PHILANTHROPY
Reimagining
WEALTH AND PHILANTHROPY By Mike Scala
reason to come together in a shared pursuit of meaningful futures. Reimagining wealth is a key component in making such intergenerational collaboration possible. What does wealth mean to each different generation in your family? What does the family legacy look like today? How do the children in the family see the possibility of being part of a lasting legacy 30 years from now? One of the organizations leading that shift of reimagining wealth through philanthropy while working to transform the way families align their core values with impact is “The Impact Agency.”
As the model of traditional investing is shifting and Family Offices around the world are starting to pivot their portfolios towards impact investing, next-gens are supporting their families in the largest wealth transfer in the history of humanity as we know it. With that said, many families are re-thinking the way in which they approach honoring their family legacy while making a positive change in the world. More principals and next-gens are passionate about philanthropy and sustainable solutions that not only have a healthy ROI but are also good for the planet. With more intergenerational communication, integration, and collaboration occurring within many families, a new model is taking shape aligned with the context of our times and many are looking for more “current” approaches. This powerful shift has fostered
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Mike Scala is the founder of The Impact Agency, a private, specialized agency working with families and foundations to maximize their philanthropic efforts, and as a result, reimagine philanthropy while expanding their family legacy. Scala has founded a number of organizations deploying capital globally while implementing sustainable solutions and impact across all sectors. He has led efforts both on the ground and behind the scenes traveling around the world to work with families, NGOs, and the public and private sector. In addition, his work with organizations such as Bankers Without Boundaries with governments, institutions, and cities to mobilize capital applying financial concepts/structuring to public projects aligning them with the investment needs of capital markets, risk reduction, scaling and generation of financial returns, the World Health Organization, SAP, and more have resulted in providing aid and opportunities to millions across continents the past two years alone. He has been recognized at The World Economic Forum and has spoken at some of the top universities and institutions
such as NYU, Cornell, BI of Norway, the United Nations, and private family office gatherings internationally. Scala, is often referred to by his peers as “the swiss army knife of philanthropy.” When COVID19 was announced a global pandemic at the end of March, Mike was approached by a number of families around the world and was entrusted with helping them to deploy aid effectively. Throughout that process he was called upon by various world leaders to support relief efforts. He and his team spent 8 months on the frontlines in countries around the world setting up food supply chains, building teams, working throughout Los Angeles County, Chicago, New York City, and were called upon by members of the European Union to support in leading efforts around community youth engagement, education, public health, messaging and communications, and relief for underserved communities across the US and Europe. Working directly with families, donors, and corporations such as Vivobarefoot, he and the agency were able to provide 25k+ families in the US with food, PPE, supplies, and necessities, increase efficiency of supply chains for shipping of aid to communities in need, provide 10k+ of the homeless population in the US with food, clothing, jobs, and supplies, new facilities for the Watts Empowerment Center, 50k+ units of PPE equipment to hospitals in Chicago, LA, NYC, and Italy, $700k+ worth of educational supplies to underserved communities that do not have access to the internet or tech for online learning during lockdowns, over 10 million impressions and reach on social media, messaging, and engagement to raise public health awareness.
