Resourcing Innovation. By Carlo Cuesta and Kevin Fox
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1 Resourcing Innovation By Carlo Cuesta and Kevin Fox
2 Campaign Feasibility and Management Resource Development Planning Business Planning Grants Development
3 Training & Education Strategic Planning Branding/Marketing Board Development
4 Carlo Cuesta Managing Partner Creation In Common Kevin Fox Chief Executive Officer Fox Advancement
5 Learning Objectives Integrate resource considerations into the program and service design process Identify and match to appropriate sources Develop a new kind of relationship with the donor
6 Today s Topics Innovator s Challenge The Co-Creation Process Identifying New Resource Opportunities (Public Benefit Corporations)
7 Innovation Defined Innovation in the nonprofit sector creates a new and novel approach to serving the community, transforms how the community is served in the future, and is recognized by other community leaders as something that is truly transformative.
8 The Challenge to Go Deeper
9 Innovation Barriers It s time for a reality check. I don t know who is going to support that.
10 A Different Approach Convenings and listening sessions Engaging stakeholders in design Engagement of potential supporters in the design process Developing the design with the supporter
11 Philanthropic Venture Capitalist Focused on long-term impact Demand measureable accountability Desire creative investment partnerships More than money their brain When you go out and ask for money, you get advice. When you ask for advice, you get money.
12 Case Example: TuitionMatchMN The perfect example of an innovative program Provides $$ to students for higher education For every $1 saved by students, they receive $3 in match Created in partnership with the Federal government, MnSCU colleges and donors
13 Co-Creation Process Creates the multi-year context Provides an exit strategy Invites funders to help create Builds the living case Aligns vision with impact
14 Was Created By the Partners Piloted at Inver Hills Community College Financial aid folks and foundation folks from five more colleges designed expansion Grant officer from Federal program reviewed plans and approved in concept Colleges meet regularly to review and revise plan
15 TuitionMatch is Multi-Year Five years to implement the program Gives colleges time to incorporate into fundraising efforts Gives donors chance to make significant positive impact Can apply for more funding along the way More colleges can join the program
16 The Case is Still Evolving Opportunity to continue to add new partners and apply for more funding TuitionMatch-MN is being presented to donors a variety of ways Local businesses are now supporting TuitionMatch-MN Donors are interested in investing alongside students own investments
17 New Resource Opportunities What is the value of the public benefit corporation? How does it change the conversation with donors? How does this approach align the case for support so that it resonates with corporations, foundations and individuals?
18 The Wild West
19 What is a Public Benefit Corporation? Allows entrepreneurs to create a for-profit entity that is socially-minded. Engages investors around ROI as well as making the world a better place. Provides for accountability for measurable impact goals and scalable, socially-minded business. Give non-profits entrepreneurs the opportunity to invade the for-profit space.
20 Public Benefit Corporations and the Philanthropic Community Interviews conducted by Minnesota Council on Foundations (Trista Harris) Pohlad (Brian Paulson) Bush Foundation (Jennifer Ford Reedy) Non-profit Assistance Fund (Kate Barr) Bremer Foundation (Brian Lipschultz) Social Impact Center (Terri Barreiro) Jeff Ochs
21 Profitability Public Benefit Corporations and the Philanthropic Community Idea Validate Develop Launch Growth Maturity Bootstrap Family and Friends Government Grants Foundations IMNPACT Angel Investors Crowd Funding Venture Capital IPO Valley of Death
22 Target Industries High Growth Opportunities Food and Agriculture Healthcare Climate Small Scale, Localized Opportunities Neighborhood Development Employment Services Non-Profit Spin-offs
23 Recap Integrate resource considerations into the program and service design process Identify and match to appropriate sources Develop a new kind of relationship with the donor
24 Thank You Please Contact Us with Questions:
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