84. How to Leverage Venture Philanthropy to Grow Your Impact -Dr. Angela Jackson

Dr. Angela Jackson, New Profit, We Are For Good Podcast, Venture Philanthropy

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Overview

Meet Angela. When you meet someone with a Harvard PhD in Education Leadership, you settle in because you know innovation and genius are going to collide. And yes it did! We're talking to Dr. Jackson about venture philanthropy (what is it?) and exploring how we can leverage our missions to breakthrough to social entrepreneurs. It's a fascinating discussion about developing innovative technical solutions to help missions partner with big dreamers.

Today’s Guest

Dr. Angela Jackson, Managing Partner, New Profit

“We know that this is a big problem that one foundation or one philanthropy will not be able to fund themselves. It’s about radical collaboration, and telling stories is a big piece to share what we’re learning.”

— Dr. Angela Jackson, Managing Partner, New Profit

Episode Highlights

Dr. Jackson’s story and journey to where she is today at New Profit (3:30)
The mission of Global Language Project: An organization founded by Dr. Jackson that supports the expansion of K-12 world language programs in public schools
An overview of venture philanthropy and the mission of New Profit (7:50)
New Profit’s the Future of Work Grand Challenge, powered by New Profit, JFF, XPRIZE, and MIT Solve (10:20)
It is all about the power of big thinking, connectivity, and pulling sectors together (18:15)
Leveraging storytelling to take this to a global scale (19:30)
Dr. Jackson’s Medium blog, and the power of storytelling (22:00)
You have to be in the mindset to up-skill. There are many contributing factors to the larger systemic issue (24:00)
140,000 women, majority of which were women of color, left the work force last month (24:00)
A powerful moment of philanthropy for Dr. Jackson (25:00)
Unrestricted funding and the power of the greater good (28:00)
Dr. Jackson’s One Good Thing: Utilize Systems Thinking. What players need to be at the table? Don’t try to do it all.

Powerful Quotes:

“I knew that if I was able to tell these stories, people may donate or support these organizations. I wanted to give people a place to start.” -Dr. Jackson

“I went from the corporate world to fundraising with Global Language Project. I wanted to learn how to understand how we can have more effective philanthropy. How can we give entrepreneurs license and funds to realize those ideas based on their lived experiences.” -Dr. Jackson

“After founding an organization I realized I wanted to go on the other side to help influence how dollars are invested.” -Dr. Jackson

“As nonprofit leaders, we sometimes are the last folks to get development because there is not money for it.” -Dr. Jackson

“It’s the money, the wraparound source, and the though partnership that can take social enterprises to the next level.” -Dr. Jackson

“In launching the Future Work Grand Challenge, we don’t know where those good ideas are going to come from. We think some will come from nonprofits and for profits and so we realize that, even now, we need to be more flexible with our capital to meet the entrepreneurs of the day and the goals they are trying to achieve.” -Dr. Angela Jackson

“This would revolutionize the nonprofit sector if we had this level of adaptability and partnership.” -Becky

“One thing that most of us know is true, the people that were hurting pre-pandemic were there. Our work force system wasn’t working for a lot of people, and COVID has amplified that situation.” -Dr. Jackson

“We thought we could use philanthropy to incentives philanthropists to think about this population. These employers spend 80%+ of their dollars on professional development on the highest wage workers. If you think about low-wage and entry level workers, the training that they receive is more about compliance.” -Dr. Jackson

“What you are saying here needs to be lifted. We’re not investing in the front line in trying to develop them as a person, it is just about compliance. We have to actually invest in our people to change the trajectory in our organizations.” -Jon

“How do we take these innovative trainings and opportunities to places where people may not normally get them?” -Dr. Jackson

“Work force boards served 1 in 12 people in 2019. A lot of folks are going there for resources, but they’re getting the same old training. What if we could give them training that inspires them and is in demand right now? -Dr. Jackson

“The nonprofit sector and the way it was set up is so handicapped in this way. We almost stymy ourselves our ability to scale and be creative. You have thrown that playbook out of the window.” -Becky

“We know that this is a big problem that one foundation or one philanthropy will not be able to fund themselves. It’s about radical collaboration, and telling stories is a big piece to share what we’re learning.” -Dr. Jackson

“I was raised by my grandparents in the midwest and my grandpa worked at the local Chrysler factory. I was the beneficiary of him having a blue collar, good job. What my grandfather was making in 1975, it is the same amount of money people today are making based on the cost of living. We went backwards instead of forward. All of those factory workers that had good jobs, they don’t exist.” -Dr. Jackson

“We can do better. We need to hear more real stories.” -Dr. Jackson

“It is incumbent upon us to let people tell their stories and look behind the curtain of what reality is like. Until we understand, we’re not going to feel activated to go and improve.” -Becky

“You have to be in the mindset to up-skill.” -Dr. Jackson

“We’re trying to work shoulder to shoulder with founders. Anytime a foundation gives, it is about trust. If I say I trust you, I don’t need to hand hold. You are the expert in your issue. Our entrepreneurs come to us with insights about what they need, and we want to be thought partners.” -Dr. Jackson

“We want to give risk capital. We need people to take risks and go forward with their models.” -Dr. Jackson

“If a nonprofit is doing the same program year after year, where are they innovating and getting better? We have to move from charity to justice. That is what we all want.” -Dr. Jackson

“When you build community, you don’t have to do it all, it will come to you if you are very clear about what you are doing and who needs to be at the table.” -Dr. Jackson