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2017 Social Impact Report

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2017 Social Impact Report EMPOWERING THE NEXT GENERATION OF GIVING 2017 IMPACT REPORT CHAIRMAN’S REPORT 10x10 started as a group of friends coming together with a simple We are doing this in the context of a changing world. vision - to empower the next generation of giving. Critical to Corporations are becoming increasingly focused on how they realising this vision was solving two main problems; (1) finding a can simultaneously engage their employees with purpose meaningful way of engaging our time poor generation in driven work and the not for profit sector. At the same time, the philanthropy; and (2) assisting those innovative, grassroots Generation X and Millennials demographic are set to be “the organisations that are building creative solutions to complex social most significant philanthropists in history”. There is a yearning problems with much needed funding, awareness and support. to be more actively engaged in selecting and measuring impact, now more than ever before. We are experiencing a I am proud of everything we have accomplished at 10x10 and structural shift, a new framework and new world of am constantly surprised by how our organisation evolves from philanthropic endeavours and pursuits. one year to the next. We have created the infrastructure of an innovative social enterprise which has a sustainable and scalable For these reasons the stage is set for the 10x10 model of platform for both engaging a new generation of volunteers and philanthropy to continue to thrive. We are confident that we supporting those grassroots organisations at work in local have built a scalable model for increased impact and are communities across the world. We do not just raise money, we excited by the prospect of launching in the USA as the 10x10 facilitate conversations, raise awareness, we inspire, create movement continues to expand internationally. All of this connections, build capacity for change and sustain a movement would not be possible without the dedicated community of with worldwide reach. In this document, our second impact volunteers, inspirational state ambassadors, generous core report, we describe and quantify this impact. donors, committed board of directors and incredible staff that believe in our vision and our own ability to make a positive This year we spread our movement and reach further by running impact in this world. It only starts with 10. 16 events across Australia, Hong Kong and, with great success, launched our first event in London. As a result, we engaged 1,700 “FOR SUCCESS, LIKE HAPPINESS, CANNOT BE PURSUED; IT MUST new donors, attracted 190 new volunteers, supported 36 ENSUE, AND IT ONLY DOES SO AS THE UNINTENDED SIDE EFFECT OF incredible organisations and channelled approximately $440K of net new money to the sector. ONE’S PERSONAL DEDICATION TO A CAUSE GREATER THAN ONESELF.” - VIKTOR E. FRANKL It has been a transformational year for 10x10. Faced with the challenge of effectively and eciently scaling the organisation, we hired a new Chief Executive Ocer, invested in a scalable technology platform, partnered with worldwide groups to facilitate international expansion and secured crucial funding to maximise our impact whilst ensuring our low-cost operating model is maintained. It is clear by these achievements, and those detailed further in this report, that we are taking things to the next - LAURENCE MARSHBAUM level. CO-FOUNDER AND EXECUTIVE CHAIRMAN, 10x10 2017 IMPACT REPORT 2 TABLE OF CONTENTS 02 CHAIRMAN’S REPORT 13 GOING GLOBAL 04 ABOUT 10x10 14 PARTNERS AND AWARDS 05 HOW WE CREATE IMPACT 15 CHARITIES AND DRAGONS 2017 06 OUR IMPACT 2017 16 COMMITTEES 2017 07 OUR IMPACT ON CHARITIES 17 OBJECTIVES AND OUTLOOK FOR 2018 08 OUR IMPACT ON COMMITTEES 18 OUR TEAM 09 IMPACT STORIES 19 GRATITUDE 12 CHARITY ROADTRIP 2017 IMPACT REPORT 3 ABOUT 10x10 At 10x10 our mission is to empower the next generation of giving. Our model is simple, scalable and cost effective. 10 volunteers form an event committee. Each night ends with a call made for 10x10 HQ provides an event the next volunteer committee and platform and support. the process begins all over again. 10X10 IS POWERED BY PEOPLE AND IS CREATING A MOVEMENT WORLDWIDE Each event raises a minimum of Committees organise the event. They $10,000 and this money is shared source a venue, food, drinks, sponsors amongst the charities. and 3 charities to pitch. The committee members invite 10 friends each who donate $100 per person. A 10x10 night is a cross between a networking night, cocktail party and a pitching contest where 3 charities pitch and the audience decides where to allocate the funds. 2017 IMPACT REPORT 4 Ability to Audience members interactively more aware of HOW 10x10 CREATES IMPACT and directly practice organisations, the What makes the 10x10 model so powerful is that one event can philanthropy issues they’re Increases ongoing addressing and philanthropic activity generate so many points of impact. Our events touch the lives of confident in the impact of their all the people involved from the charities, to committee donations members, the audience on the night and corporate sponsors. Exposure to social issues and brand Creates a sense of awareness of Committee members are engagement In 2016 we engaged impact measurement specialists THE INCUS emerging charities & ownership and their solutions valued for the skills GROUP to assist with developing our theory of change and that they bring to presented this in our 2016 report. This theory of change model is the table pictured below and outlines how our work leads to change and Opportunities to creates impact for our three key stakeholders. learn and develop Increases sense of professional skills pride & satisfaction Committee In 2017 we started to systematically measure this impact via members enhance surveys and interviews with charities and committees (featured in their skills and this report). confidence Opportunities to connect with Enhances & expands In 2018 our goal is to continue to develop and provide more like-minded people Charities are personal dynamic reporting of our impact to our stakeholders. connected to new & professional supporters / peers / networks within volunteers / mentors a socially conscious enabling access to community financial and Due diligence non-financial benefits 10x10 STAKEHOLDER GROUPS process enhances legitimacy of selected charities Contributes Charities build their to increased capacity and knowledge confidence through & professional Unlocks a new pre-event coaching development funding stream and and pitching on the non-financial day support Acts as an EMPOWERING THE NEXT GENERATION OF GIVING accelerator Provides immediate Charities are able to COMMITTEE AUDIENCE CHARITIES financial support expand projects / fast track new ventures 2017 IMPACT REPORT 5 OUR IMPACT 2017 At 10×10 we believe that the way we can make true, deep In the bigger picture, in 2017 we were excited to pass the amazing and ongoing impact is to create a movement for change milestone of raising over $1m of funds for charities. amongst young professionals. We believe in transparency and openness about the work we do and are committed to the ongoing measurement of our work and the outcomes we SINCE 2013 WE HAVE ... generate. In 2017 we put in place a platform and process to ensure we are continuously measuring what we do and the impact it has. RUN A TOTAL OF 44 EVENTS IN 2017 WE … SUPPORTED 450 COMMITTEE MEMBERS RAN 16 SUCCESSFUL EVENTS ENGAGED OVER 4500 NEW DONORS ACROSS 6 CITIES SYDNEY, MELBOURNE, ADELAIDE, BRISBANE, HONG KONG & LONDON SUPPORTED 108 INNOVATIVE GRASSROOTS CHARITIES ENGAGED 1665 NEW DONORS GENERATED 6000 HOURS OF COMMITTEE VOLUNTEER TIME SUPPORTED 190 COMMITTEE MEMBERS CHANNELED $1.2M* OF NEW DONATIONS INTO THE SECTOR GENERATED 3000 HOURS OF COMMITTEE VOLUNTEER TIME REPRESENTING A… 5.1X MULTIPLE OF 10X10 OPERATING COSTS DISTRIBUTED TO CHARITIES SUPPORTED 36 GRASSROOTS CHARITIES * Includes 10x10 and whitelabel events CHANNELED $438,000* OF NEW DONATIONS INTO THE SECTOR 2017 IMPACT REPORT 6 OUR IMPACT ON CHARITIES One of the key impacts of 10x10’s work is to fund innovative, grassroots charities. However, financial support is only one way we contribute to the charities’ development. We know that the 10x10 experience also provides the charities with credibility and exposure to an entirely new network of young professionals. This exposure facilitates new learnings, connections and opportunities with supporters, mentors, donors and corporates. In 2017 we conducted our first formal survey of past charities to ensure we were delivering on our key impact areas. 70% SAID THEY RECEIVED VALUABLE 92% WOULD FEEDBACK AND PITCH COACHING INCREASES ACTS AS AN RECOMMEND KNOWLEDGE AND 75% SAID THEY RECEIVED VALUABLE 10X10 TO OTHER PROFESSIONAL CONNECTIONS AS A RESULT OF THE EVENT DEVELOPMENT ACCELERATOR “Thank you for supporting us through every CHARITIES step and giving me the opportunity to stretch my comfort zone – it was a truly wonderful experience.” - JODIE TUCKWELL- KNIGHT WEAR FOR SUCCESS 85% SAID FUNDS MADE A SUBSTANTIAL DIFFERENCE TO THEIR ORGANIZATION OVER 50% RECEIVED ONGOING ASSISTANCE ”The funds made a substantial difference and ENHANCES AND FROM AN AUDIENCE OR COMMITTEE MEMBER were used to deliver our 16-week mentoring EXPANDS PERSONAL program to several schools who were on our ”Since our pitch we were able to receive pro bono expert waiting list. We expanded from 4 to 15 staff AND PROFESSIONAL advice on our digital channels. Already it has made a and in 2016, I was awarded the NSW Young NETWORKS difference, for the first time ever we had significant online Australian of the Year for my work.” engagement from bereaved fathers around Father’s Day.” - MELISSA ABU GAZALEH TOP BLOKES - KATE COWMEADOW SANDS QUEENSLAND 2017 IMPACT REPORT 7 OUR IMPACT ON COMMITTEES The key mission of 10x10 is to empower and inspire the next generation to get actively engaged in philanthropic activity on an ongoing basis. In 2017 we conducted our first formal survey of past committee members and were delighted to see where our impact had been.
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