New Story uses 100% of public donations directly for home construction
Brett Hagler · 3D Home Printing for the Developing World – Alexandria Lafci and Brett Hagler of New Story Charity · Y Combinator · Apr 4, 2018 · at 10:11
Brett Hagler, co-founder of New Story Charity, explains the nonprofit's funding model during an interview on the Y Combinator podcast.
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“100% of what you give will go towards building the house. Well, it's not going to cover any of our overhead, and we do that by having a couple private donors that fund all of our overhead, like private investors, basically.”
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A major humanitarian group raised $500M but built only six houses
“It was one of the largest humanitarian organizations, like a bunch of big headlines came out that they raised basically like half a billion dollars and within like six years had only built, and this is not an exaggeration, I think like six houses. That's like …”
Nonprofits should operate with the same principles as tech startups
“Like we believe there should be no difference in how a nonprofit operates.”
3D home printing can reduce construction costs from $6,500 to $3,000
“So right now our homes on average are about 6500 dollars per home. We believe with three D home printing, we can get that down to about 3000 dollars over time, not in the beginning, but over time,”
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“We want to prove that in our communities and then not keep that for new story. Right? Like, not like, oh, this is RIP, like, sorry guys, like, we've got this three D printer. But then open source or democratize that with all the other nonprofits and government…”