In 201/12 Impetus achieved an average compound annual growth rate (CAGR) in the number of people its organisations are able to help by 39%
Ripplez, a social enterprise that helps first-time young mothers get the support they need early on in parenthood, has been able to more than double the number of families it was able to help last year, having benefited from a support package from Impetus Trust.
During the past year, Impetus has helped Ripplez to review its organisational structure, clarify its growth strategy, recruit an operational director, and improve its financial and impact reporting. This enhanced capacity and capability has helped Ripplez double the number of people it is able to help, and increase its income by 72%.
Read more: What is Impetus Trust?
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According to Impetus Trust’s annual impact figures, announced today, there are currently 16 charities and social enterprises in the Impetus portfolio. All of these are receiving a support package consisting of management support from the Impetus investment team, as well as pro bono specialist expertise and strategic funding to accelerate their growth. Impetus usually works with its portfolio charities for up to five years, and the value of the total support package often exceeds £1 million.
In 2011/12 Impetus achieved an average compound annual growth rate (CAGR) in the number of people its organisations are able to help by 39%. This rate has increased by almost a third compared to 2010/11, and is just one of the impressive figures reported in the organisation’s latest impact report published today.
In 2011/12 Impetus portfolio organisations have:
· increased the average number of people they help by 39% a year
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· helped over 485,000 economically disadvantaged people to access education, skills and jobs
· increased their average income by 19% a year
· received over £5 million of value in management support, pro bono expertise and grants from Impetus.
For the last ten years Impetus has funded charities and social enterprises strategically, backing business plans geared towards growth and translating the practices of the venture capital industry into the social sector.
Read more: Impetus Trust to approve grants to social enterprises
Commenting on the publication of the report Impetus Trust Chief Executive, Daniela Barone Soares said, “When Impetus pioneered venture philanthropy in the UK a decade ago, we hoped we could help organisations in the social sector dramatically increase their reach. In 2011/12 we have achieved more than ever before.
“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. Those of us on the cutting edge of social innovation need to ensure that, together with creating new financial instruments to support high-potential charities and social enterprises, we also ensure that there is an adequate pipeline of social organisations ready to take them on.
“This is the important work we are doing at Impetus, and we look forward to supporting many more charities and social enterprises in our second decade.”
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