TOMS - 2021 impact report review
New year, new impact report. And this week the spotlight is on... TOMS.
👍🏻 3 things I like...
1. THEY'RE HELPING COMMUNITIES HELP THEMSELVES
I love that their giving model supports existing grassroots organisations within communities, rather than taking the paternalistic approach and assuming they (as the Western business) know what’s needed.
They trust that the answers are with the people on the ground.
2. TRANSPARENT
They’re transparent about why they weren’t able to complete their carbon footprint analysis and what their new target completion date is.
3. ADVISORY COUNCIL
They have an advisory council to provide to help guide their grant giving and partnership management. On the face of it this appears to be a diverse and experienced group of people. I'd love to be a fly on the wall for the discussions they have!
❓3 questions it raises
This week my questions are all about one thing - their new giving model.
1. WHY DID THEY CHANGE THEIR GIVING MODEL?
I love their new giving model and have made all sorts of assumptions about why they made this change and why it’s more impactful.
But I’d love to hear about their decision making approach (rather than just having my own assumptions). And I think loads of other businesses could learn from this too. It's such a shame I can't find anywhere that they tell this story, either in their impact report or elsewhere on their website.
2. WHY % PROFIT?
Why did they make the decision to donate a percentage of profits rather than percentage of revenue? I worked with a business that did this in a period when they weren’t making any profits … and so that meant no money going to charity!
In contrast, I listened to Jo-Anne Chidley of Beauty Kitchen UK Ltd explain why they’ve gone for a % revenue approach and how much more certainty this gives the organisations they fund.
3. DO THE ORGANISATIONS THEY FUND RELY ON GRANTS?
Do they give grants that act as catalysts for sustainable delivery of impact? Or will the organisations / communities they fund rely on grant funding to survive and continue to deliver impact?
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You can read the report for yourself here and let me know what you think.
If you’re preparing to write your own impact report, you might find my FREE Impact Reporting Roadmap helpful: