Five Surprising Things About Philanthropy
Howard H. Stevenson and Shirley Spence are the authors of Getting to Giving: Fundraising the Entrepreneurial Way.
In the debate about the fiscal cliff, it is clear that private philanthropy will have a continuing and growing role. As a donor, nonprofit board member (including at NPR) and fundraiser, I've learned some things over the years about philanthropy. Here are a few things that may surprise you about the art of doing good.
1. No margin, no mission
That's how the nun in charge of a hospital put it when we complimented her on her good work. Similarly, a friend advises the boards to think of themselves as "tax-exempt" rather than "nonprofit." As I see it, nonprofits are the very definition of an entrepreneurial venture; they identify a problem or opportunity and assemble the resources to meet it. It all starts with an economic model that may include earned income, membership revenues and philanthropy. It may be fun to talk about exciting new programs, but I've witnessed the perils of ignoring the numbers.
Grant Brownrigg/Grantland.net