Giving Compass' Take:
- Here are some practices enhanced and supported by technology that can help donors pursue a trust-based philanthropy approach.
- What are the benefits of effectively implementing trust-based philanthropy?
- Read more about the future of trust-based funding.
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Fundamentally, trust-based philanthropy is about knocking down barriers and bringing balance to the inequities built into funder-nonprofit relationships. If we’re talking about adjusting existing structures, trust is about minimizing administrative burdens for grantseekers For many grantmakers, a trust-based approach involves streamlining requirements around everything from application intake to the post-award grantor/grantee relationship. Many don’t have the structures or processes in place to support this.
Fortunately, there are tactics that are supported by technology that can be implemented to help ease the transition to a trust-based approach.
- Tracking grantee engagements outside of the standard grant
- Supporting multiyear operating grants
- Shifting to a trust-based approach is about simplification
- Reduce applicant burden from the outset.
- Leverage third-party verification services.
- Simplify application forms.
Read the full article about trust-based philanthropy by Greg Stanley at PEAK Grantmaking.