Giving Compass' Take:

• Catherine Schnaubelt, writing for Forbes, shares pathways toward strategic philanthropy involving finding a cause and defining success.

• How can philanthropists encourage each other to pursue impact driven philanthropy? 

• Need to know more about impact giving? Check out the Center for High Impact Philanthropy Magazine on Giving Compass. 

Strategic philanthropy is a way to give more effectively. It is often embraced by those who are in a financial position or state of mind to leave a legacy of charitable giving, who also wish to measure the impact of their gifts. However, anyone that regularly writes checks to their favorite organizations and causes can develop a more strategic approach to giving.

Although strategic philanthropy requires time and discipline, those who practice it often achieve more meaningful results. Whether your gifts are motivated by financial reasons or pure generosity, the following steps can help you develop a process to be more strategic and effective about giving.

  • Determine a Cause: Determining your motivations for giving is the first step in developing an effective strategy. If you are a more experienced donor, reviewing your past donations can help you discover where your passions lie.
  • Involve Your Family: Philanthropic giving is often an expression of a person’s beliefs and values, a way to connect with others in the community or with family, and an opportunity to create a legacy that can be passed to future generations.
  • Have an Impact: To determine whether the process you have developed is making an impact, it’s important to first understand how you and your family define success. Once you have clearly defined what you want to achieve, an effective giving strategy includes a set of criteria and milestones to measure whether your efforts are indeed successful.

The journey to making a measurable impact is often long, requiring patience and flexibility. However, philanthropic giving is also a great way to engage loved ones and future generations while creating a legacy of generosity.

Read the full article about strategic philanthropy by Catherine Schnaubelt at Forbes