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"The New Frontier of Foundation Giving"

November 16, 2010 - Program Summary

On November 16, 2010, major gifts officers, foundation relation officers, and others attended a panel on the changing nature of foundation relations. "The New Frontier of Foundation Giving," featured Michael Dettelbach of Boston University, Donald J. Greene of Bank of America Merrill Lynch's Philanthropic Services Group, and Janet Wasserstein of the Massachusetts Institute of Technology.

Michael Dettelbach kicked off the session with an overview of foundation giving and how it is changing, and shared the observation that many of the most radical changes are being spearheaded by some of the oldest institutions, such as the Rockefeller Foundation.

Don Greene followed with just-released information from the Bank's biennial study of high net worth individuals, many of whom form family foundations or create donor advised funds with financial institutions. Chief among the findings was that while these donors are highly desirous that their gifts have impact, what most influences their philanthropic choices is whether an organization demonstrates sound business practices. Don suggested that those seeking funding would do well to develop a prospectus showing that their organizations are well-run.

Janet Wasserstein rounded out the session with an overview of social entrepreneurial foundations, an increasingly popular vehicle for high net worth individuals particularly interested in making a direct impact with their charitable giving. These donors' main concern is creating actionable knowledge, with one example being the film Waiting for Superman. Janet suggested that those wishing to keep abreast of the ever-changing developments in this area might follow the "Tactical Philanthropy" blog.