Funding non-profit operations yields higher leverage than direct project donations
Brett Hagler · EP 346: Non-Profit Builds 100+ Homes, Goal 1,000 Communities with Brett Hagler · Jul 5, 2016 · at 4:07
Brett Hagler explains to Nathan Latka why angel investors and VCs choose to fund New Story's operational overhead rather than direct building costs.
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“Okay, I could give 25,000 dollars to call it a home and then the homes are done and it's kind of a sunk cost, right? Or I can give 25,000 dollars so that the team is going to leverage that for better product design, for, you know, engineering, things that will ultimately produce more results.”
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More from Brett Hagler
New Story routes 100% of public donations directly to beneficiaries
“Unlike most charities, we have a model where a hundred percent of public donations goes to the exact people that they see. And then we have a, another bank account that is just for our overhead funding.”
New Story generated over $3M in donations in its first 17 months
“New Story is only about 17 months old
From day one, which was idea, 17 months ago, we've now generated over well over three million dollars in donation revenue.”
New Story built over 300 homes at $6,000 per home
“Yeah, so that's over 300 homes, and each home is about 6000 dollars per home”