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i& #39;m beginning to think the conversation among foundation CEOs and activists about what level of spending is appropriate for the current "crisis" may be missing the point (not a sub at Phil& #39;s piece which I just RT& #39;d and think is great).
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one of the premises underlying the discussion is that there& #39;s a Normal that we& #39;ll all be going back to sometime in the next 6-24 months and that foundations& #39; fiduciary responsibilities demand they stay focused on shepherding their institutions and their endowments there
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i.e. "Our endowment needs to be ready to perform at it& #39;s pre-Crisis level when the Crisis ends"
What if the Crisis doesn& #39;t end? What if our economy, our public health system, our climate, our political systems are shuddering toward a new normal?
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What if the Crisis doesn& #39;t end? What if our economy, our public health system, our climate, our political systems are shuddering toward a new normal?
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this isn& #39;t just a "the rainy day is here!" argument for more spendout.
we need to change our priors and start operating in our new reality instead of planning as if we& #39;re living through a nightmare that will end.
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we need to change our priors and start operating in our new reality instead of planning as if we& #39;re living through a nightmare that will end.
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For foundations that means radically re-envisioning your role in your community and in society broadly, and that& #39;s hard for any institution to do. But at a certain point the conversation about 5% vs 7% payout starts to feel like the denial stage of grief.
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If a new world is almost here, what role will philanthropy play in it? What role will your foundation play? Will your wealth and power ease this transition for those suffering most? Will it be shared broadly so that we can all have an equal say in what comes next?
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Bottom line is this: If you& #39;re a foundation CEO you need to start thinking bigger than changing payout or finding new grantees. Much bigger. Bc the window of "the possible" is expanding rapidly and politicians, activists, tech leaders, etc know that.
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Read the writing on the wall. Philanthropy risks being overtaken by events if they don& #39;t act like they understand that too.
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