Last week I was in Fort Colins in Colorado, at the annual Big Bang gathering. Thankfully, the weather was delightful so my CA-light wardrobe was not tested for CO-winter readiness—it would have failed…
Big Bang Philanthropy is a collaborative group of like-minded funders who all give at least $1M annually to global poverty solutions, more particularly to “impact driven” organisations. The definition of “impact driven” that we’ve settled on, for now*, is: 1) a clear process around impact, 2) notions for scale, 3) a viable delivery model, 4) a realistic and efficient cost per outcome. Obviously there’s a lot of subjectivity within those 4 aspects.
We make decisions independent of each other, so we all fund some of the orgs classed as Big Bang orgs, and all fund many that aren’t. Sometimes we agree on what the above 4 aspects look like in real life, and sometimes we don’t. But we all share pipeline, insights, and, where we can, reporting (so one org funded by a number of us don’t have to produce just as many reports). Those classed as Big Bang orgs are funded at a certain level by at least 3 of the Big Bang funders who all agree that they meet the above 4 aspects of “impact driven”.
We’re still figuring out exactly how the Big Bang will operate and grow, but it’s a great group to learn from, to share ideas of what works and what doesn’t, and to push each other to be better at the business of philanthropy. The main reason we love Big Bang Philanthropy is because of that last point: we believe it’s a way to focus on becoming a more grantee-centric funding organisation, and for us to draw attention to simple but smart practices of philanthropy like unrestricted funding and multi-year commitments. Music to our ears!
*as anyone who has been involved with collaboratives can attest, coming to agreed upon definitions is a sticky, messy process.