Equally critical is keeping a clear eye on the mission of the organisation – ensuring that both finance sought and activities funded are mission consistent. Alongside mission consistency, focusing on maximising impact from the activities funded applies whatever the funding mechanism.
Many Chairs will need help to understand the technicalities of social investment. Many boards in general do not even know that it exists. This is why I am supporting the GET INFORMED campaign as it offers an opportunity for boards to get the information, guidance and support they need to find out what it is, how it works and whether it could help to support their charitable mission. A key part of a board’s role is to ensure the organisation delivers the best outcomes for its beneficiaries. It is important that boards explore how social investment might enable them to do that well.
Good Chairs will see this as business as usual. Social investment may be a relatively new term, but innovation in fundraising has been around for a long time, and this is no different.