We recently held the first North West Philanthropy Network webinar on the topic of ‘Getting Started with Your Philanthropy’. This is a topic that has recently been requested by members of the network as it’s useful to explore for those new to philanthropy as well as for professional advisers who might be broaching the topic of philanthropy with their clients for the first time. Even established funders can find it useful to revisit their motivation for giving and approach to philanthropy.
To consider the philanthropic journey from all sides we heard from three speakers: Helen Whittle, the founder of The Giving Concierge, a boutique provider of philanthropy advice; Pete Yarwood, Grants Coordinator at The Charity Service and Lauren Gupta, Trustee at The Helvellyn Foundation. The webinar was chaired by Olivia Bowen, Partner and Financial Adviser at Castlefield Investment Partners.
Helen spoke about the importance of taking a multi-step approach to philanthropy, beginning with understanding your giving aspirations. At this stage you should consider your beliefs, passions and values and how that feeds into your intentions for your giving. By then refining your focus using a ‘people, places, problems, pathways and philosophies’ lens you can develop a mission statement for your philanthropy ideally in the following format: “My philanthropy exists to [solve what problem] by [taking what action] for [whom].”
Your mission statement can then focus your philanthropy meaning that you can have a deeper, more targeted impact and also allowing you to say no to requests for funding quickly and clearly which reduces time wasted for both the donor and the funding applicant.
Pete then spoke about the process of identifying and researching charities to support guided by the focus in your mission statement. He shared the resources The Charity Services uses including publicly available sources of information (such as the Charity Commission website) and the questions you should consider when talking to potential funding recipients. Pete emphasized the importance of conducting due diligence (for more info see our blog post here) but also the need for proportionality. It is important to recognise that charities are focused on delivering their mission and that overly burdensome requests for information and reports from donors takes charity resources away from where they are most needed. Pete also underlined that The Charity Service works with organisations who initially may not meet our due diligence requirements to improve their systems, governance and reporting as necessary; we always aim to facilitate a gift and to build capacity within the organisations we work with.
Lauren then spoke about the practicalities of bringing everything together into an active giving strategy. As a trustee of a small private family foundation, The Helvellyn Foundation, Lauren has direct experience of developing and refining a philanthropic strategy. She explained that their strategy has developed over several years of grantmaking and they have become more focused and developed clearer processes based on their experiences.
She explained the next steps of establishing how much to give, the length of time to commit funding for, the other support you can offer and how to reach out and build a relationship with your funding recipients. She shared the Helvellyn Foundation’s approach in each of these areas, in particular how they have moved from a ‘one size fits all’ approach to donation amount and length to a more nuanced tiered approach. Lauren explained that communication is so important and it’s very important for a charity to understand how much they will receive and in particular when a funding relationship is likely to end.
Lauren also outlined the additional support that they can offer to their partners, from mentoring to making peer connections with other funding recipients. She also shared the ways in which they find potential funding recipients using a short form on their website, their own networks and desk-based research. They then approach recipients using a standard email and short introductory call that is designed to minimize any administrative burden.
One of Lauren’s key messages that it’s important not to let the perceived risk lead to paralysis: philanthropic support is hugely important and the charity sector is able to make a real difference in the world – so the most important step is to start giving. You can always refine and revisit your giving strategy as you go.
Lauren also particularly emphasized the importance of unrestricted funding both for funding recipients and for the Foundation as funders. She gave examples of when their funding was able to be used in emergency situations or to bridge the gap between contracts for employees who would otherwise have had a period of unemployment.
Overall the key messages of the webinar were that giving can be joyful and rewarding but is at its most impactful when it’s focused. By following some simple planning steps it’s possible to structure your philanthropy in a way that reduces administration for both you as a donor and for funding recipients. It’s always possible to continue to refine and improve the way you give so that you can feel confident in your philanthropy journey.
If have money to give away and would like to discuss your options you can contact Helen Whittle from the Giving Concierge at [email protected] or The Charity Service’s Head of Philanthropy, Rachel Tomlins at [email protected] for an initial chat.
