Philanthropy is undergoing a revolution.
It used to be that wealthy donors were happy sending an annual check, trusting in charitable organizations to use funds effectively. Now they want to be more involved and more targeted in their giving. This is certainly a welcome change. The families who give together through Donor Advised Funds want to target those funds making an effort to have measurable impact. They are becoming 'high impact philanthropists.' How might Donor Advised Funds engage these high impact philanthropist?
Engagned Impact Philanthropy Through Better Social Impact Communication
Donor Advised Funds help families or invidual donors decide target areas by asking strategic questions like:
- what is your charitable mission?
- what resources (money, time, skills, assets etc.) are you contributing?
- do you want to align or structure your giving toward a particular outcome?
Donor Advised Funds hold the potential for strategically planned impact on local communities. This impact is the product of thoughtful financial advice, alignment with donors' missions, leveraging resources such as Guidestar, and targetted giving practices. But if someone were to ask your Donor Advised Fund, what is your impact? or how can you get more donors engaged in the process? - would your answer be able to go beyond general output analysis?
How can Donor Advised Funds show a deeper impact demonstration? The leveraging of technology can help in impact assessment and communication.
Impact management tools like Impact Cloud can do just that, enabling users to:
design a custom impact framework
collect the data for selected metrics from donation recipients
analyze visualized data charts for quick insights and quick sharing
develop impact demonstration reports
By effectively sharing impact data with high impact philanthropists, Funds can improve their engagement, driving recurring donations. Not only that, but as major participants in funneling funding within communities, impact tracking and engaged philanthropists can collaborate towards building better communities.