THE REPLICATION JOURNEY Julia Grant – Impetus Trust 1

What Impetus Trust Is All About 1.Impetus Trust is a charity that helps other charities to scale up and achieve greater impact (last year we helped turn around the lives of over 450,000 people through our active portfolio of 14 charities ) 2.Impetus works with best in class charities that are tackling the root causes of poverty but who need strategic support (2,000 charities have applied for help from Impetus since 2002) 3.Impetus is the pioneer of venture philanthropy in the UK set up ten years ago (won the top award for grantmaking at the UK Charity Awards 2008 & The Institute for Turnarounds Top Turnaround Award 2011 (Third and Public Sector category) An independent evaluation by Bain & Company reported that 94% of the charities Impetus helps said that they could not have achieved the same degree of change without Impetus. 2

Case study: St Giles Trust What St Giles does: St Giles Trust reduces reoffending through a range of innovative projects. The foundation of its work is training ex-offenders to help others in need to resettle and make a positive contribution to society. The focus is on providing access to housing, training and jobs for ex-offenders, especially through its peer advisor work in prisons. Before Impetus (2003/04) After Impetus (2009/10) Organisational focus One of over 200 London homeless day centres Leading offender resettlement service in Southern England Strategic challengeFragmented, poorly funded sector Pushing peer advice model as mainstream service Annual income£1.3m£5.1m Peer advisors trained No. of prisons224 No. of people in employment 8226 Tenancies saved/housing obtained Why We Exist Breaking the cycle of economic disadvantage 3

Success factors: why other companies and individuals give to Impetus 1. Rigour of charity selection, due diligence and monitoring 2. Long-term impact of active engagement 3. We multiply the value of donations Over 2,000 applications, 25 investments Know where money is going and what it will do for the charities We have monthly monitoring, semi-annual and annual evaluations We back a strategic plan, not a project We build the capacity of an organisation so it can sustainably scale up Impetus charities grow their influence in the sector and in public policy For each £1 of funding charities received from Impetus, they get nearly £4 more in value (money & expertise) Donations leveraged by attracting partnership investment, pro bono expertise and additional funds raised The Impetus Portfolio Of Social Ventures Shows significant growth in people helped in 2011/12 4

39% IS AN ANNUAL INCOME GROWTH OF 19% AND ANNUAL GROWTH OF PEOPLE HELPED OF £7.4m funding since inception £3.4m investment management value since inception £9.6m Pro Bono value since inception

The Investment Model – Expert Assistance Screening and Due Diligence Investment Planning Phase Investment Scale-up Phase Throughout the Investment Investment Cycle Time Commitment Investment Research 5-10 days over a month Strategic Review Team of 3-5 full time for 2-4 weeks Business Planning Team of 3-5 for a day a week over 3 months Mentoring Half a day a week for minimum 6-12 months Strategy Workshop 4 hours IT Review and Advice 10 days over 2 months Marketing Strategy 10 days over 2 months Board Review 10 days over 2-3 months Legal Advice Ad hoc advice to longer commitment Financial Modelling 5-10 days over 1-2 mth Financial Reporting 2-5 days over 1 month HR Advice / Review 5-10 days over 2 mths Market & Competitive Position Review 10 days over 1-2 mths Financial Review 10 days over 1-2 mths Charity Pitch Review 4 hours 6

Case Study: Intouniversity What IntoUniversity does: IntoUniversity inspires and engages young people from disadvantaged backgrounds to attain either a university place or another chosen aspiration, by offering long- term, out-of-school study support. Before Impetus (2006/07) Year 5 of the investment (2011/12) Organisational focusModel of long-term academic and pastoral support to young people from disadvantaged families London-based network of learning centres offering long- term academic and pastoral support; first non-London centre established Strategic challengeTest the model on 6 centres and develop a replication plan Planning the next phase of growth Annual income£164k£1.84m No. of young people in Focus programmes 4459,475 No. of centres19 7

Case Study: Intouniversity Key Enablers Track record: attainment of IU students vs National FSM index. Fundraising: restricted and unrestricted to grow the capacity of SMT. Staff: right people in right locations with appropriate oversight and direction. Partnerships with universities: clear value proposition to offer university WP schemes. 8 Key Objectives: Transform Phase To be the lead provider of quality widening participation services Operating in at least 5 UK cities, min of 20 centres Serving min 0f 17,000 students

Case Study: Teens and Toddlers Teens and Toddlers inspires young people to achieve the skills, qualifications and self belief they need to succeed in education and life. It targets, at-risk teenagers and vulnerable toddlers to raise the aspirations of at-risk teenagers, through an innovative programme for teens to act as role models to vulnerable toddlers in a safe nursery environment. Impetus support package: Impetus investment period: Grant funding: £835k Pro bono services donated: £480k Investment management value: £191k Total funding package to date: £1.51m Replication through Social Investment £3.25m investment with Bridges Ventures and Big Soc Capital, supporting DWP funded PBR project. North West region with capacity for roll out. Associated funding from the Investment and Contract Readiness Fund (SIB for Cabinet Office). Key outcomes funded – Educational attainment – Educational engagement