FAIRFIELD, Conn., March 09, 2016 (GLOBE NEWSWIRE) -- Inspired by Bill Gates, Mark Zuckerberg, and Sean Parker, many of today’s emerging philanthropists are becoming more strategic in distributing their philanthropic capital. Rather than pulling out a checkbook at a fundraising dinner, they’re focused on creating ground-breaking solutions to today’s problems. Yet despite the growing interest in this more entrepreneurial approach to philanthropy, there is little guidance on how to do it. Now, Foundation Source, the nation’s largest provider of comprehensive services for private foundations, has produced a brief guide that explains how today’s philanthropists can get in gear: Driving Change: A Guide to Entrepreneurial Philanthropy.
Written by Foundation Source Chief Philanthropic Officer Page Snow, Driving Change: A Guide to Entrepreneurial Philanthropy, advises donors to select an issue of personal concern where they can have an impact and leverage their business acumen, contacts, and creativity toward its resolution. By drawing upon the same skills that made them successful in business, they can go beyond traditional, year-end grantmaking and try bold solutions that engage their passions.
“In working with high-net-worth individuals, I’m struck by the fact that they often see their philanthropy as distinct from their everyday lives,” says Ms. Snow. “Because they may not recognize where they are uniquely qualified to make a difference, they resign themselves to ‘doing good’ rather than solving real-world problems. It’s a missed opportunity because they have almost limitless possibilities to effect change through their private foundations—whether they want to create a documentary film to raise awareness of human trafficking, hire an independent consultant to find the least expensive way to remove lead from drinking water, or make a grant to a for-profit business that is developing a vaccine against the Zika virus.”
According to Chief Executive Officer Robert Chartener, the guide reflects growing interest in entrepreneurial philanthropy among Foundation Source clients: “Many of our clients are first-generation wealth creators who decided to start private foundations after successful careers in business. They understand the potential of combining a great idea with business-like efficiency. In fact, many of them have chosen Foundation Source because our complete, outsourced service model eliminates the need for costly staff and infrastructure. The private foundation is the most powerful and most flexible vehicle for philanthropy. We give even small foundations capacity that was once reserved for only a handful of the largest, professionally staffed foundations.”
Driving Change: A Guide to Entrepreneurial Philanthropy is available both online as an interactive digital booklet and in print from the same link: http://www.foundationsource.com/drivingchange/.
About Foundation Source (www.foundationsource.com)
Foundation Source is the nation’s largest provider of comprehensive support services for private foundations. The company’s administrative services, online foundation management tools, and philanthropic advisory services provide a complete outsourced solution, including the creation of new foundations. Now in its second decade, Foundation Source provides its services to more than 1,200 family, corporate, and professionally staffed foundations, of all sizes, nationwide. The company works in partnership with wealth management firms, law firms, and accounting firms, as well as directly with individuals and families. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Atlanta, Boston, Chicago, Los Angeles, New York City, Philadelphia, San Francisco, Seattle, South Florida, and Washington, D.C.
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Source: Foundation Source