- 25. “Unlike in past eras, social sector organizations are now in direct control of a mass media communication medium, more powerful than any that proceeded it” - The Communications Network
- 27. What to look for? Program Implementation - Success rates Capacity to report on long term effectiveness What is success? Financial Management- Solution to Social Problem Fundraising Overhead Operational Effectiveness Competitive Analysis Leadership Qualifications History & Connectedness Board engagement Corporate Structure Strategic v. Operational Board Policies to protect donors and clients D&O Insurance
- 30. Activity #2 – Gut Check -8 -6 -4 -2 0 2 4 6 8 10 12 -10 -5 0 5 10 15 Impact Which organization would you invest in? Is it better to have low overhead? Why? When you invest in social issues, is it to solve a problem, generate a solution, or support a charity? Should the objective be to have a charity close?
- 31. The Business of Philanthropy Measuring Value Realizing Value Enhancing Value/Creating Value Generating Social Capital Social Return on Investment Audit Strategic Philanthropic Plan Howard Johnson – Corporate Valuation
- 32. Collective Impact Source: Collective Impact – Kramer, FSG Consulting
- 33. New Economic Models The Sharing Economy Latitude Research The Creative Economy Richard Florida New Wealth The Emergence Collective The App Store Economy Digital Buzz Blog Idea Economy iGenTribe.com
- 34. How we can help Resources to help you help your clients
- 35. Unique Funding Models ShareRESP Performance based investing Gender Identity Fund Site Visits Micro-Foundations (online) myPlace2Give Sponsor Energy Bond and loan
- 36. Benefits Retains assets under management (AUM) across generations Provides targeted marketing data Links CSR/Community Investment/Corporate Citizenship to a broader community Creates shared value Generates additional revenue through new product offerings Competitive advantage Opens new markets in “Snowbird” communities Opens new accounts for the Next Generation
- 37. Donor Bill of Rights Charter of Ethical Fundraising Philanthrocapitalism Giving 2.0 Giving Well The Art of Giving End of Fundraising Impact Assets Uncharitable The Creative Class The Blue Sweater Soul of a Citizen The HIP Investor Harvard Business Review, Stanford Social Innovation Review Blogs: DexterityConsulting.ca Philanthropy.com SocialFinance.ca Resources & Book List
- 38. Contact information Gena Rotstein, Chief Conversationalist 403-860-7572 grotstein@dexterityventures.com @Place2Give @DexterityCon www.place2give.com www.dexterityventurs.com
- 39. Online giving & ATM giving Integrating CSR directly to customer experience
Editor's Notes
- So in this new economy, who is influencing whom?
- Ethical Will – The way you conduct philanthropy is built upon values that were instilled in you by your family, your community, your daily interactions with society. Your will to facilitate social change is based upon your ethics, and how you model that is your legacy. What is your story? Who has influenced you?
- Society is a 3-legged stool. If one of the legs falls off then society crumbles. Private needs the public to grow their businesses; Private needs charitable to leverage their brand Public needs the charitable to provide safety nets; Public needs private to provide them with goods and services (fulfill wants and needs) Charitable needs both public and private to support their offerings NP Sector in Canada is the 2nd largest contributor to the national GDP (2004 study). It uses on average 2 Billion volunteer hours, which is equal to 1 Million FTE positions. You have to combine, retail, automotive and agriculture to exceed the size of our charitable sector. If you business isn’t already marketing itself to the charitable sector, it should. These organizations are businesses that can open up new markets for your company, provide you with R&D space (Food Bank example/Pharmacutical companies and universities), raise you brand awareness.
- Howard Johnson conducts corporate valuation studies. His model shows value on an upcurved ‘S’ where you measure your company’s value then you enhance to create more value and you realize that value when you sell your company or if you are start up engage a second round of investors… I am oversimplifying. The same curve can be applied to the financial values of philanthropy. First you look at where you are today with your company’s charitable giving, then you see how that aligns with your business objectives and create the plan to make sure that they align. Then you implement the plan and realize the impact on society that you have created, in essence, you have generated social capital out of your business.
- And there are models that are out there. Social Impact bonds in the UK or the Kickstarter model for seed investors in US based for profit businesses (not all are social enterprises), or what Oiko Credit is doing in the micro-lending space in international development.