Giving Compass' Take:

• The success of the Spartanburg County Foundation is attributed to looking ahead, adapting with the economy, and adopting practices that flow alongside systems change work. Other foundations should follow suit with these practices.

• What happens if foundations are not able to adapt? How will philanthropists and organizations struggle?

• Read about shifting the mindset of funders and nonprofits in order to build capacity effectively.

Our economic landscape today looks very different than it did 25 years ago. This pattern of change will inevitably continue as technological advancements are rapidly introduced to the world.

To adapt to this new landscape, foundations must be willing to shift and evolve with the changing communities we serve. Seventy-five years ago, our founder— Walter Scott Montgomery—had a vision of introducing community philanthropy to Spartanburg County to meet the needs of the entire area. His vision began with a $10,000 investment that has evolved into a $213 million philanthropic organization that is continuously working to improve the lives of Spartanburg County residents by promoting philanthropy, encouraging local engagement, and responding to community needs.

Community institutions would do well to continue to think ahead and maximize community impact by deploying innovative solutions to the issues facing our region. The success that the Spartanburg County Foundation has seen over the years is partly because of its ability to look ahead, remain flexible, and change when necessary to address local issues.

This is an exciting time for Spartanburg. Last year, our county was selected to participate in Manpower Development Corp.’s (MDC) Network for Southern Economic Mobility, which focuses on building pathways of prosperity for low-income young people between the ages of 14 and 24, by deepening, accelerating, and aligning strategic investments for systemic change.

We are co-hosting a convening in which funders of all types will gather together to explore how philanthropy can be a driving force that promotes broad prosperity. The robust program that will be presented will explore idea exchanges with both peers and subject matter experts on topics such as community leadership, impact investing, resource alignment, and competitive talent development.

Read the full article about inclusive economy by Mary Thomas at Council on Foundations