Impact Investing with Harvard's David Wood

On February 10, amidst a huge crowd of business, investment and nonprofit leaders, Dallas Social Venture Partners (DSVP) kicked off their 2012 Social Innovation Luncheon Series with a focus on Impact Investing. Hosting one of the field's leading voices on the subject, David Wood, Director of the Initiative for Responsible Investments at Harvard University, provided the attendees with an inside look at why impact investing is so appealing and where this "transformative philanthropy" is heading.





There's nothing like sitting in an audience and getting goose bumps listening to someone paint a picture for what, at one time, seemed beyond possible for investors with a social conscience - the ability to generate a financial return AND a sustainable positive social outcome from investments (click here for photos). As an organization that serves professionals and social entrepreneurs, the venue provided friends and Partners of DSVP with leading-edge insights for how they can make the most of their charitable contributions and business expertise.

Susan Hoff, board chair, summarizes the role of this Series, “DSVP is thrilled to be able to bring a distinguished group of speakers, including David Wood, to our community. We hope this Series will challenge our community to ‘think out of the box’ in order to maximize positive community impact through social innovation and cross-sector partnerships. Many thanks to The Dallas Foundation and our other generous sponsors for their interest in helping us share these ideas.”

The luncheon presentation was engaging, exciting and flew by entirely too fast for those that were hungry for every little detail about how to connect with the impact investing field. Being someone who isn't hardwired for "finance-speak", this presentation was surprisingly tasty thanks to David's humorous style of delivering the information instead of what could otherwise have been like eating dry toast.

For those of you that were unable to make the event, here are three key takeaways from the discussion:

1. The Impact Investing field is dynamic and fluid but the opportunities are real. Thanks to advancements in online technology and access over the past few years, investors have more opportunities and flexibility to create products that meet their needs. The field needs room to flourish and thus we shouldn't try to pin it down or set the bar too high for what we are trying to accomplish.

2. There is some skepticism about impact investing because it is challenging conventional wisdom and practice. Skeptics are wary to the newness of the field and have concerns for the amount of hype that is being generated. To ensure future success, the hype needs to be managed.

3. Impact investing holds the promise of attaining philanthropy's Holy Grail - SCALE and SUSTAINABILITY. Microfinance has become a metaphor for impact investing and is a model for what people are looking for in the field. Taking a closer look at Microfinance as an example, you'll find progressive and sustainable benefits, an emergence of a new financial industry sub sector and the best part, the model is delivering returns that are measurable.

There's no doubt that impact investing has become extremely appealing. Investors and philanthropists alike are highly motivated for what's possible - to be what you own, do more with less, deliver creative market-based solutions and leverage other resources to deliver a real impact.

Thank you, DSVP, for convening another great event to benefit our community in North Texas. The up close look at Impact Investing was empowering and definitely ranked high in the category of social innovation at its best. Oh, and the most important takeaway from the discussion - this is helping to make the world a better place for ALL of us.

For those interested in learning more about David's work at Harvard University's Initiative for Responsible Investment and other impact investing resources, please visit:

www.hausercenter.org/iri
http://www.moreformission.org/
http://www.thegiin.org/
http://www.ussif.org/
http://www.unpri.org/

To learn more about attending DSVP's Social Innovation Luncheon Series, please visit DSVP.org.


Valerie Strong Knight is the owner of Sunshine Avenue, a full service multi-media marketing firm dedicated to illuminating the brand, products and efforts of socially responsible businesses and organizations. Formerly a CSR executive for a Fortune 10 company, Valerie now focuses her time and energy on helping socially responsible organizations realize a greater return on their philanthropic investments and partnerships.


Photo Credit: Stephen Masker Photography http://www.stephenmasker.com/.

Keith Beers

Keith Beers has been a DSVP partner for three years. Through their family foundation, Keith, wife Helen Laughlin Beers, and their five sons have been supporting area nonprofits for over thirty years. They like active participation with nonprofits, not just writing checks, so DSVP was a natural fit. Keith has contributed greatly to the work of DSVP’s Portfolio Review Committee; Investment Committee; Budget, Audit and Accounting Committee and Board of Directors. He has applied his financial acumen and rigorous attention to detail.

Retired for over 40 years, Keith and Helen have traveled extensively. They owned a 500-year-old stately home in England for over 20 years, and a 100-year-old home in Texas that is on the Register of Historic Places. Keith has written over ten books, mostly on genealogy. He has documented the genealogy of four of his ancestors who were Mayflower passengers, numerous Revolutionary War Patriots, and a Jamestowne settler thought to be the subject of Shakespeare’s Tempest.

“I have enjoyed my experience with DSVP,” says Keith. “I have met many interesting and engaging partners. I continue to be amazed at the depth and variety of partner collaboration with our Investees. Through DSVP, I have been introduced to numerous effective and growing nonprofits that are trying to meet the needs of the many underprivileged in Dallas-Fort Worth.”

Partner Profile: Robin Minick

Robin Minick joined DSVP in 2009 and immediately joined the Investment Committee, the vehicle DSVP uses to determine which nonprofits to add to their portfolio. She became an early champion of Dallas Community Lighthouse (DCL). DCL is an apartment-based after-school tutoring program focused on math, language arts and reading. DCL’s overall method and strategy is to look at the whole child and help the child get engaged in learning – which affects their performance in school. Once DCL was chosen, Robin became a co-Lead Partner and participated in creating a business and marketing plan to enable them to serve more children by adding more sites.

This year, Robin has increased her commitment by serving as Co-Chair, along with Dick Evans, of the Investment Committee, which will soon announce the new Investee slate for 2012. Robin additionally serves as the Director of The Real Estate Council Foundation and chairperson of the board at the Anita N. Martinez Ballet Folklorico.

Partner Profile: Barbara Errickson

Barbara Errickson joined DSVP in 2009 and immediately began working with investees (nonprofit beneficiaries of DSVP’s efforts). Barbara has over 35 years of experience working with TI and EDS, among other companies. She has put that experience to use on major systems projects with, among others, KIPP DFW, Dallas After School Network (DASN), The Samaritan Inn, Youth Village Resources of Dallas and TRM. She also serves as co-lead partner for KIPP DFW, a south Dallas charter school whose mission is to provide underserved children with a free, rigorous, high quality education that offers the knowledge, skills and character traits necessary to thrive in school, college and the competitive world beyond. She is a shining example of how DSVP Partners bring their business skills into nonprofits to help expand their capacity to serve.

When asked about her “ultimate giving goal,” Barbara had this to say:

“I want to utilize 35-years of professional experiences in support of not-for-profit community growth. We may all be created equal in the sense that with equal upbringing and support we have an equal chance to succeed, but the fact is, not all of us have the kind of supportive family that I have. I'd like to help spread some of that "equal" support to the less fortunate but potentially talented among us.”

Partner Profile: Elaine Bernstein

Addison resident Elaine Bernstein moved to North Texas in 2009 when she semi-retired from her labor and employment law practice in Dayton, Ohio. Drawn by the desire to be closer to her daughter and grandchildren, Elaine also quickly established new personal, professional and philanthropic networks. She joined DSVP and immediately went to work putting her professional skills to use helping several Investees (nonprofit beneficiaries of DSVP’s efforts) develop human resources policies and manuals.

Elaine has also become Co-Lead Partner of VMLC, whose mission is to improve English literacy levels among non-English speaking adults and their children by providing programs in communications and life skills. Elaine is helping advance their vision that the ability to understand, read, write and speak English contributes to the independence, productivity and overall well-being of the learners, their families and the greater community.

Partner Profile: Scott Chase

Dallas attorney Scott Chase has been a partner with DSVP since 2007. Already a veteran of years of nonprofit involvement in the Dallas community, Scott viewed DSVP as the perfect avenue to blend his expertise and dollars with like-minded philanthropists to create an even greater impact on the community.

During his participation on the Investment Committee (the vehicle that DSVP partners use to select their nonprofit investees), Scott had the opportunity to make an even-deeper connection with Youth Village Resources, for whom he had previously provided pro bono legal advice. YVR provides job training programs, including dog training and culinary training, for residents of Dallas County Youth Village, a county detention facility for nonviolent young offenders. Scott has served as co-lead partner for YVR for three years. With DSVP’s help, YVR has undergone truly transformative organizational change, including building a robust board and strategic plan. Armed with a recent University of Texas at Dallas study (spearheaded by DSVP) which demonstrates the powerful results YVR’s training programs have on recidivism and employment prospects for program graduates, YVR is putting the finishing touches on an aggressive fundraising strategy.

Metrics are, of course, wonderful, but for Scott, the real payoff comes in hearing the stories of the impact on individual young men. A young man was recently asked what he learned from the dog training program. He thought about for a minute and said, “I learned you don’t have to abuse your kids.”

Partner Profile: Susie Morrissey

Susie Morrissey joined DSVP in 2006 and has been tireless in offering her assistance to our Investees (e.g. nonprofit beneficiaries of DSVP’s efforts) – especially by her ongoing participation in the Investment Committee, the vehicle DSVP uses to determine which nonprofits to take into their portfolio. A successful entrepreneur, Susie has a wide range of skills sets that she brings to organizations. She has been a Lead Partner several times, and most recently serves as the Co-Lead Partner, along with Murray Covens, at PediPlace – whose mission is to provide quality healthcare to children with limited access to care. She takes great pride in helping organizations create systems that improve their efficiency and help them make a more powerful impact in the communities they serve.

Partner Profile: Phyllis and Richard Bernstien

Prestonwood residents Phyllis and Richard Bernstein are avid travelers. They've gone on many journeys together, including to such exotic locations as Antarctica and the Arctic. And now that Richard has sold his successful business valuation firm and retired, he's joined Phyllis in another important journey—becoming an engaged philanthropist.

Phyllis, who stopped working as an audiologist to raise her children, has long played a prominent leadership role in Dallas nonprofit circles, including with The Volunteer Center of North Texas and the Center for Nonprofit Management. In 2011, Phyllis was honored for "Excellence in Mentoring" by the 46th Annual Women's Symposium at SMU. Phyllis carried the Olympic Torch after Troy Aikman passed it to her. The Dallas Morning News has recognized Phyllis as Volunteer of the Year.

Phyllis and Richard joined Dallas Social Venture Partners, a group which invests both time and expertise in helping nonprofits build capacity, in 2007, and quickly became one of DSVP's "power couples." Richard has lent his financial expertise to several of DSVP's grantees, including Youth Village Resource Center, and has also served on DSVP's Finance and Audit Committee and the committee that regularly reviews DSVP's portfolio of grants. Phyllis recently became the "co-lead partner" for VMLC, one of DSVP's newest grantees. (Lead partners act as liaison between the nonprofit grantee and the team of DSVP partners who are providing professional services to address specific needs of the nonprofit).

As you can see from this photograph, Phyllis and Richard are still enjoying their journey together!