Giving Compass' Take:
- David Goldsmith, writing for PEAK Grantmaking, discusses four grantmaking practices that started during the pandemic but should be adopted by grantmakers beyond the crisis.
- What changes have you made in your charitable giving that can continue in a post-COVID-19 world?
- Read more on how philanthropic vitality can help build a world after coronavirus.
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Few events in history have disrupted the work of grantmakers like the COVID-19 pandemic. Its sudden onset last spring prompted foundations to quickly redeploy their capital, overhaul their grant processes, and realign funding priorities. For a sector like philanthropy, changes this sweeping usually unfold over a period of months, not days or weeks. But not in 2020.
The gravity of the pandemic flipped the script.
Here, we have highlighted four that many foundations now view as table stakes – not just today, but in a post-pandemic world.
- Grantee Relationship Management
The onset of the pandemic set in motion the need for foundation staff to quickly engage with their nonprofit partners at both a tactical and strategic level. With lockdowns in place and remote collaboration becoming the new normal, relationship management took on even greater significance. The volume of information and knowledge-sharing through email, phone calls, online chats, and virtual meetings hasn’t only increased, it has become more critical to capture. - Scenario Planning
When the pandemic first hit, the only certainty for grantmakers was an emerging wave of uncertainty. Scenario planning became a necessity. The task at hand was how to draw upon the foundation’s existing data to make different assumptions about the future, and from there, assess the impact on grantmaking over a set period of time. - Workflow Management
Regardless of how simple or complex a grantmaking process may be, it is tied to one or possibly even hundreds of workflows. Once a grant request is initiated – whether by invitation or unsolicited – workflows will determine how quickly it is reviewed, approved, funded, and evaluated. - E-signatures
Few foundations could anticipate a crisis so severe that it would render their staff and grantees unable to be in the office for an extended period of time. In a flash, the COVID-19 pandemic made it extremely difficult to conduct the business of philanthropy, which involves not just reams of documents, but ones that require signatures.
Read the full article about grantmaking practices by David Goldsmith at PEAK Grantmaking.