South Canterbury’s Impact Club is about to make its first charitable donation.
The concept was launched in the United States about a year ago, and the South Canterbury club is the first international chapter.
Local entrepreneur and Impact Club co-founder Carl Slade was involved with the concept development in the United States, and has introduced it to South Canterbury.
Mr Slade said the concept involved a group of 100 people committing to donate $100 four times a year, with all the money being given to a local charity.
Impact Club South Canterbury’s first meeting will be held on Monday , and three local charities will make presentations to the group, which will then vote on which one will receive the money.
Club members nominate charities to benefit, and three are chosen at random each quarter to present their case to club members.
South Canterbury’s chapter has 80 members, but Mr Slade said he hoped to break the 100 mark within the next week.
The crowd-sourcing aspect of Impact meant donations of $100 added up to a worthwhile amount for a local charity.
“A $100 donation by itself won’t do much. It’s like giving an entrepreneur a hundred bucks to launch a new company. It doesn’t work – $100 isn’t enough. The solution to this problem, in the business world, is crowdfunding.
“The capital of one person can’t bring the idea to life. But the capital ($100 each) of 100 backers/supporters equals $10,000, which absolutely can bring something to life.”
With 100 club members donating $100 per quarter, that would inject $40,000 per year into the local community.
“The best part? Not any one person had to write a $10,000 cheque. But every one of those 100 backers, who wrote the $100 cheque, had the same $10,000 impact.