Philanthropy, Social Entrepreneurship and Nonprofits

The nonprofit sector in the US is very fragmented. GuideStar estimates as of July 2015, more than 1.5 million nonprofits registered with the IRS as tax-exempt, not including 6000 nonprofits not registered with IRS but included in GuideStar database. Nevertheless, the nonprofit sector is the third largest workforce in the United States, helped by the emergence of new age philanthropy and social entrepreneurship. The US nonprofit workforce ranks third in size among the 18 major US industries, behind only retail trade and manufacturing.

An analysis by Bridgespan revealed that very few nonprofits could recuperate their profits when accounting for their direct and indirect costs.1 Many nonprofits are becoming more entrepreneurial, diversifying into alternate sources of funding. Even mainstream nonprofits have become entrepreneurial; Chronicle of Philanthropy publishes a list of top 400 nonprofits in the US ranked on the merit of fundraising.2 The growing importance of self-financing in the social sector shows the blurring edge between nonprofits and social enterprise.

# New Age Philanthropy. Rise of the Geeks and technology for giving 

A resurgence in philanthropy through an altruistic thrust by young technology billionaires has made the social sector more transparent, causing a paradigm shift in the prevailing social business model. The structural shift boosted nonprofits efficiency and channeled social entrepreneurship. In recent years, new age philanthropists like Bill Gates, Pierre Omidyar, Thomas Siebel, to name a few, brought more accountability into the nonprofit sector. The significant structural change brought by new age philanthropists resulted in an increase in capital resources, innovation, and technical know-how within the giving ecosystem. The new age of giving percolated among many billionaires and millionaires around the world, increasing the number of philanthropists. Example, Warren Buffet and Bill Gates giving pledge movement.  Pic source below: givingpledge.org.

Focus on critical sectors, including defining a measurable mission, example, eradication of malaria by a specific date brought a renewed focus on addressing critical issues facing the society. Bountiful budget helped in designing creative solutions as well as attracting the best talent in the industry. A formative change in philanthropy started through a rigorous scientific method for identifying and evaluating critical solutions using statistics and other data-driven models. Furthermore, new age philanthropists are usually successful tech entrepreneurs, well-educated with tangible skill sets, who leverage their contacts to motivate and collaborate with other entrepreneurs, government officials for sustainable social missions. The new age philanthropists provide an impetus, bringing about a mindset change around the world with the rise of for-profit social enterprises, think tanks, micro-lending organizations, and foundations to work towards measurable social change. Philanthropists today take an active participatory role, driving sustainable social change by fostering innovation and best business practices in nonprofits. Further, philanthropists enable social entrepreneurship within the business ecosystem. 

Continue reading “Philanthropy, Social Entrepreneurship and Nonprofits”

Quote of the month

                                                          “To err is human, to edit, divine.”

                                                                       Grammarly.com

Sustainable Development Goals: Pioneering Solutions for India

The 14th Edition of Global Compact Network India’s (GCNI) National Convention on Sustainable Development Goals: Pioneering Solutions for India recently concluded at Grand Hyatt, Mumbai. The Convention attracted more than 500 delegates and was well represented by various actors including government, UN agencies, non-profits, academic and civic societies committed to driving sustainable development solutions within the Indian social ecosystem. For the first time, an exhibition was showcased on Best Practices of Sustainable Development Goals (SDGs). GCNI and United Nations Development Programme (UNDP) co-hosted a Round table on ‘Human Rights for Corporate Responsibility’ on 30th May 2019 as a curtain raiser to the convention. This is my final comprehensive article on the GCNI Convention and includes many videos to encompass the essence of the event.

To know a bit about GCNI and United Nations Global Compact, let’s watch my conversation with Mr. Kamal Singh, Executive Director of GCNI.

Dr. Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister and Member, NITI Aayog, kick-started the convention through his inaugural address (refer to my previous article). The other speakers at the inaugural session included Dr. Uddesh Kohli, Senior Advisor, UN Global Compact, Ms. Renata Dessallien, UN Resident Coordinator in India, Mr. Shashi Shanker, President GCNI & CMD, ONGC Group of Companies, Mr. Rajeev Dubey, Convener– GCNI 14th National Convention & Group President (HR & Corporate Services) & CEO (After-Market Sector) Member of the Group Executive Board Mahindra & Mahindra Ltd. and Mr. Vishvesh Prabhakar, MD-Operations & Sustainability, Accenture Strategy and Mr. Kamal Singh, Executive Director, GCNI.

SDGs were adopted by 193 countries at the UN Sustainable Development Summit in Sept 2015 and came into effect from 1st Jan 2016. SDGs remarkably increased the umbrella of initiatives from the set of 8 international development goals with 18 quantifiable targets under Millennium Development Goals (MDGs) to set off 17 Goals with 169 Targets. To circumvent the pitfalls of global imbalances during the MDGs era, SDGs formulated a wide range of goals for making sustainable goals more universal and inclusive. Continue reading “Sustainable Development Goals: Pioneering Solutions for India”

Update

Check out my new article on Sustainable Development Goals: Pioneering Solutions for India a well-rounded coverage on the GCNI Convention 19 and a must read for everyone. It includes videos to drive the essence of the convention and was a brief on SDGs.

Check out new videos on my YouTube channel on Boxing, Scrabble, and conversations at GCNI Convention 19. Subscribe and promote to spread goodness among all.

Mr. Manoj Pingale: Superlative Boxer, Athlete and Coach

I interviewed one of India’s foremost boxing champion Mr. Manoj Pingale at his academy in Pune, India. He has represented India at many prestigious international boxing events including Seoul, Olympics. He is a mentor ,coach and trains future Olympians.

Exclusive interview here and never seen before footage. Only on themiddleroad.org and my YouTube Channel Nish Malhotra.  Yours Truly…Nishant Malhotra

 

GCNI Convention 19: Inauguration and Dr. Bibek Debroy

The hallmark of a great national convention lies in the quality of speakers especially the inaugural speaker. GCNI Convention19 had stellar speakers exemplified by Dr. Bibek Debroy, the inaugural speaker at the convention.  The other speakers at the GCNI Convention19 inaugural session included Dr. Uddesh Kohli, Senior Advisor, UN Global Compact, Renata Dessallien, UN Resident Coordinator in India, Shashi Shanker, President GCNI & CMD, ONGC Group of Companies, Rajeev Dubey Chair-GCNI Present National Convention & Group President (HR & Corporate Services) & CEO (After -Market Sector) Member of the Group Mahindra & Mahindra Ltd. and Vishvesh Prabhakar, MD-Operations & Sustainability, Accenture Strategy and Kamal Singh, Executive Director, GCNI. In my subsequent article we will look at length at many more moderators and speakers. Refer to my YouTube channel Nish Malhotra for videos of my interaction with moderators and speakers at the convention. Cover photo of all inaugural speakers at the GCNI Convention 19. Continue reading “GCNI Convention 19: Inauguration and Dr. Bibek Debroy”

Blockchain and Global Development

BLOCKCHAIN is one of the most promising emerging technologies in the world today. The technology behind cryptocurrency Bitcoin, Blockchain is increasingly being deployed across different industries especially banking and global development by facilitating transactions including crowdfunding. Blockchain is a peer to peer distributed ledger technology with series of blocks containing information, with each block containing the marker code to the next block, making it impossible to manipulate the data. Originally designed in 1991 by a group of researchers to digitally timestamp documents to prevent backdating of the documents, blockchain technology today is driving transparency and accountability behind global transactions.

The proliferation of blockchain technology is fast rising in India development sector as well and it was widely discussed at GCNI Convention in Mumbai. Refer to my You Tube channel GCNI Convention Video 5. Blockchain has emerged as a fail-safe mechanism for boosting philanthropy in China and this model should be replicated around the world. Refer to the paper China’s New Model of Blockchain-Driven Philanthropy By Xiaofeng Wang & Kevin C. Desouza published by Stanford Social Innovation Review. If you follow my twitter account @nishmalh29 you might have read the paper. Blockchain technology will greatly help in achieving SDGs globally through its various applications.

So what is blockchain?

Listing a video which explains the concept in a simplified manner.

 

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