6 Powerful Tips for Philanthropy Leaders
1. Be a Catalyst for Change. Does it seem like your organization has enough funding, but hasn’t made enough of an impact? Get involved, using the four principles of catalytic philanthropy: take the lead on projects, mobilize others, gather information, and use all available resources. (”Catalytic Philanthropy,” Fall 2009)
2. Engage your Stakeholders. How well do you know the communities you serve? Grantmaking initiatives often fail when the foundation remains isolated from its grantees. By engaging more with your stakeholders, you’ll gain a deeper understanding of the problems they are tackling, create better solutions, and build more effective organizations. (”The Case for Stakeholder Engagement,” Spring 2010)
3. Create a Road Map. Do you have a “theory of change,” or an accepted recipe for success? Some think such theories have no place in the dynamic world of social innovation; others believe it is vital for measuring impact. Consider how a theory might fit with your goals. (”The Power of Theories of Change,” Spring 2010)
4. Look to the People. Where do your ideas come from? Judith Rodin, head of the Rockefeller Foundation, stresses the importance of user-driven innovation: ask your consumers what they want, and incentivize problem-solvers to help your cause by offering rewards. (”Q&A with Judith Rodin,” Summer 2009)
5. Calculate the Outcomes. Corporations, governments, and even people on the street routinely weigh the benefits and costs of their decisions, so why don’t philanthropists? Find out how you can use cost-benefit analysis to evaluate programs and plan long-term strategies. (”Calculated Impact,” Winter 2009)
6. Invite Outside Influence. When was the last time you let an outsider take the lead? Consider deferring to creative thinkers from other fields. Also, give grantees a chance to steer projects, as they often have the most knowledge and passion. (”Effective Funding,” Spring 2009)