8/9/2019 Office of the Third sector

1/15

3(Office of the Third Sector: OTS)

.. 1997 3 (Third Sector) 1 5% (Social enterprise) 2 27,000 3

3 3 (Office of the Third Sector: OTS) .. 2006 (Tony Blair)

1. (Vision and aims)

3

3 3 3

3 (Third Sector) (Supporting the environment for third sector to thrive)

!

1 3 (Third Sector) (Social enterprise) 2 (Social enterprise) Social enterprise 55,000 A social enterprise is a business with primarily social objectives whose surpluses are principally reinvested for that purpose

in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners

definition by Office of the Third Sector.

8/9/2019 Office of the Third sector

2/15

4 3 (Third Sector)1. 3

(Enabling voice and campaigning)2. (Strengthening

communities)

3. (Transforming publicservices)

4. (Social enterprise) (Enabling social enterprise growth and development)

3 (Third Sector) 3 3

2.

(Organization structure)

3 (Office of the Third Sector) (Cabinetoffice)

5 2.1 (Public sector partnerships team)

3

2.2 3 (Participation team) 3 2.3 3 (Third sector support team)2.4 (Social enterprise and finance team)2.5 (Strategy and communications team)

!

8/9/2019 Office of the Third sector

3/15

3. Progress

Futurebuilders

3 Futurebuilders Fund Office of the Third Sector 65 2008 2011 the Social Investment Business

Social Enterprise Awards

Social Enterprise Coalition the Office of the Third Sector, Communities and local

government department for children, schools and families social

enterprise social enterprise

5,000

Social Enterprise Coalition

the Office of the Third Sector Social Enterprise Ambassador programme

social entrepreneur

social enterprise

!

8/9/2019 Office of the Third sector

4/15

4. Resources

3 515 3 2008 2011 130 the Grassroots Grants programme 80 50 local funders

117 the Organisation V 88.5 3 CapacityBuilders 65 the Futurebuilders Fund 30 the Community Asset Fund 10 the Risk Capital Fund (Social Enterprise) 10 community anchor organisations 6 3 the Commission for

the Compact

5 3 5.4 the Regional Development Agencies

(Social enterprise)

4 2 Volunteering fund

5. Social Enterprise Finance

(Social investment) NESTA (the NationalEndowment for Science Technology and the Arts) (Socialinvestment strategy) Bridges Ventures (the venture capital firm)

5.1 (Social investment) (Growth Capital) (for-profit) (Nonprofit) (Grant) (market rate private equity) (Start up stage)

!

8/9/2019 Office of the Third sector

5/15

Venture Capital Venture Philanthropy

5.2

M 1) Private Equity ( ) (exit strategy)

!

8/9/2019 Office of the Third sector

6/15

Cafdirect

social enterprise Fairtrade 1991 4 Oxfam,Traidcraft plc, Equal Exchange Ltd, and Twin Trading Ltd, Cafdirect Fairtrade 2003 Cafdirect (venture capital) Cafdirect (ownership model)

2004 Cafdirect (private equity) 5 Cafdirect Ethex3 Triodos (matched bargain service) 2 15% 4

Cafdirect 4,400 (social return over financial return)

!

3 Ethical Exchange (Ethex) is a kind of alternative stock market for APOs shares (Alternative PublicOfferings) or Ethical shares. It was launched by Triodos bank, who will only be offering a 'matched bargain'service - that is, it will provide a forum for would-be buyers and would-be sellers to get in contact with eachother, and will then help in organising the mechanics of the share transaction.

8/9/2019 Office of the Third sector

7/15

M 2) Social and Community Development Venture Capital Funds

Equity Investment Fund Microfinance

Microfinance 3

Bridges Ventures private investment company 2002 2002 Venture funds social entrepreneurs funds 120 Venture Funds: Bridges Ventures venture fund 2 Bridges CDV (CommunityDevelopment Venture ) Fund I and Bridges CDV Fund II. 25%

Social Entrepreneurs Fund: 2008 social enterprises start up scale up 8.5

!

8/9/2019 Office of the Third sector

8/15

Triodos Social Enterprise Fund: Triodos Opportunity Fund socialenterprise 2009 320,000 Triodos Microfinance Fund: (microfinance institutions and banks) TriodosMicrofinance Fund Triodos 40 19 Triodos 30

c 3) Nonprofit and foundation "PRI" and "MRI" Equity InvestorProgramme-related investment PRI Mission-related investment MRI

PRI

MRI

c 4) Debt/Loan

c 4.1)

!

8/9/2019 Office of the Third sector

9/15

The Co-operative Financial Services the Co-operativeGroup (consumer cooperative) the Co-operative

Bank, the Co-operative Insurance, the Co-operative Investments, the Co-operative Asset Management

the Co-operative Financial Services 1973 2009 5.1 25.8%

!

Charity bank social banking sector2002 socialenterprise

Unity Trust 1984 (Social Enterprise)

14

Ethical bank Triodos 1995 Triodos 13% 2008 Financial Times Sustainable Bank of the Year

8/9/2019 Office of the Third sector

10/15

c 4.2) Foundation PRI Debt PRI

Esmee Fairbairn Programme Charity Bank 10,000 - 250,000 0% - 7% 5

c 4.3) Bonds, Investment Notes and Nontraditional Lending Institution

Social Finance (private sectorfund) 3 Social Finance

Social Invesment Wholesale Bank 2009 The Commission on UnclaimedAssets 2005 unclaimed asset (dormant accounts) 75

Social Impact Bonds (SIBs) Social Finance SIBs premium

SIBs

!

8/9/2019 Office of the Third sector

11/15

Citylife Citylifes Charitable Bonds Citylife 80% Registered Social Landlords (RSLs) housing provider 20% 5 housing provider 5

c 4.4) Equity-Like Capital Deeply Subordinated long-term loan (Uncollateralized)

Venturesome, Aston, Reinvestment Trust, LocalInvestment Fund, Equity Equivalent Investment Equity-Like Capital Calvert Foundation, Good Capital, Social Investment Scotland, Triodos Bank BridgeCommunity Ventures

c 5) Grant Grant

!

8/9/2019 Office of the Third sector

12/15

(Investment) (Consumption)

(High Engagement)

The Big Lottery Fund (BIG) unclaimed asset (dormant accounts) BIG

unclaimed asset 15 lost account Financial Services Authourity

5.3

c c c c c c c

Grant Patient Capital Pure Equity Equity Like Loan

!

8/9/2019 Office of the Third sector

13/15

100% 20-50% 10-20% 10-20% 1-8%

0 -50% - 10% 30 %

5-18%

RepaymentHolidays

5-7

( VenturePhilanthropy)

()

()

Exit Investment N/A IPO, Sale,Layout

Royalty,

repayment

Repayment

Liquidation Right

6.

Community Investment Tax Relief (CITR) 2002 Community Development Finance Institutions (CDFIs) 25%

5 5 % 5 100,000 5,000 5

7.

3

c 1) (Philanthropy)

!

8/9/2019 Office of the Third sector

14/15

(Commercial Activities)

M 2) (Use Philanthropy to unlock market-basedcapital)

tax credit

Soft Capital Leverage

c 3) Private Equity Fixed

income/Debt instrument

Minimized Debt Service-non amortizing principal/and or capitalizing interest

(Deep Subordination - Ability to support other debt)

Exit

http://www.thirdsector.co.uk/

http://www.cabinetoffice.gov.uk/the_third_sector.aspx

http://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.html

http://www.socialenterprise.org.uk/pages/council.html

!

http://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.thirdsector.co.uk/http://www.thirdsector.co.uk/http://www.thirdsector.co.uk/http://www.thirdsector.co.uk/http://www.thirdsector.co.uk/http://www.thirdsector.co.uk/http://www.thirdsector.co.uk/http://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterprise.org.uk/pages/council.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.socialenterpriseawards.org.uk/pages/socialenterpriseawards.htmlhttp://www.thirdsector.co.uk/http://www.thirdsector.co.uk/

8/9/2019 Office of the Third sector

15/15

http://www.communities.gov.uk/corporate/

http://brewing.cafedirect.co.uk/

social enterprise finance

http://www.socialinvestmentbusiness.org

http://www.futurebuilders-england.org.uk/

http://www.triodos.co.uk

http://www.unity.co.uk/

http://www.socialfinance.org.uk/

http://www.charitybank.org/

http://www.co-operative.coop/

http://www.bridgesventures.com/

http://www.esmeefairbairn.org.uk/significant-village.html

http://www.citylifeltd.org/page/115/overview.htm

!

http://www.esmeefairbairn.org.uk/significant-village.htmlhttp://www.bridgesventures.com/http://www.co-operative.coop/http://www.charitybank.org/http://www.socialfinance.org.uk/http://www.esmeefairbairn.org.uk/significant-village.htmlhttp://www.esmeefairbairn.org.uk/significant-village.htmlhttp://www.bridgesventures.com/http://www.bridgesventures.com/http://www.co-operative.coop/http://www.co-operative.coop/http://www.charitybank.org/http://www.charitybank.org/http://www.socialfinance.org.uk/http://www.socialfinance.org.uk/http://www.unity.co.uk/http://www.unity.co.uk/http://www.triodos.co.uk/http://www.triodos.co.uk/http://www.futurebuilders-england.org.uk/http://www.futurebuilders-england.org.uk/http://www.socialinvestmentbusiness.org/http://www.socialinvestmentbusiness.org/http://www.communities.gov.uk/corporate/http://www.communities.gov.uk/corporate/