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
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?
You’re about to start on a new philanthropic adventure with a brand-new foundation. Perhaps it’s a family foundation that you’ve just created. Perhaps you’re taking the reins of a new corporate philanthropy. Or maybe you’re part of an exciting transition of assets from the sale of a public hospital into a new foundation. Whatever the circumstances, there are five key questions you can ask yourself now that will set your foundation on a successful course. 1. Is a foundation the best charitable-giving vehicle for us? Individuals who have created great wealth often want to establish foundations as a way to extend the family legacy into philanthropic endeavors. It is natural to want one’s name to live on and be honored with … Continue reading Five Ways To Position Your New Foundation For Success
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!
We often look to external sources for best practices, hoping that others have figured out the ideal way to accomplish something and we can simply duplicate it. But when is the last time you searched inside your organization for internal best practices? If the answer is rarely or never, read on! With a little time and intention, you can make dramatic improvements in your operations and grantmaking. Let me give you an easy example. Swimming is a regular part of my week day exercise routine. My pool is lucky to have a wonderful lifeguard named John. Whenever the lanes are full, John helps new swimmers identify a lane and asks the lane’s occupant it he or she would mind sharing. John’s friendly manner always solicits … Continue reading The Best Practices You Never Knew You Had
I fly a good bit for my work. As a seasoned traveler, you’d expect that I’d have strategies and practices I use to make the experience more comfortable and productive. There are other things I do because they are obvious and expected. For example, when in first class, use the first-class bathroom. But recently, as I sat in first class waiting to use the bathroom for more than 10 minutes, it occurred to me that the coach bathroom was identical AND the walk allowed me to stretch my legs. I had constrained myself by sticking to my typical airplane routine and not considering all the options available. Walking back through a half empty plane I was surprised at how many … Continue reading How We Constrain Ourselves
There is a lot of angst flying around these days. Uncertainty on the national stage and in our home communities seems to have everyone on edge. Those kinds of feelings tend to make one more inwardly focused and protective. While that’s only natural – a kind of a self-preservation response – it won’t do any of us any good. Withdrawing into ourselves won’t make us easier to get along with, or make us safer, or even make us feel any better. You know what will? Letting others know you care about them and appreciate what they do. Reaching out can be as simple as saying “thank you” to those who work beside you every day, or who amplify your philanthropic … Continue reading Remember to Say Thank You
In the face of a rapidly changing policy environment that appears to sometimes question the values most philanthropists espouse (you know, things like justice, compassion, and honesty), it’s understandable if funders feel panicked, deflated, enraged, or all three simultaneously. Those are the emotions that many of my clients, from a full spectrum of political leanings, are sharing as they call me for advice on how to respond to the dramatic changes that are taking place our country. Regardless of one’s political beliefs, when everything seems to be in a state of upheaval (whether it’s federal policy or your own institutional politics) it pays to stop, take a deep breath, and stay focused on your mission. Here are 10 points to … Continue reading Keep Calm and Carry On (With Your Mission)
It’s the nature of philanthropy to want to help. It’s what foundations were created to do. Yet all too often, foundations, corporate grantmakers, and donors unintentionally cause problems instead of helping to solve them. Even with the best intentions, foundations take actions that are counter to the outcome they – and their grantees – hope to achieve. Here are five common examples: 1. Providing short term funding for a long-term outcome. Most funders are loathe to commit to any one organization or initiative for more than a year or two. (In fact, if foundations were people, we’d call many of them commitment-phobes and recommend therapy!) Even when foundations have long-term goals like closing achievement gaps in schools or improving drinking … Continue reading 5 Ways Foundations Cause More Problems Than They Solve