As noted in our President’s October Message, we are committed to openness regarding the 2018 Annual Awards Celebration voting error that resulted in the best possible outcome: awarding six grants of $104,000 each! Please find a few questions and answers below.
$208,000 was secured quickly; that is half of the funds that nearly 500 women pooled together for 2018 membership. How do you explain this?
It is because of the collective wisdom of Impact 100. Because of the financial vetting process of the membership. Because of Impact 100’s overall grant review process that the foundation stepped forward to ensure each of the qualified Grant Finalists could be awarded a $104,000 grant! The hard work of women members and 2,000+ hours of due diligence, discussion, site visits, and financial review leading up to the Annual Awards Celebration should – in no way – be disregarded. It is because of these efforts – and the belief in the Impact 100 model – that the donation came forward in ensuring support of all six nonprofit organizations.
Can you explain the voting error?
The Annual Awards Celebration final vote and voting allocations remains highly confidential and has never been released to the membership or the Board of Directors in our organization’s history. The results remain confidential as overseen by the third-party auditor. The grant recipients are randomized and announced in no particular order at the Annual Awards Celebration. When the voting error was identified early on September 14, this confidentiality was upheld to the highest regard and we were simply alerted that there was an error. We named it: a voting error. We claimed it & worked to find an appropriate resolution given the quality of each of the six Grant Finalists. Each organization was unanimously approved by the Board of Directors in June and was above capable and competent to receive Impact 100 funds; now, each will! Each of the Grant Recipients will engage in an Impact 100 Grant Agreement moving forward.
What is being done to ensure this will not happen again?
This most important task in tabulating the membership vote is done with great care. The Board of Directors will ensure all steps are taken to mitigate this year’s error. After approaching a variety of community members who could assess voting protocols, Divisional Vice President at Touchstone Investments, Ben Alge, has come forward to develop a detailed recommendation for future voting. Ben’s experience in assessing people, process, systems, and technology was the perfect skill set to expediently, professionally, and confidentially recommend best practice moving forward. Ben notes: “I specialize in building effective and repeatable processes in my work in financial services. I’m committed to ensuring the integrity of this process today & in the future.”