The Board Exchange

1. Lack of awareness and engagement: Many finance professionals and those within the ecosystem around the WDI have limited awareness or understanding of the issues related to wealth inequality and extractive capitalism. This hack seeks to increase awareness and active engagement, not just among direct agents of the WDI, but also the surrounding ecosystems. 2. Uncertainty about actionable steps: Even those aware of the issues often lack clarity on what concrete actions they can take within their organisations or how to effectively pressure professional and regulatory bodies for change. The hack aims to provide clear, practical guidance and toolkits to help finance professionals initiate change. 3. Counteracting the corporate status quo: The prevailing corporate culture, consumerism, and the allure of wealth ("the Money River") shape behaviours and attitudes in ways that perpetuate inequality. This hack provides education, alternative perspectives, and actionable strategies to resist these influences, thereby building momentum for systemic change.

Background The Board Exchange is a new concept targeting the ecosystem around the WDI, such as accounting firms. The core hypothesis is that by raising significant awareness and offering actionable steps, we can contribute to a paradigm shift, encouraging professionals to put pressure on organisations and professional bodies to drive meaningful change. This hack addresses not just wealth hoarding amongst the wealthiest, as described by Chuck Collins, but a broader focus on economic inequality, the concentration of power, wealth, and the challenges within the philanthropic and non-profit sectors. Outline of The Board Exchange Drawing inspiration from initiatives like Faith in Nature's bold approach to giving nature a voice, The Board Exchange proposes a structured program where senior leaders from corporate and non-profit sectors "swap places" or shadow each other as board members or advisors on projects. This exchange would last a defined period, with flexibility to accommodate varying organisation sizes and needs. Corporate leaders (non profit participants tbc) would undergo a tailored training program, potentially covering topics such as: - The role and impact of corporates, governments, and the third sector, including questioning the default purpose of companies. - Insights into philanthropy and issues related to philanthropic funding. - Exposing charity myths, such as those regarding overhead costs, inspired by Dan Pallotta's "Uncharitable." - Other “corporate unlearnings”. - Exploring decision-making processes, with lessons from participatory grantmaking and impact investing. - Insights into the WDI. - Practical steps leaders can take to drive change. At the end of the exchange, participants would: - Share key observations (format to be developed). - Collaborate with The Board Exchange to present to their broader organisations, next steps and future action. - Share The Board Exchange toolkits to empower their teams to take action. Target Audience Initially, the program will focus on finance leaders, including: - CFOs and finance directors. - Financial services leaders. - Leaders within accounting practices. In time, the program could expand to include other disciplines and align with complementary hack initiatives, such as a P&L capturing all forms of value. UK Context and Applicability Given my professional experience within the UK, the initial implementation of The Board Exchange would focus on the UK context. However, the model could be expanded and adapted for use in other jurisdictions in the future. About Me After a 20-year career in finance and M&A, I am in a transition towards more purpose-driven work. I am currently pursuing a Master's degree in Philanthropic Studies and have several non-profit roles, including with The Fore, The Cranfield Trust, and Impetus. I also freelance with GrowCFO, a community for finance professionals, and developed the “Leading with Impact” program to encourage finance leaders to engage in skilled volunteering, in collaboration with Charterpath. My finance experience spans: - Big 4 accounting practice. - M&A deals in financial services. - Finance leadership roles across multiple industries. I am deeply interested in wealth inequality and intend to explore this topic further in my Master's dissertation in 2025.

Immediate Impact: During an intensive sprint period, funding will enable me to research and develop a business plan and program outline. This will include: - Developing an overarching strategy. - Crafting an outline of the program and associated training. - Conducting market research to identify potential collaborators and understand the landscape. - Creating a marketing strategy to position this as an essential, in-demand initiative. - Defining target audiences, including how the program can adapt based on company and non-profit sizes, and individual profiles. - Incorporating Justice, Equity, Diversity, and Inclusion (JEDI) principles. - Outlining funding needs and potential income streams, alongside other necessary resources. - Considering any legal or governance issues. - Developing an implementation plan and identifying future phases and potential collaborations. Long-term Impact: This hack can lead to: - Greater awareness within the finance community about the WDI and broader issues of extractive capitalism and power inequities. - Clear, actionable steps for finance professionals to drive change. - Enhanced understanding and dialogue between corporates and non-profits. - Paving the way for a paradigm shift and eroding the WDI infrastructure and narrative.