Foundation Source, a Fairfield, Conn., organization that helps philanthropists establish and manage foundations, has launched three new tools to help with that effort.
The tools, presented in a package called “Driving Change,” are designed to serve as an introduction for donors and their advisors who want to be more entrepreneurial in their approach to philanthropy, says Foundation Source. A portal on the website encourages donors to select an issue of personal concern and bring their business acumen, contacts and creativity to bear to build philanthropic solutions, Foundation Source says.
A downloadable PDF guide, also available in a hard copy booklet, explains the impact philanthropy can have.
There is also an on-demand Webinar. It looks through the PDF guide and provides a real life example of entrepreneurial philanthropy in action -- specifically, billionaire Tom Siebel’s Meth Project.
All of this is intended to serve as a light introduction to the topic, Foundation Source says.
“There have been a lot of things written to encourage advisors to have the philanthropy conversation with clients, especially during this volatile market. They usually talk about it as a tax strategy, but do not talk much about philanthropy as a life fulfillment,” says Page Snow, chief philanthropic and marketing office for Foundation Source.
“Entrepreneurial philanthropy can be an agent of change, and there are a lot more ways to do this through a foundation,” Snow says. “Philanthropists can give grants to individuals, they can run their own programs or projects, they can fund both not-for-profit and for-profit endeavors.”
“I wrote this guide to get advisors to think about expanding the way they talk to clients about the potential for philanthropy,” she adds.