If only they thought of it and knew how to go about it, novice donors could benefit by donating their money to foundations and making use of their expertise in getting their donations to the heart of the problem they are concerned about. So suggests a new report from New Philanthropy Capital, Achieving More Together. The benefits of foundations and individuals working together, where their interests overlap, has already been established, says the report, but so far the practice is not widespread, partly because few new donors are aware that this is an option.
As Jacob Harold’s article in the latest issue of Alliance ‘Regranting: smart humility’ suggests, however, it has made some headway in the US, where apart from the well-publicized example of Warren Buffett, the Gates Foundation has received a substantial amount in unsolicited donations.
If donors don’t realize that regranting is an option, the same is often true of foundations. They may also hesitate, says the report, because they are worried about the impact that receiving external funding may have on their culture, strategy and/or reputation.