Angel Charity Spotlight: YGAP
We caught up with Sarah Hornby, Head of Philanthropy at YGAP, to discuss her responsibility in raising funds to support her programs/maximizing YGAP’s impact through the application of cryptocurrency alongside Angel Protocol
What does YGAP do?
YGAP creates positive change by making entrepreneurship inclusive.
We work with ‘missing’ entrepreneurs — important segments of the population under-represented in entrepreneurship because they face barriers to launching a business.
These include economic or social status, where an entrepreneur lives or who they are.
We work directly with entrepreneurs, increasing their capacity and agency to run successful businesses.
And we reduce barriers to access and inclusion by increasing access to finance, markets and support systems.
How did you/the charity get involved with ‘crypto’ giving?
My husband suggested YGAP look at Angel Protocol. He was doing some research about crypto and fundraising and saw it as a great opportunity for us to dip our toes in the water, in an emerging area of philanthropy.
To date, the process has been simple and reassuring. With very little exposure to crypto, I’ve appreciated the meetings we’ve had to understand how Angel Protocol works — and also the ability to join early, watch developments and slowly develop our strategy and thinking about growing the endowment over time.
Had you ever used endowments before?
As a relatively small organization, having seed funding for a traditional endowment fund or the surplus cash to grow one over time was simply beyond our reach.
As a fundraiser, having an untied passive income stream from an endowment is highly appealing to complement our other revenue streams. This kind of funding enables us to test innovative pilots as well as invest in YGAP as an organization, which can be difficult to fundraise for on its own.
If Angel Protocol can set us on this pathway over the long term, it’s an opportunity we need to take.
How has Angel Protocol experience been so far? What have you been able to do?
So far, we’ve used the platform as a learning opportunity. With funds steadily rolling into our endowment fund through the Angel Alliance, we’re able to watch it grow and develop — essentially, without taking any risk.
We’re also able to see how Angel Protocol is developing and that gives us time and space to think through how we might market to specific donors going forward.
As the fund grows, more funds will be available in the liquid account for YGAP to use on projects with urgent funding needs. If you want to donate now, you can directly on our Angel Protocol marketplace page.
How do you think Angel Protocol will be able to benefit your charity in the future?
While YGAP is new to crypto — crypto and blockchain technology more broadly is certainly not new. Nor is it going anywhere. We feel philanthropy needs to keep pace with innovative approaches to fundraising, and we see our relationship with Angel Protocol as part of that journey.
We also know some of our donors are using crypto and we want to meet them where they’re at — giving an opportunity to use earnings for good. What better investment is there than changing the world one entrepreneur, one business at a time?
Our endowment is a long term strategy. It’s a passive income stream that requires few resources from YGAP. In the future, if we could grow it to a significant size, it will provide certainty for underrepresented entrepreneurs everywhere. Certainty that our programs will run, certainty the support they need will be there — and certainty of a level playing field for businesses with purpose.
Any advice for other charities looking to get involved with cryptocurrency or Angel Protocol?
The world of crypto is overwhelming. Those involved with it love it, and those outside of it don’t understand it. I count myself in the latter group. However, the world is changing, as is philanthropy, and it’s clear that to capitalize on this new funding pool charities need to be part of the crypto landscape. To learn something new, often the easiest way is to get involved. Learn through doing. Angel Protocol is providing YGAP with a safe space to do that.
Do you have any immediate needs or plans for using the funding?
At the moment we urgently require funding for our YGAP Kenya Program.
This exciting program is also our largest running since YGAP started 13 years ago. It will support 25 game-changing Kenyan entrepreneurs running businesses addressing social and environmental problems as aligned to the Sustainable Development Goals (SDGs).
The participants are expected to increase their revenue by 70% year on year, as well as generate at least 60 new full-time jobs in Kenya.
The Kenyan team is amazing and run an in-depth accelerator and support program helping entrepreneurs to refine their business models, validate long-term viability, and ensure financial sustainability.
To date, YGAP has helped over 550 impactful businesses across the world.
How do people find out more? About what you do? do you have any social media links?