7 Reasons to Invest in a Volunteer Program

May 20, 2022 | 34 views

Volunteer Program
Volunteers are the lifeblood of any nonprofit. Your services, fundraising campaigns, and even day-to-day operations of your nonprofit can depend on volunteers.

An estimated 30 percent of Americans or 77.9 million people reported they volunteered for an organization or association.”

AmeriCorps published survey

So, if people want to volunteer, the key to garner willing volunteers is to:

  • Communicate your needs
  • Share your “why”
  • Make it easy

While all nonprofits know they need volunteers, investing time and energy into building a program can naturally fall by the wayside. As you look to recruit and retain volunteers, a best practice is to put a strategic volunteer program in place.

You may be asking, “What’s the benefit to me, the nonprofit?” Let’s dive into it!

First, let’s start with the basics — what are the top reasons to invest in a volunteer program? We’ve got you covered. A dynamic volunteer program:

  1. Creates ambassadors for your mission. Volunteers spread the word in your community and increase your community engagement. They can advocate for you with their friends, family, and local and state legislatures. Provide your volunteers with messaging so they can share their “why” on social media and by word of mouth. One pro tip shared by Points of Light is to provide a digital badge to add to your volunteer leaders’ email signatures.
  2. Develops new funding sources. The line between a volunteer and donor should be fluid, not separate. A 2014 study by Fidelity Charitable found that 83% of volunteers report supporting the same nonprofits with their donations. Don’t silo your volunteers and your donors!
  3. Reduces your operating costs. According to the Independent Sector, the value of a volunteer hour was estimated at $28.54 in 2020. Since payroll is often the largest expense for a nonprofit, volunteers provide essential support to your cause with minimal costs to you.
  4. Increases the quantity and quality of your programs and services. It’s a win-win situation for professional development and your lengthy project list! That list will be met by an eager, talented volunteer, and your volunteer will improve their professional skills at the same time.
  5. Maximizes your limited staff resources. We’re sure there’s been a few items on your wish list that you’d love to check off if you had more resources, like being open on holidays or offering more services to your community. Volunteers can fill in those gaps! Maybe they are looking for ways to give back over a holiday, or they may have the connections to develop a new service opportunity for you.
  6. Increases your diversity and brings in new ideas. Although your nonprofit may always strive to diversify or get out of the “we’ve always done it this way” rut, you may not meet the potential of those goals with your staff. Volunteers can provide unique perspectives, different experiences, and even that spark of excitement that comes with a new idea.
  7. Minimizes volunteer turnover. Just like staff onboarding, volunteer onboarding takes time and money. If you recruit and onboard well with easy-to-access opportunity matching, training, and tracking mechanisms in place, your volunteers will be well on their way to a successful experience. Build on that by learning more about your volunteers’ interests and skills, and they will feel seen and appreciated. An upfront investment will pay off in years of dedicated service.
Are you convinced? If so, it’s time to take the next step of how to start putting a volunteer program into place. Then you can scale your volunteering as your nonprofit grows!

Here are our 5 fundraiser-approved steps to developing a bullet-proof volunteer program.

Step 1: Quantify your current volunteer impact.

Gather data on number of volunteers, hours and skills contributed.

Measure the return on investment (ROI) including your program cost and total estimated volunteer value (# of volunteer hours x est. volunteer wage per hour). You can even take it a step further and consider the monetary savings to the community when volunteers provide the service or in-kind donation versus a private provider (e.g. number of children tutored or trees planted).

Step 2: Educate your staff and board on the benefits of volunteering.

Share your ROI and other data with your executive team and board and garner to get them on board. Recruiting, onboarding, engaging, and retaining your volunteer base will be much smoother when you have their support.

Step 3: Purchase or build a volunteer management software system.

Track volunteer hours, record your volunteers’ information, and create reports. Your software/tracking system should include a personalized volunteer dashboard where they can track their hours and volunteer services provided, demonstrating to them their impact in real-time.

Step 4: Develop a plan for recruitment, training, and growth opportunities for your volunteers.

Share the plan with your current volunteer leaders and solicit their feedback before rolling out to the community.

Step 5: Make the case for even more investment in your program next year.

Give insight into how your efforts to recruit, engage, and retain volunteers positively impact your mission and your bottom line.

Spotlight

Philanthropy in Motion

Philanthropy in Motion (PIM) empowers young people with the education, resources, and networks to become mission-driven leaders and effective changemakers. Our vision is to change society’s traditional definition of success from financially-driven to impact-driven.

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NONPROFIT MANAGEMENT

Utilize an Email Marketing Strategy to Drive More Donations

Article | July 14, 2022

When creating your nonprofit fundraising and donations strategy, email marketing should be on the top of the list of channels to use to support your efforts. However, 70% of nonprofits do not have an email marketing strategy, despite 26% of online donors saying email marketing is what inspires them to give. Email marketing can help nonprofits reach their fundraising goals by helping expand reach, develop a loyal donor base and drive more donations. Build an Email Marketing Strategy Implementing email marketing may seem intimidating to some, but once you have an effective strategy in place, it will act as a blueprint and support all your goals moving forward. When you start building your strategy, it’s important to spend time developing a unique strategy that aligns with your mission and goals. Consider these questions: Who is your target audience? How are you collecting email addresses? What types of emails will you send? What types of content do you want to share in those emails? What will your emails look like? What is the layout? What is the design based on? How often do you plan to send emails? What platform will you use? Does it integrate with your donor database and have all the features you need to implement your strategy? Email marketing is the most effective and successful when there's a strategic plan in place. Creating a detailed strategy that answers the questions above will provide your nonprofit with the stepping stones needed to set your email marketing efforts up for success and help meet your overall fundraising goals. Send Emails Once you have a strategy and execution plan in place, you’re ready to start sending your messages to your audience. Email subscribers want to hear from you, but you need to be sure you are sending engaging messages to the right audiences. When you start sending your emails, plan to send a mix of different messages to your audience. Email marketing is an effective channel to not only fundraise but to help subscribers stay engaged and keep donor retention high. A great example would be to include advocacy emails in your plans. Advocacy emails include newsletters and impact stories. These types of emails help your subscriber feel valued as a donor as they’re seeing the direct impact of their support. As you start and continue to send emails, always track each email's performance. This helps you determine what is working and what is not working. By tracking key metrics, like click-through rates, conversation rates and donations per email, you will be able to continuously improve your strategy and the emails you are sending. Follow Best Practices As you begin to execute your email strategy, there are a few key best practices I recommend following to help increase engagement, donations, and overall performance of your emails. Personalize the email for your subscribers. Personalized emails can generate donations up to six times more compared to a generalized email. Make sure your emails are well-designed with compelling imagery that helps the donor visualize your mission and the impact of their donations. Provide clear calls to action in each email you send and always include a “Donate” button in all your communications. Include social sharing buttons and links to your social channels in all your email communications. Emails with social sharing buttons increase click-through rates by as much as 158% and help expand your reach by allowing donors to recommend and share your nonprofit with their network. Create an email cadence so you are regularly communicating with your audience throughout the year. For every 1,000 fundraising emails delivered, nonprofits raised $78, so it is in your best interest to continuously send messages to your subscribers. Start by sending emails monthly and then experiment with increasing the frequency of emails per month and see what works best for your nonprofit. Utilizing email marketing is key to having a successful fundraising strategy for your nonprofit. By building a well-thought-out strategy and implementing it, you will be able to engage, retain and convert subscribers into a loyal donor base.

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NONPROFIT MANAGEMENT

The Psychology Behind Donations

Article | July 13, 2022

Are you expecting all donors to be the same? If you answered “no…well actually… kinda,” then you are not alone. It’s simple to send out the same fundraising message to everyone. However, you can transform your fundraising when you understand that there are many reasons why a person chooses to donate to a nonprofit. Once you understand the psychology of donating to charity, you can then best appeal to current and potential donors. Why do Donors Give? Along a spectrum, there are two extremes that prevent nonprofits from using donation psychology in their fundraising messages. On one end, the person making the ask – the Executive Director, Development person or Board member – assumes all donors have the same motivations for giving that they do. This translates into single-focused messaging that appeals to the person making the ask and to some donors, but not to others. On the other end of the spectrum when a nonprofit neglects philanthropy psychology, the person making the ask becomes paralyzed. They fear offending donors by asking at the “wrong” time. They focus on external, societal crises, such as the pandemic, wars, tragedies, and make a decision for the donor that this is the wrong time to be asked for a gift. They assume that the donor would be offended if asked. The Millennial Impact Project studied why donors across generations start giving. Unexpectedly, according to the researcher, Derrick Feldmann, donors first give because they want to belong. They desire to join their friends or be a part of a cause doing the good they wish to see in the world – this is before they understand what the cause or nonprofit is seeking to accomplish. As they gain that sense of belonging and begin believing in the cause, they can be motivated to continue to give when the nonprofit taps into their giving style. The Seven Faces of Philanthropy was groundbreaking research published in 1994 that has been updated and is still relevant today. In summary, the researchers found that donors give for different reasons. Some donors give because they enjoy the act of giving, especially through events. More donors prefer to donate to local charities or make a long-lasting impact through their investments. Other donors desire to repay or pay forward in gratitude through their giving. Others give because of religious or altruistic reasons. Then, there are donors who see giving as a family tradition and, if applicable, to teach their children generosity. Understanding the donor’s motivations for giving guides a nonprofit in developing the right message, using the right fundraising methods and segmenting to the right group of donors. How Can you Encourage Your Donors to Give? Now that you understand the psychology behind making a philanthropic gift, you can implement this knowledge to customize your fundraising appeals. First, you will need to determine why your donors give. This is done through discussions with Board members, personal conversations with donors, and through donor surveys. It begins with a simple question, “Why do you give to…?” The answers will assist you in creating donor identities; that is, the types of identities or groups where donors wish to belong. Sample identities could be “community leader” or “survivor” or “change maker.” Next, based on what you learned from your current donors, pick the top two or three donor motivations and associated identities. Alter your current messaging and fundraising methods to these giving reasons. The messaging and methods that inspire your current donors will likely attract more donors. Begin testing your messaging for these two to three reasons: Which message has the highest engagement in response and donation? This will be your primary message that you will rotate with the secondary messages. As you further explore your donor’s psychology for giving, you can advance to segmenting your communications based on what will motivate groups of donors to give. Once you understand donor psychology, you will wonder how you missed the clues to why your donors give – and be ready to catch future donors by staying one step ahead of their giving habits.

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NONPROFIT MANAGEMENT

How Donor Data Can Inform Better Donor Experiences

Article | July 11, 2022

Although we recommend talking directly with your donors to learn what matters to them, one-on-one conversations aren’t the only way to gain valuable information about your donors. Through analysis of the donor data in your fundraising software, you can obtain insights that will help you create a better experience for your donors, and motivate them to give more over time. Here’s what you can learn from the numbers and how you can apply this knowledge to improve your donor experience. Biographic and Demographic Information: This particular donor data isn’t snazzy, but it provides you with important tools to use in donor communications. Here’s what you can do with it. Preferred Name: Even something as simple as addressing your donors by their preferred names or nicknames will go a long way toward building a meaningful relationship. Employment: Improve the timing of your emails by sending to full-time individuals when they’re at work. Age: Millennials are more likely to check social media or text messages for communications, while Baby Boomers are more likely to use email or even snail mail. A multi-channel communication strategy, however, is the best thing to help you reach your donors where they’re at. Educational Background: While someone’s education level may provide insights about their capacity to give, consider looking at what your contacts were involved in while in school. Did they join clubs that provide a clue about their interests? Did they hold certain leadership positions that tell you what they’re committed to? What community service projects were they active in? This information can help you customize your communications more meaningfully. Involvement History: Monetary giving isn’t the only indicator of a donor’s interest in your organization. When you’re putting together your campaign lists, don’t forget to look at other historical indicators as well. Note: If you’re already using Network for Good’s simple, smart fundraising software, demographic details, like the ones above, need to be individually added as “Custom Fields” to a constituent’s record. Involvement in Advocacy Work: If an individual advocates for charities or causes, he or she is usually serious about making a difference and seeks to do so in other ways. Corporate Sponsorships: If someone has organized a corporate sponsorship for her or his place of employment, the individual has demonstrated a willingness to go the extra mile foryour organization. Showing Up at Events: If you have regulars who appear at your events, they’re prime candidates to get more involved. An events platform that integrates directly with your fundraising software can be a key tool here in making sure you’re following up with the right people. Network of Connections: Prospective donors will always be more willing to respond if a friend or business connection has introduced your organization to them. If you think an individual would be willing to contribute to your nonprofit, look at who in your donor database is connected to that person and ask for an introduction. This strategy can also be used for raising corporate sponsorships. Hobbies: Hobbies and interests will tell you who’s most likely to participate in your events. They’ll also give you ideas about what types of events will be most popular with your contacts. Here are a few ideas: Games: Trivia night, bingo, or board games. Outdoors: Run/Walk, golf or fishing tournament, or softball. Food & Drink: Wine tasting, celebrity chef or bartender, or profit share at a restaurant. Music: Benefit concert, talent show, or Battle of the Bands Arts & Culture: Group night at the theatre, charity poetry reading, or author meet-and-greet. Timing of Gifts: When do individuals give? If someone tends to make donations at a certain time of year, your request will probably be welcomed (and successful!) if you ask at that time. Using tools such as the “Giving” filters to conduct donor analysis can help determine if there are trends around a particular time of year for one (or multiple) donors – and knowing the timing of gifts will also help you spend your marketing dollars more wisely. If someone has given within a year-long time period, that person is much more likely to give again than someone who gave two years ago. You can allocate your marketing resources more intelligently if you know who is more likely to donate. These are just a few ideas on how to use your data to not only build a stronger donor experience but also increase your fundraising revenue. Learn why the donor experience is vital to a successful organization and how to implement an effective donor experience program by downloading “A Better Donor Experience: Is it the Cornerstone of Donor Loyalty?”

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FUNDRAISING

Using Social Media in Peer to Peer Fundraisers

Article | May 25, 2022

Much of the nuts and bolts of fundraising costs money, and expenses can impact your organization’s bottom line. Still, many successful nonprofits have enjoyed robust giving in recent years due to one relatively inexpensive method to exploit: social media. We’ve become much more familiar with the various social media platforms recently; if the pandemic showed us anything, there is connective power to social media platforms. From the comfort of our homes, we can engage with people and organizations in our hometowns and far away places. If you are fundraising for a nonprofit, this connectivity is one way to attract new donors, cultivate current donors, steward your donors, and, ultimately, encourage gifts from friends new and old. Through peer-to-peer social outreach, the most impactful online connections are made, just as in “real life” fundraising. Peer-to-peer fundraising can look a few different ways. One way is by encouraging your supporters to set up their own fundraiser pages. Some fundraising softwares make this easy by allowing a person to set up their own campaign. All of a sudden, their network becomes your network, too! Understanding the Best Platform for your Organization Another way of tapping into peer-to-peer power is through social media. How can social media help attract new donors? First, take an inventory of the social media accounts associated with your organization. Do you have a Facebook page? LinkedIn? Instagram? TikTok or Twitter? Find someone savvy within your nonprofit – or a friendly supporter – to help you determine if all of these (or some of them) are a good fit for your nonprofit’s personality and mission. Do you serve an adult client base? Facebook and Instagram might be good starting platforms for you. Does your organization help teenagers? Post to Instagram and TikTok. Perhaps a professional LinkedIn page is more in line with what you do. If so, make sure it is up to date and that you are interacting with other like-minded organizations! Organizing Campaign Content for Donors Once you have your platforms figured out, pushing organizational content that highlights your group’s work and mission will help you attract new friends and cultivate your loyal supporters. Think about posting entries that highlight the work you do in short sentences and compelling pictures, and think about posting on some kind of schedule. Perhaps you post about programming on Tuesdays and feature a client or member on a Thursday. Mindless posts are not compelling – make them relevant, interesting or clever, and tactical. Overwhelming the social media feed is not the goal – compelling content which drives social media users to your organization to learn more is. Peer-to-peer social media fundraising often begins with peer-to-peer content sharing. Once you have a handle on the kinds of posts your organization will create – and when they’ll be pushed out – you must leverage the power of social media connections to help further your organization and its case for support. Encourage all of your staff and Board members to “friend” you on the various platforms, and encourage them to boost your content by sharing it with their networks. Do you have an event coming up? Be sure to get this out to your social media contacts and ask them to share it. Has a donor been particularly generous, and can you feature them in a social media post? If you can do so, “tagging” the donor will, in many instances, automatically push your content out to their networks. The reach becomes massive with the right connections. Leveraging Peer Audiences Cultivation and stewardship of your nonprofit’s loyal supporters are very easy on social media. Pictures and words of gratitude or recognition are simple to post and can demonstrate your organization’s impact far beyond the reach of any email or mailing list. Finally, social media’s usefulness in fundraising cannot be overstated. Create virtual events that allow friends to RSVP and share them with their networks. Use Instagram to push out the publicity about the fundraiser – any promotional materials you may have or can create – to manufacture some “buzz” about the event. Utilize TikTok to showcase aspects of the fundraiser: perhaps highlight a program that the fundraiser will benefit or a behind-the-scenes of the event planning. There is no need to restrain creativity – give viewers a reason to return to your site, your event, and your nonprofit!

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Spotlight

Philanthropy in Motion

Philanthropy in Motion (PIM) empowers young people with the education, resources, and networks to become mission-driven leaders and effective changemakers. Our vision is to change society’s traditional definition of success from financially-driven to impact-driven.

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Faraday Future Announces New Funding

FARADAY FUTURE | August 16, 2022

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful execution of a definitive agreement for a new financing facility. The Company continues to have active discussions with multiple capital providers for potential significant additional near-term funding. Under the new financing facility, which contemplates total potential funding of as much as $600 million in a convertible secured notes structure, Faraday Future will receive an initial $52 million of committed funds. Funds managed by ATW Partners, a U.S.-based institutional investor, led the transaction. Investors contributing $27 million (plus up to $31 million from additional investors who commit on or prior to August 17, 2022 and fund on or prior to August 19, 2022) will receive a conversion price of $2.2865 per FFIE share, later contributions will receive a conversion price of $2.69 per FFIE share. All investors will receive 33% warrant coverage with an exercise price of $5.00 per FFIE share. The facility is structured to allow for additional investor participation on similar terms. Other terms can be found in our 8-K filing dated August 15, 2022. Citi served as placement agent, and Sidley Austin LLP served as legal advisor to the Company. Blank Rome LLP and Ellenoff Grossman & Schole LLP served as legal advisors to the lead investor in the fundraising. The Company remains in active discussions with both U.S. institutional investors and international funding sources. These discussions may or may not lead to additional funding commitments beyond what has already been executed. The Company will provide further updates on financing negotiations as appropriate, and upon the conclusion of any additional definitive agreements. “I am very pleased to have this important new committed capital and framework in place for substantial additional funding. We are working diligently to complete this capital raise process in order to raise sufficient new funds to launch the FF 91. Subject to successful completion of this fundraising process, I am confident that we can deliver cars to our customers in late Q3 or Q4, Our Hanford manufacturing facility, recently renamed the “FF ieFactory California” is nearing completion. We have all the equipment on site needed to begin production and are in the final stages of installation. The FF ieFactory California has already produced over a dozen production-intent vehicles. Testing and validation of the FF 91 is well underway, and I am very pleased with the results we are seeing. The FF 91 will be the world’s first ultra-luxury EV and will reset customer expectations for what the future of intelligent mobility can be.” -Dr. Carsten Breitfeld, Global CEO of Faraday Future. ABOUT FARADAY FUTURE: Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since its inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

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Inteleos Foundation Formed to Improve Global Patient Safety

Inteleos | August 09, 2022

Inteleos, a non-profit global healthcare certification organization, today announced the launch of the Inteleos Foundation with the mission of improving patient safety around the world. The Inteleos Foundation was established to assure patients have access to quality healthcare from providers with validated knowledge, skills, abilities, and certifications wherever they live. Among the initiatives being pursued by the Inteleos Foundation are global healthcare improvements, scholarships to increase access to healthcare education and training, expanding access to critical care for underserved populations, and workplace safety for healthcare professionals. "With the Inteleos Foundation, we are looking to accelerate the mission-driven work of making ultrasound certification a global focus, especially as the technology becomes more portable, affordable, convenient, accurate, and ubiquitous across many clinical practices, We want to encourage other groups with similar missions, goals and dreams to join us in cultivating a healthier and happier world." -Dr. Thomas Shipp, chairman, Board of Directors, Inteleos Foundation. The Inteleos Foundation is supporting the Ultrasound Proficiency Grand Challenge (UPGC), aimed at giving midwives in resource-limited areas access to education, training, and certification in the proficient use of ultrasound. The UPGC's stated goal is to have every user of medical ultrasound around the world be proficient and certified, ensuring patient safety and increasing equity in healthcare by 2030. The program supports the United Nations Sustainable Development Goal #3: To ensure healthy lives and promote well-being for all at all ages. About Inteleos: Inteleos™ is a non-profit certification organization that delivers rigorous assessments and cultivates a global community of professionals dedicated to the highest standards in healthcare and patient safety. Inteleos is the overarching governance and management organization for the American Registry for Diagnostic Medical Sonography® (ARDMS®) the Alliance for Physician Certification & Advancement™ (APCA™) and the Point-of-Care Ultrasound Certification Academy™ which together represents over 117,000 certified medical professionals throughout the world. The Inteleos Foundation represents the philanthropic efforts for the organization.

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DENSO Donates $100K to American Red Cross to Assist Kentucky Flood Recovery

American Red Cross | August 17, 2022

The DENSO North America Foundation (DNAF) has donated $100,000 to the American Red Cross to support flood recovery efforts in Kentucky. DENSO's donation will help the aid organization deliver its vital shelter, food and health services to people in need. Others who wish to support can make their own donation to the American Red Cross through DENSO's disaster relief microsite. Companies affiliated with DENSO that operate in Kentucky include Kyosan DENSO Manufacturing Kentucky, LLC, located in Mt. Sterling, and DENSO Air Systems, located in Hopkinsville. While these sites were not directly impacted by the flooding, employees at the companies and DENSO partners across the state are deeply connected to communities still in need of relief. "The devastation Kentuckians are facing is unimaginable. That's why it's so important we do our part in helping those affected get back on their feet, We'll always be committed to positively contributing to the places we call home, and we hope this donation advances communities closer to full recovery." -Bob Townsend, vice president of Corporate Services at DENSO and DNAF. DENSO's donation was sourced from DNAF funds specifically earmarked for charitable initiatives. In addition to providing disaster relief, DNAF is also dedicated to helping students advance their education in science, technology, engineering, math and related programs. To do this, the foundation provides grants to colleges and universities across North America, giving students opportunities to grow their skills, pursue technical careers and lead tomorrow's workforce. About DENSO: DENSO is a $45.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 198 facilities to produce electrification system, powertrain system, thermal system, mobility electronics, & advanced devices, to create jobs that directly change how the world moves. The company's 167,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers, and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In the fiscal year ending March 31, 2022, DENSO in North America generated $9.5 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation, and pushes DENSO forward.

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Faraday Future Announces New Funding

FARADAY FUTURE | August 16, 2022

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful execution of a definitive agreement for a new financing facility. The Company continues to have active discussions with multiple capital providers for potential significant additional near-term funding. Under the new financing facility, which contemplates total potential funding of as much as $600 million in a convertible secured notes structure, Faraday Future will receive an initial $52 million of committed funds. Funds managed by ATW Partners, a U.S.-based institutional investor, led the transaction. Investors contributing $27 million (plus up to $31 million from additional investors who commit on or prior to August 17, 2022 and fund on or prior to August 19, 2022) will receive a conversion price of $2.2865 per FFIE share, later contributions will receive a conversion price of $2.69 per FFIE share. All investors will receive 33% warrant coverage with an exercise price of $5.00 per FFIE share. The facility is structured to allow for additional investor participation on similar terms. Other terms can be found in our 8-K filing dated August 15, 2022. Citi served as placement agent, and Sidley Austin LLP served as legal advisor to the Company. Blank Rome LLP and Ellenoff Grossman & Schole LLP served as legal advisors to the lead investor in the fundraising. The Company remains in active discussions with both U.S. institutional investors and international funding sources. These discussions may or may not lead to additional funding commitments beyond what has already been executed. The Company will provide further updates on financing negotiations as appropriate, and upon the conclusion of any additional definitive agreements. “I am very pleased to have this important new committed capital and framework in place for substantial additional funding. We are working diligently to complete this capital raise process in order to raise sufficient new funds to launch the FF 91. Subject to successful completion of this fundraising process, I am confident that we can deliver cars to our customers in late Q3 or Q4, Our Hanford manufacturing facility, recently renamed the “FF ieFactory California” is nearing completion. We have all the equipment on site needed to begin production and are in the final stages of installation. The FF ieFactory California has already produced over a dozen production-intent vehicles. Testing and validation of the FF 91 is well underway, and I am very pleased with the results we are seeing. The FF 91 will be the world’s first ultra-luxury EV and will reset customer expectations for what the future of intelligent mobility can be.” -Dr. Carsten Breitfeld, Global CEO of Faraday Future. ABOUT FARADAY FUTURE: Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since its inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

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Inteleos Foundation Formed to Improve Global Patient Safety

Inteleos | August 09, 2022

Inteleos, a non-profit global healthcare certification organization, today announced the launch of the Inteleos Foundation with the mission of improving patient safety around the world. The Inteleos Foundation was established to assure patients have access to quality healthcare from providers with validated knowledge, skills, abilities, and certifications wherever they live. Among the initiatives being pursued by the Inteleos Foundation are global healthcare improvements, scholarships to increase access to healthcare education and training, expanding access to critical care for underserved populations, and workplace safety for healthcare professionals. "With the Inteleos Foundation, we are looking to accelerate the mission-driven work of making ultrasound certification a global focus, especially as the technology becomes more portable, affordable, convenient, accurate, and ubiquitous across many clinical practices, We want to encourage other groups with similar missions, goals and dreams to join us in cultivating a healthier and happier world." -Dr. Thomas Shipp, chairman, Board of Directors, Inteleos Foundation. The Inteleos Foundation is supporting the Ultrasound Proficiency Grand Challenge (UPGC), aimed at giving midwives in resource-limited areas access to education, training, and certification in the proficient use of ultrasound. The UPGC's stated goal is to have every user of medical ultrasound around the world be proficient and certified, ensuring patient safety and increasing equity in healthcare by 2030. The program supports the United Nations Sustainable Development Goal #3: To ensure healthy lives and promote well-being for all at all ages. About Inteleos: Inteleos™ is a non-profit certification organization that delivers rigorous assessments and cultivates a global community of professionals dedicated to the highest standards in healthcare and patient safety. Inteleos is the overarching governance and management organization for the American Registry for Diagnostic Medical Sonography® (ARDMS®) the Alliance for Physician Certification & Advancement™ (APCA™) and the Point-of-Care Ultrasound Certification Academy™ which together represents over 117,000 certified medical professionals throughout the world. The Inteleos Foundation represents the philanthropic efforts for the organization.

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DENSO Donates $100K to American Red Cross to Assist Kentucky Flood Recovery

American Red Cross | August 17, 2022

The DENSO North America Foundation (DNAF) has donated $100,000 to the American Red Cross to support flood recovery efforts in Kentucky. DENSO's donation will help the aid organization deliver its vital shelter, food and health services to people in need. Others who wish to support can make their own donation to the American Red Cross through DENSO's disaster relief microsite. Companies affiliated with DENSO that operate in Kentucky include Kyosan DENSO Manufacturing Kentucky, LLC, located in Mt. Sterling, and DENSO Air Systems, located in Hopkinsville. While these sites were not directly impacted by the flooding, employees at the companies and DENSO partners across the state are deeply connected to communities still in need of relief. "The devastation Kentuckians are facing is unimaginable. That's why it's so important we do our part in helping those affected get back on their feet, We'll always be committed to positively contributing to the places we call home, and we hope this donation advances communities closer to full recovery." -Bob Townsend, vice president of Corporate Services at DENSO and DNAF. DENSO's donation was sourced from DNAF funds specifically earmarked for charitable initiatives. In addition to providing disaster relief, DNAF is also dedicated to helping students advance their education in science, technology, engineering, math and related programs. To do this, the foundation provides grants to colleges and universities across North America, giving students opportunities to grow their skills, pursue technical careers and lead tomorrow's workforce. About DENSO: DENSO is a $45.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 198 facilities to produce electrification system, powertrain system, thermal system, mobility electronics, & advanced devices, to create jobs that directly change how the world moves. The company's 167,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers, and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In the fiscal year ending March 31, 2022, DENSO in North America generated $9.5 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation, and pushes DENSO forward.

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