For the past two years I’ve had the privilege of participating in a local group called the Omaha Venture Group (OVG). Simply put, OVG is a group of young professionals who pool their money and make donations to small, area nonprofits who they feel will be best suited to take the money and do something great with it.
Founded six years ago by Omahan Nancy Mammel, OVG is a giving circle designed to allow young professionals to make a difference in smaller non-profit agencies that are vital to the community but relatively unknown to most donors. Based on the venture capital model of investing, young professionals make small personal or employee-assisted donations — also referred to as seed money — that are then invested into the OVG Grant Fund. Each year, three Omaha private family foundations make a donation of their own that matches the fund’s total. Members’ donations make a bigger impact due to the generosity of these foundations.
This year, Omaha Venture Group collectively gave over $38,000. After months of visiting various organizations, hearing from founders and directors, and deliberating on who should receive funding, OVG granted 10 area nonprofits nearly $4,000 each. These groups, each with annual budgets of less than $100,000 will use the funds to aide them in making a greater impact in our community and taking the next step towards sustainability.
I find two things particularly interesting about OVG, which contributes to why I love being involved. First, the giving circle aspect allows for one’s contribution to have much greater impact. You’re putting $300 in but you’re making a $1,200 impact. This, combined with the pooled monies from other members, allows the group to help a significantly larger number of organizations.
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Second is the idea that you’re “investing” your money in these small nonprofits. This echoes the venture capital process, as many of these one or two person organizations are just getting off the ground. The goal is to find the groups which are close to a tipping point whereby a $5,000 grant could make huge impact. As you listen to the stories of the people who have started these groups, you find yourself enthralled with the founders and what made them passionate about their cause. In the end, no different than investing in a startup, you’re investing as much in the person at the top as you are the organization itself.
OVG will pick up again in the fall and is always looking for new members. It’s a great organization that makes a positive impact on our community. I highly encourage you to check it out. For more information or to become a member, contact Sarah Gilbert at sarah@omahafoundation.org.
