Page 1




LIST OF SUPPORTERS Current investments Blue Sky Development & Regeneration Camfed International Education Endowment Foundation Fairtrade Foundation Family Links I CAN IntoUniversity Kainos Community Prison Radio Association Prisoners’ Education Trust Resurgo Trust Ripplez Shannon Trust Street League Teens and Toddlers Working Chance Past investments Acumen Development Trust beat FRC Group Keyfund Federation Leap Confronting Conflict Naz Project London (NPL) Speaking Up St Giles Trust Impetus Chief Executive and Trustees Daniela Barone Soares, Chief Executive Louis G Elson, Chairman Nat Sloane, Co-founder and Vice Chair Marc Boughton Stephen Dawson OBE, Co-founder Craig Dearden-Phillips MBE Amelia Fitzalan Howard Andy Hinton Stephen Lambert (resigned December 2011) Ian Meakins Chris Underhill MBE Donors who have given more than £10,000 Corporate Donors Apax Foundation Barclays BVCA Campbell Lutyens CVC Capital Partners Capstone Foster Care Deutsche Bank Goldman Sachs Internatinal Graphite Capital HgCapital ISIS Equity Partners LLP KPMG LLP Lloyds TSB Development Capital Warburg Pincus William Blair & Company Wolseley plc

Individual donors Nick Archer Ian Armitage Edward & Amanda Astle Jonathan Baker Adrian Beecroft Marc & Siobhan Boughton Jennifer & Richard Bowley Janet Brooks Adrian Carey Sir Ronald & Lady Cohen Jeremy Coller Guy Dawson Stephen & Gitte Dawson Louis G Elson John Fritz Alastair Gibbons David Gregson Guy & Julia Hands Andy Hinton Nic & Jennifer Humphries Frances Jacob Robert Jenkins Daan Knottenbelt Stephen Lambert Ken Landsberg John Leach David Lewin & Sue Webber Chris & Clare Matthias Ruth McIntosh Ian & Serrie Meakins Doug & Audrey Miller Jon Moulton Hugh Lenon Richard Munton Frank Neale Tim & Jenny Raffle Kevin Reynolds Ryan Robson Maurits Schouten Joseph Schull & Anna Yang Andrew Sibbald Nat & Rebecca Sloane James Stewart Mark & Karen Storey Tom Sweet-Escott Charlie Troup Steve & Heather Tudge David Wansbrough Michael Webber Anonymous well wisher Anonymous Grantmaking trusts, foundations and government Andrews Charitable Trust Cabinet Office Charities Aid Foundation City Bridge Trust City Parochial Foundation Coller Foundation Esmée Fairbairn Foundation ExPat Foundation Fidelity Four Acre Trust

GLC Charitable Trust J Paul Getty Jnr Charitable Trust Lindenleaf Charitable Trust Lloyds TSB Foundation Man Charitable Trust Nesta Private Equity Foundation Stone Family Foundation The Gatsby Foundation The Henry Smith Charity The Indigo Trust The Monument Trust The Rank Foundation The Schroder Foundation The Sutton Trust The Trust for Education Tuixen Foundation Watson Foundation Key pro bono corporate supporters Accenture plc Bain & Company Barclays BBC BearingPoint Benjamin Ball Associates Champollion CognoLink CVC Capital Partners David Butter Consulting Debevoise & Plimpton LLP Dentsu Inc. Deutsche Bank AG Directorbank Eden McCallum Egon Zehnder Equistone Partners Europe Eversheds Field Fisher Waterhouse LLP First100 Freshfields Bruckhaus Deringer LLP FTI Consulting Goldman Sachs International ICAEW Corporate Finance Faculty Information Technologists’ Company Institute for Turnaround ISIS Equity Partners LLP J.P. Morgan Korn/Ferry Whitehead Mann KPMG LLP Linklaters Macfarlanes LLP Merryck & Co MphasiS OC&C Strategy Consultants O’Melveny & Myers LLP Other Creative Ltd PA Consulting Group Palamon Capital Partners PMC Treasury Precise Media PricewaterhouseCoopers LLP Randall’s Parliamentary Service Reed Smith


Royal Bank of Scotland Silverhawk Partners SJ Berwin LLP Studio Associato per la Società Digitale Studio Lambert The Brightside Trust Warburg Pincus Worshipful Company of Management Consultants Impetus gratefully acknowledges the generous donation of time from the more than 150 individual experts who have helped to build the capacity of our charities by donating their skills and expertise. Advisory Council members Ian Armitage David Carrington Jamie Cooper-Hohn Dan Corry Martin Dickson John Elkington Dame Amelia Fawcett, DBE Alastair Gibbons Grant Gordon Michael Green Sir Tony Hawkhead Christine Hodgson Nic Humphries Dianne Jeffrey CBE DL Josh Lerner Ian Meakins Henrique de Campos Meirelles Chris Outram Elizabeth Riker Ryan Robson Julian Salisbury Joseph Schull Finlay T K Scott Andrew Sibbald Anne Wade Richard Wilson Patrick Younge

Introduction Letter from the Chief Executive Foreword by Geoff Mulgan

2 4

About Impetus Why we exist 2011/12 portfolio performance Investment summary A decade of excellence Why fund Impetus?

6 8 10 12 14

Portfolio Youth and Social Opportunity Initiative Camfed International Fairtrade Foundation FRC Group IntoUniversity Resurgo Trust Street League Teens and Toddlers

16 18 19 20 21 22 23 24

Reducing Reoffending Initiative Blue Sky Development & Regeneration Kainos Community Prison Radio Association Prisoners’ Education Trust Shannon Trust Working Chance

26 28 29 30 31 32 33

Early Years Initiative Family Links I CAN Ripplez

34 36 37 38

Education Endowment Foundation


Impact Stories Lloyd’s story Francisco’s story Sarah-Jayne’s story

Annual Accounts

MEET MAREK* *Marek has had many troubles in his life, including being a victim of abuse and committing crimes. At 22, after many months

42 44 46

without a job, he was depressed


encountered a Resurgo Trust

and demotivated. This downward spiral seemed irreversible. He coach at a job centre. She gave him something he didn’t have before: the hope that his situation could change. Within weeks of completing the course,

Scan this code to visit the Impetus website and learn more about our work.

he had two jobs, one with Tesco and another with Shoezone. It seems his newly found customer service skills and self-belief have set him on his path up and out of disadvantage.

Section 1


DEAR FRIENDS I was inspired recently to hear Harvard Business School professor Rosabeth Moss Kanter – expert in strategy, innovation and leadership – call for greater courage from leaders in all sectors. She said, “What you don’t do can hurt you,” and that “Courage makes change possible. Intellectual courage is necessary to challenge conventional wisdom and imagine new possibilities. Leaders must refuse to accept limits or stop at industry boundaries.” The same thing struck me... ...when I was back at HBS earlier

There is much to be done now if

We delivered over £5 million of

this year, discussing with global

social investment is going to achieve

value to our portfolio organisations,

leaders in the social investing space

its potential. Impetus’s model of

allowing them to help over 485,000

the need for us to be bold and brave

building the infrastructure (people,

of the UK’s most disadvantaged

– to take risks and “fail forward”

processes and organisation) and

people. This includes:

if necessary – as we collectively

then scaling up the impact of great

contribute to the exciting, new social

social organisations is a crucial pre-

investment marketplace.

cursor of social investment.

With that in mind, we at Impetus are

Venture philanthropy gives social

par with their better-off peers,

Our close ties with three government

Big thanks to our donors, pro bono

now looking to our second decade

innovators the money, skills and

increasing manyfold their

departments provide ongoing

experts, corporate partners, advisory

– crafting bold, ambitious plans for

support they need to crack some of

chances of success in life

opportunities to share our experience of

council and trustees, without whom we

the next ten years. More on this in

our most intractable problems – like

• getting nearly 1,000 talented

successful initiatives across Whitehall. It

would not have been able to achieve the

coming months.

narrowing the school-readiness gap,

but disadvantaged students on

was a special pleasure to introduce the

massive impact we have had this year. We

or cutting repeat offending. And it

• supporting over 16,000 vulnerable parents and children, so that these children start school on

their way to higher education

Rt. Hon. Iain Duncan Smith MP to our

look forward to partnering with you in our

Those of us on the cutting edge of

has the potential to transform public

– and onto the social mobility

Advisory Council, to explore ways in

second decade, to turn around even

social innovation need to ensure

services by taking the most effective

employment ladder or into

which the private sector could do more to

more lives.

that, together with creating new

solutions to scale.

further job-focused training

improve social mobility in the UK. Through

• getting a prison’s worth of ex-

our new Family Nurse Partnership Central

financial instruments, we also build a pipeline of charities and social

In 2011/12, Impetus achieved more

offenders into jobs, reducing by

Unit activity, we are shaping a programme

enterprises ready to take them on.

than ever before, and our portfolio

up to 50% the likelihood that they

of pre- and post-natal care across the

significantly outperformed the

will reoffend.

UK. We continue to share our knowledge

It’s not there yet. In our YouGov

sector as a whole. We are delighted

survey of charity CEOs, 70% said

that on average our investees have

We are making a difference beyond

grantmakers and opinion formers. And

they needed an income generation

increased the number of people

our portfolio, too. We have worked

we are working with Ashoka and Ben &

strategy and 65% said they needed a

helped by 39% a year, despite the

closely with Graham Allen MP

Jerry’s to identify the next generation of

strategic business plan.

current economic environment!

on the development of the Early

social entrepreneurs here in the UK.

(Read more about our portfolio

Intervention Foundation. We are

results on page 8.)

advising Big Society Capital on how

of impact investing with leading

to develop a strong and sustainable social investment marketplace.

Daniela Barone Soares

“In philanthropy as well as business, money alone can only do so much; it is money combined with skills and experience that achieve real impact. Impetus Trust is leading the way in creating lasting change through this strategic combination.” Sir Ronald Cohen, Impetus supporter


Impact Report 2011/12

Impact Report 2011/12


Section Introduction 1

FOREWORD Nesta Chief Executive Geoff Mulgan shares his thoughts on how the best charities and social enterprises operate at a fraction of the scale really needed, and how Impetus is contributing to real systemic change.

By Geoff Mulgan

I’m delighted that Nesta has been able to support Impetus, as part of a broader programme of support for social venture

Even the best charities and social enterprise operate at a fraction of the scale we really need.

intermediaries. We’ve seen the field grow in confidence and competence, and now benefit from the very substantial arrival of investment from Big Society Capital. Inspired by organisations like Impetus we’ve extended our own investment team from commercial early stage investment into impact investment.

These are exciting times for anyone

But with our own transition in

working on the boundaries of

2012 from being a public sector

social action and investment. After

endowment to becoming a

many years of promise a new field

charitable foundation, we’ve also

is taking shape, with significant

asked what more needs to be

flows of new capital seeking a

done, at a time when many social

combination of commercial returns

needs seem to be intensifying and

and social impact. Governments

governments are less willing or able

are beginning to recognise that they

to address them.

“Impetus has been a pioneer of this new field of socially engaged investment, and all involved in it should take pride in what has been achieved.”

charities, social enterprises and

that score well by many measures,

of the organisations it has backed

public services simply don’t use the

but have no discernible effect on

have continued to grow and flourish

evidence that is already available.

population-level numbers. But we

through a difficult period, touching

I don’t pretend this is easy, any more

all aspire to do more. Systemic

many lives for the better. But just as

than it’s easy to live our own lives in

change of the kind that’s so badly

the more you know, the more you

the light of evidence about diet

needed in fields as varied as

realise you don’t know, the more you

or exercise.

criminal justice and ageing nearly

succeed, the more you see just how

always involves a combination of

much more could be achieved. Only

We’d all love to able to direct all our

changes: changes to public policy,

a tiny fraction – well under 1% – of

funding to proven models (just as

funding, regulation, as well as

the new wealth generated in London

commercial investors would love to

technologies and business models.

and the UK, or of the bonuses

be able to find sure-fire successes).

Much of the energy also comes

announced each year – is being put

But in most fields evidence is scarce,

from social movements – as we’ve

into charity or social investment.

messy and even contradictory. That’s

seen in waste and disability – with

And even the best charities and

not an argument for giving up – but

government and business following

social enterprises operate at a

demonstrable results. But it’s also

for becoming both more rigorous

far behind. This kind of systemic

fraction of the scale we really need.

this new field of socially engaged

a moral imperative – that anyone

and more sophisticated. In this

change isn’t easy to plan. But I’m

investment, and all involved in it

with power and resources should

respect the Education Endowment

convinced that far more could be

We certainly need to maintain focus

should take pride in what has been

be concerned to know their impact.

Foundation has quickly become a

done to align actions, and to

and discipline to help existing

achieved. Its portfolio of charities

That’s why this year we launched

great champion, extending some of

help investors, managers,

charities and social enterprises

and social enterprises is thriving,

the Alliance for Useful evidence,

the Impetus approach to a crucial

campaigners and others push in the

to be resilient through what may

thanks to a judicious combination

alongside the ESRC and BIG, to raise

part of public service.

same direction.

be a turbulent period. But we also

of focused support and attention to

standards both in the generation

doing better what they already

of evidence and in its use. Too

A second challenge is if anything

Impetus has been one of the

constantly ask whether the scale

many expensive evaluations simply

even harder: how to move from

pioneers during an unusually

of our solutions is adequate to the

aren’t very useful. And too many

good projects and ventures to truly

creative period that has pushed the

scale of the problems we face.

systemic change. It’s not so hard

UK to the forefront of both social

to create islands of good practice

investment and philanthropy. Many

need to behave more like investors – investing now to prevent future

Part of our answer must be to work

harms. And investors are beginning

harder on using evidence – so that

to recognise that they need to be

money really does back the best

less blind to the human and

solutions. This is partly a pragmatic

long-term effects of their action.

necessity: governments with less cash will be more concerned to buy

Impetus has been a pioneer of

do well.


Impact Report 2011/12

need to raise our ambition – and

Impact Report 2011/12


About Impetus




Mark is born into disadvantage

1. Hands-on management support

His mother went through the care system, has no qualifications and is on benefits. His father has a criminal record and is unemployed

Age 30 Mark is released from prison. He can’t get a job and starts claiming benefits. He has a child


from an Impetus investment executive Amelia Sussman Investment Executive, Impetus

• • • •

Oversees investment from start to finish Manages provision of funding and specialist expertise Sources co-investment partners Monitors progress of investee against targets

Age 6 Mark is added to the child protection register

Age 20 Mark has intermittent, short-term prison sentences. He lives in poverty while not in prison

Age 11 Mark has difficulties transferring to secondary school and begins to truant

Age 16 Mark leaves school with no qualifications

Age 18 Mark can’t get a job and starts committing crimes

2. Funding

3. Expertise

from organisations and individuals

from highly skilled individuals and companies

Chris Mathias Co-founder, Arbor Ventures, Impetus donor

Pedro Sanches Associate Partner, OC&C Strategy Consultants

Innovative charity: ambitious to scale up


Rachel Carr Chief Executive, IntoUniversity

Blue Sky Development & Regeneration Employs and trains ex-offenders

Early Years Initiative Supports charities working with children aged 0-5 and their parents

Teens and Toddlers Inspires young people to get the skills, qualifications and self belief needed to succeed in education and life

IntoUniversity Supports disadvantaged young people to reach university 6

Impact Report 2011/12

Shannon Trust Mentors prisoners to improve their reading skills

AVERAGE ANNUAL AND THE RESULT ISINCOME GROWTH OF Street League Provides education and training to disadvantaged young people

Resurgo Trust Helps unemployed young people into work Impact report _ 30



Impact Report 2011/12


About Impetus





Growth in number of people helped since inception *







188,702 81,611 30,443 21,240 17,788 2003-2004




Working Chance


struggling and seeing their income decrease during an unprecedented time of economic uncertainty and a funding squeeze. It is against this bleak backdrop that our portfolio charities have also achieved solid growth in income, with an average annual growth rate of 19%. The graphs on the facing page track the growth of our portfolio, and show enduring positive results for 2011/12. But most importantly our work is about people. The charities and social enterprises we have invested in since the launch of Impetus a decade ago

Joe Saxton, Driver of Ideas and Founder, nfpSynergy

FRC, Kainos Blue Sky, Teens and Toddlers Fairtrade, Street League Camfed, IntoUniversity Keyfund Federation , NPL Speaking Up, St Giles, beat


£ 32.03m

At inception

To date



Growth in people helped across active portfolio **

since last year. This result is impressive at times when many charities are

“I don’t think I’ve ever seen an organisation that works as hard at analysing and quantifying its impact.”

PET, PRA, Shannon, Resurgo Growth in income across active portfolio **

our portfolio organisations is 39%, which has increased by almost a third


£ 52.05m

Ripplez, I CAN, Family Links

The average compound annual growth rate (CAGR) in people helped of



At inception

To date

are now helping over 485,000 people a year, enabling them to access the education, skills and jobs they need to break out of poverty once and for all. *Charts rebased to 100 at year prior to investment in order to depict actual growth rates across the portfolio. Total values shown are absolute. The graduated charities’ performance is frozen at two years post exit from the portfolio – eg, Speaking Up and St Giles Trust’s performance frozen as at 2009-10. **Charts rebased to 100 at year prior to investment in order to depict actual growth rates across the portfolio. Total values shown are absolute. The first column “At inception” on each chart represents data at the point Impetus started investing. Given that our involvement in each charity started at different times, it does not represent data in any one year. Active portfolio includes investments active through 2011-12 – ie, Camfed, IntoUniversity, Fairtrade, Street League, Blue Sky, Teens and Toddlers, FRC Group, Kainos, Prison Radio Association (PRA), Prisoners’ Education Trust (PET), Shannon Trust, Resurgo, I CAN, Ripplez, Family Links; excludes graduated charities – ie, Speaking Up, St Giles Trust, beat, Leap, NPL and Keyfund Federation – and charities where the investment was made in the last quarter of the charity’s financial year 2011-12 – ie, Working Chance.


Impact Report 2011/12

Impact Report 2011/12


About Impetus



Blue Sky Development & Regeneration Kainos Community Prison Radio Association Shannon Trust

CUMULATIVE IMPETUS PACKAGE TO DATE (audited figures) Grant funding *

Working Chance

Pro bono services donated

Investment management value **

Total funding package received to date

Youth and Social Opportunity Initiative Camfed International





Fairtrade Foundation










Resurgo Trust





Street League





Teens and Toddlers





















Keyfund Federation





Leap Confronting Conflict





Naz Project London (NPL)





Speaking Up (VoiceAbility)





New investment - contractual agreement awaiting finalisation as of 30 June 2012 Graduated investments Acumen Development Trust beat FRC Group














Pro bono services donated

Investment management value **

Total funding package received to date

































Impetus for Reducing Reoffending Initiative

Prisoners’ Education Trust


Grant funding*












New investment - contractual agreement awaiting finalisation as of 30 June 2012



















TOTAL INVESTMENT ACROSS ALL FUNDS TO DATE (excluding amounts approved but not yet paid)



Grant funding

Investment management value


Pro bono services donated

* This includes grants from Impetus, partnership investment and additional funds raised. ** This an estimate of the value of time spent by the Impetus investment team in providing hands-on management support.


Impact Report 2011/12

Impact Report 2011/12



APRIL The Education Endowment Foundation is launched in partnership with The Sutton Trust

“I was searching out an organisation that would link business skills with knowledge and sensitivity toward the social sector, and it surprised me that there was nothing in place. That got me thinking that maybe I’ll have to start something up.”

JANUARY A focus on economic

Nat Sloane, Co-founder, Impetus Trust

disadvantage is

OCTOBER Stephen Dawson found Impetus Trust



community sector.




The Cabinet Office

Impetus launches

Impetus reaches £5 million annual

its Reducing

income milestone, and is asked to

Reoffending Initiative

appear on national television on

with co-investors

BBC News


Foundation, The


Impetus has ten

backs Impetus to

Henry Smith Charity,

fight economic

The Indigo Trust

disadvantage in

and J Paul Getty Jnr


Charitable Trust

charities and social enterprises within its portfolio

grantmaking trust to




Judith Brodie

Impetus now has five

Daniela Barone

appointed as first

organisations within

Soares joins Impetus

Chief Executive of

its portfolio

as Chief Executive



MARCH Harvard Business Review publishes article entitled “Virtuous Capital: What Foundations Can Learn from Venture Capitalists”

Impact Report 2011/12

Advisory Board.

boosts the capacity for Impetus to create more strategic volunteering opportunities with

Esmée Fairbairn

a grant from the Social Action Fund.

“Venture philanthropy is a powerful force that unlocks the potential of innovative and ambitious charities and social enterprises to make an even greater impact. It blends the best of the private equity and venture capital sector with impactful social missions in the voluntary sector. For the last decade Impetus Trust has delivered this strategic support to help tackle poverty and create a better future for so many.”

graduates from the



Impetus portfolio



The Early Years Initiative is created

Impetus is recognised by the Investment and

with three portfolio organisations

Contract Readiness Fund as one of the specially

OCTOBER Speaking Up

after four years, with its number of people helped having grown ninefold

selected organisations with expertise in scaling


up social ventures and preparing them for social

Impetus is honoured by the Institute


Soares sits on its

2007 2008 2009 2010

Foundation is the first fund Impetus

Daniela Barone

Board of Trustees

Deutsche Bank

2005 2006

The Gatsby

UK, launches and

grantmaker at Charity Awards.

Stephen Dawson, Co-founder, Impetus Trust

market in the

single funder of the voluntary and

Impetus’s lead pro bono corporate partner



social investment

Chair of Impetus



most disadvantaged children.

The Cabinet Office appoints Nat


Speaking Up (now known as VoiceAbility)

build a sustainable

Impetus wins best

Impetus corporate

Impetus makes its first investment:

attainment of some of the country’s

of the Big Lottery Fund, the largest

expertise as an

Scan this code to watch a short interview of Nat and Stephen recalling Impetus’s earliest days.

Department for Education, to boost

with a mission to

succeeds founding

gives money and

OC&C Strategy Consultants becomes

Big Society Capital,

Sloane England Committee Chair

ISIS Equity Partners


million endowment from the

Louis G Elson


Nat Sloane and





and Impetus to manage £125

“When I think about the next ten years, the first thing that strikes me is that the need for Impetus is even greater than it was when we started.”

for Turnaround with the prestigious Europe’s Top Turnaround Award 2011, for helping charities and social enterprises to transform their organisations. Impact Report 2011/12


investment and public service contracts. The Youth and Social Opportunity Initiative joins other Impetus initiatives with a focus on creating job placements and training opportunities for marginalised young people

Mark Florman, Chief Executive Officer, BVCA

About Impetus


Impetus is proud to have pioneered venture philanthropy in the UK, and on the occasion of our 10th anniversary, we are reflecting on some of our learnings: • The model works! Over the last ten years, we have worked closely with 24 organisations to build their resilience and capacity to scale up. In the last year we have achieved a compound average annual growth rate in people helped of 39% for our portfolio


Impetus does not fund a charity’s everyday survival. Impetus purely focuses on enabling the best in class to thrive. Our vision is to break the cycle of intergenerational poverty through the proven models of the most effective charities, by enabling them to reach and help the most deprived people within our society.

organisations. • Funding charities strategically – that is, backing a business plan, not just a project, providing significant, ongoing management support (our investment executives spend almost a day a week with each organisation they are supporting), and top pro bono experts who use their day skills to help charities achieve concrete targets and turbocharge impact. • If we are to achieve our ambition for massive social change, we need to focus our resources on those organisations with the greatest potential for scale. This may mean working with some for only 12-18 months and being prepared to work with those with greater potential for much longer, and with much greater funding, until they reach massive, transformational impact. • Creating sector-specific initiatives that target investment to groups of organisations working in similar fields (at Impetus, these initiatives address reducing reoffending, early years, and youth and social opportunity) delivers greater impact as it fosters collaboration, coalesces organisations around key policy “themes” and enables greater cross-learning. • Helping good charities to become great charities is difficult and few manage the transition. It needs consistent strategic funding from a range of donors over a long period. It needs the capacity of the organisation to be built. Most importantly it needs a strong leadership team (board, chief executive, senior management team) if an organisation is going to achieve its potential. This involves support on soft as well as hard

Impetus portfolio organisations reach over 485,000 people a year and enable them to access education, skills and jobs. However, with 13 million people living in poverty in the UK, there is much more that needs to be done to break the cycle of economic disadvantage. Our charities and social enterprises tackling poverty face

We use our highly effective approach of an Impetus

the very real challenge of survival. Innovative charities

in-house Investment Executive, together with support

with proven programmes making a real impact on the

drawn from our 150 pro bono specialist experts and

ground struggle to attract the capital and top talent that

strategic funding, to accelerate the impact of our

would enable them to help more people.

charities’ programmes and help them thrive.

You can help change this by supporting Impetus.

In the last ten years, Impetus has learned that enabling ambitious and innovative charities and social enterprises

Impetus enables innovation to thrive. We find ambitious

to thrive is the best way to turn around the lives of the

charities and social enterprises with models that

most vulnerable people.

demonstrate impact in the fight against economic disadvantage. We reward them with expertise and

Charities on their own

Lack of money and skills

Stretched CEO fundraising to maintain

Producing and implementing business plans Attracting top talent, new funding and partnerships Reaching more people Providing clear strategic vision and direction

funding needed to take their solutions to the people that need them.

Focus on day-to-day



Charities with Impetus

skills, to transform organisations from “good” to “great”. • Having a monthly meeting with an Impetus Investment Executive (a “critical friend”)

Connecting with pro bono expertise to build capacity

who believes in the charity’s ability to scale up and is committed to helping to make it happen, provides a powerful boost to the aspirations of the charity’s senior management.

“I really value the fact that

Which in turn boosts their ability to deliver it.

Impetus delivers what it promises.

“It’s nothing less than the truth to say that we

To go from managing a local

would not be where we are today without Impetus

IntoUniversity programme to

and the support of its staff and pro bono experts.”

managing a new network of centres

Mick May, Chief Executive, Blue Sky Development & Regeneration

• Both Impetus and the innovative organisations we support need to work with policy makers in order to encourage mainstreaming of interventions with massive social potential.

Achieving high impact, with accurate impact measurements

has been a steep learning curve,

• Initiatives involving businesses, charities and government (eg, our Education

and Impetus’s support has been

Endowment Foundation) often achieve the most. When partnerships like this focus on a

crucial to our successful growth.”

shared objective, it can get the most powerful results.

Rachel Carr, Chief Executive, IntoUniversity

• Venture philanthropy is not about business people showing charities how to work more effectively. It is a genuine partnership combining the best of both worlds where each can

“Our partnership with Impetus has substantially increased our organisational capacity and has put

learn from the other.

Scan this code to read what working with Impetus has been like for Rachel.

• We can’t do it alone. Linking up with other transformative organisations and partnering with them to achieve massive social change needs to be a core element of our activity. With deep collaboration, 2 + 2 can equal 5... or 1,000.


Impact Report 2011/12

us on a firm footing for growth ahead.” Diana Whitmore, Chief Executive, Teens and Toddlers

For every £1 Impetus invests, we are able to leverage nearly £4 more of value for our portfolio organisations, through the deployment of high-calibre pro bono expertise, partnership investment and additional funds raised. Supporting Impetus is crucial to helping a greater number of innovative charities and social enterprises thrive. If you would like to support Impetus please call Amie Hoyland, Deputy Director of Philanthropy & Partnerships, on +44 (0) 20 3551 7049 or email to find out more.

Impact Report 2011/12



YOUTH AND SOCIAL OPPORTUNITY INITIATIVE More than one million young people

This cycle can often be broken,

In recent years we have seen the

in the UK are not in any kind of

helping these young people to make

incredible impact our portfolio

work, education or training. This is

positive changes to their lives. For

organisations have had helping

the highest level in thirty years and

example, in primary and secondary

young people get access to

represents one in every five people

schools, new teaching methods

employment, education and

aged 16 to 24. It is estimated that

can help learning at an early stage

training. Impetus is determined

youth unemployment costs the UK

and develop a wider set of skills,

to find and support more ambitious

economy £155 million a week in

linked to employability. Creating

organisations so that greater

Jobseeker’s Allowances and

job placements and training

change is possible. Much more

lost productivity.

opportunities for marginalised

can be done to tackle youth

young people will help them

unemployment and economic

There is also a mounting body

acquire the skills and confidence to


of research that links these

enter and remain in the workplace.

young people with other forms of disadvantage, such as having been

Working to break today’s cycle of

in care, teenage parenthood and

poverty provides better life chances

homelessness. Pressure to reduce

for young people in the future.

financial commitments to social

By increasing skills and creating

welfare means that state services

training opportunities, Youth

are increasingly ill-equipped to

and Social Opportunity fosters

deal with this growing problem.

greater social advancement and independence amongst those who need it most. High rates of poverty and low social mobility make it very

“We must be brave and challenge this notion that those who haven’t enough are poor because they have chosen to be, through the decisions they have made about how they live their lives, through the opportunities they have somehow failed to take up. Poverty in this country is unnecessary and unacceptable; it’s caused by structural factors – the way we run our society – not simply individuals’ choices.”

likely that the same problems will repeat in future generations, unless we take urgent action.

Dame Barbara Stocking, Chief Executive (May 2001 – February 2013), Oxfam GB

Supporting Impetus is crucial to helping a greater number of innovative charities and social enterprises thrive and create the change we want in the world. If you would like to support Impetus, please email Amie Hoyland, Deputy Director of Philanthropy & Partnerships, at to find out more.


Impact Report 2011/12

Impact Report 2011/12









Key objective



Key objective

In Sub-Saharan Africa, 24 million

To address this problem, Camfed

To enable Camfed to be recognised

Many farmers in developing

To address this problem, the

To support the Fairtrade Foundation

girls cannot afford to go to school.

International is dedicated to

internationally as a “gold standard”

countries struggle to provide for

Fairtrade Foundation works to

in achieving its strategic aim of

A girl may marry as young as 13 and

breaking the poverty trap by

for social change in rural

their families. Poor market access

improve the lives of poor and

tipping the balance of international

has a one in 22 chance of dying in

supporting girls in rural Sub-

communities in Sub-Saharan

and unbalanced trade rules often

marginalised farmers in over 60

trade in favour of disadvantaged

childbirth. One in six of her children

Saharan Africa through their

Africa by:

mean that the price they get for their

developing countries by seeking

producers in the developing

will die before the age of five.

primary and secondary education

• achieving a turnover of £10m to

crops does not cover the cost

to improve trading structures and

world by:

of production.

practices. The Fairtrade Foundation

• supporting the Foundation to

and the post-school years. When you

support the growth from four to

educate a girl in Africa, this raises

seven countries over four years • developing a sustainable and

her social and economic status and

grow the UK Fairtrade market by

licenses the FAIRTRADE Mark

an average of 30% annually

to products in the UK that meet

improves her health: she will earn

scalable model within the existing

international Fairtrade standards,

25 per cent more income and have

country programmes.

• supporting the development of

works with UK retailers to expand

Fairtrade Labelling Organizations

a smaller, healthier family. This

the market for Fairtrade products,


empowerment will help not just her

develops new Fairtrade products

family, but her community over time.

and raises public awareness of the FAIRTRADE Mark and the need for Fairtrade in the UK.

Read more about what Impetus has been working on with Camfed and key achievements in 2011/12:

Read more about what Impetus has been working on with Fairtrade and key achievements in 2011/12:

Performance 2011 2010 2009 2008 2007 2006 People helped (000s) 350





Annual turnover (£m) 100













Support package

Support package 2011

Pro bono services donated



Pro bono services donated


Grant funding



Grant funding


Investment management value



Investment management value


Total funding package to date


Total funding package to date



People helped 700




Annual turnover (£m) 300












*Due to difficulty in calculating the number of individual farmers and their families helped by Fairtrade, we use the number of producer groups as the measure of people helped. The actual number of people whose lives are being turned around as a result of Fairtrade’s work is far greater.


Impact Report 2011/12

Impact Report 2011/12









Key objective



Key objective

The number of people unemployed

To address this problem, FRC Group

To review FRC’s social enterprise

Young people from the UK’s poorest

To address this problem,

To enable IntoUniversity to be

long-term is continuing to rise,

works to improve the lives of people

models and its potential to be scaled

backgrounds face a considerable

IntoUniversity’s core focus is on

recognised nationally as a model

with more people out of work for

in poverty and unemployment. It

up, culminating in preparation of a

educational disadvantage. Students

social mobility through education.

of excellence for widening the

more than a year than at any time

comprises two integrated social

medium-term business plan.

from disadvantaged postcodes are

It is dedicated to raising the

participation of young people from

since 1996. The longer someone is

businesses, throughout which

four times less likely to get good

aspirations and improving the life

disadvantaged backgrounds in

unemployed, the less likely they are

training opportunities are created

FRC Group graduated from the

GCSEs than those from well-off

chances of those young people most

higher education by:

to ever return to work. In today’s

for the long-term unemployed and

Impetus portfolio in January 2012.

areas, six times less likely to go to

vulnerable to educational failure.

• developing a replicable and

competitive job market there are

other disadvantaged groups.

university, and have little chance of

IntoUniversity inspires and engages

sustainable model of integrated

eight job seekers for every vacancy,

FRC Group’s trainees are seven

ever having a professional career.

young people from disadvantaged

academic and personal study

making it very difficult to find work.

times more likely to find work than

backgrounds to attain either a


other job seekers, helping them

university place or another chosen

break out of what could be a terrible

aspiration, by offering long-term,

people from disadvantaged

cycle of long-term unemployment.

out-of-school study support through

backgrounds by 2010, enabling

its centres.

them to improve their academic

• reaching more than 2,000 young

achievement and long-term life chances.

Learn more about FRC Group’s key achievements in 2011/12, including our contribution to strengthening its sales team:

Read more about what Impetus has been working on with IntoUniversity and key achievements in 2011/12:

Performance 2011 2010 2009

People helped 200


Annual turnover (£m) 100











Support package

Support package 2012

Pro bono services donated



Pro bono services donated


Grant funding



Grant funding


Investment management value



Investment management value


Total funding package to date


Total funding package to date




People helped (000s) 10






Annual turnover (£m) 0





*Figures for the number of people helped are for the academic year.


Impact Report 2011/12

Impact Report 2011/12









Key objective



Key objective

There are more than 1m

To address this problem,

To help develop a roll-out strategy

The percentage of 16-25 year olds

In order to address this problem,

To support the Street League

unemployed young people in the UK

Resurgo Trust, through its Spear

and business plan to underpin

not in employment, education or

Street League uses sport to engage

management team to:

today, with London experiencing the

programme, provides coaching

growth by:

training is twice that of the rest of the

disadvantaged young people, with

• roll out its model nationally

highest rate of youth unemployment

and support to young people not

• expanding its Spear programme

adult population. There is a mounting

the ultimate aim of progressing

• diversify its income streams

in England. This is the highest

in employment, education or

• growing commercial revenue

body of evidence that strongly links

them into further education, training

• refine its monitoring and

number since the mid-1980s, and

training (NEETs), in preparation for

streams, including SpearHead,

this segment of the population with

and/or employment.

accounts for one in every five people

the job market. The programme

a job placement agency for top

other social issues such as having

aged 16 to 24.

addresses the most common

Spear graduates, and Spear

been in care, teenage parenthood,

causes of underachievement and is

Solutions, a training consultancy

homelessness and crime.

complemented by ongoing

to SMEs with a high proportion of

one-to-one coaching and work

entry-level recruits.


placement for graduates.

Scan this code to read about Street League’s expansion and how Impetus is helping.

Learn more about how Impetus is supporting the expansion of Resurgo Trust’s Spear programme, which helps young people like Marek (shown on the front cover):

Performance 2011 2010

People helped 300



Annual turnover (£m) 150











Support package

Support package 2012

Pro bono services donated



Pro bono services donated


Grant funding



Grant funding**


Investment management value



Investment management value


Total funding package to date


Total funding package to date



People helped 500



Annual turnover (£m) 200








*Number of young people moving into education, training and employment equals people helped. This differs from previous reports as Street League has evolved to increase its focus on participants moving into education, training and employment. Therefore we do not have validated data for 2008 and 2009.


Impact Report 2011/12


**We are grateful to Deutsche Bank and Man Charitable Trust for their support to Street League over the past three years, tackling economic disadvantage in London.

Impact Report 2011/12






Key objective

Looking ahead

Young people who suffer from low

To address this problem,

To set a standard of excellence for

Impetus, together with Bridges

aspiration and self-esteem typically

Teens and Toddlers provides an

engaging disadvantaged young

Ventures, has successfully led

exhibit unhealthy behaviours

early intervention programme

people in developing their aspirations

an investor syndicate supporting

and attitudes, low educational

that targets two sets of children,

and engaging them in education,

Impetus investee Teens and Toddlers

attainment and poor attendance –

at-risk teenagers and vulnerable

training or employment by:

to deliver a three-year, £3.25 million

all factors that put them at risk of

toddlers. It is designed to raise the

• expanding the programme reach

social investment contract to roll its

being excluded from school, training

aspirations of at-risk teenagers,

from 14 to 30 local authority

programme out across the

or employment in the long term.

through an innovative programme

areas, enabling more than 1,000

North West.

They tend to receive inadequate

for teens to act as role models to

teenagers and 1,000 toddlers to

parenting, have no role models

vulnerable toddlers in a safe nursery

complete the programme

The Department for Work and

or come from families where they

environment. Teens and Toddlers

every year

Pensions (DWP) Innovation Fund

may have to assume the role of the

inspires young people to achieve the

parent. These young people inherit

skills, qualifications and self-belief

young people to improve their

and experience poverty that gives

they need to take control of their

education, employment and training

them no sense of purpose and

lives, re-engage with education and

outcomes. The Teens and Toddlers

results in high costs to society

make more informed decisions in

programme works to help teenagers

as a whole.

their lives.

to build a sense of responsibility

• growing annual revenue to £1.3m.

was set up to support disadvantaged

by acting as role models to at-risk toddlers, to improve their school

Read more about what Impetus has been working on with Teens and Toddlers and key achievements in 2011/12:

“The most effective help is the combination of money and advice that is the hallmark of a new breed of intermediaries like Impetus that are developing the market for venture philanthropy and investment for social good. Their time is now.” Rt. Hon. Nick Hurd MP, (Ruislip, Northwood and Pinner), Minister for Civil Society

“Our first foray into social investment will have a major impact on lifting the aspirations of disadvantaged teenagers in the North West.” Daniela Barone Soares, Chief Executive, Impetus Trust

engagement and attainment. Since 2009 Impetus has worked closely with Teens and Toddlers to build its capacity to achieve greater impact. This contract is an


important platform for its further 2012

growth and will result in many


more disadvantaged young people


achieving their true potential.

2009 People helped 700




Annual turnover (£m) 300












Support package Pro bono services donated


Grant funding*


Investment management value


Total funding package to date


*We are grateful to Deutsche Bank for its support to Teens and Toddlers over the past three years, tackling economic disadvantage in London.


Impact Report 2011/12

Impact Report 2011/12



“Many of our trusts enjoy excellent collaborative relationships and partnerships with other grantmakers, but it is unusual for them to provide funding to another grantmaking body. The aim here was to create a wider partnership of several funders, all working to pool knowledge and resources, and benefiting from Impetus’s high levels of engagement.” Victoria Hornby, Former Executive of the Sainsbury Family Charitable Trusts, one of which is Impetus-supporter The Indigo Trust

REDUCING REOFFENDING INITIATIVE There is a significant link between

Knowing this, the Impetus for

This year Impetus has met

poverty and crime. The root causes

Reducing Reoffending Initiative

with stakeholders across the

of poverty – family breakdown,

focuses on improving the

criminal justice sector to share

unemployment and educational

employability of ex-offenders.

expertise and advance the goal

failure to name a few – can create

Reducing Reoffending invests

of breaking the cycle of poverty

a cycle of poverty that lasts for

in organisations that deliver

through reducing reoffending.

generations. The prison population

programmes proven to support

By convening officials from the

in the UK has more than doubled

ex-offenders and focus on providing

National Offender Management

in the last twenty years. Two

pathways to employment. By

Service, Department for Work

thirds of adult prisoners reoffend

building employability skills

and Pensions, prison governors

within two years of release. The

and addressing resettlement

and major employers, Impetus is

scale of this problem is costly

issues, Reducing Reoffending

building new relationships and

to all. Furthermore, the cost of

aims to dramatically increase the

driving constructive debates.

reoffending on an already stretched

employability of ex-offenders and

Reducing Reoffending has a unique

state is £13 billion a year.

break the cycle of reoffending.

perspective that will help to bring about the systemic change needed

Research shows that this cycle is not

to keep ex-offenders away

unbreakable and the probability of

from crime.

reoffending can be reduced with the right support at the right time. For example, a stable job when leaving prison reduces the likelihood of reoffending by up to half.

To achieve the magnitude of social change we believe is possible, many more charities and social enterprises must be backed. Our highly effective approach combines skills and strategic funding to accelerate the growth of the organisations we support. In order to deliver results that increase the scale and sustainability of our portfolio organisations, your support is crucial. If you would like to learn how you can help innovative charities thrive, please email Amie Hoyland, Deputy Director of Philanthropy & Partnerships, at to find out more.


Impact Report 2011/12

Impact Report 2011/12









Key objectives



Key objective

Two-thirds of those leaving prison

To address this problem, Blue Sky

To support the successful

The growing prison population in the

To address this problem, Kainos

To support the development of a

will reoffend within two years.

gives paid employment to people

scale-up of Blue Sky’s activities,

UK coupled with a high proportion

Community delivers classroom

three-year business plan that takes

Having a job is a key factor in

recently released from prison,

both organically and through

of ex-offenders being reconvicted

and community-based offender

into account the changing financial

preventing this from happening, yet

with the aim of enabling ex-

franchise, and to increase the

within two years of their release

programmes within prisons, which

environment in which Kainos will be

the vast majority of people leaving

offenders to move successfully into

number of jobs offered to

comes at a cost. According to the

develop positive social skills, mutual

operating, builds its sustainability

prison are unlikely to have jobs.

permanent employment. It helps


Ministry of Justice, the estimated

respect for others and a renewed

and maximises its impact on the

give ex-offenders the experience,

annual cost of reoffending is

trust in society. The aim is to reduce

reduction of reoffending.

confidence and training to hold

around £13bn per year. A large

reoffending and enable prisoners

down permanent positions. Blue

proportion of ex-offenders are

to live purposeful and stable lives

Sky employs solely ex-offenders,

ill-equipped to manage their

during their sentences and after

typically in the maintenance of

transition back into the community

their release.

parks, open spaces and other

themselves, not having had their

related contractual work for local

behaviour management issues

authorities. Providing ex-offenders

addressed in prison.

with employment opportunities has been identified as the intervention with the single highest impact in reducing reoffending rates. Read more about what Impetus has been working on with Blue Sky and key achievements in 2011/12:

Read more about what Impetus has been working on with Kainos and key achievements in 2011/12:

Performance 2012 2011 2010 2009 People helped 250



Annual turnover (£m) 100












Support package


Support package 2012

Pro bono services donated


Grant funding*


Investment management value


Total funding package to date


2011 2010 People helped 240



Annual turnover (£m) 120









Pro bono services donated


Grant funding


Investment management value


Total funding package to date


*We are grateful to Deutsche Bank for its support to Blue Sky Development & Regeneration over the past three years, tackling economic disadvantage in London.


Impact Report 2011/12

Impact Report 2011/12









Key objective



Key objectives

A significant proportion of prisoners

To address this problem, Prison

To further support the development

In prison there is no provision

To address this problem, Prisoners’

To further support the senior

cannot read at the level expected

Radio Association delivers a national

and implementation of its

for education above Level 2,

Education Trust provides grants

management team of Prisoners’

of an 11-year-old. This means the

prison radio service and supports

three-year business plan to increase

which is expected of a 13-year

and learning support to prisoners

Education Trust and maximise

traditional way of communicating

the development of local prison

its organisational capacity and

old. In addition, nearly half of

to undertake distance education

impact on the reduction of

information about rehabilitative

radio projects. The goal is to inform,

financial sustainability through

those in prison do not have any

courses not otherwise available

reoffending by:

activities through printed fliers and

engage and motivate prisoners to

external revenue streams.

qualifications, diminishing their

to them in prison, with the aim

• planning for the changing

notice boards may be ineffective

help them turn around their lives.

chances of successfully

of broadening their horizons

and may not reach those who need

National Prison Radio broadcasts

re-entering the community with

and improving their chances of

the most help. Compounding this

are presented by prisoners directly

stable employment on release.

successful resettlement on release.

problem, prisons are often chaotic

to prisoners. Because of this the

places, making communication

programmes have real resonance

even harder.

and penetrate cell walls to engage

Scan this code to read more about what Impetus has been working on with Prison Radio Association.

financial environment • developing a three-year business plan • building its sustainability.

even the hardest-to-reach prisoners.

Read more about the focus of Impetus expertise and pro bono support that has helped Prisoners’ Education Trust:


Performance 2011




People helped (000s) 50




Annual turnover (£m) 10








Support package


Impact Report 2011/12


People helped (000s) 3.5




Annual turnover (£m) 1.5









Support package Pro bono services donated


Pro bono services donated


Grant funding


Grant funding


Investment management value


Investment management value


Total funding package to date


Total funding package to date


Impact Report 2011/12









Key objective



Key objectives

Approximately 48% of prisoners

To address this problem, Shannon

To further support the development

Every year more than 11,000

To address this problem, Working

To optimise the Working Chance

have very poor or non-existent

Trust provides a peer mentoring

and implementation of a three-year

women are imprisoned, often

Chance is a distinctive, non-profit

delivery model through strategic

reading skills. Without these skills it

programme that encourages and

plan that will build the sustainability

losing their jobs, accommodation

recruitment consultancy offering

review and to support the

is extremely difficult for prisoners to

supports prisoners who can read

of the organisation, double the

and their children taken into care.

job recruitment services to women

organisation to develop a three-

engage in many of the programmes

to provide one-to-one mentoring to

number of new learners accessing

Imprisonment will cause a third

offenders. It aims to get women into

year plan for scale up of impact and

available to them inside and

prisoners who cannot read or who

the Shannon Trust mentoring

of women prisoners to lose their

sustainable jobs that will lead to a

longer-term financial sustainability.

outside of prison, which are key to

have poor reading ability, to assist

programme and increase its capacity

homes, reducing future chances of

career, thereby enabling women and,

addressing offending behaviour. It is

them in improving their reading

to deliver greater impact.

employment and shattering family

crucially, their children to move out

a major barrier to employment, as

skills. Learning to read improves

ties – all of which have a profound

of the cycle of reoffending.

prisoners who are unable to read are

self-esteem and self-confidence and

impact on family life. Half will

ineligible for over 90% of jobs.

can mean the first step in engaging

reoffend within a year of release.

with other prison education courses. All this can lead to improved behaviour, relationships and chances of getting the skills needed for employment.

Read about what Impetus has been working on with Working Chance and key achievements in 2011/12:

Read what Impetus has been working on with Shannon Trust and key achievements in 2011/12:

Performance 2011 2010 People helped (000s) 6


Annual turnover (£m) 2







Support package



Support package 2011

Pro bono services donated


Impact Report 2011/12


Grant funding


Investment management value


Total funding package to date


2010 People helped 80


Annual turnover (£m) 40








Pro bono services donated


Grant funding


Investment management value


Total funding package to date


Impact Report 2011/12



“Working with Impetus is like putting a turbo-charger on your organisation.”


Craig Dearden-Phillips MBE Chairman Speaking Up (now called VoiceAbility)

Poverty is still largely transmitted

There are a number of ways to

Through building a portfolio within

from generation to generation.

turn the tide. Supporting the most

this sector, Impetus has gained a

Evidence demonstrates that there

disadvantaged families and young

unique perspective on the strengths

is a clear need to intervene early

children through their crucial

and weaknesses of programmes

to break the cycle of poverty.

early years can make a significant

that target early years. Engaging

Even today, a child’s life chances

difference to the children’s

with the Department for Education,

are heavily determined at birth.

opportunities in life. The Early

academics and leading charities

Children from disadvantaged

Years Initiative was launched in

delivering services, Impetus

backgrounds start lagging behind

2011 to help the 500,000 children

addresses the issue of school

their better-off peers before they

under five who live in severe

readiness for children most

start school. Delayed development

poverty in the UK.

likely to fall behind and identifies

at this young age has life-long

programmes with the potential

consequences. For example,

The focus for Early Years is to

to bring about lasting change for

cognitive development at 22

improve the ability of parents

many more.

months correlates strongly with

and children’s centre staff to

educational attainment

support the positive development

in adulthood.

of children. By dramatically increasing the reach of proven parenting programmes and the roll out of best practice models for children’s centres, Early Years aims to boost the life chances of disadvantaged children by closing the gap in school readiness.

Impetus is committed to enabling the most innovative charities and social enterprises to grow and support a greater number of vulnerable families and children. In order to deliver this level of impact, charities must take their capacity and capabilities to the next level. Impetus focuses on helping the best in class reach many more people in need, and we rely on our supporters to help achieve this. Your support is vital to Impetus and the ambitious charities we want to scale up. If you would like to support Impetus, please email Amie Hoyland, Deputy Director of Philanthropy & Partnerships, at to find out more.


Impact Report 2011/12

Impact Report 2011/12









Key objectives



Key objectives

Parents are the most influential

To address this problem, Family

To clarify strategic options and:

In some socially deprived areas,

To address this problem,

To put in place the building

people in the lives of their children.

Links trains thousands of health,

• support the development of a

50% of children have impoverished

I CAN works with early years

blocks for I CAN to increase its

Many parents struggle and feel they

education and community

language on school entry, increasing

professionals, children’s centres and

overall capacity to scale up, and

lack the confidence, understanding

professionals to run the Nurturing

to 85% in some of the worst areas

nurseries in deprived areas to help

successfully complete the transition

and skills to succeed at nurturing

Programme, a parenting

systems, business and delivery

affected. Children entering school

close the communication gap and

of its early years activity into a

their children. They lack the support

programme that works to improve

models to build capacity in order

with communication difficulties

help more children enter school with

sustainable income stream.

they need to create the foundations

the confidence and skills of parents.

to achieve and exceed planned

may face problems learning and

the communication skills typical

for a positive life for their children at

It encourages the use of effective

growth over the next three-to-

forming relationships that thereby

for their age. Its flagship Early

home and at school.

positive discipline while encouraging

four years.

reduce life opportunities.

Talk programme provides effective

three-year business plan • support the development of

an understanding of the emotional

prevention and early intervention

needs of both parents and children.

for children with speech and language difficulties.

Learn what Impetus has been working on with I CAN and key achievements in 2011/12:

Read what Impetus has been working on with Family Links and key achievements in 2011/12:

Performance* 2012 2011 People helped 800


Annual turnover (£m) 400










*Comparable number is not available for 2011.


Support package

Support package 2012 2011

People helped (000s) 20



Annual turnover (£m) 5






Pro bono services donated


Pro bono services donated


Grant funding


Grant funding


Investment management value


Investment management value



Total funding package to date


Total funding package to date


Impact Report 2011/12

Impact Report 2011/12






Key objective

Looking ahead

First-time teenage mothers are

To address this problem,

To support Ripplez to put in place

The Department of Health has

particularly vulnerable to unstable

Ripplez improves the lives

the building blocks to successfully

appointed Impetus and partners to

environments. There is significant

of young mothers and their

develop into a sustainable social

manage and dramatically expand

evidence that their children are

children by creating positive

enterprise by:

the Family Nurse Partnership

more likely to disengage from

changes in maternal wellbeing,

• clarifying the shape and scale of

Central Unit.

early learning and therefore

health behaviour, attachment

underperform at school, suffering

and parenting. Its Family Nurse

from poorer life chances as a result.

Partnership (FNP) programme is

Jerry Greenfield,

Ripplez’s growth potential over

and achieves a range of outcomes


Through our Early Years Initiative,

the next three-to-four years

Impetus has gained direct

• building a more diversified

Ben & Jerry’s, Inc.

experience of the Family Nurse

funding mix

widely recognised as best-in-class

“Turbo-charging innovation is fundamental to solving the many issues we are faced with as a society. Impetus is making a big difference for a lot of voluntary organisations.”

Partnership (FNP) programme

• developing the organisational

contributing directly to improving

capacity and capability to achieve

in action, as a result of our 2011

pregnancy outcomes, child health

the organisation’s potential.

investment in Derby-based FNP provider Ripplez.

development, future school

Scan this code to read more of Jerry’s thoughts on the importance of backing innovation to benefit all of society.

readiness and achievement. Scan this code to read more about what Impetus has been working on with Ripplez and key achievements in 2011/12.

The FNP programme is an evidenced-based programme that targets first-time teenage mothers and provides them with specially trained family nurses during pregnancy and until the child is two years old. Proven to have enormous impact on pre- and post-natal care, the programme has the potential to transform the lives of thousands of disadvantaged families in the UK.

Performance Impetus – together with our


partners the Tavistock and Portman

2011 People helped 200


Annual turnover (£m) 100









NHS Foundation Trust and the Social Research Unit – is proud to have been chosen to manage the national dissemination, training and quality control of this hugely impactful programme.

Support package


Impact Report 2011/12

Pro bono services donated


Grant funding


Investment management value


Total funding package to date


Impact Report 2011/12







At the age of four or five, children

The £135 million Education

In its first year, EEF will have

from the poorest fifth of homes

Endowment Foundation (EEF), jointly

awarded over £12 million to 21

are already 19 months behind in

overseen by Impetus and The Sutton

projects working in over 940 schools

terms of cognitive and emotional

Trust, is dedicated to raising the

and with over 245,000 children.

development when compared to

attainment of disadvantaged pupils

This activity will be used to inform

children from the richest homes in

in English primary and secondary

future learning about, for example,

the UK. Disadvantaged children start

schools by challenging educational

how teaching assistants, who today

lagging behind their better-off peers

disadvantage, sharing evidence

make up a quarter of the school

even before school begins and,

and finding out what works.

workforce, can be more effectively

what is worse, the attainment gap

Its initiatives target the most

deployed; whether the approach to

between poorer children and their

disadvantaged pupils in the most

teaching maths used successfully

richer peers widens as they grow

challenging and underperforming

in Singapore can be successful in

older. Without even the most basic

schools in the country. The goal

England; and whether US-style

qualifications, the opportunity for

is to close the attainment gap

summer camps can help students

those from poorer backgrounds to

between rich and poor by spending

bridge the crucial primary-to-

rise up the ladder is often shut

intelligently on what has proven to

secondary school transition.

off. Improving the quality of

have an impact on breaking the link

education for children is crucial in

between children’s background and

unlocking social mobility for them

their attainment.

and future generations.

EEF projects test a wide range of approaches to raising attainment and are grouped into three key themes: 1. Teaching The EEF’s first year (2011-2012)




number of

number of


children involved


Impact results


total funding

number of


schools reached

Impact Report 2011/12

247,590 children involved


children involved



Supporting the improvement of teaching is crucial to raising attainment. Projects in this theme test new teaching approaches, and investigate how to maximise the impact of the interaction between teacher and pupil, which is at the heart of education.

2. Targeted support Supporting children with targeted interventions when they most need them has the potential to transform life chances. Projects in this theme test focused, often intensive, programmes that try to increase attainment for students

3. Parents & communities Education is much broader than school, and the EEF wants to help parents and communities to support their children. Projects in this theme aim to increase parental engagement and identify the best ways parents can help children learn.

who are at risk of not reaching their potential.

Impact Report 2011/12



LLOYD’S STORY Half of all prisoners being released are unable to read. Prisoners who have poor reading skills are most likely to leave prison no better equipped for life outside than at the time they were convicted. Of those released, two-thirds of adults reoffend within two years and an exceptionally high proportion of those have very poor reading skills. If they are employed they are far less likely to find themselves in prison again, and if they are to be employed, they must be able to read. Shannon Trust runs a peer mentoring programme that encourages and supports prisoners who can read to give one-to-one tuition to prisoners who struggle to read. Since 2011, Shannon Trust has been part of our Impetus for Reducing Reoffending Initiative.

Lloyd is serving his prison sentence in

when they get out again, too. If you’re like

officer told me he noticed Tony was

appetite to learn. He wanted to show

completed the task with gusto and

Kent. After years in prison he became

me and have a family, you miss them a

having trouble filling out the form

his family he was changing every

I presented him with a certificate in

involved in Shannon Trust’s Toe by Toe

lot. Surrounded by negativity, I tried hard

allowing his family to visit. I believed

time they visited so we aligned his

front of his applauding family.

programme. Becoming a Shannon Trust

to hide my shame at being in prison. But I

I could help but I first had to win

reading and writing targets with the

mentor and later a coordinator for the

realised that prison walls and the prison

Tony’s trust.

dates of their visits. Tony discovered

I am proud when I talk about

entire prison has transformed not only

mentality didn’t have to dominate or

Lloyd’s future prospects, but also those

suffocate me; I still had a choice.

of the fellow prisoners he helps every day.

When another prisoner told me about Shannon Trust, I was immediately

I never really had a job. In fact, before I

interested. I never would consider myself

was in prison, I didn’t do much, for me or

educated so when the programme

for others. I spent a lot of time thinking

coordinator suggested I could be a

about myself, being frustrated, angry and

mentor I thought it was out of the

destructive because I found it difficult to

question! However, I had some skills

communicate emotionally.

and starting with the Toe by Toe book, I quickly progressed through the training

When you first get here you feel isolated,

“I’m proud of the meaningful difference I can make in the lives of others, helping them get the building blocks together for a better life outside these walls.”

new ways to express himself; I

Tony. I’m proud of the meaningful

At first, Tony was not interested in

could see his aggressive behaviour

difference I can make in the lives of

anything I had to say. Over time,

diminish, replacing his frustration

others, helping them get the building

though, we built a bond. I could

with pride. This is exactly how I felt

blocks together for a better life

relate to his frustration and anger,

as I went through the training. For

outside these walls. Today I know

but I could also help him see past

both of us, the time we had left to

that each learner has their own

those emotions. Gradually he opened

serve in prison suddenly became

challenges, but the programme has

up and I learned he was deeply

something valuable to us.

helped us to think about the future in

embarrassed because he couldn’t Tony was overwhelmed with a

desperately wanted to have a closer

sense of achievement the day he

tie with them.

reached his Level 1 literacy target, which meant he could join the

levels. Before I knew it I met Tony.

dejected and rejected from society.

a way we never had before.

read letters from his family. He

Shannon Trust provided me with the

classroom environment to continue

Many don’t know how to cope. They keep

At the start of his sentence, Tony was

training and tools I needed to seize

his education. His last assignment

the same attitude and habits they had

anti-social, aggressive and an alcoholic

that moment. Tony’s commitment

for me was to write a short speech

outside; chances are they’ll do the same

who resented authority. One day a prison

to change was demonstrated by his

to deliver in front of his family. He


Impact Report 2011/12

Impact Report 2011/12



FRANCISCO’S STORY Being able to speak clearly and process speech sounds, to understand others, to express ideas and interact with others are fundamental building blocks for a child’s development. Analysis shows that good communication, language and literacy at a young age have the highest correlation with outcomes in school at seven years. Children with language difficulties in the early years can have problems learning and accessing school curriculum. I CAN works with children’s centres and nurseries to break down the barriers for children with communication needs and enhance their communication development. Since 2011, I CAN has been part of our Early Years Initiative, which focuses on improving the ability of parents and children’s centre staff to support the positive development of children. Michelle lives in South East London

He was a good baby – quiet, but

Francisco started at I CAN just

with her three-year-old son,

really well-behaved. Then, when he

before he turned three. Right from

Francisco, and her husband Franco.

was two, a childminder told me he

the very beginning it was so good

Last September, Francisco began

wasn’t speaking enough for his age.

for him. Before his first session the

attending the I CAN Early Years

He would only make noises you see,

teachers came round to our house to

Centre because he was having

like little mumbles. He’d point or

meet him and to play with him – just

difficulties with his speech. Less

drag me to see things, but he never

to settle him in and get him used to

Originally Francisco was going to be at

Francisco starts school in September. If

than a year later, he is a different

said any words.

them. I filled out the form whilst they

I CAN for just one term, but they kept him

it wasn’t for I CAN I know he would have

were there. Then his dad and I took

on for the whole year in the end to make

struggled. He wouldn’t have been able to

little boy. Whereas before he could say just a few single words,

I was offended by what the

him to an open day at the Centre and

sure he was as far along as he needed

communicate properly so he would have

now he is confident speaking in

childminder said. She made me

as soon as Francisco got there he

to be. What they’ve done for him in that

hated it. He would have been behind,

whole sentences and will start

really worried there was something

really took to the environment.

time has been a miracle. He has so much

playing catch up. Over the summer his

school at the same language level

wrong with Francisco, so I raised it

All the teachers at I CAN have been

confidence now and is talking a lot. Before

dad and I are going to take him horse-

as his peers.

with my health visitor. She referred

really friendly and are always there

he wouldn’t even try to talk, but now he

riding and to museums to see cars and

me to the Speech and Language

to reassure us and give us feedback

can say whole sentences and we have

When Francisco was born I got

aeroplanes. I wouldn’t have done that

Therapy team at my local health

on how Francisco’s doing. When

conversations. The progress he’s made

really ill. He was my first child and

with him before. I always thought he

centre and it started from there.

he first started they used to have a

has been just amazing.

I didn’t know what to do as I had

was smart because he was potty trained

They did an assessment and we

meeting every Wednesday where

never had a baby before. It felt like

began going to a group where

they would talk us through what they

I do things differently now too. I’ll get

such a big shock to suddenly have

intelligent – it’s just that he processes

they taught me how to play with

were teaching him. We would watch

down on his level when I speak to him,

him in my life. I had help from my

things differently. I don’t know what his

Francisco and interact with him. At

video clips of how he was in the

hold eye contact and speak to him slowly

friends – they would come and do

special talent is yet, but I know he’s got

the last session they said he

group and we’d get to meet the other

and clearly. I wait for him to respond

my washing, ironing and cooking –

one. When I see it I’m going to do all I can

could go to the I CAN Centre for


rather than trying to talk for him all the

but I couldn’t do much. As a result, I

to help him develop it.

specialist help.

never used to play with Francisco or

before he started talking. Now I know he’s

time. I do all that even without thinking about it now.

“If it wasn’t for I CAN I know he would have struggled. He wouldn’t have been able to communicate properly so he would have hated it. He would have been behind, playing catch up.”

interact with him.


Impact Report 2011/12

Impact Report 2011/12



SARAH-JAYNE’S STORY Sarah-Jayne Williams, a Director of Customer Management at BearingPoint UK Ltd, one of Europe’s leading management and technology consulting firms, is one of Impetus’s “pro bono experts”. She recently led a six-person BearingPoint team that helped Impetus investee Shannon Trust review its current delivery model and craft a new one that would enable the organisation to double the number of people it helps (see page 32). Here, she describes the project and what she enjoys about working on Impetus projects. Shannon Trust is a charity that

volunteers, to bring them with us on

become participants within their

aims to reduce reoffending

the journey. We ran a survey across

communities rather than remaining

through the promotion of literacy

the volunteer network and held

on the outside.

in prisons. Its goal was to extend

workshops and interviews to help

the reach of its Toe by Toe reading

understand the current model and

Our BearingPoint CSR programme

programme and double the number

what changes were required to grow

started a couple of years ago, when

of prisoners learning to read, over

the impact of Shannon Trust.

we began to look at how we could

the next three years. While the

use our consulting skills to benefit

core elements of the programme

The outcomes of the project were

the charitable sector. Since we

(peer-led learning using the Toe

detailed analyses and a set of

had little knowledge of the sector,

by Toe manual, with an official

recommendations that addressed

we were looking for a safe and

“advocate” within the prison and

Shannon Trust’s vision and growth,

impactful way of contributing.

a volunteer coordinator liaising

people and organisation, marketing

with the Shannon Trust office) were

and communications, recruitment

We found Impetus and thought they

established in each prison, it was

and retention, and metrics and tools.

provided a clear framework that

recognised that there were many

enabled us to begin to do pro bono

differences from prison to prison in

The level of support we received

consulting in an environment that is

terms of how the programme was

from the Shannon Trust leadership

very outcome-focused. We liked the

delivered, impacting consistency

team and the broad support and

fact that our projects would be part

and quality of its provision, as well

engagement of the volunteer

of a bigger programme of work that

as its ability to grow.

network were critical to the

was already taking charities on a

project’s success.

journey of growth rather than just a

Impetus invited BearingPoint to help

single intervention. Our CEO, Stefan

Shannon Trust achieve its ambitious

Our hope is that Shannon Trust will

Spohr, fully supported the initiative

growth plans by reviewing the

indeed be able to double the number

and encouraged us to partner with

current delivery model, identifying

of prisoners that it reaches with its

Impetus because contributing to

best practices, developing a future

reading programme and ultimately,

society is simply the right thing to do.

operational strategy and creating

with that, reduce reoffending and

a roadmap to embed the changes.

increase the quality of people’s

Another reason we wanted to work

As Shannon Trust has a high

lives. That includes being able to get

with Impetus was because of its

dependency on a large volunteer

jobs, being able to have confidence

Investment Executives, to have that

network, it was critical to engage the

and self-esteem, and to actually

safety net of working alongside


Impact Report 2011/12

someone who knows the sector,

Everyone who has been involved on

who knows some of the do’s and

Impetus projects will say that they

don’ts. On this project we worked

feel completely privileged to have

with Impetus’s Meredith Niles,

been part of them because of the

who helped us understand the

huge amount of enthusiasm and

critical issues and how to navigate

support the charities give to the work

them. She was our guide and also

that is done. They definitely come

provided additional insights from the

away from these projects with a

sector that we would not have had

sense that they have done something

otherwise. There is no doubt, she

valuable and have enjoyed being part

was invaluable!

of it. The CSR work we are doing with Impetus is definitely one pillar that

The biggest difference that we find

shapes a BearingPoint culture that

between this pro bono work and

our people want to work in, and our

our commercial work is the huge

culture is a key factor in retaining

appreciation that we get when we

our people.

are doing work with the different charities, which creates a different

What I love the most about Impetus

energy in the team from what

is that it has great vision, great

you would typically see in a

people and you are part of a

commercial project.

strategic plan to take a charity from where they are, to much greater

Scan this code to learn how you too can give what you’re good at.

scale and impact. That is very

“We were most impressed how the BearingPoint team immersed themselves in our world to achieve a real understanding of what we did, our passion and values. Their recommendations for strategic, organisational and operational change resonated with our board, volunteers and staff alike.” David Ahern,

satisfying indeed.

Chief Executive Officer, Shannon Trust Impact Report 2011/12




Photo credits



Bank interest (1%)

Impetus generated total income during the year of £5.9m (2010/11: £4.9m). This reflects another very successful year, exceeding our targets and including another leap in income. Income was derived principally from donations from


Cash donations from individuals and companies (28%)


Grants from foundations and government funding (24%)

corporations, grantmaking trusts and individuals, as well as donated pro bono services and facilities. This does not include the partnership investment and


Donated services and facilities (47%)

additional funds raised for our portfolio

Cover photo by Rômulo Seitenfus/ Impetus; p5: Pierre Metivier; p6-7: original graphic by James Williamson; p16: Street League; p18: Peter di Campo/Camfed; p19: Simon Rawles; p20: Zoe Photography; p22: Steve Schofield; p23: Tom Martin; p24: Anthony Upton; p26: Paul Upward Photography; p28: Paul Upward Photography; p29: Kainos Community; p30: Matt Wreford; p33: Rômulo Seitenfus/Impetus; p34: Rômulo Seitenfus/Impetus; p36: Family Links; p37: I CAN; p38-39: Ripplez; p40: The Tutor Trust; p45: Rômulo Seitenfus/ Impetus; p47: BearingPoint.

as these amounts are paid directly to the charities by the funders.


Partnership investment (2%)

Value delivered to portfolio organisations The chart at left illustrates the


value Impetus provides to portfolio

Impetus Investment Team support to portfolio organisations (17%)



Grants to portfolio organisations (22%)

organisations, both in percentage

Additional funds raised for portfolio organisations (7%)

terms and value. In 2011/12,



Impetus delivered £5.1m (2010/11: £4.5m) of value to its portfolio

Pro bono support to portfolio organisations (52%)

Resources expended to achieve our impact


Governance (3%)

To achieve the desired impact within our portfolio of organisations, resources are expended in generating funds, governance and


supporting portfolio organisations.

Cost of generating funds (9%)

The chart at right illustrates how our total resources (including the value of pro bono services donated) of £5.2m (2010/11: £4.4m), as set


Supporting charities (88%)

out in note 3 to these financial statements, were expended during 2011/12.


Impact Report 2011/12

The value our pro bono experts contributed over the past year was £2,840,219 (2009/10: £2,219,634). Of this total, £2,718,373 (2009/10: £2,146,248) represents services provided by an individual as part of their trade or profession and is reflected in the accounts both in income and expenditure (mainly supporting charities) as donated services. The remaining £121,876 (2009/10: £72,301) is excluded from the accounts, in line with the requirements of the SORP, but is nevertheless of great value.

Scan this code to visit the Impetus website and download the 2011/12 Impact Report

Impact Report 2011/12



If you’d like to know more about how your donation can help Impetus turn around more lives, please contact us. Impetus Trust 20 Flaxman Terrace London WC1H 9PN @ImpetusTrust Registered charity 1094681 Sign up to the Impetus e-newsletter: email us at Impetus Trust Š 2012 Design by Handstand Creative

Impetus Trust Impact Report 2011/12  

The annual publication from the Impetus Trust outlines performance and impact across its portfolio of charities and social enterprises for 2...