Leverage is Critical to Effective Philanthropy
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.”
Read more here.