Impetus increases charitys income by 69%
Photo: Nat Sloane, Impetus co-founder, (left) presents Bryan Teixeira, CEO of NPL, with a unique graduation gift – a model Stephenson “Rocket” steam train, to represent NPL’s turbo-charged growth.
Impetus Trust, the UK venture philanthropy pioneer, announces that Naz Project London (NPL) exited its portfolio at a ‘graduation ceremony’ last night. NPL provides sexual health and HIV prevention and support services to culturally and linguistically distinct Black & Minority Ethnic (BME) communities in London. It also campaigns for effective sexual health policy and good practice.
Impetus invested in NPL in 2005, and over a four year period has provided it with: ¬£175,000 of core funding; an additional ¬£100,000 of co-investment from Charities Aid Foundation; hands-on management support, and pro bono expertise from skilled professionals valued at ¬£279,000.
As a result, NPL’s annual income has increased by 69 per cent, from ¬£0.51m in 2005 to ¬£0.86m in 2009. NPL has also increased the number of people with HIV it helps each year by from 250 to over 600, and it is now working with more than 10 London primary care trusts.
Impetus has supported NPL to develop new initiatives, such as peer education and community volunteer services, which have helped it extend its reach to younger people and in to new BME communities.
Bryan Teixeira, Chief Executive of NPL said: “We could not have achieved the growth and impact at the pace we wanted without support from Impetus. NPL has broken into the next tier of charities and has a stronger policy voice than before, so we can further broaden our impact.”
Daniela Barone Soares, Chief Executive of Impetus, said: “NPL’s growth over the past four years demonstrates the very real impact of our venture philanthropy model. And the growth does not stop now. By building the capacity of NPL with expertise as well as funding, this innovative charity can continue on its growth path long after the Impetus investment ends.”
Impetus works with 14 charities and social enterprises, providing them with an integrated package of management support, specialist expertise from skilled volunteers, and strategic funding to build their capacity. Over three-to-five years, Impetus helps accelerate the growth of these charities so they can help many more people. Last year, Impetus-supported organisations helped over 230,000 people.
Impetus Trust strives to make the biggest difference with donors’ money by helping the charities and social enterprises it supports to accelerate their growth. It provides a support package to investee organisations that consists of capacity-building funding, management support and specialist expertise. Through leveraging the value of donations by co-investment and pro bono expertise, Impetus has been able to generate an additional ¬£4 in value for its charities, for every ¬£1 it invests.