A new webinar series by WINGS is discussing some of the key issues from The Global Landscape of Philanthropy report, one year after it was launched. The report compiles a comprehensive picture of current trends and challenges of the field.
The first webinar of the series centred on the #NextPhilanthropy initiative, and on the present context of increasing changes for the philanthropic sector, aiming to understand the key trends that will shape the field in the coming years.
Here were some of the highlights:
‘The classical model is now not the only model’
Andrew Milner, author of the Global Landscape Report, spoke of the shift of foundation models as more assets are being used to pursue their mission. Milner referred to the Heron Foundation and Chan Zuckerberg Initiative as recent examples of different ways to deliver philanthropic work.
Milner also explained the blurring of the ‘for profit’ and ‘not for profit’ distinctions, and how the rise of community philanthropy has also led to a focus on building trust and relationships rather than purely generating funds.
Andrew shared how digital technology is impacting philanthropy, as evidenced by the increase in online funding and crowdfunding, as well as the emergence of organisations like Solve Education who deliver their educational programmes through smartphones.
Speaking on the #NextPhilanthropy initiative, Andrew Milner said: ‘We’re in a very dynamic environment. Foundations are built to last but philanthropy is changing all the time so we need to see what’s around the corner.’
‘We no longer need the confines of an organisation’
Felix Oldenburg, German Association of Foundations CEO, echoed Andrew’s analysis on how digital platforms have changed engagement. Felix described the increase in transparency and the different ways of sharing data as significant trends. He stressed the increased collective of individual donors, alongside a global solutions base, as drivers of the shift.
‘It’s tough to see where philanthropy is going but we have a number of hypotheses – it’s more global, there’s more cross-border giving. More than ever before philanthropists have the choice on where and how they want to engage philanthropy.’
‘The next generation’
Allison Hollowell, Chief Strategy Officer at Asian Venture Philanthropy Network, set the scene by stating that Asia ‘is a tale of two regions’.
‘It’s the farthest behind in SDG targets but Asia is set to have the world’s largest concentration of wealth in four years.’ Hollowell explained that there has been some innovation in channelling this wealth, but it’s been curbed by a lack of infrastructure and talent. Family foundations in particular are struggling with resources and recruiting professionals. She believes this is a key entry point for AVPN, fostering cross-sector collaboration with increased interest in this collaborative philanthropy from Asian funders.
Alison also spoke of ‘two pocket syndrome’ as wealth is passed to the next generation. Thirty-five per cent of Asia’s wealth is expected to be in the hands of millennials within the next five to seven years. Hollowell explained that there will be a convergence of ‘making money’ and ‘giving back’, triggered by factors such as the climate and being left with a broken planet shaping their values and invests.
Listen to whole webinar below: