Grantmakers are always looking for impact. We define the quantitative outcomes we want to achieve with our funding. We collect qualitative evidence through stories of those whose lives are changed as a result of our work. But we often forget to look for and capture the “ripple effect” of the grants that we make. Here are two examples: The William and Flora Hewlett Foundation recently gave a grant to the Community Foundation of Sonoma County to update its business model. As part of that updating process, the Community Foundation is collecting and curating data about the business models of other community foundations across the country. They will share that information widely with their peers, who are hungry for it. Hence, … Continue reading Looking for Impact? Don’t Overlook the Ripple Effect
There are many people in the world who offer advice and guidance to people with means, especially when it comes to how one can best make more money. A wide range of specialized experts and advisors will gladly share their insights to make your decision-making process easier. Business consultants may help you set up a family office or expand your personal empire. Wealth advisors and financial planners help you enhance your earnings. Tax advisors help you protect your assets. These people can all be valuable resources and allies for growing your wealth, but what happens when you’re ready to give money away? Distributing wealth is a very different practice from earning it. The core practices and the nuances of philanthropic … Continue reading How To Choose The Right Philanthropic Advisor
Billionaire Jeff Bezos’s recent Tweet for suggestions about how to give some of his fortune away has inspired several media stories, including commentary and an open letter to Jeff Bezos about focusing on immediate suffering vs. creating a long-term strategy. Where, how and in what a philanthropist chooses to invest his or her philanthropic capital are all extremely important decisions. For someone with an entrepreneurial spirit, like Bezos, those decisions will no doubt reflect some new and different thinking. For the field of philanthropy, where many giving practices are deeply entrenched and sometimes outdated, “new and different” can be a very good thing. But no matter where, how or for how long Bezos chooses to be charitable, and no matter whether his philanthropy is wildly unconventional … Continue reading Five Things Jeff Bezos Needs To Know Before Giving Away Billions
On a recent trip to Mexico City, I was delighted to find a Starbucks right next door to my hotel. For a moment, I felt sort of guilty that I was being an imperialist coffee drinker and that I should go find an amazing Mexican coffee experience to try. But a quick gut check proved the opposite: I was jet lagged from an ill-advised red eye flight from San Francisco, and my priority was caffeine in the form of coffee that I could depend on. I like Starbucks’ Pikes Place blend and I needed the comfort and reliability of its consistent quality. A few weeks later, I was walking in Palo Alto to — you guessed it — a Starbucks. I walked … Continue reading Why Consistent Quality is Key to Your Philanthropic Relationships
Call ‘em what you want – in my 18 years advising foundations and philanthropists I’ve seen the terms “regional association of grantmakers,” “funder networks,” “affinity groups,” “philanthropy communities,” and more – and now the new term is “philanthropy-serving organization” (PSO). Whatever you call it, the value is timeless – bringing funders of similar interests, types, sizes, and/or geographic locations together to network and learn from each other. In my work advising foundation CEOs, I’ve noticed that as leaders transition to new roles and move to new organizations, and as foundation priorities and grantmaking strategies evolve, many funders fail to take advantage of – and sometimes fail to even notice – PSOs that might meet their evolving needs. For example: Consider … Continue reading There’s a Philanthropy-Serving Organization for That!
This article was originally written and published for Exponent Philanthropy. Read the original post here. In my work as a philanthropic advisor, I come across philanthropy in all forms- from individual giving to institutional grantmaking and everything in between. It used to be that most of my clients engaged in their work from behind a wall of protection. Charity and grantmaking were held aside and in addition to other forces for good. However, over the past few years I’ve noticed philanthropy in all forms becoming less siloed and more interwoven with the world around it. Here are eight manifestations of this trend: 1. CEO branding. Foundation CEOs and high-net-worth donors, following in the footsteps of their corporate counterparts, are realizing the personal and … Continue reading 8 Silo-Smashing Trends in Philanthropy
A culture of learning is one that encourages ongoing inquiry and questioning. It is comfortable with the fact that there is always more to learn and explore, and therefore the “work” of learning is never-ending. Learning is at the core of all research and development. The more you approach work with a sense of curiosity and inquiry, the more you can research and develop new approaches. This can be a challenge for foundation staff or boards who are geared toward finding the “one” solution to a challenge, checking it off the list, and moving on. But the culture of learning and ongoing inquiry is why cell phones now fit in the palm of your hand, and why more cancers are … Continue reading Create a Culture of Learning
In my first attempt to hire my own financial advisor in my late 20s, I turned to Morgan Stanley in San Francisco. I interviewed two people. One had a slide show presentation and overflowing binders of charts and graphs showing me how they informed his decisions, his track record, how this and that outperformed that and the other. I had little idea as to what he was talking about but I figured he must have known his stuff because he could prove it on an XY axis. The second person, a woman, looked at me straight in the eye and said “This is not all that complicated.” I was shocked. How could it not be complicated? I didn’t understand it. … Continue reading Don’t Believe the “Complexifiers”
It feels great to play Santa. If you celebrate Christmas, there’s nothing like a Christmas holiday to make you remember that giving is fun. You find a present, wrap it up nicely, see the joy and excitement on someone else’s face, and feel good about what you’ve done. For many philanthropists, it’s the same: you write a nice check, present it to a nonprofit, see the joy and excitement on their faces, smile for the camera, and then feel good about what you’ve done. But then what? The problem with Santa-style giving is that it’s a once-a-year gig. But during the other 364 days of the year, the organizations you’ve made grants to still have ongoing needs, unexpected challenges, and … Continue reading A Little Less Santa, A Little More Staying Power
When you think about your work in philanthropy, are you selling yourself short? If so, you could be shortchanging your foundation’s effectiveness – and therefore its mission – as well. Some of the most sincere people I know in philanthropy bring a very astute sense of servant leadership to their work. They always put the needs of others first and keep themselves humbly out of the spotlight. It’s an admirable mindset, but it also can be a symptom of approaching philanthropy from a poverty mentality rather than one of abundance. As I’ve written before, foundations with a poverty mentality believe that investing in their own infrastructure or capacity somehow robs those they serve. Foundations with an abundance mentality realize that … Continue reading Are You Selling Yourself Short?