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Overview
editImpetus (registered as Impetus - The Private Equity Foundation) is a UK-based charity, with a mission to transform the lives of young people from disadvantaged backgrounds, by ensuring they get the right support to succeed in school, work and life.[1]
Impetus funds and builds high potential UK-based charities that support young people from disadvantaged backgrounds. It provides these charities with long-term, unrestricted funding and manages co-investment partnerships with individual donors for them.[2]
The majority of Impetus' funding is sourced from donors in the private equity sector and associated industries, the public sector (including the Home Office[3] and the Department for Education[4]), individual philanthropists, corporate foundations and family foundations. These donors contribute through financial donations or by offering pro bono services to Impetus and their partner organisations.[5] Impetus also raises funds through various flagship events, such as the Impetus Triathlon[6] and the Transforming Lives Dinner.[7]
In 2023, Impetus partnered with 25 organisations supporting 392,562 young people from disadvantaged backgrounds in the UK, delivering support valued at £7 million (including grants, pro bono projects and management support from Impetus’ Investment team).[8]
History
editImpetus-PEF was established in 2013 from the merger of two venture philanthropy organisations: Impetus Trust and The Private Equity Foundation (PEF).[9] Initially founded in 2002 under the name 'Impetus Trust' by Stephen Dawson and Nat Sloane,[10] it applied the largest venture philanthropy approach in the UK.[11] In 2006, PEF was established by leaders from the private equity sector, led by Ramez Sousou.[12] Both organisations took a venture philanthropy approach in their work, providing their charity partners with grant funding and the expertise of their internal investment teams and pro bono networks.
The merger of these two organisations in 2013[13] resulted in the formation of Impetus-PEF, which embraced an 'impact first, then scale' approach, with a focus on education and youth employment. In 2019, the organisation shortened its name to the current 'Impetus', reflecting its intention to apply its model more widely than it had done previously.[14]
Charity partners
editSince 2002, Impetus has partnered with more than 80 charities, including organisations such as Magic Breakfast, Place2Be and Resurgo.
Impetus' current charity partners[15] include:
| Charity | Area of work | Joined portfolio |
| Action Tutoring | Education | 2014 |
| Ada | Education | 2021 |
| AllChild (formerly West London Zone) | Education | 2017 |
| Babbasa | Employment, Connect Fund | 2022 |
| Empire Fighting Chance | Education | 2023 |
| Football Beyond Borders | Education | 2019 |
| Generation UK | Employment, Connect Fund | 2022 |
| IMO Charity | Employment, Connect Fund | 2022 |
| IntoUniversity | Education | 2007 |
| Jon Egging Trust | Education | 2022 |
| Khulisa | Education | 2022 |
| Kids Inspire | Education | 2022 |
| MCR Pathways | Education, Engage Fund | 2021 |
| Olive Academies | Education, Engage Fund | 2021 |
| Resurgo | Employment | 2010 |
| School of Hard Knocks | Education, Engage Fund | 2023 |
| Sister System | Employment, Connect Fund | 2022 |
| Streets of Growth | Employment, Connect Fund | 2023 |
| ThinkForward | Education, Employment | 2011 |
| The Access Project | Education | 2014 |
| The Difference | Education, Engage Fund | 2021 |
| The Tutor Trust | Education | 2019 |
| Voice 21 | Education | 2019 |
Funds
editEngage Fund
editIn collaboration with The Henry Smith Charity, Impetus works to decrease the number of school exclusions and enhance outcomes for young people in alternative provision (AP).[16] Over a five-year period which began in 2021, The Henry Smith Charity and Impetus have allocated £3 million in funding to set up the Engage Fund and support selected organisations leading high-quality interventions aimed at addressing school exclusions and fostering more inclusive educational environments.[17]
Connect Fund
editIn 2022, Impetus launched the Connect Fund in collaboration with Bank of America, The Centerbridge Foundation, Allan & Gill Gray Foundation, The Towerbrook Foundation, Sainsbury's, Bain & Company, and The CD&R Foundation, to invest in organisations that work to close the employment gap faced by young people from ethnic minority backgrounds - particularly Black, Bangladeshi, and Pakistani youths in the UK.[18] The Connect Fund further aims to promote systemic change towards a more racially equitable society. This is achieved by building and scaling effective, impact-led employment programmes, delivering a Leadership Academy that develops future leaders from ethnic minority backgrounds working within youth charities, and convening key stakeholders.
Impetus Leadership Academy
editThe Impetus Leadership Academy (ILA) represents the second strand of Impetus' race equity work, following the Connect Fund. It is a leadership development programme aimed at supporting talent from ethnic minority backgrounds within the UK youth sector, facilitating their progression into senior leadership roles and enabling their contribution to the national discourse on issues affecting young people. Since its inception in 2021, the ILA has supported 36 leaders, with two-thirds of participants advancing into senior leadership positions during the year-long programme.[19] The ILA also hosts a panel event yearly, on different topics relating to race equity - previous topics have included "Building truly diverse organisations"[20] and "From non-racism to anti-racism: how leaders can embed anti-racism in their organisations."[19] The ILA holds an annual graduation ceremony for its participants in September.
Organisations and coalitions founded by Impetus
editImpetus has been responsible for founding organisations including the Education Endowment Foundation (EEF) and the Youth Endowment Fund (YEF), coalitions including the Youth Employment Group and the Fair Access Coalition, and supporting the creation of government-backed schemes such as the National Tutoring Programme.
The EEF was established in 2011 by the Sutton Trust in partnership with Impetus[21] as a What Works Centre for Education. In partnership with the EEF, Impetus contributed to the design and implementation of the first year of the National Tutoring Programme, a high-quality tutoring initiative for 250,000 young people, in response to the Covid-19 pandemic.[22] The Youth Employment Group, another organisation established in the wake of the pandemic, and is led by Impetus, the Youth Futures Foundation, Youth Employment UK, the Institute for Employment Studies, the Learning & Work Institute and The Prince's Trust.[23][24] The group was formed to bring together experts in the UK youth employment sector, to advocate for inclusive employment for young people, provide tools and guidance on how to tackle labour market issues facing young people, and drive policy change in this area.
Impetus formed the Fair Access Coalition in 2018,[25] as part of the Fair Education Alliance, to advocate for fair access to university for all young people, regardless of their background.
In 2019, Impetus established the YEF, with a £200m endowment from the UK Home Office.[26] The YEF is now an affiliate in the UK government's What Works Network.
References
edit- ^ "IMPETUS - THE PRIVATE EQUITY FOUNDATION - Charity 1152262". register-of-charities.charitycommission.gov.uk (in Welsh). Retrieved 2024-08-27.
- ^ Ritchie, Matt (2015-08-31). "Impetus-PEF announces £8m venture philanthropy package". Charity Times. Retrieved 2024-08-27.
- ^ "Charity chosen to deliver £200m Youth Endowment Fund to tackle violence". GOV.UK. Retrieved 2024-08-27.
- ^ "Social mobility charities put in charge of fund for the poorest children". GOV.UK. Retrieved 2024-08-27.
- ^ "From boardrooms to classrooms: how private equity powers Impetus' mission". Private Equity Wire. 2024-08-21. Retrieved 2024-08-21.
- ^ Smiddy, Oliver (2014-07-30). "The FT Triathlon, in association with Impetus-PEF". PERE. Retrieved 2024-08-27.
- ^ Robson, Victoria (2015-06-08). "Impetus-PEF and PE donors raise £1.1 million to support disadvantaged young people". Private Equity International. Retrieved 2024-08-27.
- ^ "Impetus | Our Impact". Impetus. Retrieved 2024-08-27.
- ^ "Impetus Trust to merge with The Private Equity Foundation". Private Equity Wire. 2013-01-29. Retrieved 2024-08-22.
- ^ "Philanthropy Impact | Nat Sloane". STATIC. 2019-09-18. Retrieved 2024-08-27.
- ^ Bergamaschi, Cecília. "Impetus - the Private Equity Foundation grants £2.8m to three charities working with young people". www.thirdsector.co.uk. Retrieved 2024-08-27.
- ^ "Ramez Sousou". TowerBrook. Retrieved 2024-08-27.
- ^ "The private equity charity that took its own advice". Financial News. 2015-05-18. Retrieved 2024-08-15.
- ^ "New name, same focus on impact". Impetus. Retrieved 2024-08-27.
- ^ "Impetus | Charity partners". Impetus. Retrieved 2024-08-27.
- ^ Impetus (2021-05-25). "£3m to tackle school exclusions: Impetus and The Henry Smith Charity launch new fund". FE News. Retrieved 2024-08-27.
- ^ "The Henry Smith Charity, Strategic Grants". Henry Smith Charity. Retrieved 2024-08-27.
- ^ https://committees.parliament.uk/writtenevidence/129435/pdf/
- ^ a b "Impetus | From non-racism to anti-racism: how leaders can embed…". Impetus. Retrieved 2024-08-27.
- ^ Impetus (2024-06-26). Building truly diverse organisations | Impetus Leadership Academy panel event. Retrieved 2024-08-27 – via YouTube.
- ^ "Founding partners". Education Endowment Foundation. 2024-08-06. Retrieved 2024-08-06.
- ^ Impetus (2022-07-25). "'The National Tutoring Programme will fail young people unless it reforms'". FE News. Retrieved 2024-08-27.
- ^ "Reflecting on a terrible year for youth employment". CYP Now. 9 April 2021. Retrieved 2024-08-27.
- ^ "What we do". Fair Education Alliance. Retrieved 2024-08-27.
- ^ https://committees.parliament.uk/writtenevidence/120041/pdf/
- ^ Plummer, John. "Home Office awards Impetus partnership contract to run £200m youth fund". www.thirdsector.co.uk. Retrieved 2024-08-27.