Giving Compass' Take:

• Rockefeller Philanthropy Advisors lists three lessons from the Rockefeller philanthropic legacy that could apply to today's donors, including the importance of collaboration.

• How many of these values are we incorporating into our giving strategy? How might they be modernized?

• Here's why listening to those we aim to serve is so important in high impact philanthropy.

The Rockefeller legacy helped usher our society into a new wave of modern philanthropy focused on the belief that with wealth comes responsibility to improve the lives of others. While their giving traditions were established over 150 years ago, modern philanthropists can still learn from their values and giving strategy.

 

1. Reassess and readapt giving plans to meet the changing needs of the public

In today’s world, things are changing faster than ever and philanthropy is evolving with it. In the interest of maintaining a relevant and effective giving plan, donors should regularly reassess their projects and make updates if appropriate.

2. Encourage and involve the next generation of philanthropists

Since then, philanthropy has been an enduring cornerstone of the Rockefeller family values passed down to each generation. Rockefellers have continually taught their children the importance of giving back by involving them in projects or allocating them the resources to launch their own.

3. Collaborate for greater impact

By pooling their resources, younger generations have an opportunity to forge deeper relationships while discovering new ways to increase their projects’ effectiveness.

Read the full article on timeless lessons for donors at Rockefeller Philanthropy Advisors.