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My Colorado™
Voting Summary (Elevator Pitch):
Rather than seeking a gift from those with means, My Colorado™ offers young people the means to give! My Colorado is a social networking tool engaging young Coloradans in philanthropy and community engagement.
Supporting organization:
Community Shares of Colorado
URL:
www.cshares.org
City:
Denver
State/Region:
CO
Country:
USA
Project Vision Statement & Potential Social Impact:
My Colorado engages tomorrow’s donors today by inspiring thoughtful community investment and leadership in Colorado’s next generation of philanthropists. The purpose of My Colorado is to better address the needs and interests of young (22-39 year olds), entry-level donors in Colorado and to expand the definition of “philanthropist” to include all people who give. My Colorado will engage young people in basic philanthropy, service on a nonprofit board of directors, and community volunteerism.
Sustainability (financial) model:
It will cost Community Shares approximately $30,000 per annum to run My Colorado for the first few years. The sources of revenue will be: $5,000 Donors; $5,000 Community Shares investment; $10,000 Sponsorships; and $10,000 Foundations.
Sustainability starts with community wide acceptance and investment. Community Shares has partnered with the following organizations on various aspects of launching My Colorado:
- MetroVolunteers
- Young Nonprofit Professionals Network
- Denver Metro Chamber of Commerce – Impact Denver
- Colorado Black Chamber of Commerce – Chamber Connect
- Community Resource Center
- Denver Foundation – Nonprofit Inclusiveness Initiative
- Social Venture Partners Denver
- Young Philanthropists Foundation
- Gay and Lesbian Fund for Colorado
- Kroenke Sports Enterprises
- Exclusive Resorts
- The Fuel Team
Potential obstacles:
The primary obstacle in a successful implementation is to not achieve critical mass in our initial outreach efforts to young people the community. We need to make sure we have the right network of people to roll it out, fresh web content, new opportunities, and interesting social networking venues.
The secondary obstacle is obtaining the necessary funding. However, the initial response from potential funders has been very positive.
Resource Needs:
Powerful social networking and consumer philanthropy focused web tool.
A large network of engaged, connected young community leaders.
Interesting venues for social networking events.
Logo and graphic design of collateral marketing materials.
Printing of collateral marketing materials.
PR and Marketing support.
60 second video clip.
Key Milestones:
By creating an effective web tool with the functionality that appeals to a younger generation as well as launching social networking events as part of our “high tech, high touch” approach to My Colorado we expect to accomplish the following: PRIMARY PROJECT GOALS: 1) Raise $100,000 designated to various nonprofits and issues per annum; 2) 400 Automated Giving Plan (AGP) participants by 2009; and 3) 50 My Colorado participants serve on a local nonprofit board of directors by 2009.
Rollout Steps: March - July 2007
- Establish an Advisory Council of service providers, consumers, and key communication hubs.
- Build a philanthropic user network site: www.mycoloradoproject.com A very early, raw, beta demo site is: http://npdemo.dev.dvcotechnology.com/node/22
- Develop an interactive Personal Philanthropy Plan tool.
- Create network “RIPPLE” events.
- Launch marketing plan (PR and Ads)
- Planned Official Launch: September 1, 2007
Project Summary:
In looking ahead to the future of philanthropy in Denver and Colorado, there is unique promise. Almost one-quarter of the Denver Metro population is in the 25- to 39-year-old age group, making Denver a city with a post-Boomer population 17.5% greater than the national average. Combined with the fact Colorado has one of the highest populations of citizens with a bachelor’s degree or higher in the U.S., the 25- to 39-year-old age group in the Denver Metro area is a market with the size and means to make a significant impact on community investment. My Colorado reaches out to those in this demographic who are invested in the community but seek a user-friendly program to take their first steps as a philanthropist. The need for new givers is already widely discussed in the philanthropic community.
As Boomers (those born between 1946 and 1964) enter their peak giving years, the nonprofit sector must plan for the future by engaging young donors to be part of the support infrastructure. Across the political, economic and social spectrum, the interests of the Boomer Generation are a strong influence on culture change. However, the post-Boomer generations, especially young, first-time and online donors, are showing signs of deviation from traditional fundraising methodology. My Colorado removes entry barriers such as a high-level one-time membership fees and niche beneficiaries while providing an easy, accessible pipeline for new community leaders to enter the philanthropic community on their own terms with a ready made connection to investment opportunities with vital nonprofits and issues.
Philanthropic leaders are widely discussing the need for new donors, nonprofit executives, and board members. The development of the next generation of philanthropists and community leaders is essential to the local culture of giving.
The My Colorado community involvement program, RIPPLE, is a 6-step program for young donors. Components include: (1) responding to the call to action for new donors; (2) making an initial financial community investment; (3) creating a personal philanthropy plan; (4) participating in leadership training and volunteer projects; (5) becoming a leader through board membership and corporate citizen training; and, (6) engaging new participants into the program. My Colorado responds to the consumer-driven, networked culture and offers on-line, “retail philanthropy” to engage young donors in accessible, chosen, community change. It will:
- Engage young Coloradans (24 - 39 years-old) in basic philanthropy, nonprofit board service, and community involvement.
- Recognize young donors giving less than $500 per year are a compelling, underserved audience.
- Better address the needs and interests of young donors by introducing on-line, “retail philanthropy.”
- Diversify and increase the philanthropic community’s participant pool.
- My Colorado leverages the extraordinary accessibility and cost-efficiency provided by technology to serve young, entry-level, philanthropy consumers:
o Online communication/cultivation between provider & user.
o Automatic financial transactions.
o Viral communication between users and prospective users.
o Powerful social networking website tools and events.
