NewsBits: Philanthropy in 2033; A Look Ahead
Sean Stannard-Stockton has re-published his March 2008 Financial Times column on the social stock exchanges of the future.
Philanthropy is undergoing a transformational shift. While most donors continue to give in the same ways they have for 100 years, the vanguard of philanthropy is busily reforming the fabric of the charitable sector.
Often referred to as the “social capital markets” and characterized by a model of giving that mirrors the financial markets, this emerging model is still in its infancy. Since you can create only that which you imagine, I thought I would take a quick trip 25 years into the future to see what philanthropy might become.
For many donors, the year 2033 does not look a whole lot different from 2008. Many people simply write checks to charities and devote the bulk of their giving to non-profit organizations in their community.
But for some donors, the landscape is radically different. The “social stock exchanges” that became popular between 2011 and 2019 now include all but a few large non-profits and many small but ambitious start-ups.
Here’s more around the philanthropic world:
from kcra.com (Sacramento):
Charitable donors need to do their homework before giving, California’s attorney general said Friday, warning that much of their money may never reach the benefit for which it was intended.
Professional fundraising firms on average are keeping more than half of the charitable donations they collect, Attorney General Jerry Brown said in his annual report.
from Getting to the Point (Katya Andresen):
5. Freelance fundraisers: Social networking, online fundraising and charity widgets have meant anyone can not only rate a charity, they can fundraise for a charity. With 10x growth in giving on Facebook this year and the success of event-based and friends-to-friends campaigns, it’s clear that unofficial fundraisers are here to stay – and we need to empower them to take action on our behalf.
6. Trust and transparency: This is more than a buzzword(s), it’s a permanent shift. 2009 was a year of big lies. People don’t trust institutions or organizations as much as they trust who they know. Third-party endorsement has never been so important for your organization – as well as showing transparency and accountability in all you do.
When nonprofits think social media, they usually apply it to all things external: branding, marketing, advocacy, fundraising and community building. One seldom hears discussion on how social media applies internally in the service of integrity, efficacy and accountability.