- 1 week ago
Nancy Bonges’s story starts as the daughter of Korean immigrants whose experience as a first-generation American informs her work as Executive Director of Community Engagement at William Blair, now spearheading a global corporate community strategy. Bonges explains how companies can move beyond traditional philanthropy by empowering employees to drive meaningful change in their communities. She also dives into the idea of “first-gen wealth builders,” why inclusive economies benefit everyone, and why nonprofit status should never limit how organizations invest in people, infrastructure, and growth.
Along the way, Nancy offers candid insights on trust-based philanthropy, skills-based volunteering, and how emerging generations are redefining impact, purpose, and leadership in business. Whether you work in philanthropy, corporate social responsibility, entrepreneurship, or are simply curious about how business and community can grow together, this conversation delivers thoughtful perspective and practical inspiration.
Along the way, Nancy offers candid insights on trust-based philanthropy, skills-based volunteering, and how emerging generations are redefining impact, purpose, and leadership in business. Whether you work in philanthropy, corporate social responsibility, entrepreneurship, or are simply curious about how business and community can grow together, this conversation delivers thoughtful perspective and practical inspiration.
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LearningTranscript
00:00It's not a zero-sum game where there's a set pie.
00:03It's like, let's grow the pie.
00:04Let's grow the pie.
00:06Let's differentiate ourselves, yes, from our competitors,
00:08but let's grow the pie for everyone, including our competitors.
00:11If everyone could be participating in our economy in a meaningful way,
00:16if everyone were to be building their wealth in a meaningful way,
00:20I think that is better for all, including the communities,
00:23including companies and businesses.
00:33Hi, and welcome to Tribe Talks, where we alternate in conversation
00:36between young changemakers and more established social entrepreneurs.
00:41My name's Victoria.
00:42I've recently joined the team here at Tribe,
00:44and outside of this, I also work in philanthropy.
00:47It's my pleasure today to introduce you all to Nancy Bonjes,
00:50who is head of community engagement at William Blatt.
00:53Thank you so much for coming on, and it's a pleasure to be talking to you today.
00:57Before we continue, a quick word from our sponsors.
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01:44To start off with, I'd love to hear a little more
01:46about your personal and professional background
01:48that led you to your work at sort of community engagement with William Blatt.
01:53Yes, of course.
01:55Well, it's hard for me to not talk about social impact
01:58without talking just about my personal background and identity.
02:02And so I'm the daughter of Korean immigrants
02:05who came to America with barely anything.
02:08A common story of that time for many immigrants
02:11where they came to America with barely any money,
02:15just only maybe some social connections,
02:17but a big dream to start a new life here in America for their families.
02:21And my parents were one couple
02:25that were able to achieve their American dream.
02:28We did not face perhaps some of the same systemic barriers
02:33that other communities have,
02:36but through their very, very hard work,
02:38they were able to provide a thriving pathway
02:42for myself and my older brother
02:44to access high-quality education,
02:46which really put us on a path
02:48to be able to achieve our own dreams,
02:52including what I'm living out today
02:54in my career in social impact.
02:56So I'd like to start off with that
02:57because I truly believe that background has anchored me
03:00in just a genuine passion for social impact
03:04and bridging people with opportunities.
03:07And that describes my whole career path.
03:09I started off in higher education
03:11as well as in the nonprofit sector.
03:14And then from there,
03:15did a brief stint in business development
03:18when I decided to start my career over in finance.
03:21And that was over 16 years ago.
03:24And it was in that financial services firm
03:27where I found that there was a social impact space
03:31within corporations.
03:33It can be often called corporate social responsibility,
03:37corporate social impact, or corporate philanthropy.
03:40And so when I saw this internal role open up,
03:43I decided to go for it.
03:44And sure enough, I got it.
03:46And that's when I became a community relations manager
03:49and was open now to a whole new world
03:53of corporate social impact.
03:54So that was close to about 15 years ago.
03:57I have been doing that work ever since
03:59and really came across this wonderful opportunity
04:02here at William Blair
04:03to lead all of our community engagement.
04:06It was an offer that I just couldn't say no to
04:09or let pass me by.
04:11And I've been doing this work here at William Blair
04:13for the past four years now.
04:15And I feel like I've been talking a long time,
04:17but I'm happy to go into a little bit more
04:20about what community engagement looks at,
04:22how it looks and comes to life here at William Blair.
04:24I've been doing this for now, just over four years.
04:27Well, amazing.
04:28And that actually leads me to my next question.
04:30I would love to hear a little more
04:31about what it looks like at William Blair.
04:34Yeah.
04:35And so corporate philanthropy
04:37and corporate social responsibility
04:40can look like so many different things.
04:42And I've had the privilege of experiencing it
04:45in different companies,
04:47from smaller firms to very large corporations
04:50and being part of a large team.
04:52And I would say traditionally,
04:54what it often looks like is that
04:56there is this mandate to be able to do
05:00social impact work, grant making,
05:03engaging with local nonprofit organizations
05:05that aligns with the company's brand,
05:08how they want to show up in the communities
05:10where their employees live and work,
05:12or perhaps where their business runs.
05:15And so I just want to start off by saying
05:17that it looks very different.
05:19And each company usually does an incredible job
05:22of doing their social impact work
05:24in a way that aligns, again, with their brand
05:26or perhaps their business strategy.
05:28Here at William Blair,
05:30one thing that's really unique
05:31is that we don't have a focus area
05:35that focuses on one area of a community need,
05:39for example, youth empowerment
05:40or education or K-12 education.
05:45Our focus area is really about our people,
05:48our employees.
05:49We truly believe that our people
05:51and our talent is what differentiates us as a firm
05:54and that our employees are our most important asset.
05:56So our focus area is really about deploying our people
05:59in the communities where they live and work.
06:02And so instead of one person or one team
06:05directing on behalf of the company,
06:07you know, philanthropic investments,
06:10what we do is we empower all of our colleagues here.
06:13And it's part of our mission.
06:14Our mission statement is embedded in there
06:17to say we empower our colleagues
06:18to deliver client success
06:20and engage in our communities.
06:22And so what that looks like day to day
06:24is that we work with our colleagues
06:25in their own giving
06:26when it comes to exploring,
06:28engaging with a nonprofit organization
06:30through volunteerism,
06:32but also through nonprofit board service.
06:34And so every day,
06:36my day is packed with speaking with colleagues,
06:38getting, finding ways to plug them in,
06:40speaking with nonprofit organizations,
06:42and being able to bridge
06:43and make those opportunities
06:44for our employees to meaningfully engage.
06:47Amazing.
06:48I think that's so cool.
06:49And it's something I've been really thinking about recently
06:51is actually whilst obviously people can give financially,
06:56there's also a really brilliant way
06:58to be able to give skill sets
07:00and time as well,
07:03where often perhaps in the nonprofit space,
07:06they're lacking a certain skill set
07:07or certain beneficiaries might be lacking
07:09certain areas of expertise.
07:11And it sounds like this sounds very similar
07:13to sort of what you are doing over at William Blau.
07:17Yes, absolutely.
07:19And so that's a perfect segue
07:22to one initiative
07:23that's under our community engagement
07:25called our Capital Collective Initiative.
07:27This is our skills-based initiative
07:30that leverages our employee skill set
07:32for the purpose of being able
07:34to increase wealth mobility
07:36for what we call first-gen wealth builders.
07:38So think of like first-gen college students
07:41who are approaching their first full-time jobs
07:45or those who have recently joined the workforce.
07:47There is a plethora
07:49of financial literacy content out there,
07:51but there's not a lot that focuses on
07:53through the lens of wealth building.
07:56And so we focus on that,
07:57impacting that group
07:58through our Capital Collective.
07:59And the other group that we hope to impact
08:02are emerging entrepreneurs.
08:04How can we, through our skill set,
08:07be able to increase access to capital
08:09and just accelerate them
08:11on the path towards success
08:12in their business ventures?
08:14We're well-known in terms of our expertise
08:17in not only asset management,
08:18but in our investment banking.
08:21And so we have a ton of wealth knowledge,
08:25if you will, here at the firm
08:26of people who can help with business plans
08:28and people that can help
08:29with their, you know,
08:31how to prepare to pitch to investors.
08:33And so we're hoping that we can leverage
08:35this amazing skill set here
08:37to, again, just accelerate wealth mobility
08:39for next-gen emerging entrepreneurs
08:43as well as first-gen wealth builders.
08:45No, that's really incredible.
08:46And I think such an important and cool way
08:50that you can really leverage the expertise
08:51that you have in-house.
08:53And as you said, you know,
08:54you're an asset management firm,
08:55finances, you know, your bread and butter
08:57and what you guys are really,
08:59really excellent at.
09:01So, and that kind of leads me
09:03to my next question
09:04of these first-gen wealth builders.
09:08Could you shed a bit of light
09:09on areas that they may have less experience
09:12in and the areas that,
09:13where you are really able
09:15to add value for them
09:17in terms of building that business?
09:19Yeah, happy to.
09:21And so this is another area
09:23where I tap into my identity.
09:26So I very much am,
09:28based on the story
09:28that I shared earlier,
09:30identify as a first-gen wealth builder.
09:32And so how we define that
09:34is in the similar way
09:35that there can be a first generation
09:36in a family of someone
09:38to attend college.
09:39There is a first generation
09:41of a wealth builder
09:42who will hopefully accumulate
09:43enough wealth
09:44to then pass on
09:45to the next generation.
09:46And just from my personal experience,
09:49as well as working
09:50with other first-gen wealth builders
09:52through our capital collective,
09:53something that I think
09:54a lot of people don't realize
09:56and is that,
09:58you know,
09:58not only in this wealth-building journey
10:00of establishing careers
10:02and building, you know,
10:04their own personal finance knowledge
10:06and accumulating
10:07your personal wealth,
10:08not only is there
10:10not an inheritance coming our way,
10:13but we often are the ones
10:16that are giving money
10:17to our parents
10:18or to other family members.
10:20And so it's almost twofold,
10:22this impact of like
10:23why our trajectory
10:24is that much more challenging
10:25and harder than others
10:27who have access
10:29to generational wealth
10:30is that there's not only
10:31an inheritance to expect,
10:33but we often are
10:34our parents' retirement plan.
10:35And so being able
10:37to have the knowledge
10:40to be on a strong
10:41wealth-building path
10:42is all the more important.
10:44And so when we think
10:45about working with first-gen,
10:46it's going beyond
10:48the financial literacy lessons,
10:51which are still important,
10:52foundational,
10:53but going beyond things
10:54like why it's important
10:55to understand credit,
10:56why it's important
10:57to have a checking account
10:58or a savings account,
11:00and really applying
11:01that wealth-building lens early.
11:03And so we incorporate things like,
11:05hey, this is how compound interest works
11:08and why it's so powerful
11:10to start investing early,
11:12even if it's small.
11:13And so we'll portray these forecasting models
11:18that show here's what it looks like
11:19if you started when you were 25
11:21versus here's what it looks like
11:22if you started investing at 35.
11:25So providing that visual
11:26is often so, so important.
11:28And there are some important things.
11:30Often we focus on just setting them
11:32on the right direction.
11:33And so learn about investing.
11:36There's ways to be active.
11:37There's ways to be passive
11:39if you don't like the idea
11:40of managing your own portfolio
11:42on a regular basis.
11:43But there's ways and tools out there
11:45to be able to do so efficiently.
11:47I can go on and on,
11:49but that's just an example
11:50of how it can come to life.
11:53No, I think that's really fascinating.
11:55And it's something
11:57in my own world of work
11:58we are often thinking about
12:00is first-gen versus next-gen wealth.
12:02And how do, for example,
12:04next-gen philanthropists
12:05operate differently
12:06to their parents
12:08or their grandparents
12:08who built the wealth themselves
12:10within the world of giving?
12:12So I would actually be
12:13really intrigued to see
12:15if you have any thoughts
12:15on these first-gen wealth builders
12:18and entrepreneurs
12:19when it comes to impact
12:20and philanthropy and giving back.
12:22You mentioned earlier
12:23about giving back
12:24to their families
12:25and their loved ones
12:26and being the retirement plan,
12:28as it were.
12:30Are there any other ways
12:31in which you see
12:32these first-gen wealth builders
12:34giving back differently
12:36to perhaps people
12:37who have inherited their wealth?
12:39Yeah, you know,
12:41there are amazing
12:43personal testimonies
12:46that we've been able
12:47to come across.
12:47I think where I see the impact
12:51is that I think just in general,
12:53the emerging generations
12:56just in general
12:57are very much impact-minded.
13:00So I think going beyond
13:02just whether they're first-gen
13:03or not,
13:03even the experience
13:05of the pandemic
13:06that the whole world
13:08went through,
13:09I do think that
13:10there's a greater appreciation
13:11that we are
13:12a lot more interconnected
13:14and reliant on our community
13:16than we realize.
13:18And the pandemic
13:18like woke up the whole world
13:20to see that, right?
13:21That like what we experience,
13:23that there are
13:23collective experiences
13:25and so that we are part
13:27of this greater community,
13:29whether we like it or not,
13:30that will be impacted
13:31in different ways.
13:32And so I think I recognize
13:34that in the younger generations
13:37than myself,
13:38I'm a lot older
13:39than I sound and I look,
13:40but I do recognize
13:41that that's a very big part
13:44and I just so appreciate
13:45that there's that recognition
13:46of and value
13:48that we are part
13:49of a greater community
13:50and just more connected
13:52to what's happening
13:53in the world around us.
13:55But that go on top
13:57of being able to identify
13:59that first-gen wealth
14:00building experience,
14:01you know,
14:02where I think the grit
14:05that it takes
14:06to be able to achieve
14:09our own visions,
14:10personal visions and dreams,
14:11whatever that ends up
14:12looking like
14:13without as much access
14:14perhaps as others around us,
14:17I think inherent in that
14:19is just as, again,
14:21a great appreciation
14:23for what it means
14:24to be able to have access
14:25to opportunities,
14:26to have access to resources.
14:27And so I see all around me
14:31amazing nonprofit organizations
14:33where on staff
14:34is someone who graduated
14:36from the program
14:37or is a past beneficiary
14:40of the services
14:41that were offered
14:41by the organization.
14:42And so I'm always thrilled
14:43to see when that happens.
14:45When I meet a staff member
14:46and they say,
14:46I actually participated
14:48in this program myself
14:4910 years ago,
14:50that's a powerful testament.
14:52I do see it in terms
14:54of my colleagues
14:55who identify
14:56as first-gen wealth builders.
14:58They are the ones
14:59who are often so eager
15:00to raise their hand
15:01and join
15:02nonprofit organizations.
15:04But I do agree with you
15:05that in general,
15:07whether people identify
15:08as first-gen or not,
15:09this whole next-gen piece,
15:11they want to do things
15:11differently
15:12from their parents.
15:14And I think part of that
15:15is probably to carve out
15:16their own personal identity
15:17and to tap into
15:19and make sure
15:21that they're recognizing
15:22and respecting
15:23their own personal passions.
15:26But I do agree
15:27that there's a sense of like,
15:28hey, we want to do
15:29something differently
15:30because we want something
15:31that's meaningful,
15:32purposeful,
15:33based on my lived experience.
15:35So I would say
15:36that's universal
15:36for both those
15:38who identify as first-gen
15:39and those who do not.
15:40No, of course.
15:42I have to agree with you
15:43as someone who identifies
15:44as part of that generation.
15:45I think it's
15:47definitely true
15:48and having met people
15:49from both sort of
15:50the next-gen
15:50and the first-gen,
15:51I think one sort of
15:52continuous thread
15:53throughout the whole
15:55collective, as it were,
15:57is that it is a lot more
15:58impact-focused
15:59in everything that we do,
16:00whether it be investing,
16:02building a business
16:02or charity work
16:05or non-profit work
16:05on the side.
16:07One thing,
16:08sort of circling back
16:09a little bit more
16:10to William Blair
16:11as a whole,
16:12which I would be really
16:13interested to understand
16:14a little bit more about
16:15was why is
16:16community engagement
16:17such a core value
16:19for the organisation
16:22and for businesses
16:23more generally
16:24that want to stay
16:25constructive
16:26and competitive,
16:27especially in this
16:29environment?
16:32That's a great question.
16:34You know,
16:34I would say
16:35there's a few reasons.
16:37The first,
16:37which is
16:38we genuinely care
16:39and I'm really proud
16:41to be part of a firm
16:42where there is
16:43this authentic,
16:44genuine desire
16:45to be a positive impact
16:47in our communities
16:49where we live
16:49and work.
16:50And so it's been
16:51something that
16:52has been embedded
16:53so deeply
16:54in our culture
16:55from the inception
16:55of our firm.
16:56So I would say
16:57throughout the history
16:58of our firm's leadership,
17:00there's always been
17:01very strong
17:02culture
17:04and almost
17:04an expectation
17:05that if you want
17:07to grow in your career
17:08here,
17:08it means like
17:10getting involved
17:10in the community.
17:12I'd like to share
17:13that,
17:14for example,
17:15our vice chairman,
17:15he was a former CEO
17:18of the company,
17:19two CEOs prior.
17:20He meets with me
17:22every month
17:22to help consult
17:24and advise me
17:25on our community
17:26engagement strategy.
17:27I've never heard
17:28of that before.
17:29I've never seen
17:30that before
17:30where someone
17:33so senior
17:35or just even
17:36someone who
17:36was involved
17:38at that level
17:38continues to be
17:39involved for that long.
17:41He also serves
17:42as president
17:42of our corporate
17:43foundation to this day.
17:45And just even today,
17:47I had a meeting
17:48with our community
17:49impact steering committee.
17:50This is an internal
17:52committee that
17:53represents business
17:54leaders across
17:55different locations
17:56around the world
17:57and different
17:58business units.
17:59And so I have
18:00wealth advisors,
18:01institutional sales
18:02colleagues,
18:04I have investment
18:04bankers on this
18:05committee dialing in
18:06from London,
18:08one had to dial
18:09in from
18:10Puerto Rico
18:11for an event
18:12that was there.
18:13And so we all
18:14dialed in
18:14and they're
18:15taking aside
18:15this time
18:16to meet
18:17with me
18:18and my team
18:19to discuss
18:19community engagement
18:20because we see
18:21it as truly
18:22something that's
18:23so important
18:24of who we are.
18:26And again,
18:27I shared earlier,
18:28it's part of my mission.
18:29It's just like
18:29so thoroughly
18:30embedded throughout
18:31our firm.
18:32I think it just
18:32speaks to how
18:33we differentiate
18:34ourselves,
18:34is that we want
18:35to be known
18:36as a firm
18:37where our people
18:38are exceptional
18:39people,
18:40both in work
18:41and outside of work.
18:42And that is
18:43truly authentic.
18:44And one little story
18:46that came out
18:47of my community
18:47impact steering
18:48committee is that
18:49one of my members
18:50who is in
18:52investment banking,
18:53you know,
18:53she's in a room
18:54sitting with
18:56a few others
18:57and someone just
18:58asked the question
18:58of like,
18:59hey,
18:59I'm noticing
19:00that companies
19:01and different firms
19:02are pulling back
19:03when it comes
19:03to their
19:04philanthropy
19:05or community
19:05engagement work.
19:06Like,
19:06is that happening?
19:07How are you
19:07dealing with that?
19:08And another person
19:10who was representing
19:11another firm
19:12said,
19:12yes,
19:12I'm seeing that
19:13happen in my firm
19:14too.
19:14And my colleague,
19:17she was so proud
19:18to be able to say
19:19in that moment,
19:19actually,
19:20no,
19:20we're not stopping.
19:22We're not pulling
19:22back in any way.
19:24We're very much
19:25still engaged.
19:26We are still,
19:26you know,
19:27pushing the gas
19:29on the pedal
19:30on the gas
19:31to keep on
19:31going forward
19:32when it comes
19:32to engaging
19:33in our communities.
19:34Our colleagues
19:35are getting out
19:35there,
19:36giving,
19:36volunteering.
19:37And so I'm
19:38really proud
19:38that we're
19:40part of a firm
19:40that truly
19:41authentically
19:42wants to make
19:42a difference
19:43and that
19:45will not be
19:45going anywhere
19:46forever
19:48because it's
19:48just so deeply
19:49embedded in who
19:50we are.
19:51No,
19:52that's so
19:53lovely to hear,
19:56especially,
19:57yeah,
19:57at the moment.
19:58I was actually
19:59at a talk
20:00the other day
20:01where someone,
20:02the chief
20:03sustainability officer
20:04from Coach
20:04was there
20:05and was talking
20:05about how
20:06one of their
20:07sort of most
20:08popular lines
20:09at the moment
20:10is they make
20:11handbags
20:11from all their
20:12recycled materials
20:13and this focus
20:14on sustainability
20:15within their
20:15business model
20:18and actually
20:19how with a new
20:21generation that
20:22is much more
20:22focused on impact,
20:25embedding
20:26sustainability
20:26and community
20:27engagement
20:27and social
20:28impact into
20:29your business
20:29model is
20:30really important
20:30to attract
20:31customers or
20:31to attract
20:32clients.
20:33And so
20:34my thesis,
20:35I imagine,
20:36at William Blair,
20:38it's most likely
20:39also a really
20:41key driver of
20:41clients towards
20:42you and that
20:43you do have
20:43this community
20:44engagement angle
20:45and something
20:46that you're
20:46championing so
20:47much by the
20:48sounds of it.
20:49So I would be
20:50really curious to
20:51hear your take
20:51on that.
20:52Yes,
20:53absolutely.
20:53I think,
20:54you know,
20:55when there is
20:57there's the
20:57brand building
20:58aspect in terms
20:59of being able
21:00to extend
21:02a company's
21:03brand as well
21:04as reinforce
21:05the values
21:06that the
21:07company stands
21:08for.
21:08So absolutely
21:09there is
21:10this draw of
21:12like,
21:12hey,
21:12we want to
21:13make sure
21:13that when
21:14people see
21:15our company
21:15name and
21:16see a look
21:18at our impact
21:18and how we're
21:19being intentional
21:20in our business
21:21model,
21:22in our supply
21:23chain,
21:23in how we
21:24do our work,
21:25that it is
21:26going to be
21:26a draw for
21:28and a
21:29differentiator
21:29from competitors.
21:31So I absolutely
21:32think that is
21:33true and we've
21:34seen that in
21:35different ways
21:35and different
21:36examples.
21:37I would say
21:37for us,
21:38even revisiting
21:39the Capital
21:39Collective,
21:41one way to
21:42think about
21:42this,
21:43and this goes
21:43for any
21:44financial services
21:45firm,
21:45is that when
21:46we can have
21:47a more
21:47inclusive economy
21:50imagine what
21:52our world
21:52would be
21:52if everyone
21:53in our
21:54communities
21:55throughout our
21:56country,
21:57throughout the
21:57world,
21:58was participating
21:59in the
21:59economy,
22:00just how
22:02much greater
22:03and bigger
22:03the economy
22:04would be.
22:04And so even
22:06when we think
22:06about the
22:07Capital
22:07Collective
22:07being able
22:08to accelerate
22:09wealth
22:09mobility,
22:10we would
22:11love to
22:11be able
22:12to see
22:13a more
22:14inclusive
22:14economy
22:15because that
22:15will also
22:16increase
22:17the client
22:17base.
22:17For all
22:18financial
22:19services
22:19firms.
22:20And so
22:21having a
22:21more
22:22inclusive
22:22economy,
22:23being very
22:24intentional
22:25with engaging
22:26with communities,
22:28it's not a
22:30zero-sum game
22:31where there's a
22:31set pie.
22:32It's like,
22:32let's grow
22:32the pie.
22:33Let's
22:34grow the
22:34pie.
22:34Let's
22:35differentiate
22:35ourselves,
22:36yes,
22:36from our
22:36competitors,
22:37but let's
22:38grow the
22:38pie for
22:39everyone,
22:39including
22:40our
22:40competitors.
22:40If everyone
22:41could be
22:41participating
22:42in our
22:43economy
22:43in a
22:43meaningful
22:44way,
22:44if everyone
22:45were to be
22:45building their
22:46wealth,
22:46in a
22:48meaningful
22:48way,
22:49I think
22:49that is
22:49better for
22:50all,
22:50including
22:51the
22:51communities,
22:52including
22:52companies and
22:53businesses.
22:54Absolutely.
22:54I absolutely
22:55agree with you
22:56on that and
22:57for everyone
22:58to build
22:59their wealth.
23:03One thing
23:04that I know
23:05you've mentioned
23:05to us a little
23:06bit before
23:07in some prep
23:09calls that I
23:10was really
23:11intrigued to
23:11hear you expand
23:13your thoughts
23:13further on is
23:14how being a
23:15non-profit is
23:16just an IRS
23:17status and
23:17not an
23:18operating model.
23:19I would love
23:20for you to
23:21explain a little
23:22bit more about
23:23your thinking
23:23behind this
23:24statement and
23:25why it's so
23:26important.
23:28Yes.
23:29I cannot take
23:30credit for that.
23:31I do have to
23:32give a shout
23:33out to Liz
23:34Thompson,
23:34who leads a
23:35cafe group.
23:38I heard it
23:40at a
23:41conference
23:41that her
23:42organization
23:43put together,
23:43but this was
23:44an important
23:45discussion point
23:45for everyone
23:46in the room
23:46and who was
23:47in the room
23:48were a lot
23:48of social
23:49impact leaders
23:49including
23:50non-profit
23:51leaders.
23:53This notion
23:54that being
23:56a 501c3
23:57non-profit
23:58status,
23:59that's just
23:59an IRS
23:59status.
24:00It is not
24:00an operating
24:01model.
24:02It should
24:02not be
24:03dictating
24:04how
24:05organizations
24:06should run.
24:07I think
24:07there is
24:08this
24:08outdated
24:09mentality
24:10that the
24:11moment
24:11something
24:12is labeled
24:12as a
24:13non-profit
24:15that there
24:16shouldn't
24:17be huge
24:18costs
24:19around
24:19overhead
24:21that
24:22maybe
24:22philanthropists
24:23including
24:24corporate
24:24philanthropy
24:25or other
24:26grant makers
24:26think about
24:27we don't
24:28want to
24:29give to
24:29overhead
24:30because
24:30it's
24:30a
24:31non-profit.
24:31We want
24:33our dollars
24:33to only
24:34go towards
24:34direct
24:35program
24:35costs.
24:36I think
24:37that's
24:37not only
24:39outdated
24:40but actually
24:40quite harmful
24:41because
24:41in what
24:42organization
24:42whether
24:43they're
24:44non-profit
24:44or not
24:45in what
24:45organization
24:46will it
24:47remain a
24:48healthy
24:48organization
24:49running
24:49amazing
24:50programs
24:51or producing
24:52amazing
24:52products
24:53and services
24:53if you're
24:54not investing
24:55in the
24:55organization
24:56itself
24:56which includes
24:57its people
24:57which includes
24:58infrastructure
24:59the ability
25:00to be able
25:01to scale
25:01and so
25:04I think
25:05there's
25:05often
25:06this
25:06almost
25:07bias
25:08that
25:08comes
25:09into
25:09play
25:09whenever
25:09someone
25:10hears
25:10oh
25:11this
25:11is
25:11a
25:11non-profit
25:12organization
25:12that I'm
25:13going to
25:13assume
25:14that
25:14you don't
25:16need that
25:16many
25:16resources
25:17that you
25:18only do
25:19charitable
25:19work
25:20and don't
25:20invest in
25:21your own
25:21people
25:21and whatnot
25:22so I think
25:23it's really
25:24important
25:24that we
25:24move away
25:25from that
25:26and truly
25:27see
25:27look
25:27every organization
25:29has impact
25:30even those
25:30that are
25:31for profit
25:31we're all
25:33making an
25:33impact
25:34the question
25:34is what
25:35is your
25:35impact
25:36every organization
25:38is providing
25:39some kind
25:39of product
25:40or service
25:41including
25:41non-profit
25:42organizations
25:43they are
25:44just more
25:44impact
25:45centered
25:45and impact
25:46driven
25:46but they
25:47are trying
25:47to provide
25:48perhaps a
25:48direct service
25:49to the
25:49communities
25:50where they
25:51serve
25:52there is
25:52always
25:53something
25:53that is
25:53a value
25:54that is
25:55being created
25:56and delivered
25:56through these
25:57organizations
25:58just because
25:59they're a
25:59non-profit
26:00we shouldn't
26:02assume that
26:02they should
26:03operate
26:03differently
26:04or operate
26:05on fewer
26:06resources
26:06I think
26:07that's an
26:08antiquated
26:08view that
26:09we need
26:09to move
26:09away from
26:10I agree
26:12and within
26:13my world
26:14of philanthropy
26:15and something
26:15I'm sure
26:15you're familiar
26:16with as well
26:16it speaks
26:17to the
26:18importance
26:18of grants
26:20without too
26:21many strings
26:21attached to
26:22it
26:22and where
26:24you can
26:24give
26:25a trust
26:26based
26:26philanthropy
26:26model
26:27which
26:28I know
26:28the likes
26:29of McKinsey
26:29Scott
26:29have been
26:30peddling
26:31and has
26:31been a real
26:33changemaker
26:33in this
26:34space
26:36so yeah
26:37thank you so
26:38much for
26:38drawing attention
26:39to that
26:39because I'm
26:39a big believer
26:41in that the
26:42impact space
26:42could look
26:42very differently
26:43if salaries
26:45look different
26:45and the
26:46infrastructure
26:46look different
26:47because I
26:47think it
26:47would attract
26:48talent and
26:49retain talent
26:49in a way
26:50that I think
26:51at the moment
26:51or traditionally
26:53it has
26:53struggled
26:54to do
26:55so
26:56yeah
26:57absolutely
26:57and that's
26:58and trust
26:58based
26:59philanthropy
26:59is something
27:00that
27:01that the
27:03general
27:04philanthropic
27:04world
27:05is still
27:06I would say
27:07catching on
27:07to
27:09and
27:10and so
27:10for those
27:11in the audience
27:11who are not
27:12sure like
27:12what does
27:12that mean
27:13it means
27:13like you
27:14know
27:14let's
27:15recognize
27:15that there
27:16is a
27:16power dynamic
27:17between funders
27:18and grantees
27:20and so
27:21what we
27:22often see
27:23happen
27:23is that
27:24grant
27:24recipients
27:24are asked
27:25to do
27:27onerous
27:28applications
27:29as well
27:29as onerous
27:30impact
27:31reports
27:32that are
27:33specific
27:33to that
27:34one grantor
27:34as if
27:35they were
27:35the only
27:36grantor
27:37not really
27:38there's
27:38other like
27:39partners
27:39that this
27:40organization
27:40has
27:42you know
27:42but trust
27:43based
27:43saying hey
27:43I trust
27:44you as
27:45an organization
27:45that you
27:46are close
27:47closest to
27:47your work
27:48and you
27:48best
27:48understand
27:49the problems
27:50that you're
27:50trying to
27:51solve for
27:51and you
27:52best
27:52understand
27:52the communities
27:53that you're
27:53trying to
27:54serve
27:54and so
27:55I will
27:56trust you
27:56to do
27:57the work
27:58and so
27:59removing
27:59some of
28:00these
28:00kind of
28:02barriers
28:02or even
28:03expectations
28:04such as
28:05dictating
28:06how money
28:07should be
28:07spent
28:08you know
28:09if the
28:09organization
28:09is the
28:09one that's
28:10truly running
28:10the program
28:11they will
28:12be able
28:13to see
28:13and respond
28:14quickly
28:14and know
28:15how best
28:16to allocate
28:16resources
28:17and so
28:17giving to
28:18general
28:18operating
28:19is usually
28:21highly
28:21recommended
28:22which is
28:22what we
28:22do at
28:23William Blair
28:23everything
28:24we do
28:25is through
28:25match
28:26programs
28:27and when
28:28we have
28:28people who
28:28serve on
28:29boards
28:29we offer
28:30a very
28:30generous
28:30board
28:31match
28:31program
28:31and it's
28:32not
28:32restricted
28:33to be
28:35used in
28:35a particular
28:36way
28:36it is a
28:36general
28:37operating
28:37grant
28:38that we
28:38give
28:38in
28:39recognition
28:40of our
28:40colleagues
28:41who are
28:41serving on
28:42the board
28:42as well
28:42as in
28:42recognition
28:43of the
28:43organization's
28:44work
28:45often
28:46also
28:46you know
28:47the recommendation
28:47to give
28:48consider year
28:49over year
28:50support
28:50instead of
28:51you know
28:51just one
28:52time
28:52gifts
28:53but truly
28:54approach it
28:54as a
28:55partnership
28:55and as
28:56a relationship
28:56that is
28:57based on
28:57this trust
28:58to consider
28:59giving
29:00multi-year
29:00grants
29:01and instead
29:03of having
29:03like an
29:03application
29:04that's done
29:04every single
29:05year
29:06every single
29:06time
29:07so I'm
29:07very proud
29:07in my
29:08career
29:08to champion
29:09that
29:10in different
29:11places
29:11that I've
29:12worked
29:12and to
29:12really uncover
29:13what that
29:14should look
29:15like today
29:15and I'm
29:16sure there's
29:16even more
29:17emerging thought
29:18today of
29:19what trust
29:19based philanthropy
29:20should look
29:21like today
29:21and I'm
29:22hoping that
29:23more voices
29:23can be
29:24given to
29:25more attention
29:27can be given
29:27to the
29:28non-profit
29:28sector
29:29and those
29:30voices that
29:30can speak
29:31to why
29:31this trust
29:32based philanthropy
29:33is so so
29:33important
29:34because just
29:35like any
29:36other organization
29:37we have to
29:37trust the
29:38leadership
29:39we have to
29:39trust the
29:41strategy
29:41and invest
29:42in the
29:43infrastructure
29:43and the
29:44strategy
29:44and let
29:45those who
29:46are close
29:46to the
29:47work
29:47and understand
29:47the work
29:48to execute
29:49and to
29:50take the
29:51lead in
29:52wherever that
29:53organization
29:53should go
29:54well I
29:55100% agree
29:57with you
29:57there so
29:58thank you so
29:59much for
29:59sort of
29:59stressing that
30:00issue because
30:01I think it's
30:01something that
30:02the conversation
30:03in this sort
30:04of space
30:04really does
30:05need to
30:05sort of
30:05move forward
30:06with this
30:07and really
30:08start I
30:09my personal
30:10belief is to
30:10start actioning
30:11some of these
30:12things and
30:13just thank
30:13you so much
30:13for your
30:14time it's
30:15incredibly
30:15inspiring to
30:16hear about
30:16what you're
30:16doing at
30:18William Blair
30:18and really
30:19incorporating it
30:21into the
30:21work and
30:22everything it
30:23sounds like
30:23that you're
30:23doing so
30:24so thank
30:25you for
30:25that and
30:26yeah thank
30:27you so much
30:27for your
30:27time oh my
30:28gosh it was
30:29truly a
30:30pleasure thank
30:31you for
30:32giving me the
30:33time and
30:34just extending
30:34to me this
30:35this platform
30:35and just thank
30:36you your
30:37organization for
30:38incredible that
30:38you work that
30:39you are doing
30:40to invest in the
30:41next generation of
30:42social entrepreneurs
30:43and so I just
30:44appreciate you and
30:45your community so
30:46much
30:48tribe talk is a
30:50streamer studio
30:50production try it
30:52free at
30:53str e amr
30:55dot nyc
30:56executive producer
30:59david walters
31:00videography and
31:02editing by david
31:03walters graphic
31:05design by
31:06tristan breznan
31:07original music by
31:09benjamin sendmanah
31:11hosted by
31:12victoria goddard
31:14tribe taking
31:16root today to
31:17advance tomorrow
31:18you
31:19you
31:25you
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