Robin Hood To the Rescue!
Chances are if you live or work in New York City, you are familiar with the Robin Hood Foundation. The organization is truly one of a kind. Founded by hedge fund gazillionaire, Paul Tudor Jones II, long before it was fashionable to give back in a big way, Robin Hood lives up to its mission of alleviating poverty in New York’s five boroughs. But unlike the man in tights from Nottinghood, the foundation doesn’t steal from “the rich to give to the poor.” It solicits the wealthiest New Yorkers from broadcasting, entertainment, the arts, and finance. 100% of donations are invested in the programs. The board picks up the tab for the operating expenses. Beyond that, Jones was one of the originators behind the current trend of applying business principles to nonprofit initiatives – a model picked up and expanded into social entrepreneurship. How do you make a difference, a real difference, to the root causes of poverty and not just toss good money after bad? That is the challenge for Robin Hood programs.
The foundation uses a “metrics-based approach, called relentless monetization, to ensure that the money [it] receives and grants is used most effectively,” according to a book co-authored by Chief Program Officer, Michael M. Weinstein. Its unique approach has influenced a large swath of entrepreneurial philanthropic giving.
At talkIMPACT, we think that Robin Hood Foundation is amazingly cool and effective. We love their mission especially since it echoes our own. We do it through public awareness and media support. RH does it through big bucks investments in working models. Wish we could clone it. In the meantime, here are a few ways that you can support this awesome platform.
ROBIN HOOD INITIATIVES