We were lucky to catch up with Erin Arnheim recently and have shared our conversation below.

Erin, appreciate you joining us today. When you were first starting out, did you join a firm or start your own?

When I joined Legacy Collective in April of 2020 as the COO, we were a donor advised fund and our team was employed under a parent company. Legacy was built this way starting in 2015 to keep costs down and it allowed for the team to have the benefits of being part of a larger organization including receiving medical benefits, payroll systems, HR support, compliance support, and technology support. The parent company was a great way to start out when the organization started!

However, after I joined and shortly after I became CEO in September of 2020, we began to pivot our business model toward growth and sustainability. We added new revenue streams by adding new types of giving circles. And as a result of our growth, our team began growing as well. As we began growing, we noticed that we were missing out on additional forms of revenue like corporate matching, corporate sponsorships, etc. because we were not yet a 501c3. We were also missing out on savings by not being a 501c3 that many companies offer tax exempt corporations. Being a DAF under a parent company was also causing confusion with our corporate and city giving circle prospective clients as well.

When we discovered the missed opportunities on revenue and expense savings due to our DAF status, we knew we needed to form our own Texas nonprofit corporation and apply for 501c3 tax exempt status. We launched our own nonprofit and received tax exempt status in early 2022.

During the first quarter of 2022, we saw over 100% growth in monthly recurring income. We were also able to partner with Real Mama Bears to launch the largest LGBTQ+ benefitting giving circle in the world in March of 2022.

Erin, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

For over 20 years, I worked in the financial services industry. However, I have been deeply embedded in the nonprofit world since childhood through volunteer opportunities, serving abroad, giving financially, serving on Boards, and leading community engagement initiatives in the workplace. I hit a crossroads in 2016 when I was not chosen for an internal corporate social responsibility role. Not knowing what to do next, I remained in my current role, feeling unsatisfied and unfulfilled. A second crossroads came in 2019 when I was laid off. I decided to look for positions not just in financial services but also for roles in community engagement and the nonprofit sector because I wanted to take a leap to fulfill a dream. In 2020, I was hired as the COO of Legacy Collective, a giving circle community that funds nonprofits working to solve systemic issues with sustainable solutions. After only a few months, I was promoted to CEO of Legacy Collective. This role perfectly combines my financial services experience and my passion for helping nonprofits. We are a community of givers granting funds to nonprofits domestically and abroad. We have recently launched Corporate Giving Circles for corporate philanthropy and City Giving Circles as a way for convention and conference attendees to give back to host cities. I’d always wished that I had more to give to make a greater impact, and leading Legacy Collective as part of the larger collective giving movement is a dream come true! I get to see and hear the stories of impact that nonprofits are making as they address systemic issues!

Can you tell us about what’s worked well for you in terms of growing your clientele?

Partnerships. Find great partners that believe in you and you in them – collaborate and make the magic happen!

Earlier this year, we partnered with Liz Dyer of Real Mama Bears, a community of 40,000+ moms who come together to love, support, and empower parents of LGBTQ+ youth and the LGBTQ+ community. Through this partnership, we have been able to launch the largest LGBTQ+ benefitting giving circle in the world! We are about to give away our first round of grants after 6 months totaling $70,000 and are voting on the next round of recipients as well.

We have also started to partner with Destinations International. They have been an incredible partner, support and advocate for us as we launch City Giving Circles! We just finished launching our first one with Discover Atlanta and are working on launching 3 more in the next quarter.

We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?

I had to unlearn imposter syndrome and my specific type was expert! When I took this role I was struggling feeling like I was not worthy of being seen or heard at the table. I had never worked for a nonprofit, I had never been a CEO, and I was working for 2 celebrity Co-Founders who were incredibly wise around the issues our community were tackling. The entire experience was overwhelming and intimidating!

But one of my Co-Founders wisely connected me to a coach – Jo Saxton. In one of our coaching sessions, we discussed imposter syndrome. I realized my issue was that I always felt like I had to fully know everything to feel like I was worthy to be in a room. But that is exactly what a CEO should NOT be doing! Jo helped me find the source of where this started, I dealt with that, and then worked my way backwards and have overcome it. I no longer struggle with imposter syndrome and it’s incredibly freeing of my mind, my heart, and my time!

Contact Info:

• Website: https://www.erinarnheim.com/
• Linkedin: https://www.linkedin.com/in/erinarnheim/
• Other: https://legacycollective.org/erin-arnheim/

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