Long before the pandemic hit, it was clear philanthropy needed an overhaul. But the health and economic crisis, combined with a national racial reckoning, forced grant makersâ hands. Foundations largely rose to the challenge by speeding up their grant making, increasing flexibility, and reducing funding restrictions.
But now it appears those changes may be short lived. In the most recent of its Foundations Respond to Crisis reports, the Center for Effective Philanthropy found that âmost foundations do not plan to undertake these new practices in the future to the degree they are doing so now.â
How can that be during a time when people in and outside of philanthropy are speaking up every day about the need for such changes? Why wouldnât foundations lean into this progress?
Four Lessons Motherhood and Having Twins Taught Me About Philanthropy From:
Just about every aspiring mom (and dad) has big plans and preconceived ideas about what pregnancy and parenthood will be like. You picture the way your life might change, you plan out a nursery, order a crib â itâs pretty straightforward stuff. Straightforward, that is, until you discover youâre having twins! Suddenly, all those plans and preconceptions go out the window, and you have to rethink everything. The basic premise is still the same â youâre bringing new life into the world and want to raise it well â but now the reality in which youâll operate is vastly different than expected.
8 Questions to Maintain Your New âBest Practicesâ From:
Donât slide back to your old ways.
If youâre like many funders, the changes you made in 2020 were swift and dramatic. You dropped tightly held practices like hot potatoes: loosening funding restrictions, eliminating burdensome policies, offering general operating support, collaborating with new partners, increasing grant payout, and dramatically expanding support for racial justice.
As I wrote in my op-ed in the Chronicle of Philanthropy last week, now is the time for philanthropists to lean into this progress and permanently embrace the important changes we made during a year of upheaval and crisis.
[unable to retrieve full-text content]
Take this short quiz to find out. Â Itâs philanthropyâs Achilles heel. Foundation leaders, donors, professional athletes, corporate executivesâ-all philanthropistsâ-want to be good caretakers of their charitable wealth. They want their assets and profits to grow, so thereâs more wealth to give. They also want to reduce their philanthropic costs and save money, so thereâs …
About Kris Putnam-Walkerly
Kris Putnam-Walkerly, MSW is a global philanthropy advisor and president of Putnam Consulting Group, Inc. For more than 20 years, top global philanthropies have requested Kris Putnam-Walkerly s help to transform their giving and catapult their impact. Widely considered to be one of the most sought-after philanthropic advisors, Kris has helped over 80 foundations and philanthropists strategically allocate and assess over half a billion dollars in grants and gifts.
10 Places That Will Pay You to Live There moneywise.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneywise.com Daily Mail and Mail on Sunday newspapers.