GOOD READ: Tools for Good: A Guide to Vehicles for Philanthropy and Charitable Giving
Tools for Good: A Guide to Vehicles for Philanthropy and Charitable Giving
In evaluating whether or not a community foundation is prepared to launch a programmatic initiative, it should first assess the philanthropic landscape of the area that it serves in order to project the initiative’s sustainability. This reading, which evaluates the varying philanthropic channels through which giving occurs, offers community foundations detailed insight about the challenges of garnering support for their initiatives.
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As intergenerational transfers of wealth have created more opportunities for giving, a number of creative alternatives in philanthropy have been established and exercised. “High-engagement philanthropy, donor collaboration and interaction, collaborative funding, professional support, and family philanthropy” all lend themselves to supporting the programmatic initiatives that a community foundation establishes.
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One of the most reliable forms of funding that a community foundation can generate to support its initiatives is direct giving from the community it serves. By keeping donors informed of the development, success, and challenges of its initiatives, community foundations can continue to cultivate passion within their donors that is tied directly to donors’ sense of value and priorities. In addition, by continuously managing contact with contributors, community foundations can also look forward to creating extended giving circles around the relationships that have been built with individual donors. Giving circles have “become a popular way for donors to leverage their gifts, while networking with peers and educating themselves about giving opportunities and strategies (162).” Direct testimony from one highly engaged donor is a favorable asset to fortify loyalty among potential donors and supporters of a community foundation’s initiative.
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As giving practices vary from country to country, community foundations must be cognizant of the philanthropic environment in which they operate before attempting to secure support for its initiatives. Religion, legal implications, tax motivations, and the maturity at which philanthropy has been developed in a particular community are all significant factors that help a community foundation determine its potential success for implementing and supporting a programmatic initiative.