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The mission of the Your Mark on the World Center is to solve the world's biggest problems before 2045 by identifying and championing the work of experts who have created credible plans and programs to end them once and for all.

Crowdfunding for Social Good
Devin D. Thorpe
Devin Thorpe

Monthly Archives: March 2017

CEA Targets $800M of Solar Investment With New Partners

Clean Energy Advisors is a sponsor of the Your Mark on the World Center.


Clean Energy Advisors announced a major new financing that will take the firm from having invested about $140 million in solar energy projects to about $800 million. CEA President Scott Hill also notes that building on this success, the firm will establish a foundation to fund more charitable initiatives. (Watch or listen to my discussion with Scott using the players above.)Scott explains that the unnamed financing partners, two “multinational families,” have committed about $350 million. Combined with additional debt financing, the firm anticipates reaching $800 million in financed projects, “completing the pipeline of projects in North Carolina.” He anticipates that deploying the capital will take 18 to 24 months.

Scott explains that the unnamed financing partners, two “multinational families,” have committed about $350 million. Combined with additional debt financing, the firm anticipates reaching $800 million in financed projects, “completing the pipeline of projects in North Carolina.” He anticipates that deploying the capital will take 18 to 24 months.

He notes that the cost of installation for small utility scale projects is about $1.50 or $1.60 per watt, yielding a cost of about $1.5 million per megawatt. The new financing should allow CEA to install another 400 MW in North Carolina. He also notes that the scale they are achieving should allow the firm to look beyond their traditional structure where Duke Energy is the primary “off-taker” or buyer of the energy from the projects financed.

The new scale also creates an opportunity for CEO to increase its philanthropic efforts. Scott says the firm has started the process of creating a foundation that will fund charitable work. Last year, the firm backed nonprofits Reverb and Headcount to build support for environmental causes at 25 concerts across the country. Scott says they’ll be doing that again. “People who attend concerts have a natural affinity for nonprofits.”

Scott also hopes that the firm can use the foundation to fund solar projects in the developing world like putting solar panels on schools that don’t have access to the grid. He says the firm will donate its time to manage projects that the foundation funds and hopes donors will help them make a big impact.

The acceleration of the solar industry is creating a bright future for the world, both in the developing world and here in the developed world.

Scott Hill, courtesy of Clean Energy Advisors

Scott Hill, courtesy of Clean Energy Advisors

More about Clean Energy Advisors:

Twitter: @cleanenergyadv

Clean Energy Advisors (CEA) creates ownership opportunities for investors in utility scale solar energy projects that generate tax-advantaged predictable income, preserve capital, and have positive social and environmental impact.

Scott’s bio:

Twitter: @williamandhill

Scott Hill has over twenty years of entrepreneurial experience including a significant perspective on business start-ups and building successful small businesses. Mr. Hill has been with CEA since April 2014.

His duties include overseeing the firms family office, endowment, foundation, and UHNW client strategies. He has served as a panelist at US based family office conferences and enjoys speaking on impact investing, renewable energy opportunities, and the future of Solar PV worldwide.

Scott is a 1991 graduate of Columbia University and four year member of the football program. He lives near Nashville, TN with his wife and children. He’s also actively involved in his community and church.

Never miss another interview! Join Devin here!

Devin is a journalist, author and corporate social responsibility speaker who calls himself a champion of social good. With a goal to help solve some of the world’s biggest problems by 2045, he focuses on telling the stories of those who are leading the way! Learn more at DevinThorpe.com!

RecycleForce: Helping to Reclaim the Value in Electronics and Individual Lives

This is a guest post from Dawn Grimes, Vice President Business & Enterprise Development at RecycleForce

RecycleForce is an Indianapolis based social enterprise – a business with a social mission – offering comprehensive and innovative electronic recycling services while providing life-changing workforce training to formerly incarcerated individuals. Delivering assured destruction and certified recycling, RecycleForce manually de-manufactures, mechanically shreds and separates corporate retiring IT, throw-away consumer electronics, and large scale retail recall and overstock products. Sub-materials are sent to refiners for reclamation and recycling helping RecycleForce to achieve a high – often 100% – recycle rate on e-waste. The metals, plastic and other reusable materials that are sold to refiners help pay for job training programs and employment opportunities for formerly incarcerated men and women, supporting their re-entry back into society.

RecycleForce has experienced tremendous growth not only in recycling and destruction services, but also in job training. In 2006, RecycleForce had two workers who processed 600,000 pounds of material. Today, more than 75 employees process in excess of 11 million pounds of material annually, while getting training and learning skills that transfer to work in environmental services, warehouse operations, logistics and other industries.

Formerly incarcerated individuals face a difficult path upon release. They often leave prison in debt for costs associated with incarceration and/or child support arrearage. Most have no job prospects and few opportunities to earn wages to live, let alone pay user fees for correctional oversight, mandated drug and alcohol testing and counseling/treatment services, or other release mandates. Many also are without family supports and things many of us take for granted, like a place to live, work clothes, and a valid driver’s license. Without these foundational elements, the rate of return to the criminal justice system is incredibly high. Historically, about half of those released to Indianapolis/Marion County from prison return to prison within three years, the majority on a technical rules violation, often involving unpaid fees or restitution.

I have had the incredible opportunity of seeing RecycleForce graduates use what they learned to not only avoid returning to prison, but to thrive and prosper in full-time jobs. RecycleForce graduate, Chris Holt, is one such graduate with a truly remarkable success story.

Coming to RecycleForce in 2013, Chris quickly realized he had an opportunity to develop skills that would enable him to earn a living, and he learned that through building good credit, he could establish himself in a business. He saved for a truck and, in true entrepreneurial fashion, began networking to provide snow removal, lawn care, recycling pick up service and related work around the community. Many of his referrals came from RecycleForce. Today Chris has a 5,000 square foot commercial building which also houses a nonprofit he founded that provides an entrepreneurship program for youth.

RecycleForce serves 300 or more individuals annually, with more than 60% of them being placed in full-time employment, and the longitudinal return to prison rate at RecycleForce is about a third of the national average. Chris is just one example of how RecycleForce’s transitional jobs program changes lives.

Dawn Grimes

About Dawn Grimes:

Dawn Grimes is Vice President Business & Enterprise Development at RecycleForce.

Are You Crazy Enough to Change the World?

People ask me all the time what I do.

I’ll never forget a conversation I had with my father in 1982. I told him I had decided to become an author. He responded, “You can’t do that. That’s not a job.” At the time, I wasn’t confident enough to say, “But bookstores are full of books written by people we call authors. That really looks like a job.”

For better or worse, I accepted his advice and went on to become a successful finance guy, running my own SEC- and FINRA-registered investment bank and later becoming the CFO of a global food and beverage company that became the third largest company on the 2009 Inc. 500 list.

When I got fired from that job, I launched my new career as an author, a journalist and a speaker. I call myself a champion of social good. I write and speak about people who are changing the world for good.

BATH, UK – OCTOBER 06, 2011: Close-up of an Apple iMac computer displaying the www.apple.com front page tribute to former chief executive Steve Jobs, who died on 5th October 2011 aged 56

I’ve learned one thing. Steve Jobs was right. He famously shared the following in an advertisement:

Here’s to the crazy ones. The misfits. The rebels. The trouble-makers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules, and they have no respect for the status-quo. You can quote them, disagree with them, glorify, or vilify them. But the only thing you can’t do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.

On my show, I’ve spoken to more than 800 people who are changing the world. Most of them are not changing the world in the way Steve Jobs did. With apologies to him, they are changing the world in more meaningful ways. Ending climate change. Eliminating extreme poverty. Eradicating disease. And they all have one thing in common. They are crazy enough to believe that what they do matters. They believe that the world will bend to their will. They believe they can change the world. And they have.

How crazy are you?

I’m Not Mindful Because I’m Not a Narcissist

How many times per day do you hear “be mindful” or “be present”?

Frankly, as a social entrepreneur, I’m sick and tired of it. Here’s why.

Yes, there are demonstrable health benefits to being present in the moment, especially for good moments. And frankly, for most of us with time to read an article of this sort, most moments are pretty good. Enjoying them more makes us all healthier and happier.

But I’m not very good at that.

Right now, in Somalia 6.5 million people are at risk of starving to death, largely as a result of climate change. The entire country is experiencing extreme drought and children—the most vulnerable to famine—are beginning to die. More than 100 people died in two days from starvation-related causes. (The British Red Cross is on the scene working to alleviate suffering and prevent massive death—donate here.)

About six million women and children will die this year from the smoke of cooking fires inside their homes. That is about 11 people every minute. For some reason, I don’t feel the need to be present while I warm up my left overs in the microwave. (Learn more about clean cookstoves from the Global Alliance for Clean Cookstoves).

When I’m out for my run in the morning, I can’t focus on my stride length, cadence or breathing because right here at home in the United States, 28.5 million people lack health insurance and another 14 million are threatened with losing theirs if Trumpcare is adopted. A study published by the Harvard Gazette reported that as of 2009, 45,000 people in the United States die from a lack of health insurance every year. While that number likely dropped in recent years due to the Affordable Care Act, the numbers could quickly spike again. (Write your congressional representatives to encourage them to expand coverage under the ACA rather than shrinking it.)

Not everything that distracts me is terrible. The number of polio cases is the world has dropped by 99.99 percent since the mid-1980s when there were almost 400,000 cases every year. Last year there were 37. This year could be the last year that anyone on the planet gets polio. Yes, I’ve said that for the past three years. No, I’m not giving up hope that this year will be the one. (Donate to Rotary’s “End Polio” efforts here.)

Two drops of oral polio vaccine cost about 60 cents and can protect a child against the disease. Devin Thorpe administers the drops.

Two drops of oral polio vaccine cost about 60 cents and can protect a child against the disease. Devin Thorpe administers the drops.

And let’s be clear, when I’m walking the streets of Salt Lake City thinking about my next article, my strategy for increasing my impact or reducing my carbon output, I’m not present. I’m not thinking about my feet in my shoes, the wind on my face or the beauty around me. I’ve seen it before. Hundreds of times over more decades than I care to count. Frankly, I’m thinking and worrying about something much more important than how much I’m enjoying my day.

Years ago, I learned that taking a few deep breaths when I’m stressed can have a big impact on my stress and my health. I do employ that technique consciously on most days because something gets me worked up. I’m ashamed that the things that really get me worked up are stupid, first-world sorts of problems. I should be getting more worked up about people starving in Somalia for starters.

You are probably more like me than you think. Perhaps you don’t worry or think about any of the things I’ve listed above. Maybe you are more focused on caring for your aging parents, or for your own young children, or keeping the job you absolutely need to keep your family fed and sheltered. Being mindful is a luxury for the wealthy and the world would be better off if they weren’t so mindful.

Someone is sure to point out that being truly mindful means contemplating the very things I’m talking about. Wonderful! Let’s all be mindful in that sense. But let’s not pretend we can be present in the moment appreciating the world around us and simultaneously be aware of others removed from us by great distances or dire circumstances. To be mindful of others is anathema to a focus on oneself.

Life is not supposed to be one continuous amusement. Your life has meaning, purpose and real joy when your attention is focused more on the wellbeing of others.

So, the next time you start to feel a bit guilty because you are not “present” or “mindful” enough, just say to yourself, “I’m not mindful because I’m not a narcissist.”

Research Center Works To Prove And Improve Impact Of Social Entrepreneurs

This post was originally produced for Forbes.

You can download an audio podcast here or subscribe via iTunes.

The Abdul Latif Jameel Poverty Action Lab, commonly referred to as J-PAL, is based at MIT and seeks to reduce poverty by providing academic research on interventions by social entrepreneurs and others working in the space.

Quentin Palfrey, the executive director of J-PAL North America, worked for the Obama Administration before taking on the role at J-PAL. He notes that the center receives its funding from MIT and other philanthropic donors. The center has a staff of more than 30 full-time employees. He says, “J-PAL North America does not charge for services or generate sales revenue.”

J-PAL works on global poverty. J-PAL North America focuses on poverty in the United States.

A lawyer by training, Palfrey thinks about the work in terms of policy implications. The lessons from J-PAL may be more relevant to social entrepreneurs who may be betting more than some public funding on their ventures.

Quentin Palfrey, courtesy of J-PAL

“From low-income, first-time mothers in South Carolina; to teenagers living and attending school in the most dangerous neighborhoods of Chicago; to inmates struggling with substance use disorders in Kentucky, millions of people across the United States live in poverty and face incredible social challenges as a result,” Palfrey says.

The political climate demands evidence-based approaches to social problems, he says. “Increasingly, policymakers at the federal, state, and local levels are turning to rigorous evidence on what works and why to create policies designed to combat poverty, improve schools, promote health, and address other social issues.”

J-PAL’s primary tool is the randomized control trial or RCT, Palfrey says. “We catalyze and support randomized evaluations, communicate evidence to help translate research into action, and help policymakers build capacity to create and use rigorous evidence.”

Melissa Kearney, Professor of Economics at the University of Maryland and co-chair of the J-PAL State and Local Innovation Initiative, says that the goal is to understand how and why certain interventions are effective. “J-PAL is committed to replication, meaning if a research project demonstrates effectiveness of a particular intervention in one setting, that intervention should be implemented either the same way or with potential tweaks in another setting or with another population,” she says.

“This is a critical aspect to building evidence and to developing an understanding of how and under what circumstances a particular intervention delivers impact,” she adds.

Palfrey sees the pace of the work as its greatest challenge. “Policymakers often make crucial policy decisions based only on anecdote, status quo, or political belief. Replacing this process of creating policy with one based on scientific research can be slow. Moreover, policy priorities and approaches to governance can quickly shift with changes in administrations.”

Contentious politics make the J-PAL’s work more relevant than ever, he notes. “in today’s hyper-partisan political climate, evidence-based policymaking has garnered strong bipartisan support, and the movement for more efficient and effective governance continues to gain momentum.”

Palfrey notes that there are limitations to the center’s work as well. “The randomized controlled trial is an incredibly rigorous and powerful tool for evaluating whether social programs really work, but they are not always appropriate for every setting.”

He identified three specific limitations:

  1. In some cases, RCTs may not yield results as quickly as policymakers would like for decisions that require immediate evidence.
  2. It can be difficult to generalize results from one study to other contexts; for example, a summer jobs program that helps youth avoid violence in Chicago may not work in the same way in Philadelphia.
  3. In some cases, it might not be ethical to do a randomized controlled trial, for example when a program has the resources to serve everyone who is interested.

Kearney adds, “Too often the results of an evaluation are interpreted as a ‘verdict’ on an organization or a particular program. Instead, the social entrepreneurship community should recognize that this type of evidence building work is really an iterative process.”

She says sometimes social entrepreneurs just need to try again. “If a research project yields disappointing results about the impact of a particular program, depending on the circumstance, it might make sense to try to make incremental changes to the way that particular program is implemented and evaluate the revised implementation.”

Palfrey believes the work is a part of helping people out of poverty. “By transforming government and building a movement for evidence-based policy, we can help lift millions in the United States out of poverty. Committing to evidence-based policymaking will require innovating at every level of government and challenging the status quo. I’m confident that by doing so we can allocate our resources in a way that maximizes benefits for those who need it most.”

On Thursday, March 2, 2017 at 1:00 Eastern, Palfrey will join me here for a live discussion about J-PAL’s work and how it can be utilized by social entrepreneurs to increase their impact. Tune in here (at the top of this article) then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.

Never miss another interview! Join Devin here!

Devin is a journalist, author and corporate social responsibility speaker who calls himself a champion of social good. With a goal to help solve some of the world’s biggest problems by 2045, he focuses on telling the stories of those who are leading the way! Learn more at DevinThorpe.com!

Entrepreneur Leverages Celebrities’ Influence For Charity

This post was originally produced for Forbes.

You can download an audio podcast here or subscribe via iTunes.

“If you do a gesture for charity, you should always make sure that it’s from not a press spin, but a natural, organic effort,” John Travolta said at the City Summit and Gala organized by social entrepreneur Ryan Long.

The City Gala held around the Grammys raised hundreds of thousands of dollars for charities, including Travolta’s own Jett Travolta Foundation, named for his son, who passed away in 2009.

Travolta said his interest in philanthropy began with Katrina. “It was organic. It really was. When Haiti happened, when Hurricane Katrina happened, I had a plane. Nobody was helping them. Why wouldn’t you do it?”

John Travolta with Philanthropist Dale Godboldo, courtesy of City Gala

He also made the case for transparency in charitable work, “Make clear where the money is going so no one ever questions it. You have to have an integrity because it is a known area that could be suspect. You have to have a lot of integrity about admitting and exposing how this gets displayed or distributed.”

Halle Berry, who delivered the keynote address at the Summit, said, “I’ve been an advocate of philanthropic efforts as long as I can remember—for most of my life.”

Berry offered advice for humanitarians, “My advice: take the media training that your team provides you! I recall so many times I’ve walked away from an interview and said to myself, ‘Now why did I say that?’ So prepare for your opportunities, but if you do that, the press can be a powerful way to share the programs you are passionate about.”

Halle Berry with Greg Reid on stage at the City Summit and Gala, courtesy of City Gala

Long has come a long way from his roots to be hobnobbing with the rich and famous.

The City Gala was first held in 2015 and this year expanded to include a full-day Summit. The 2017 event was held on February 11 and 12. This year Berry and Travolta delivered speeches. Quincy Jones was presented with an award. John Paul Dejoria, founder of Paul Mitchell and number 214 on the Forbes 400 list, also presented.

Long chose two charities as the primary beneficiaries of the Gala, “We are tremendously honored to present the 2017 program in support of the International Arts & Philanthropy Foundation (IAP), which provides funding in support of arts, education, early childhood development, as well as the Breed Life program which supports and facilitates the gift of life through live organ donation.”

Ryan Long, courtesy of City Gala

Jeff Timmons of the Grammy-nominated pop group 98 Degrees served as the emcee for the Gala.

City Gala is registered with the State of California Attorney General’s Registry of charitable trusts as a Commercial Fundraiser. Long says, “The entire mission and vision of the City Gala program is to bring business and entertainment heroes together united by their passion for overcoming hard obstacles and for supporting startup and not yet well-known philanthropic causes.”

The event included “a red carpet, silent auction, and a day-long set of presentations and panels by business luminaries from organizations such as NASA, Google, Virgin Galactic and many others,” Long says.

Long says the event was a big success, selling out and raising “hundreds of thousands” for charity. This despite the fact that the scheduled headline celebrity canceled in December due to a conflict, requiring Long and his team to scramble.

For 2018, the Grammys will be moving to New York City so the City Gala will move to Oscar weekend.

On Thursday, March 2, 2017 at noon Eastern, Long and Timmons will join me here for a live discussion about the event, its challenges and impact. Tune in here (at the top of this article) then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.

Update March 9, 2017: After posting the article and conducting the interview posted above, a reader wrote to Forbes suggesting that Long donates only 5 percent of revenue collected at his events to charity and that he “pays off celebs and the ones that participate have no idea what they are walking in to.” The reader directed us to Rip Off Report where a variety of related accusations were made. In a rebuttal, Long acknowledged that as of February 2015, he was behind on his taxes and had filed for bankruptcy in 2010 as a result of the 2008 recession. He also acknowledged several arrests and criminal convictions. He also defended the legitimacy and success of past events, saying that $350,000 was donated to charity after the 2014 event.

In an email response, Long noted that his accuser is known to him. With respect to the money for charity, he says, “I lost money personally/professionally again this year… but managed to raise hundreds of thousands of dollars for the charitable organizations. After years of trying/failing/trying failing, I have evolved and know that it’s simply a matter of time before visions/reality becomes true.”

Dale Godboldo, founder of International Arts and Philanthropy, said by email in response to an inquiry, “IAPF/Breed Life did receive funds from the event and according to our agreements.”

Never miss another interview! Join Devin here!

Devin is a journalist, author and corporate social responsibility speaker who calls himself a champion of social good. With a goal to help solve some of the world’s biggest problems by 2045, he focuses on telling the stories of those who are leading the way! Learn more at DevinThorpe.com!

 

 

How Social Entrepreneurs Begin To Measure Impact

This post was originally produced for Forbes.

This is the first in a series of articles about impact measurement for social entrepreneurs.

There are two keys to becoming a good social entrepreneur. Intentionality, that is intending to have a positive social impact rather than merely delivering one incidentally, is how you become a social entrepreneur. Accountability, measuring the impact, is how you become an effective one.

Measurement, however, is not straightforward for most social entrepreneurs. To help guide startup social entrepreneurs on the measurement of impact, I’ve reached out to some of the leading practitioners and experts in the impact arena to comment.

“It may not be as difficult as it seems, at least for now,” says Stephanie Gripne, Founder and Director, Impact Finance Center & CO Impact Days and Initiative. “The majority of individuals and families [investing in social entrepreneurs] can still be satisfied with basic impact premises and themes, much as they’re satisfied with generalized results from gifts to charities. For now, the democratization of impact investing is being led by values and principles more than measurable outcomes.”

Stephanie Gripne, courtesy of the Impact Finance Center

“Even many institutional investors and advanced investors,” she continues, “are satisfied with ‘outputs – acres conserved, ex-offenders employed, fair-trade products sourced, etc. – as long as the units counted seem reasonable. A smaller percentage (but perhaps a more vocal and well-publicized percentage) are seeking real ‘outcomes’ – the types of harder, longer-term measures that drive Social Impact Bonds for example.”

Cathy Clark, Director, CASE i3 at Duke, highlights the importance of defining a “theory of change.” She says, “This is basically an ‘if-then’ statement that relates their activities to the change they seek. Every social entrepreneur needs to make this argument about their impact. Using that theory, they can they start to recognize assumptions in the theory and track measures that help test how well things are actually occurring.”

Cathy Clark, courtesy of CASE i3

Cecile Blilious, Founder, Managing Partner, Impact First Investments, echoes Clark. “Entrepreneurs should be able to describe their theory of change and work towards creating a social impact plan in parallel with their business plan.”

Cecile Blilious, courtesy of Impact First Investments

Similarly, Uma Sekar, Impact & ESG Manager, Capria Ventures, suggests starting with an impact thesis. “Entrepreneurs should start with an impact thesis or strategy, set goals that are achievable and align their core metrics. Some of the common metrics are lives impacted, job creation and geographic coverage. The more specific they are about the populations they are addressing–base of the pyramid, low income, minorities, women, refugees, etc.–the better. If it is an environment focused company – energy conservation, carbon footprint are common measures.

Lisa Curtis, founder & CEO, Kuli Kuli, suggests identifying a short list of key measures. “Social entrepreneurs should understand how their high-level vision translates down into 3-5 key metrics that are quantifiable. They should be able to articulate what success in 10 years would look like in terms of those metrics, whether it’s the number of trees planted, livelihoods created or investment made.”

Lisa Curtis, courtesy of Kuli Kuli

Focus on measuring the one thing you’re looking to do, says Nell Derick, Founder and CEO, Inspiring Capital. “A simple, customized, quantitative standard related to their self-proclaimed target impact. For example, we’ve been measuring our professionals’ and clients’ reaction to the question, ‘Do you better understand how to use your or your employees’ business skills (e.g. finance, strategy, marketing and operations) to advance social good?’ since our first programs in 2014. It’s not part of a public index or measure, but it tells US if we’re doing what we set out to do, and the very design (and ongoing choosing) of that question forces us to clarify the one thing we’re looking to do in the world.”

Nell Derick Debevois, courtesy of Inspiring Capital

Laurie Lane-Zucker, Founder & CEO, Impact Entrepreneur Center for Social and Environmental Innovation, suggests putting impact measures into a broader context. He says, “Global sustainability context is also important in this discussion of impact measures. Grounding social entrepreneurship in widely accepted contextual touchstones such as the United Nations’ Sustainable Development Goals helps: a) provide sustainability context for impact investors keen on seeing “the big picture,” b) facilitates comparisons between different investment opportunities addressing the same sector (i.e. water, climate, poverty, food), and c) helps ESG [environmental, social and corporate governance] reports using (hopefully) similar impact measurements be more comparable and transparently answerable to macro social and environmental needs.”

Laurie Lane Zucker, courtesy of Impact Entrepreneur Center for Social and Environmental Innovation

Matthew Weatherley-White, Co-Founder, Managing Director, The CAPROCK Group, cautions that no single set of metrics will work for all social ventures. “We believe that there are no universal impact key performance indicators. Instead, social entrepreneurs should be prepared to measure, on day one, whatever impact metrics are endogenous to the operations or mission of their enterprise. Far too often, social entrepreneurs believe that tracking and reporting on a host of socially-aware metrics will make their business ‘more’ impactful… when, in fact, doing so may be (at best) a distraction to operating the business or (at worst) a distorting force, putting at risk the survival of the enterprise.  Seen through this lens, impact measurement can be interpreted as answering the question of ‘materiality’: what impact measures are critical to the survival of the enterprise. That set of measures should be what the entrepreneur strives to report the day the doors open.

Matthew Weatherley-White, courtesy of Cap Rock.

Gary White, CEO & Co-founder, Water.org, also emphasizes the unique measurement challenges each social venture will face. “For enterprises like Water.org and WaterEquity, we are very much focused on delivering impact in the form of number of people reached with water and sanitation improvements.  For our WaterEquity initiative, we also look at IRIS metrics and commit to reporting within that framework.”

Gary White, couresty of Water.org

Matthew Davis, CEO, RENEW, an impact investing firm focusing on Ethiopia, notes that for some ventures impact measure is relatively simple. “In the part of the world where I invest (Africa), where job creation is desperately needed and starting and growing a business is very challenging, the best impact is a healthy growing business that is managed by ethical leaders. Therefore, growth and good governance must be a priority from day one.”

Matt Davis, courtesy of Renew LLC

Peter Fusaro, Chairman, Global Change Associates, agrees. “Hopefully, they should be focused on the ESG metrics of environmental benefits, job creation and be ethical vis a vis transparency.”

Bobby Turner, CEO, Turner Impact Capital, also recommends ESG metrics. “At Turner Impact Capital, our reports provide financial, social and environmental metrics for our investors to track. By doing so, one can then see the correlation and interdependency between profits and purpose, i.e. a reduction in carbon footprint leading to lower utility costs or a reduction in crime translating into lower insurance costs and thus higher profit margins.”

Bobby Turner, courtesy of Turner Impact Capital

Daniel Jean Louis, CEO, Bridge Capital, operating in Haiti, suggest even more basic measures, starting with “customer and employee satisfaction” because they are “much easier to track.”

Balance qualitative measures with quantitative measures, suggests Topher Wilkins, CEO and founder, Opportunity Collaboration and Conveners.org, respectively. “In general, it’s best to be able to justify both quantitative and qualitative impact, i.e. data-driven metrics (how many more children are now attending school, what percentage of women are now surviving childbirth, what’s the increase in average household income, etc.) alongside stories or testimonials from beneficiaries, e.g. ‘before X organization came to my village, it was very difficult to feed my entire family, but now I can provide at least two meals a day and no one is hungry anymore.’”

Expanding on this idea, Lisa Hagerman, Director of Programs, DBL Partners, says, impact measures should include narratives and quantitative measures about the programs and practices related to the target impact. These should include “narratives across: public policy, environmental stewardship, workforce development, community engagement, and, quantitative metrics across: job creation, quality of jobs & benefits offered (including wealth creating programs such as Employee Stock Ownership Plans), environmental metrics, supply chain accountability, among others.

Some investors do have more specific guidelines. Joel Solomon, Chair, Renewal Funds, says, “We are a B Corp Fund. We strongly encourage, but don’t require, portfolio companies to become B Corp. We use the B Corp questionnaire as part of our due diligence before final investment. We prioritize B Corp companies for our intake process.”

Joel Solomon, courtesy of Renewal Funds

Impact takes time so reporting on impact will improve over time, says, Laura Callanan, Founding Partner, Upstart Co-Lab. “If this is a new enterprise, there will be a trajectory to actually deliver impact just like there will be a trajectory to deliver financial return. Impact investors need to think like investors first and foremost and recognize it takes time to build a business and see results, all kinds of results.”

Lauryn Agnew, President, Seal Cove Financial and Founder, Bay Area Impact Investing Initiative, agrees. “We also need to measure both outputs and outcomes, which can take decades. Biotech investments seek the outcome that lives are saved over decades.”

Ultimately, measurement isn’t a panacea. Morgan Simon, Managing Director, Pi Investments, says, “At Pi Investments, we try to focus on impact management above and beyond measurement–ensuring both fund managers and entrepreneurs have a clear vision of how they will enhance the impact of their work over time.”

Morgan Simon, courtesy of PI Investments

Lane-Zucker, emphasizes the organization of the enterprise to minimize measurement challenges. “The more that entrepreneurs can bake double and triple bottom line values into their DNA (mission, legal structure, reporting, etc.) from the earliest stages of their project, the easier it will be to locate appropriate measures as the business begins to take shape and mature.”

Never miss another interview! Join Devin here!

Devin is a journalist, author and corporate social responsibility speaker who calls himself a champion of social good. With a goal to help solve some of the world’s biggest problems by 2045, he focuses on telling the stories of those who are leading the way! Learn more at DevinThorpe.com!

Teaching Kids to Dream Big and Do Big, One Step at a Time!

This is a guest post from Sam X Renick who is the driving force behind Sammy Rabbit.

“All our dreams can come true, if we have the courage to purse them.” –  Walt Disney

Martin Luther King. Steve Jobs. Oprah Winfrey. Howard Schultz. Sallie Krawcheck. Elon Musk. Walt Disney. Donald Trump. The list is endless. They all agree. It’s vital to dream big.

Dreaming big is a broadly championed theme. And, it should be.

Dreaming big can fill us with hope and purpose. It can inspire us to innovate and grow. It can get us to focus and pay attention to detail. It can motivate us to delay gratification and emphasize the long run. It can help us to persevere and overcome obstacles. It can teach us to be resourceful and resilient. It can build our imagination and compassion muscles. It can help us to achieve and lead rewarding lives.

Those potential payoffs make it important for everyone to dream big. That includes kids. We want kids to aim high. We want them to develop the confidence and courage to give their best. In giving their best, there is an excellent chance kids will not only learn about themselves but will also discover their capacity to contribute to others.

I agree wholeheartedly with former E-Bay executive and author Maynard Webb. He counseled in the Wall Street Journal, we should teach kids to dream big. For me, it is an essential part of how I want to leave my mark on the world.

My interest in dreaming big started as a child when my father would say to me, “Sam, it takes just as much time to think big as it does small. So, why don’t you think and dream big?” Later, I would discover others advocated the same, like former Eastman Kodak Chief Marketing Officer Jeffrey Hayzlett who wrote the book, Think Big, Act Bigger. The Rewards of Being Relentless.

I wanted to communicate a similar sentiment to children. In 2003, I authored the storybook, Sammy (Rabbit’s) Big Dream! It was during that period my understanding and appreciation for the magical powers of dreaming big began to deepen.

My mission then and now is to make it easy to teach and talk to kids about great money habits. Personal finance can be a dull, daunting and difficult subject to address. What I discovered is talking to kids about their dreams made it easier to converse with them about money. It also appeared the two topics had a strong and synergistic fit. Poor money habits can destroy lives and be lethal to dreams.Conversely, the quest to make a dream come true can shape behavior. It can be a determining motivator in delaying gratification, an often elusive but essential skill to saving, investing, asset-building or any successful endeavor.

Over a decade later the storybook has evolved into a vision and curriculum, Sammy Rabbit’s Dream Big Financial Education Program. The vision is comprised of five initiatives: (1) The Dream Big Reading and Resource Initiative; (2) The Dream Big Tour and Dream Big Do It Yourself Experiences; (3) The Global Dream Big Network (4) The Dream Big Club; and (5) Global Dream Big Day.

Our aim is to reach kids early with stories, songs, activities, games, experiences and questions that will have them living more purpose filled lives.

As philanthropist and master motivator Anthony Robbins shares, questions are the answers. We want to ask kids and adults, what is your big dream? Do you have a written plan to make your big dream come true? Does your plan include developing great money habits?

We also want to share with children their lives and dreams are worth investing their time, minds, and abilities into. They can make big dreams come true. We think now is a Sammyriffic time to join them in doing it!

Sam X Renick

About Sam X Renick:

Sam X Renick is the driving force behind Sammy Rabbit, Sammy’s Dream Big Vision and the “It’s a Habit” Company. Sam and Sammy are dedicated to empowering kids’ dreams and improving their financial literacy through the development of great habits and strategic life skills. Sam has read and sung off key with over a quarter million children around the world, encouraging them to get in the habits of saving money and reading! He has won numerous honors throughout his career including the New Jersey Coalition for Financial Education’s Lifetime Achievement Award!

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