Los Angeles Social Venture Partners
Jen and I are founding partners in LASVP, a really great group of people that are leading the way for a concept called venture philanthropy. Simply put, rather than just writing a check to a charity and having little visibility into where your money goes, venture philanthropy entails taking a more active role – both in disbursing the money and in getting involved directly with the recipients. LASVP follows a model established in other cities – I think Seattle was the first, and there about 70 or so nationwide.
All of the partner units contribute a fixed annual amount to a 501c3 pool of dollars, and then have focused investment rounds where we solicit proposals in a specific area – in LA so far we have invested in Education and Environment. An investment committee goes through a pretty detailed process of weeding through the porposals and determining who to fund and at what level. After an investment has been made, the organization then works hand in hand to match the expertise of the partners with the human capital needs of the organization through the duration on the funding cycle. Partners help in areas such as talent acquisition, governance, real estate, etc. Its pretty cool. All of the time commitment aspects are voluntary, you can scale them to the cycles of your own life (ex. maybe the year you have a third child or join a start-up you can just write a check).
I’ve got two reasons for the blog post – first, if you live in LA and find yourself looking for a way to plug into the community and give back, please ping me to find out more about LASVP.
Second, I received an email this week where one of our partner organizations (Kipp Academy of Opportunity) is looking to fund a high school scholarship for one of its graduates to attend a great private high school in LA – Vistamar. Kipp is an AMAZING charter school in South Central LA – literally an island of opportunity in a pretty desolate place. Its only a few years old (founded in 2003) – I’ve spent a little bit of time there and its literally mind blowing what they are accomplishing for the kids of LA. Before Kipp opened its doors, its safe to say that ZERO, NONE, ZIP, ZILCH kids from that neighborhood would have ever been given an opportunity to attend a place like Vistamar. It would have been an absolute impossibility. You can’t get there from here. Now there are 3 kids who might make it in (and likely on to college after that), if they can find a few pesky $$$. Others have already come forward, they just need a bit more. Here’s more info. Let me know if you’re feeling personally flush for whatever reason and want to cut a seriously cool check(for all or part, its a lot of money) and I’ll put you in touch.
Posted: June 24th, 2008 under philanthropy.
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For the first time ever, I found myself hitting refresh on a liveblogging Jobsnote this morning. (