Many foundations do not think strategically about how they can create the greatest value with the resources they have at their disposal.
Issues facing foundations: some scatter their funding too broadly, overlook the value-creating potential of longer and closer relationships with grantees, pay insufficient attention to quantifying the result of the activities they fund, make do with little professional help, are overwhelmed with funding requests, do not have experienced philanthropy advisors, have no ability to assume supervision of the project they fund and try to avoid the administrative costs of offices or staff.
Despite these challenges, philanthropy remains an important part of the lives and the wealth plan for many individuals and families. Philanthropy begins as a vision, evolves to a passion and often becomes part of an individual or family identity. Responsible planned giving creates a lasting legacy for entire families bringing with it a sense of honour, duty and accomplishment. Foundations can be a forum for bringing families together in a shared enterprise which often includes educating future generations about value and responsibility of wealth. Foundations now contribute billions of dollars annually to educational, religious, humanitarian and cultural organizations of all kinds.
The demands of managing a planned giving strategy have grown exponentially and become more complex. The complexities include navigating regulations and reporting, deciding whether to establish a foundation, a charitable trust, a donor advised fund or some other structure, responding to an overwhelming number of charitable requests, ensuring the organizations you are supporting are reliable and efficient or focusing on a distinctive philanthropic mission that makes a real difference in people’s lives.
At Philigence we know how to make philanthropy more efficient and effective. We take care of the details so you can focus on what you do best: making a difference.