Six thousand London children turn disadvantage on its head

Date: 29 Nov 2011

Citywealth

In the three years since Impetus Trust began backing IntoUniversity, the charity has seen a fourteen-fold increase in the number of disadvantaged children and young people it supports each year. In 2008 it supported 445 children to attain either a university place or another chosen aspiration, while this year 6,405 young people participated in its programmes.

This impressive step change in performance is just one example of the growth an organisation can achieve when backed by Impetus Trust. The venture philanthropy organisation’s 2010/11 impact results show that charities and social enterprises in its portfolio achieved the following results:

* Increased the average number of people they help by 30 per cent a year
* Helped over 300,000 economically disadvantaged people
* Increased their average income by 23 per cent a year
* Read the full results on www.impetus.org.uk/impact.

Impetus Trust pioneered the venture philanthropy model in the UK, translating the practices of the venture capital industry into the social sector and helping 23 innovative and ambitious charities and social enterprises to grow and multiply their social impact.

Since 2008 Impetus has provided IntoUniversity with long-term funding – matched by other grantmakers and corporate partners sourced by Impetus; management support from the Impetus staff to help it build a solid infrastructure; and highly-skilled pro bono experts, working alongside the charity on crucial strategic projects.

As a result, IntoUniversity has expanded its activities from one to eight centres across London and is able to inspire many more 7-18-year-olds to reach their potential.

Impetus chief executive Daniela Barone Soares said: “When Impetus pioneered venture philanthropy in the UK nearly 10 years ago, we hoped we could help organisations in the social sector to exponentially increase their reach. We are proud that our vision has become a reality and that even in the current economic climate, the charities and social enterprises we invest in continue to grow.”

IntoUniversity chief executive Rachel Carr said: “With the support of Impetus we have raised ¬£3million, extended the charity’s reach to five new Boroughs and formed partnerships with numerous businesses and higher education institutions as well as 150 new schools. Impetus has played a pivotal role in IntoUniversity’s efforts to improve the life-chances of some of London’s most disadvantaged students through higher levels of educational achievement and personal development.”