Communities of Coastal Georgia

Study of High Net Worth Philanthropists Suggests Tremendous Value Added by Community Foundations

The University of Pennsylvania's Center for High Impact Philanthropy conducted a survey in September 2008 of people with high net worth who make sizable charitable contributions annually.  Many of the top needs these philanthropists identified can be fulfilled through a community foundation.

#1.  They routinely seek advice from peers who they view as experienced philanthropists.  They seek trusted sources to feel absolutely confident in the integrity of the organization and the leadership of its projects.

A community foundation's board is compiled of local community and philanthropic leaders.  Community Foundation staff expends time and resources to verify the integrity, financial stability, and impact of local charities.

#2.  They would like additional opportunities to meet and talk with other donors, to exchange ideas and ask questions in a relaxed "fundraising-free zone."  Additionally, they admit that they don't know how to investigate who else cares about a similar issue or is investigating it.

A communtiy foundation is structured to link donors of similar interests and to provide neutral ground for exchanging ideas and information on local nonprofits.  Field of interest funds can also be created to attract people with similar interests.

#3.  They are suffering from "charitable solicitation and special event overload."

A fund at a community foundation can act as an effective layer of insulation, and can even offer complete anonymity.  A fund holder can simply say "I do all my giving through the community foundation, please send them information on your organization/program."  Staff can then work with the donor to evaluate whether this is a grant he/she wishes to consider.

#4.  They would love a resource that would allow them to get information on an organization or need without contacting the organization directly and risk raising expectations for a future gift.

Our community foundation regularly posts a  "wish list" of projects and urgent needs that have been vetted by community foundation staff.  We also have extensive files for many local organizations that hold in-depth governance, fiduciary, and background information as well as program evaluations from past community foundation grant awards.  We offer our donors the ability to conduct anonymous investigation as well as anonymous giving.

#5.  They frequently report that it is difficult to track the results of their gifts.  Consequently, some said that they intentionally give to tangible or time-limited projects such as a new building or a scholarship with easy-to-observe results.

A communtiy foundation can evaluate the project to which you have given.  Using impact evalutation methods, staff can report on less-tangible, but vital programs that seek to influence behavior, lower risk, or prevent actions.

#6.  They cite that often they are overwhelmed with academic research data and reports available on the web for a subject in which they are interested.  They would like simple, straightforward information that quickly identifies need and possible avenues of approach.

Our community foundation staff can conduct research for you on a given issue.  As we mature, we will issue concise, "user-friendly" white paper reports on a number of community issues.

#7.  They often do not think of themselves as "philanthropists" and aren't sure exactly what the term means or how it differs from "charitable giving."

Community foundations are in the business of explaining and encouraging philanthropy that is thoughtful, strategic, long-term, issue-oriented, and entrepreneurial.