Venture capitalism meaning11/18/2023 The biggest risk with the gift of charity, though, is you make a gift to a social entrepreneur or not-for-profit that doesn’t have the impact that you expected. I think it takes a different piece of that pie for each of us, just like a balanced investment portfolio. In terms of where venture philanthropy fits in the landscape. So the term ‘venture’ in this context really refers to charitable giving as an investment, where the primary performance metric is the impact of the beneficiaries you’re giving will have. As a venture philanthropist, you are selecting not-for-profit organizations with similar rigor, the impact, or potential impact that an organization has as a metric of its performance. As an investor, you may seek out securities or companies that you deem good opportunities based on their performance, their social responsibility approach, or your own values and risk appetite. Venture philanthropy is the practice of defining your philanthropic asset, that is what you give to charity as an investment. Julia, to kick us off, can you share with our listeners a simple definition of what’s meant by venture philanthropy and your sense of how venture philanthropy fits in the broader philanthropic ecosystem? Jim is an adjunct lecturer in public policy at the Harvard Kennedy School and a senior research fellow at the Hauser Institute for Civil Society at the Center for Public Leadership at Harvard University. Jim is a nationally recognized lecturer, panelist, and speaker on subjects of non-profit organizations, social enterprise, capitalization, and the institutional role of philanthropy in solving complex societal issues. Jim Bildner is CEO of Draper Richards Kaplan Foundation, a global venture philanthropy firm supporting early stage, high-impact social enterprises. To begin to explore this subject, we’re joined today by two speakers who possess a wealth of experience in the fields of philanthropy and investing. But how does venture philanthropy work and how does it relate to traditional forms of grant-making? And short of starting their own foundation, how can donors take a venture philanthropy approach? Today, the idea of venture philanthropy has become more widespread. Philanthropy and private equity used to be very distant worlds. At the same time, ideas like shared value, the notion of businesses favoring social good over a pure economic gain, or impact-investing have become more common, due in part to declining funding from traditional sources, including federal funding, and donors’ growing demand for more impact from their charitable dollars. Over the past decade or so, we’ve seen significant shifts in philanthropy’s approach to addressing some of society’s biggest problems and the growing popularity of market-based or market-inspired solutions to these challenges. In this series, we hope to create a collaborative space for leading voices from across the philanthropic ecosystem to engage in both aspirational and practical conversations around relevant topics at the heart of achieving more effective philanthropy. I’m your host, Michael Gordon Voss, publisher of SSIR. Welcome to Giving with Impact, an original podcast series from Stanford Social Innovation Review, developed with the support of Schwab Charitable. The full transcript of the episode can be read below. To explore the trends and what they mean for giving, SSIR's publisher Michael Voss speaks with Jim Bildner, CEO of Draper Richards Kaplan Foundation, and Julia Reed, managing director of relationship management with Schwab Charitable. It has become increasingly popular as businesses show more concern for social good, traditional funding sources have shrunk, and donors demand more impact from their giving. Donors practicing venture philanthropy see their gifts as investments and draw on the analytical rigor of the for-profit world to assess the nonprofit organizations they support.
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