ten able to accomplish goals that would elude the staff at multi-billion-dollar foundations .
2 . Turn on the ignition : What are the issues that build upon your clients ’ passions and strengths ? How they spend money is ultimately more important than how much they spend . They should also be able to champion causes they have direct experience with . That could help them bring attention to “ orphaned ” causes that have been overlooked by other philanthropists ( or that are too controversial for governments to tackle ).
3 . Find GPS coordinates : Encourage your clients to conduct research to understand the complexities of their chosen issues . They should get input from people affected by the problem , nonprofits dedicated to a related mission , consultants and other philanthropists . They should also know who else is working on the problem , what ’ s already been done and what impact that work
entrepreneur-Turned-Philanthropist leads High-impact Foundation
Before your clients begin work or commit a single dollar , you should prompt them to define their ultimate goals in detail ... advise them to think of specific mileposts that will help them mark progress .
has had . When they do these things , they will avoid wasting money and might yield some important allies .
4 . Check travel conditions : Success in philanthropy , just like it is in business , depends on situational factors . To what degree is the environment receptive and ready for change ? If your clients ’ issues are ripe for action , have them assess the social urgency of their cause and the feasibility of their efforts . They should strive to understand how much attention and support they can
one good example of strategic startup philanthropy is the work of our client , the seldin Haring-smith foundation . it ’ s a small foundation ( its annual operating and grant-making budget is less than $ 1 million ). But it is changing the public conversation and driving policy change in higher education . its co-founder , Abigail seldin , an entrepreneur who established and sold an education technology startup , draws on her business experience to direct the foundation ’ s mission and devise unique approaches to effecting change . over the past two years , the foundation has funded new research on a variety of higher education topics , including public transit gaps at community colleges and financial aid access for low-income students . With an emphasis on short time lines and topics relevant to the national conversation , the seldin Haring-smith foundation can trace the impact of its grants to front-page news coverage and new bipartisan legislation . The foundation helps to keep its grant recipients focused on the big picture by eschewing the formal evaluations required by many foundations in favor of a different goal : grant recipients are asked to write and place opinion essays in relevant media outlets to share the resulting work and ignite public dialogue .
Though some foundations work only with other nonprofits , the seldin Haring-smith foundation partners with the private sector to drive impact at scale with speed . its recent work includes the production of a new photo series on college students with getty images and a free financial aid appeals tool with formswift , a digital document company . for a small foundation , it delivers exceptionally big impact . expect — and where more efforts might be required to increase awareness and prioritization .
5 . Know the destination : Before your clients begin work or commit a single dollar , you should prompt them to define their ultimate goals in detail . If they have , say , a 20-year solution horizon or longer , advise them to think of specific mileposts that will help them mark progress . This will focus their attention and efforts on what can be reasonably accomplished and help keep them energized by working toward attainable near-term goals .
6 . Use all gears : Once your clients know what they want to do , how are they going to do it ? One source of help is a private foundation . Such an organization can place a wide range of resources at the clients ’ disposal and help them develop innovative tactics : advocacy , media campaigns , awards and scholarships , mission-related investments , research and polling , litigation , demonstration projects , coalition building , documentary filmmaking , and direct charitable activities , among many other things . Clients have to find the approaches that match the problem , find out what stage it ’ s in and determine the conditions on the ground .
In sum , helping clients use their business skills and strengths to drive change can be an invigorating and rewarding process for both of you . It has the added benefit of solving social issues and improving the world .
Gillian Howell is head of client advisory solutions for foundation source , which provides comprehensive support services for private foundations . The firm works in partnership with financial and legal advisors as well as directly with individuals and families .
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