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Is Family Philanthropy Ready for New Giving New Giving - CoF13 Responses

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Responses from family philanthropy staff and board members to how crowdfunding and grassroots giving circles could complement or detract from their family philanthropy

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Is Family Philanthropy Ready for New Giving New Giving - CoF13 Responses

  1. 1. Is Philanthropy Ready for Adventures in New Giving?2013 CoF Family Philanthropy ConferenceThink of your family’s foundation/fund and discuss how the trends and tools of “new giving” mightstrengthen or complement OR weaken or distract from the topics below. – Answers from the sessionattendees Sense of shared legacy, values, and missionStrengthen or complement… Weaken or distract from…• Can improve communications about issues • Does it create expand a generational divide?• Helps involve younger generation • Is it the technology and quickness too risky for• Can empower small foundations to leverage a an older generation? greater impact• Can excite new members• Could be an employee engagement platform for family businesses Support for existing granteesStrengthen or complement… Weaken or distract from…• Support fundraising capacity for one-off • Individual projects wouldn’t lead to a campaigns or simple ideas to sell comprehensive overview of an issue• Support capacity for disaster fundraising• Helps them find new ideas• Provides global access to ideas and resources• Foundation can provide matching grants to engage the crowd• Location-based support• Creates wider community involvement• Opens up other doors – not an either/or but a both/and to what the foundation already does Needs for oversight and accountabilityStrengthen or complement… Weaken or distract from…• Grassroots giving groups can support projects • Gov’t oversight makes it problematic to foundations can’t – cut through tax issues support individuals• How to balance innovation and accountability • Need assurance about proper due diligence and legal issues – adds a layer of complexity to grants • Higher level of risk and trust • How to support programs without finite beginnings and endings? • Board and staff education needed about the issues and optionsErin Barnes (ioby.org), Nathaniel James (philanthrogeek.com), Tony Macklin (rahuntfdn.org) 1
  2. 2. Is Philanthropy Ready for Adventures in New Giving?2013 CoF Family Philanthropy Conference Involvement of all generations in your grantmaking?Strengthen or complement… Weaken or distract from…• Younger generation less likely to care if a good • Too immediate – funding short-term fixes idea comes from a tax-exempt org instead of fixing problems• Meets the Next Generation members “where • Shifts focus from traditional grantmaking goals they are.” Next Gen expects technology access. This adds new dimensions of giving from younger trustees.• Can be a glue that brings the family together – a foundation exists from more than just grantmaking• Family members and/or foundation grants matching crowdsourcing drive• Engages different people in new thought processes Ability to find ideas that meet your grantmaking goals?Strengthen or complement… Weaken or distract from…• Good for problems that aren’t overly complex • Not a good solution for complex, system• Yes – find innovative ideas problems• Able to find organizations focused on voter • Problem with our giving to only 501(c)(3)s mobilization when that was a subject that • Foundations not staffed or sophisticated interested a younger member (no time for a enough to handle this traditional grant round) • How to balance short-term and long-term• Can complement and expand the current focus systems of giving• Minnesota Idea Open is a good example of a • Need to really look at goals of the foundation – platform do you want the opportunity to find ideas or do• Potential leveraging options you continue with existing focus?• Can create on-ramps for people to be involved • Overall a mixed bag in an issue Community relationship-building work?Strengthen or complement… Weaken or distract from…• Helps us find new ideas • Will this social giving be a short-term fad, or• A great way to bring family foundation work to will this be a sustainable way of bringing the people, to make it understandable money to ideas?Erin Barnes (ioby.org), Nathaniel James (philanthrogeek.com), Tony Macklin (rahuntfdn.org) 2

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