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Ten Ways To Make A Big Bet On Social Change

CSRNEWSSA May 28, 2017
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Julius Rosenwald is one of our philanthropic heroes. In the early 1910s, having already made business history by transforming Sears, Roebuck & Co. into the Amazon of its day, he set out on an even more audacious mission: to remedy the huge gap in elementary and secondary education for African Americans. In partnership with Booker T. Washington, Rosenwald sparked the creation of the Rosenwald Schools—a term used informally to describe a loose network of nearly 5,000 schools established to educate African American children across the Southern part of the United States. He contributed start-up funding for many of the schools, and, in a groundbreaking move, succeeded in drawing in money from state and county governments.

Big bets on social change, like the one Rosenwald made, are relatively rare—despite the great desire of most major donors to advance such causes.2 That rarity is heart-wrenching, given that big bets can have extraordinary impact. They can radically change the organizations or social movements they support, creating leaps in their recipients’ abilities or long-term ambitions. Mind you, it’s not a quick process. The biggest bets generally come out of years of work and build on multiple smaller grants.

Read the source article at The Bridgespan Group.

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Learning and benchmarking are key steps towards becoming an impact giver. If you are interested in giving with impact on Impact Philanthropy take a look at these selections from Giving Compass.

  • This article is deemed a must-read by one or more of our expert collaborators.
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    How This Scholarship Program is Improving College Access and Success

    Giving Compass' Take: • The Detroit Promise is a scholarship program that helps high school graduates attend local colleges and universities at no cost. This scholarship is supported by evidence-based strategies that MDRC uses to evaluate community colleges.  • The scholarship program also incorporates four other support systems for students that help them adjust to campus life and develop financial literacy skills.  How can other universities use a similar model for scholarships?  • Read about what is necessary to make college more affordable.  The Detroit Promise, administered by the Detroit Regional Chamber, allows the city’s high school graduates to attend local colleges tuition-free. The community college scholarship program covers any difference between financial aid and tuition for up to three years at five area community colleges: Henry Ford College, Macomb Community College, Oakland Community College, Schoolcraft College, and Wayne County Community College. Although the program helps Detroit’s students enroll in college, too few stay in school and graduate.  


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