Giving Compass' Take:

• This Forbes post highlights how Philadelphia investor Josh Harris used evidence-based methods in his entrepreneurial endeavors, specifically a gift to the Police Athletic League.

• Good sourcing, scale and outcomes were all part of the process. What can other impact investors learn from Harris' success in these areas?

• Here's more on how impact investing can create brighter futures.

In the summer of 2015, private equity investor Josh Harris, philanthropist and owner of the Philadelphia 76ers, among other teams, made a five-year, $3.5 million gift to Philadelphia’s Police Athletic League (PAL) — the largest gift in the 68-year-old youth development organization’s history. His goal was to help Philly youth to better opportunities, and his quest led him to PAL, whose mission is to serve Philadelphia’s youth by reducing crime, promoting character development, and improving educational outcomes.

The Harris Family Charitable Foundation (which my firm The Bridgespan Group has advised) applies the same tenacious, results-oriented approach that Harris uses in business to the “business of social change.” Three elements in particular stand out:

  1. He conducted rigorous sourcing and due diligence.
  2. He looked for existing community assets that already had scale.
  3. He focused on outcomes, not just outputs.

Read the full article about private equity lessons for the business of social change by Chris Addy at Forbes.