The impact of 10×10 is multiplying as the millennial-focused collective giving group adds US events to its global footprint.
Sydney-based professional networking and collective giving group 10×10 has now raised more than a million dollars for charities, up from $300,000 in June 2016, as it prepares for its first US event in New York during May.
Since launching in 2013 with the purpose of fighting apathy and building a culture of giving among young professionals, the live crowdfunding organisation has helped to raise funds for more than 108 charities across Australia, Hong Kong, Canada and the United Kingdom.
The 10×10 events are organised by 10 young professionals who invite 10 friends, with each person pledging a minimum of $100. Three grassroots charities then pitch to the group, with each attendee choosing which group to donate their funds to. Another 10 people are then selected to organise the next event.
Alongside the million-dollar milestone, 10×10 has released its 2017 impact report, which shows young professionals involved with the organisation over the past year have given more than 3,000 hours in volunteer time, engaged 1,700 donors and run 16 events across six cities.
The report also states that 50$ of millennial 10×10 attendees said it was their first hands-on philanthropic experience and 84% increased their philanthropic involvement following the event. Meanwhile, 85% of participating charities said the event made a sustainable difference to their organisations.
In a statement, co-founder and executive chairman Laurence Marshbaum said “we don’t just raise money, we facilitate conversations, raise awareness and we inspire and create connections which build capacity for change”.
“We have created an innovative for-purpose organisation which has a sustainable and scalable platform for both engaging a new generation of volunteers and supporting these grassroots organisations,” he said.
“There is a yearning by millennials to be more actively engaged in selecting and measuring impact when it comes to philanthropy. We are experiencing a structural shift, a new framework and new world. We are excited to have young Australians leading this shift in giving globally.
“Our next step, post our inaugural New York event, is to expand the models global footprint and to launch 10×10’s offering into corporate organisations so they too can create purpose-driven philanthropy for their young professionals.”
The next 10×10 event in Australia will be held on Thursday 19 April 2018 at 5:30pm at the offices of Atlassian on Level 29, 363 George Street, Sydney NSW 2000. More details about upcoming 10×10 events here.