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FINANCE IN THE SOCIAL ENTERPRISE


The Functions of Financial Structure
What is the Ethical Finance
The Ethical Finance is the savings collection and credit management that meets the following criteria:
It believes that the credit, in all its forms, is a human right;
It considers efficiency as a component of ethical responsibility;
It does not consider legitimate the enrichment based on the only possession and exchange of money;
It is transparent;
It provides for the participation in important decisions for the company not only to the shareholders, but also of savers;
It has, as reference criteria for the uses, the social and environmental responsibility;
It adheres in a comprehensive and consistent manner to the previous principles that guide the activities.
ACCESS TO FINANCE
The finance channels socially responsible/ethical (operators)
They are the people who are merging the resources to the deficit units:
Traditional Banks
Common Funds
- Foundations
MAG (Mutual Self-Management)
Ethical Bank
Others…

The Traditional Instruments
Other Ethical Instruments
The MAG (Mutual Self-Management)
MAG = Mutual Self-Management.
Financial Cooperative Companies.
They are the first ethical financial experience in Italy (1978 May Verona).
They collect between members savings and lend to those in need or to those who propose special projects with social purpose.
They verify the social and environmental impact of projects rather than the secured assets of the fosters. They have a strong link with the territory.
The MAGs administration costs are supported by the difference between the interest rate granted to savers and that paid on loans.
They are not charitable organizations.
The sectors on which MAG involve are: social solidarity, environment and ecology; Promotion/social and cultural entertainment activities.

Being the pioneers of a new idea of the bank, understood as a meeting place, where people and the bank manifest transparency, solidarity and participation making the bank also as a cultural instrument for the promotion of an economy that believes fundamental the social and environmental assessment of its action.
Encourage those who receive the credit to develop the skills, capabilities and autonomy necessary to acquire the economic responsibility, social and environmental.
Ensure the investor regarding the accuracy, management efficiency and the use of credit facilities, attention to the use of resources (sober) and the sharing of revenues, consistent with his expectations.
To act with respect for man and the environment and the cultural specificities of local contexts in which Ethical Bank (Banca Etica), for a better quality of life, consistently orienting the activities of the bank.
Allow access to credit to those of the Social Economy: business, people, and projects valued primarily for their ability to produce "social value."
The European Network of the Ethical Banks
Febea http://www.febea.org/
Ethical Popular Bank; Bank für Sozialwirtschaft; Banque Alternative Suisse, Switzerland; BBK Solidarioa Fundazioa; BISE Bank, Poland; Caisse Solidaire du Nord Pas-de-Calais; Caixa Pollença , caisse d’épargne; Cassa Centrale Casse Rurali Trentine; Charity Bank; Consortium ETIMOS, Italy; Crédal; Crédit Coopératif; Cultura Sparebank; Ekobanken (Se); Femu Qui; Fiare Fundazioa (Es); Hefboom; Merkur; La NEF; SIDI; SIFA; Tise; Fundació Un Sol Món; Vernus (Sk).
Sefea – European Society of Ethical and Alternative Finance
To members of financial and non-financial services

The Ethical Funds
They follow especially the principle of screening (negative and/or positive).
The number of ethical funds offered at European and national level has increased in recent years (Europe: from 159 in 1995-1999 to 313 in the period 2002-2003).
The assets under management is still a small percentage of the total assets managed by mutual funds (0.36%).
Is it convenient to invest in Ethical Funds?
On one hand, the investment is more expensive than traditional;
The higher costs are to be found in the selection ethics: it reduces the possibilities for diversification;
The audits show that the performances are in line with those of other funds and in some higher cases/periods;
How do you explain this extra yield?
For some it is the role of technology companies compared with traditional companies.
ALTERNATIVE FINANCE
The Alternative Finance
The Alternative Finance in Italy
FUND RAISING
The Fundraising is essential
The majority of events organizations live on donations from supporters.
The committee in charge of fundraising is in the last analysis responsible for the lives and well-being.
The organization of the event can assign specific tasks to the Committee, but can not consider it as solely responsible for the organization's financial health.


Key principles of Fundraising
Getting the leadership in fundraising, with the support of the staff (also a volunteer).
Setting goals and do not start with any source that seems to be available...
Searching interested sources and subjects who share the goals.
Developing the relationships.
Before engaging and after asking.
Being aware that the results are directly correlated with the degree of commitment.
The Process of Fundraising
Step 1 - Brainstorm with the Organization
Step 2 – Choose an “x” number of ideas to be pursued
Step 3 - Find out which of the ideas is more advantageous
Step 4 – Working on 1st fundraising idea
Step 5 – To present the idea to the Organization
Step 6 - After the approval get in touch with a company outside the fundraising 
Step 7 - Set the target of Fundraising (individuals and in teams) 
Step 8 - Plan your fundraiser/event 
Step 9 - Assign tasks to members
Step 10 - Keep your fundraising
Step 11 - Evaluate fundraising
Sponsorships
What is a sponsorship?
The sponsorship is "a commitment of money and/or in kind to be paid in exchange for a commercial organization of access to a potential market associated with that organization" (Ukman, 1995)
Benefits for the organization:
Additional money for the organization’s needs 
Gain experience in the "real world“
Benefits for the Sponsor:
Create greater brand awareness
Access to potential customers
Sponsor: how to get in touch?
Identify those who might become sponsors. Do a thorough research to find out as much as possible and ask yourself if:

Do they have money to spend for sponsorships?
Are they sponsor of other event organizations?
Is their eventual sponsorship right for your organization?

In case of presence of sale:
Your task is to convince the sponsors that the benefits they will receive will exceed their cost.



 FINANCE IN THE SOCIAL ENTERPRISE

FINANCE IN THE SOCIAL ENTERPRISE

  What is the Ethical Finance Clic to read



ACCESS TO FINANCE

  ACCESS TO FINANCE Clic to read

  The Traditional Instruments Other Ethical Instruments Clic to read

  What is the Ethical Finance Clic to read

   Clic to read



ALTERNATIVE FINANCE

  The Alternative Finance Clic to read

   Clic to read



FUND RAISING

  Key principles of Fundraising Clic to read

  The Process of Fundraising Clic to read

  What is a sponsorship? Clic to read

  Sponsor: how to get in touch? Clic to read


 ACCESS TO FINANCE



   Clic to read


 ALTERNATIVE FINANCE



   Clic to read


 FUND RAISING



   Clic to read


FINANCE IN THE SOCIAL ENTERPRISE


The Functions of Financial Structure
What is the Ethical Finance
The Ethical Finance is the savings collection and credit management that meets the following criteria:
– It believes that the credit, in all its forms, is a human right;
– It considers efficiency as a component of ethical responsibility;
– It does not consider legitimate the enrichment based on the only possession and exchange of money;
– It is transparent;
– It provides for the participation in important decisions for the company not only to the shareholders, but also of savers;
– It has, as reference criteria for the uses, the social and environmental responsibility;
– It adheres in a comprehensive and consistent manner to the previous principles that guide the activities.
ACCESS TO FINANCE
The finance channels socially responsible/ethical (operators)
They are the people who are merging the resources to the deficit units:
– Traditional Banks
– Common Funds
- Foundations
– MAG (Mutual Self-Management)
– Ethical Bank
– Others…

The Traditional Instruments
Other Ethical Instruments
The MAG (Mutual Self-Management)
• MAG = Mutual Self-Management.
• Financial Cooperative Companies.
• They are the first ethical financial experience in Italy (1978 May Verona).
• They collect between members savings and lend to those in need or to those who propose special projects with social purpose.
• They verify the social and environmental impact of projects rather than the secured assets of the fosters. They have a strong link with the territory.
• The MAGs administration costs are supported by the difference between the interest rate granted to savers and that paid on loans.
• They are not charitable organizations.
• The sectors on which MAG involve are: social solidarity, environment and ecology; Promotion/social and cultural entertainment activities.

• Being the pioneers of a new idea of the bank, understood as a meeting place, where people and the bank manifest transparency, solidarity and participation making the bank also as a cultural instrument for the promotion of an economy that believes fundamental the social and environmental assessment of its action.
• Encourage those who receive the credit to develop the skills, capabilities and autonomy necessary to acquire the economic responsibility, social and environmental.
• Ensure the investor regarding the accuracy, management efficiency and the use of credit facilities, attention to the use of resources (sober) and the sharing of revenues, consistent with his expectations.
• To act with respect for man and the environment and the cultural specificities of local contexts in which Ethical Bank (Banca Etica), for a better quality of life, consistently orienting the activities of the bank.
• Allow access to credit to those of the Social Economy: business, people, and projects valued primarily for their ability to produce "social value."
The European Network of the Ethical Banks
• Febea http://www.febea.org/
– Ethical Popular Bank; Bank für Sozialwirtschaft; Banque Alternative Suisse, Switzerland; BBK Solidarioa Fundazioa; BISE Bank, Poland; Caisse Solidaire du Nord Pas-de-Calais; Caixa Pollença , caisse d’épargne; Cassa Centrale Casse Rurali Trentine; Charity Bank; Consortium ETIMOS, Italy; Crédal; Crédit Coopératif; Cultura Sparebank; Ekobanken (Se); Femu Qui; Fiare Fundazioa (Es); Hefboom; Merkur; La NEF; SIDI; SIFA; Tise; Fundació Un Sol Món; Vernus (Sk).
• Sefea – European Society of Ethical and Alternative Finance
– To members of financial and non-financial services

The Ethical Funds
• They follow especially the principle of screening (negative and/or positive).
• The number of ethical funds offered at European and national level has increased in recent years (Europe: from 159 in 1995-1999 to 313 in the period 2002-2003).
• The assets under management is still a small percentage of the total assets managed by mutual funds (0.36%).
Is it convenient to invest in Ethical Funds?
• On one hand, the investment is more expensive than traditional;
• The higher costs are to be found in the selection ethics: it reduces the possibilities for diversification;
• The audits show that the performances are in line with those of other funds and in some higher cases/periods;
• How do you explain this extra yield?
• For some it is the role of technology companies compared with traditional companies.
ALTERNATIVE FINANCE
The Alternative Finance
The Alternative Finance in Italy
FUND RAISING
The Fundraising is essential
• The majority of events organizations live on donations from supporters.
• The committee in charge of fundraising is in the last analysis responsible for the lives and well-being.
• The organization of the event can assign specific tasks to the Committee, but can not consider it as solely responsible for the organization's financial health.


Key principles of Fundraising
• Getting the leadership in fundraising, with the support of the staff (also a volunteer).
• Setting goals and do not start with any source that seems to be available...
• Searching interested sources and subjects who share the goals.
• Developing the relationships.
• Before engaging and after asking.
• Being aware that the results are directly correlated with the degree of commitment.
The Process of Fundraising
• Step 1 - Brainstorm with the Organization
• Step 2 – Choose an “x” number of ideas to be pursued
• Step 3 - Find out which of the ideas is more advantageous
• Step 4 – Working on 1st fundraising idea
• Step 5 – To present the idea to the Organization
• Step 6 - After the approval get in touch with a company outside the fundraising 
• Step 7 - Set the target of Fundraising (individuals and in teams) 
• Step 8 - Plan your fundraiser/event 
• Step 9 - Assign tasks to members
• Step 10 - Keep your fundraising
• Step 11 - Evaluate fundraising
Sponsorships
What is a sponsorship?
• The sponsorship is "a commitment of money and/or in kind to be paid in exchange for a commercial organization of access to a potential market associated with that organization" (Ukman, 1995)
Benefits for the organization:
• Additional money for the organization’s needs 
• Gain experience in the "real world“
Benefits for the Sponsor:
• Create greater brand awareness
• Access to potential customers
Sponsor: how to get in touch?
Identify those who might become sponsors. Do a thorough research to find out as much as possible and ask yourself if:

• Do they have money to spend for sponsorships?
• Are they sponsor of other event organizations?
• Is their eventual sponsorship right for your organization?

In case of presence of sale:
• Your task is to convince the sponsors that the benefits they will receive will exceed their cost.







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FM_COU1 - English

Finance Management


Training Fiche: 4

Online Course: 5

SDOA

ACCESS, ALTERNATIVE, FOUND RAISING



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