Two-Bank Charity Model

The speaker describes Charity Water's innovative two-bank account model for running a transparent charity organization. The model ensures 100% of public donations go directly to charitable causes while operating costs are funded separately through private donations.

Key Points:

• Two-Bank Account Structure:

  • Public donation account: 100% goes directly to charitable cause
  • Private donation account: Funds operational costs and salaries

• Value Proposition:

  • Complete transparency in donation allocation
  • 100% model attracts public donors
  • Appeals to tech wealthy donors who value:
    • Accountability
    • Transparency
    • Closing the loop on giving
    • Feeling the impact of donations

• Initial Funding Strategy:

  • Started with "give up your birthday" concept
  • Attempted to integrate with social networks (Facebook, MySpace, Bebo)
  • Secured initial $1M private funding from Michael Birch (Bebo founder)

• Results:

  • Became one of the biggest privately backed charities
  • Raised over $100M using this model
  • Successfully connected with wealthy tech donors who support the transparent approach