Q: What is the mission of VPF?

A: The mission of the NYC Venture Philanthropy Fund (VPF) is to apply collective investment in support of emerging, entrepreneurial projects focused on tackling persistent social and economic problems throughout New York City.

Q: What is the vision behind the NYC Venture Philanthropy Fund (VPF)?

A: VPF is a giving circle comprised of individuals who pool financial and technical resources to support NYC-based social entrepreneurs for a two-year grant period. The social entrepreneurs must have a mission to eradicate persistent social and economic issues within one or all of the five boroughs.

By joining VPF, people learn more about philanthropy as a vehicle for social change, leverage the impact of individual charitable contributions, connect substantively to the issues they care about within their local community, and participate in a social network of people who share similar interests and values.

Q: What is a giving circle?

A: A giving circle is a group of people who come together to pool financial resources to donate to a charitable cause. In the case of VPF, we are New Yorkers who pool our financial and technical assistance resources to benefit New York City social entrepreneurs tackling persistent social and economic issues within our communities.

For more information on giving circles, go to: http://tinyurl.com/289mnp

Q: What is a social entrepreneur?

A: Social entrepreneurs are visionary individuals with innovative solutions to society’s most pressing social problems. Ambitious and persistent, they tackle major social issues by changing systems, spreading solutions, and persuading entire societies to take new leaps to enact sustainable social change.

Q: Why the focus on social entrepreneurs?

A: Just as entrepreneurs change the face of business, social entrepreneurs act as the change agents for society, seizing opportunities others miss and improving systems, inventing new approaches, and creating solutions to change society for the better. While a business entrepreneur might create entirely new industries, a social entrepreneur comes up with new solutions to social problems and then implements them on a large scale (Ashoka.org).

Q: How can VPF provide the support social entrepreneurs need?

A: While many nonprofit organizations, such as museums and universities benefit from a broader base of individual support, social entrepreneurs have a smaller pool to draw from. As visionary change makers, social entrepreneurs often face the challenge of convincing funders that their idea, while radically different, is a worthwhile investment. Additionally, unlike VPF funds, many grants are tied to stipulations that impinge upon the original mission, thereby compromising the intended change and potential impact.

VPF is a vehicle through which you can support social entrepreneurs. Our mission is to provide two years of financial and technical support to an emerging social entrepreneur without strict guidelines or terms that change the original vision of their project.

Q: How does VPF differ from other giving methods?

A: Unlike most philanthropic organizations that are funded by a single person or family, VPF is a community-based philanthropic initiative comprised of individuals who aim to achieve a greater impact than they could individually.

Q: Why should I join VPF?

A: VPF members have a variety of opportunities to both participate in philanthropic activities that aid their local community and add new elements to their professional repertoire.

• You can help drive VPF by joining a committee. By doing so you become the heart of VPF. We rely entirely on volunteer efforts to complete our mission - so we need you! Go to Committees to learn more.
• You can develop your resume by volunteering your professional skills to a social entrepreneur. Social entrepreneurs may have the vision and courage to act but may lack certain skills necessary to be successful, such as expertise in finance, marketing and sales, web development, human resources, or public relations. By offering your unique knowledge and experience to the social entrepreneur grantee, you are ensuring their future success. Go to Capacity Building to learn more.
• You can bolster your knowledge and experience of philanthropic work by helping to set up and/or attend VPF social events, discussions and presentations about giving, social issues, and the New York City nonprofit community. Go to our Calendar to learn more.

Q: How do I join VPF?

A: Go to our Membership page and click on “Join Now”.

Q: Is a giving circle participant required to volunteer their professional skills as well as the annual contribution?

A: No. While all participants are encouraged to share their hard won professional skills with the recipient of VPF grants, there is no official requirement to do so.

Q: How are members kept informed about the work of VPF?

A: VPF uses all modern technical conveniences to stay in touch with members including email and our website (www.nycvpf.org). We also have periodic opportunities for members to meet and socialize such as Committee meetings as well as all membership discussions and presentations providing additional information about giving, social issues, and the New York City nonprofit community. VPF also has a mandatory fall Annual Meeting in which all members have the opportunity to vote on the organization we would most like to fund and consult in the coming year.

Q: What are the requirements for becoming VPF member?

A: Members make a $365 a year (tax-deductible) commitment per year. Contributions can be made in full or in quarterly installments. VPF will accept corporate matching funds above the $365 commitment from the individual.

Q: Where does VPF keep their money?

A: Financial contributions to VPF are deposited into a Donor-Advised Fund at the New York Community Trust (NYCT). In this way, the funds will be professionally managed until they are granted to chosen social entrepreneurs as directed by VPF members.
We do this for several reasons:

1) VPF is not a registered 501c3. We are therefore legally unable to manage and account for member and supporter contributions.

2) By choosing to deposit our funds into a Donor Advised Fund with NYCT, VPF members and supporters can write off their contributions.

3) NYCT handles all money management logistics such as tax forms and reporting.

For more information please contact us at info@nycvpf.org.