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Today’s challenges demand a new level of agility and creativity from philanthropy. Traditional models of giving are evolving as funders seek innovative ways to deploy resources, drive systemic change, and respond to urgent needs without sacrificing long-term impact.
On May 6, NationSwell convened senior leaders for a candid discussion on Innovative Philanthropy in Times of Uncertainty and Urgency. Some of the key insights that surfaced during the course of the discussion appear below:
Key takeaways:
Be in community; talk through the anxiety and surface needs among your partners and peers. Amid pervasive feelings of “stuckness” among funders and grantees alike, continuing to have tough conversations and be in relationship with those who can appreciate the unique difficulties of this moment will be an invaluable tool. Connecting with others who want to solve problems — even when the problems seem insurmountable — and conducting regular pulse checks with grantees can sometimes be the best antidote to malaise, anxiety, and fear.
If your organization doesn’t have the right support to offer, help connect to those who do. Even when funders don’t have the right tools or expertise to directly support their grantees or partners, they can still play a valuable role by acting as connectors. By brokering relationships, making introductions, or spotlighting other resources to tap, funders can help ensure their partners get the support they need without overextending their own capabilities. Influence and networks can be just as valuable as dollars.
Adjust your strategy with the long view in mind — and stay true to it. Especially in times of uncertainty, crafting intentional and precise strategies around your funding philosophy and partnership strategies will help you to stay true to your mission, goals, and organizational identity. Once established, hold to the strategies you’ve crafted so thoughtfully and intentionally. Push through the inclination to “freeze”; move forward with confidence, clarity, and adaptability.
Explore “pooled funds” and strategic coordination with fellow funders. By sharing financial commitments, funders can support innovative or high-risk projects with less individual exposure, making it easier to pilot new ideas or respond to urgent needs. Pooled funds can also help to streamline support for nonprofit partners, reducing the administrative burden of managing multiple relationships and reporting requirements and allowing them to focus on driving impact.
Consider the value of forging fewer, deeper partnerships. Some funders are focusing on larger, more impactful strategic collaborations with a few key partners to maximize impact and efficiency.
When possible, support partners with multi-year, unrestricted grants. Knowing that funding is secure for several years makes organizations more likely to experiment, innovate, and take calculated risks that could lead to greater impact without the added pressure of fundraising. For funders, multi-year grants support a more strategic, long-term approach to philanthropy, allowing for deeper alignment with organizational values and mission.Engage your internal stakeholders. Actively bringing in employees, agents, and other internal stakeholders in partnership activities can help to deepen your organization’s relationships and extend the reach of your partnerships. Particularly in times of deep division, taking the time to forge and fortify deep personal connections will be a critical component of long-term resilience.