Writing in Saturday’s Financial Times, Charles Bronfman and Jeffrey Solomon urge big donors to become more involved with the charities they support financially. They say that the amount a donor gives to charity is often less important than the leverage that donor brings to an organization.
“At a New York charity auction in May, the Robin Hood Foundation raised $56.5m for its mission of eradicating poverty in the city. This is an extraordinary amount to raise on a single evening. Last year, however, the total was a record $71m.
Some see the fall as further evidence of a slowing economy. Few pundits commented when the foundation raised $71m or $56.5m. From a philanthropic perspective, the total is less the issue than the ability of the organisation to leverage the money and achieve maximum impact – a strategy that the Robin Hood Foundation has pioneered. At this time of economic downturn, this skill will be more important than ever before.”
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