The social venture philanthropy approach to running philanthropic organizations utilizes concepts and methods from high-technology business management and venture capital finance. One nonprofit that puts social venture philanthropy into practice is The Smile Foundation NGO, founded by corporate professionals in India. The NGO’s “soul” is its working model of social venture philanthropy. This model connects charitable giving with social investment strategies, and the goal of these efforts it to achieve sustainability and scalability. Effectively, the model has instilled in charitable organizations the need to be more accountable and has encouraged them to develop a culture of excellence and leadership. When the Smile Foundation invests money in grassroots NGOs, it makes a long-term commitment. Furthermore, the foundation seeks to utilize broad-based strategies by working with a large number of organizations and like-minded individuals around the world. In this way, the foundation aims to maximize its reach and receive an augmented response to its initiatives. Just as importantly, the Smile Foundation looks into the outcomes of its ventures to determine which of its approaches are the most effective. Today, partly due to the Smile Foundation’s endeavors, hundreds of nonprofit projects around the world are a testament to the viability of efficient philanthropy. About the Author: Ashok Bagdy is proud to be a supporter of the Smile Foundation. He works in Outsourcing Services at the Tampa, Florida, offices of Cameo Corporate Services Limited.
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AuthorAshok Bagdy - Cameo Corporate Services Limited Archives
May 2017
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