Giving Compass’ Take:
• Vu Le implores nonprofits to shed destructive philosophies and focus on giving unselfishly to collectively thwart coronavirus.
• Why is it so difficult to let go of restrictive funding policies within an organization, like the 5% annual payout rate? How can you convince your colleagues to start giving unselfishly and more generously right now?
• Learn more about the necessity for sharply increasing your giving today.
The urgency of this moment means we and the people we serve can no longer afford for us to put up with ineffective or destructive philosophies and practices. Besides deaths from the virus itself, there will be significant increase in global poverty. Starvation threaten to kill millions more in the years ahead.
For us and our community to be OK, we have to look out for one another, and this means we don’t just think about what we can do, but what we are willing to give up, which is much harder. Here are a few key things nonprofits, in looking out for one another, must consciously think about giving up:
Financial resources: While many arts organizations are suffering and possibly facing permanent closure, some larger more well-connected ones are being strongly supported by their base of donors. This is great. And if this is your organization, think about what resources you can give up to help other organizations who are struggling.
Relationships: Figure out which ones you can transfer to the people and organizations who could benefit from them, even if it does mean you may ultimately lose those relationships; for instance, by introducing a donor to another mission, the donor may shift their support. It also means being thoughtful in speaking up against those in power, and thus possibly burning some bridges.
A sense of certainty: If we know that funding will come tomorrow, we would be more generous today, but we don’t know, and so we hoard and we avoid taking risks. This is also a reason why many foundations cling to the 5% minimum payout rule. We have to be willing to give up some sense of certainty.
Read the full article about giving unselfishly by Vu Le at Nonprofit AF.
If you are looking for more articles and resources for Impact Philanthropy, take a look at these Giving Compass selections related to impact giving and Impact Philanthropy.
Looking for a way to get involved?
If you are interested in COVID-19, please see these relevant events, training, conferences or volunteering opportunities the Giving Compass team recommends.
Are you ready to give?
In addition to learning and connecting with others, taking action is a key step towards becoming an impact giver. If you are interested in giving with impact for COVID-19 take a look at these Giving Funds, Charitable Organizations or Projects.