Rockefeller tapped Wharton Social Impact Initiative for this new report on innovative social finance - Generocity Philly

Funding

Sep. 16, 2016 12:29 pm

Rockefeller tapped Wharton Social Impact Initiative for this new report on innovative social finance

Innovative Finance: Mobilizing Capital for Maximum Impact digs into how private capital can be used to alleviate social problems.

Social sector problems, private sector solutions.

(Courtesy image)

Social service providers are in desperate need of funds outside of traditional philanthropic and government dollars. At the same time, financial institutions are trying to sate a growing appetite among clients who demand their investments make some kind of social impact.

Seems like a golden opportunity, no?

“If I’m working at a big bank or I have a lot of money at my disposal, I’m not thinking about [making a social impact] on a day-to-day basis,” said Nick Ashburn, director of emerging market strategies at Wharton Social Impact Initiative (WSII). “If I’m on the service provider side, I’m thinking about how to fund the great work I’m doing every day.”

The disconnect, Ashburn said, is largely due to a lack of awareness. Folks who are managing wealth are trying to find creative ways to meet growing client demand for social impact.

So, WSII, with support from the Rockefeller Foundation, just released a report that will (hopefully) help funnel private sector capital into social sector funding gaps. Innovative Finance: Mobilizing Capital for Maximum Impact, Ashburn said, delves into what’s already been done in innovative finance, highlights the problems that keep this particular kind of finance from growing and fleshes out some solutions.

Read the report

The report is targeted primarily at leaders in business, finance, the nonprofit sector and philanthropy, as well as folks working in international development.

“If you’re a service provider trying to tackle these complex social issues on the ground, are you going to do that through philanthropy or government grants?” said Ashburn. “The likely answer is, not at scale.”

Ashburn said the report will be a tool for Rockefeller to use when it talks about innovative finance and social sector funding with other institutional stakeholders — “They’re also looking to seed fund some of these innovative ideas with their grant money.”

From our Partners

Want more richly researched and deeply sourced community reporting?  Become a Generocity member for $10 per month -30-
LEAVE A COMMENT

From our Partners

PA data: Opioid overdoses spiked during the COVID-19 pandemic

New research: Disparities in respiratory health have persisted or widened in the U.S. in the last 60 years

3 important outcomes for young people who are taught critical race theory

SPONSORED

Generocity Philly

On June 17, First Person Arts and EMOC launch a virtual event they hope will shatter misperceptions of men of color

2950 Potshop Road Worcester Pa 19490

Variety – the Children's Charity of the Delaware Valley

Director of Development

Apply Now
Philadelphia

Playworks Education Energized

Development Operations Associate

Apply Now
Philadelphia, PA

GreenLight Fund

Program Associate, GreenLight Fund Philadelphia

Apply Now

PA county govs map out how they will use American Rescue Plan money while state dithers

You asked ‘How can I help?’ and CHIP found answers

A pitch with teeth: Local power couple to appear on the ‘Shark Tank’ season finale

SPONSORED

Generocity Philly

Good food + good people + good cause = good times

West Chester, PA

Friends Association for Care & Protection of Children

Chief Operating Officer

Apply Now
West Chester, PA

Friends Association for Care & Protection of Children

Advancement Associate

Apply Now
Philadelphia, PA

Fairmount Ventures Inc

Associate

Apply Now

Sign-up for daily news updates from Generocity