by Laura Starita, Alliance Magazine; December 1, 2008
Donor advisory firms have paved the way to assist wealthy individuals and families who want more information about the effectiveness of their giving. According to a recent study by the Boston College Center on Wealth and Philanthropy, 66% of wealthy donors surveyed said they would give more — and differently — if they had information about the effectiveness of their gifts.
Two former partners at Goldman Sachs, Gavyn Davies and Peter Wheeler, created New Philanthropy Capital in 2002 in the UK to provide what they felt was lacking: high-level philanthropic research and a bespoke advisory service. Other groups have also grown to assist burgeoning philanthropists develop a giving strategy, provide due diligence, and evaluate results. Philanthropic advisory models abound such as conferences and seminars for like-minded donors to access philanthropy experts and to exchange ideas about strategies and grantees.
This author raises the question of whether philanthropic advisory services are financially viable as stand-alone entities. The article suggests that as philanthropic advisory services continue to emerge, advisors may need to collaborate with others in the nonprofit sector to gather information relevant to good investing.
For the complete article visit: www.alliancemagazine.org