If you’ve heard of and wondered about the effectiveness of “Big Bet Philanthropy”, this one’s for you.
Writing for the Stanford Social Innovation Review, Cecilia Conrad, Kristen J. Molyneaux, Ph.D. and David Bowermaster share their six lessons learnt from successful large philanthropic donations. They uncover not random or impulsive “bets”, but more like thoughtfully constructed and enduring “sure bets”. Think of it as durable capital for durable impact.
Not every large grant needs to have all six of these traits to flourish, but the writers argue that if none of the characteristics is present, the odds of positive outcomes greatly diminish:
- The investments ensure recipients become stronger and more durable.
- They are larger and last longer than typical grants, giving grantees much-needed time and flexibility to plan for sustainable growth.
- They target nonprofits that are well-positioned to optimise the utility of large investments.
- They catalyse social innovations that are ready to achieve critical mass.
- They enable and encourage experimentation by nonprofits, rather than imposing funder-driven solutions.
- They embrace collaboration and strengthen existing partnerships, including with the public or private sector.
Read the article ‘Durable Capital for Durable Impact‘ in full for more, including case studies that show these lessons in practice.
