In this episode, we talk about how to obtain emergency funding for your existing programs. I talk with Caroline Bressan from Open Road Alliance. They are a private philanthropic initiative that serves the social sector by keeping impact on track in an unpredictable world.
Open Road Alliance provides short- and long-term solutions to unexpected challenges that arise during project implementation, so that impact and finite resources can be maximized across the social sector.
To meet immediate needs, we offer fast, flexible funding to nonprofits and social enterprises facing discrete, unexpected roadblocks during project implementation. We fund via two portfolios, Charitable Grants and Loans. Open Road Loans are below market-rate and disbursed via our loan fund, Open Road Ventures.
Open Road sees every grant and loan it makes as an investment for social impact. Our funding model is based on speed and financial leverage.
In addition to our investment portfolio, Open Road promotes the long-term, sector-wide adoption of better risk management practices. In collaboration with peers, we conduct research, develop tools, and generate data on approaches to financial and non-financial risk management. By disseminating learnings and advocating for the adoption of best practices, Open Road is working to make risk management as commonplace in philanthropy as monitoring and evaluation; ultimately, preserving finite resources and social impact in our sector.
Risk Management Resources: openroadalliance.org/advocacy