When Impact Arts joined the 14:19 Fund portfolio in 2009, its extremely successful employability service was rapidly growing and expanding into new geographical areas. However, Impact Arts recognised that in order to grow effectively, it needed to strengthen its core, review its governance structures and develop its property strategy.
The investment from Inspiring Scotland is enabling Impact Arts to work to a seven year investment plan with specialised support received from Inspiring Scotland Performance Advisors and the wider team. Impact Arts has also been supported by Inspiring Scotland’s pro bono advisors including: a business mentor, specialised legal advice on property issues and support around financial remodelling.
How things have changed. In just under three years, 14:19 Fund investment has enabled Impact Arts to:
- expand its programme from limited delivery in five Local Authority areas to a full programme in 10 areas, maximise funding leveraged and enter new geographical markets;
- undertake a governance review to strengthen the board and staff team;
- implement a property strategy, including the purchase of two new properties, which has attracted further loan and grant investment in 2011 and has created long term financial stability; and
- invest in staff training and innovation.
Susan Aktemel, Director of Impact Arts: "From the outset, Inspiring Scotland’s understanding of Impact Arts’ plans, commitment to letting directors make important decisions and trusting why investment was needed in a particular area was invaluable.
Inspiring Scotland’s investment approach has transformed the health of the organisation and the confidence its board, Executive and external partners have in Impact Arts’ ability to continue delivering strong outcomes in the current challenging environment. Impact Arts has progressed from being a founder led social enterprise into a more substantial organisation".