When Benjamin Franklin died in 1790, he bequested $4,500 each to the people of Boston and Philadelphia, to be invested for 200 years. The idea was that the matured investments would be of far greater benefit to the people. We know now of course that Franklin’s $4,500 would actually have gone a lot further in 1790 than it did 1990. But Franklin’s fixation on doing what he thought would achieve the greatest impact is an important lesson for social entrepreneurs.
As nonprofit innovators, at least half our role as agents for change is to educate our donors and stakeholders. We should support and guide them in philanthropic practices that best match their personalities and wishes, nurturing and informing ideas with the goal of maximizing impact–not acquiring a donation. While their ideas may not always turn out to be the right ones–as in Franklin’s case–nor may they always result in a meaningful contribution to your organization, the good will you create by fostering a culture of philanthropy will ultimately reap long-term rewards for your organization.
Talk to your donors and potential donors regularly. Inform them of innovations in philanthropy; give them books to read on current philanthropic trends. Create networking opportunities where they can connect with other philanthropists. Invite them into the inner circle of your organization and show them the value of your work, and the value of others who are also doing good work in your field. Ask for their opinion and when relevant, incorporate their ideas into your programming and strategy. The purpose of cultivating a culture of philanthropy is to move beyond acquiring the one-off million dollar gift to keep your programs rolling along. Instead, grow social entrepreneurs out of your everyday donors and focus the collective energy on achieving permanent, positive societal changes.
