Members of SEARCH have been reviewing various ways that philanthropy has evolved over time. This article from the Stanford Social Innovations Review takes a look at how historic growth in wealth globally and the rise of new philanthropists threaten the relevance of institutional philanthropy – while creating new opportunities for impact and relevance.
The article looks at how Foundations’ traditional practices stand in the way by:
- Too much fragmented giving
- Rigidity in budgets and structure
- Being overly prescriptive about strategy
Then it presents three approaches for reimagining institutional philanthropy by:
- Setting time-bound, right-sized goals
- Building in flexibility to concentrate or shift resources
- Ceding control of strategies
Read the entire article here.