Impetus support package:

Impetus investment period: 2007 - 2011
Total grant funding: £543,000
Pro bono services donated: £511,000

Keyfund "exited" the Impetus portfolio in June 2011. Read a review of the investment.

Background to the investment:

The impetus for our involvement was the fact that Keyfund's model of youth engagement had achieved strong results in the North East for delivering significant benefits to young people, particularly those from marginalised groups. The organisation had created a growing network of youth workers who were using their Keyfund training to deliver a consistent approach to developing skills in young people. However it had outgrown its systems and lacked core capacity.  Our investment recognised the need for initial turnaround support which would then enable the organisation to refine its facilitator training strategy, develop a replication model and grow across and beyond the North East.

Focus of Impetus expertise 2010/11:

• Business and implementation planning; systems improvement and financial reporting; organisational structure; balanced scorecard
• Senior team recruitment support; legal advice on licensing arrangements; support on building the proposition around the licensing and the marketing strategy
• Intensive implementation planning and support, review of accreditation opportunities for Keyfund youth learning programme, audit of IT systems, support on fundraising, development of licence competition documentation.

Key achievements 2010/11:

• Secured a three-year grant from One North East to expand the Keyfund model through eight new licensee organisations in the North-East region. Completed first licence renewal from initial group of four licensees
• Corporate partnerships initiated with Wipro, Brewin Dolphin, Lycetts and O2
• Revenue in 2009/10 increased 33%, which returns Keyfund to the pre- investment level. This is a strong result given the focus on turn-around activity over the last four years
• Won Best Not-for-Profit Organisation at the 2010 North East Business Awards and Hannah Eyres, Keyfund CEO, won the North East Woman Entrepreneur of the Year 2009 in the social enterprise category.

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