As a foundation, philanthropy is your business. Like a company, you need a vision and mission, and a strategic approach to maximize your impact. If you’re a small or relatively new foundation, you may not yet have a fully formed vision or an effective strategy. You may need help organizing your giving, establishing and communicating grant guidelines, and evaluating grant applications. If you’re a mature, well-established organization, it may be time to take a critical look at your stated mission, processes, communication strategies, guidelines, and objectives to ensure that operating efficiently and effectively. Or, you may need help designing and implementing a specific project or program within your mission.
You may also be seeking to engage in strategic impact investing, aligning your investments with your mission and utilizing tools like program-related investments (PRIs), mission-related investments (MRIs) and socially-responsible investments (SRIs)
Whatever your age or size, it’s essential to consider questions such as:
- Who makes philanthropic decisions for the foundation?
- What criteria are applied to those decisions?
- What systems are in place to evaluate grant requests?
- How do you investigate and research which charities will receive your donations?
- How do you evaluate the impact of your grants?
- Are there opportunities to partner with other foundations to achieve greater impact?
- Do you have specific projects you’d like to undertake for which you lack sufficient staff to implement?
- Are there nonprofits whose mission you support but who lack the capacity to fully implement their mission? Would you like to help them improve their capacity before funding their programs?
- What accountability is there from the nonprofit organizations to which you give?
- Are you using PRIs, MRIs and SRIs to align your investments with your mission?
These are just some of the issues that you may need to address. Click here to learn about the services provided by The DeBoskey Group to foundations. Whether you’re a small organization without extensive internal resources or a large organization that can benefit from outside expertise, The DeBoskey Group can help.