The word “innovation” is ubiquitous in philanthropy. It’s a concept that few foundations have defined, yet many are eager to fund. No surprise, then, that foundations often request “innovative ideas” from their grantees but fail to accomplish the same thing internally. When a funder doesn’t create a clear definition of innovation or understanding of how to build its own innovation muscle, the implied assumption is that innovation “just happens.” This creates several problems: Because few funders have defined what they mean by innovation, they have difficulty communicating their expectation to grantseekers. The onus of innovation is almost always on the grantees and rarely on funders themselves. Funders give little to no thought about how they expect grantees to be innovative. … Continue reading What Does Innovation Mean?
3 things you can do to calm yourself down and meet your goals There are about 75 working days left until the end of the year, depending on how many holidays you celebrate. Even fewer if, like me, you take the last half of December off. The great news is that there is still plenty of time to meet your year-end goals! If you find yourself hyperventilating — or if you are understandably distracted by the many natural disasters and local and global crises we are experiencing across the globe — take some deep breaths and repeat after me: “I can do this.” Here’s what to do: 1. Identify the ONE thing you must accomplish before the end of the … Continue reading Are You In End-of-Year Panic?
There is nothing like reports and photos of devastation after a natural disaster to spark one’s desire to lend aid and support. Hurricane Harvey in Texas and southwest Louisiana most certainly has captured our attention, and now Hurricane Irma has entered the picture as a potential threat to the Leeward Islands and the US coast. But all too often, the outpourings of charitable gifts dry up long before the needs created by that disaster are all met. If you’re considering lending your support to those affected by a natural disaster, I encourage you to do so — and to consider the following four ways you can make a meaningful difference. 1.Respond to Immediate Needs. Right now, many people in Texas and … Continue reading 4 Ways to Respond to Hurricane Harvey (or Any Disaster)
Everyone relies on standard ways of doing things. From getting kids out the door to school or making the next big grant, we all need processes and systems that help us remember what’s next, what’s to be expected, and how to move forward. But sometimes things change, and we need to be able to change as well to accommodate a new short-term situation or a new long-term reality. Here’s a personal example. A few weeks ago I went to the hair salon for my standard cut and color (not that I’m going gray or anything). My tight schedule meant I couldn’t see my regular stylist. It was the morning of an international flight and my primary goal was speed and … Continue reading How Adaptable Are You?
You’re completely committed to supporting others with your giving, and you’re doing everything possible to ensure that every penny of your charitable assets is going directly to the nonprofits that need it. That’s how you ensure the most effective use of your philanthropy, right? Wrong. Squeezing every penny into the philanthropic pipeline isn’t the same thing as ensuring effectiveness. In fact, penny-pinching during the philanthropic process may do more harm than good to those you wish to serve. Many individuals and foundations think they’re being good and prudent stewards of charitable assets when in fact they are withholding investments that could open the doors to greater productivity and more access to additional philanthropic capital. I call this operating with a … Continue reading Is Your Giving Hampered By A Poverty Mentality?
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
“Philanthropy” is generally translated from its Latin roots as “the love of humankind.” That means we automatically assume that all philanthropists are motivated, at least to some degree, by a desire to make life better for others. We see this assumption at work across the philanthropic landscape, from generous individuals to ginormous foundations, all working to support nonprofit organizations that, in turn, help millions of people and address almost every kind of need imaginable. But too often, a philanthropist’s or foundation’s work and effectiveness, while generous in spirit, is confounded by the requirements and processes that the funder adopts — requirements and processes that make their nonprofit partners tear out their hair. It’s not the philanthropist’s intention to make life … Continue reading How Grantmakers Unwittingly Make Life Harder For Nonprofits
We all talk about big data, evaluation, dashboards and bench marks. But we tend to collect a lot of data and then end up unsure about what to do with it. Most of the time, it’s just 20% of the data that provide us with 80% of the information we need to make better decisions. Let me share a recent example of what I mean. I walked into the Garden Court Hotel in Palo Alto CA one morning for coffee. As I was drinking it, I heard the front desk clerk answer the phone, say “Yes, 72% and 395…you’re welcome,” and then hang up. I asked her what the numbers were for. She explained the hotel is at 72% capacity … Continue reading What Are Your Two Key Indicators?
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
Hint: The answer is yes. By now you probably know two things about me: I travel frequently, and I’m addicted to good coffee – especially first thing in the morning. So you can understand my delight to find a high-quality coffee service right on my hotel floor this morning! This was no in-room filter pack situation. To me, that’s like offering stale saltines to an artisan baker. I pass that up unless I’m completely desperate. But I also am reluctant to make myself presentable first thing upon waking just to go down multiple floors to a hotel lobby or a Starbuck’s to get the good stuff. On most trips, I actually bring a single-cup coffee maker with me on my … Continue reading Can You Improve Just a Smidgen?