Paul Brest, Hal Harvey

Money Well Spent

A Strategic Plan for Smart Philanthropy

• Gebundenes Buch

Produktbeschreibung

This updated edition guides philanthropists and nonprofit leaders on how to make the best use of philanthropic funding. The book draws on examples from hundreds of foundations and nonprofits to explain how to create and carry out strategies that deliver meaningful results.

Produktdetails

• Verlag: Stanford University Press
• 2nd edition
• Seitenzahl: 392
• Erscheinungstermin: 31. Juli 2018
• Englisch
• Abmessung: 236mm x 161mm x 38mm
• Gewicht: 677g
• ISBN-13: 9781503602618
• ISBN-10: 1503602613
• Artikelnr.: 48861754

Autorenporträt

Paul Brest is former Dean and Professor Emeritus at Stanford Law School, a Lecturer at the Stanford Graduate School of Business, Co-Director of the Stanford Center on Philanthropy and Civil Society, and Co-Director of the Stanford Law and Policy Lab. He was President of the William and Flora Hewlett Foundation from 2000-2012. Hal Harvey is the CEO of Energy Innovation, a San Francisco-based energy and environmental policy firm. Previously, he was founder and CEO of ClimateWorks Foundation, a network of foundations that promote polices to reduce the threat of climate change; Environment Program Director at the William and Flora Hewlett Foundation; and founder and President of the Energy Foundation, a philanthropy supporting policy solutions that advance renewable energy and energy efficiency. He has also set up foundations in China, Europe, and India.

Inhaltsangabe

Contents and Abstracts
Introduction
chapter abstract
The Introduction describes developments since the first edition.
1The Promise of Strategic Philanthropy
chapter abstract
The chapter introduces the framework for strategic philanthropy and
provides guidance for philanthropists' determination of their interests and
objectives. It provides five brief case studies of philanthropic successes
and failures.
2Problem Analysis
chapter abstract
This chapter includes defining the problem the philanthropist is trying to
solve, identifying intended beneficiaries, and understanding the causes of
the problem.
3Developing Solutions
chapter abstract
Having defined the problem, the authors now consider developing possible
solutions. The chosen solution is embodied in a theory of change, or logic
model, which describes the activities necessary to achieve the desired
outcome. To be successful, a strategy must be grounded in evidence that
each step will lead to the next, and ultimately to the desired outcome.
4From Theory to Action
chapter abstract
Designing a strategy is only the start. This chapter examines the
challenges in implementing the strategychallenges sometimes created by the
beneficiaries themselves, sometimes by other stakeholders, and sometimes by
the external environment. The authors discuss how to identify and address
implementation problems.
5Evaluating the Impact of Your Philanthropy
chapter abstract
To characterize a strategy as "evidence-based" means that there is good
reason to believe that it has impactthat it makes a difference compared to
what would have occurred had the strategy not been implemented (the
"counterfactual"). This chapter describes techniques for evaluating the
impact of a program. It also considers the problem of generalizability, or
external validitypredicting whether a strategy that worked in one time and
place will work in others.
6Using Outcome Data to Increase Your Impact
chapter abstract
This chapter examines the use of cost-benefit analysis (CBA), which
compares the total costs of a program with the benefits it produces, in
several contexts: charity evaluation services; a foundation's internal
decision making; pay-for-success, or result-based finance, programs, in
which an organization is paid for achieving agreed-upon outcomes; and a
foundation's consideration of strategies that have a low probability of
success.
7Preparing to Open for Business
chapter abstract
Chapter 7 begins with framework to assist donors in choosing approaches
that fit their needs and values in solving social problems and determining
a focus for their philanthropy.
8Inviting Proposals and Conducting Due Diligence
chapter abstract
The chapter focuses on funders' communications and other interactions with
potential grantees, beginning with the funder's making its goals and
strategies known in advance, and continuing with inviting letters of
inquiry and undertaking due diligence, key aspects of which are reviewing
applicants' theories of change and proposed action plans. The chapter also
discusses the importance of listening, not only to grantees, but to the
voices of one's intended beneficiaries.
9Forms of Philanthropic Engagement and Funding
chapter abstract
Philanthropists can be more or less active in their engagement with
grantees, and can fund grants on a spectrum that runs from providing
unrestricted general operating support to an organization, to funding
specific projects. This chapter proposes criteria for determining the form
of support, and argues for a strong presumption favoring general operating
support when the funder's interests and the organization's activities are
well aligned. The chapter also argues that funders should pay full indirect
costs.
10Impact Investing and Mission Investments
chapter abstract
This chapter explores the realm of socially motivated financial
investments, or so-called impact investments, which involve placing capital
in enterprises that generate social or environmental goods, services, or
ancillary benefits, with the goal of creating beneficial social outcomes.
The investors expect financial returns ranging from the highly
concessionary to market rate or even above market. For an impact investment
to have impact requires that the investee enterprise have impact, along the
lines examined in Chapter 5, and also that the investment increases or
improves the investee's socially valuable outputs or practices, that is:
the investment has "additionality," or create social value. We consider
these issues from the perspective of an individual investor as well as that
of a foundation making program related investment (PRIs), mission related
investment (MRIs), or socially responsible investment (SRIs).
11Working With Others in the Field
chapter abstract
Philanthropists work with many others-including grantee organizations,
governments, businesses and other philanthropists-and, crucially, with the
people their programs are intended to help. The chapter considers methods
of co-funding and collaborating with other philanthropists, developing and
disseminating knowledge, and supporting the field of philanthropy.
12Principles and Practices of Effective Philanthropy
chapter abstract
The chapter considers philanthropists' roles in supporting the development
and dissemination of two fundamentally different forms of knowledge:
knowledge that is basic, theoretical, and has no immediate consequence but
to satisfy people's eternal curiosity; and practical knowledge that has
foreseeable useful applications. With respect to the second, it examines
the process of creating knowledge. The chapter also examines the use of
prizes to induce and recognize innovation, and the role of philanthropy in
building fields.
13Promoting Knowledge
chapter abstract
The chapter has three major parts, the first two of which consider related
ways to improve individuals' welfare: influencing their behavior and
providing goods and services. The third part examines philanthropists'
support of service-delivery organizations from the start-up phase through
so-called "venture philanthropy," to maturity.
14Improving Individual Lives
chapter abstract
The chapter focuses on efforts to change public policy and business
practices, and ends with a section on social movements, including case
studies of the advocacy leading to the enactment of the Affordable Care Act
("Obamacare"), of political activism in two states, of the movement for
cage-free eggs, and of conservative and progressive social movements. The
chapter includes pointers on advocacy.
15Influencing Policy Makers and Businesses
chapter abstract
This chapter considers the features of various organizational
structures-from writing checks at your kitchen table to establishing a
foundation staffed with program officers- for undertaking philanthropy,
with the goal of contributing to your social impact while meeting other
personal and financial needs. It considers four major structures: one's
checkbook, limited liability companies (LLCs), donor advised funds (DAFs),
and foundations.
16Structures for Philanthropy
chapter abstract
This chapter examines the considerations that would guide a philanthropist
in deciding whether to preserve his or her philanthropic assets for the
future or spend them sooner. These include the needs of the present versus
those of the future, the growth rate of one's financial assets versus the
escalation of the problem one seeks to address, and how much trust one has
in future generations
Afterword: The Responsibilities of Strategic Philanthropy
chapter abstract
A brief afterword argues that the extraordinary freedom enjoyed by
philanthropists comes with certain responsibilities. Without shying away
from seeking major social change, philanthropists should undertake their
work with appreciation of its empirical uncertainties and complexities,
with mindfulness of the potential for collateral damage, and with respect
for those on the other side of the issue.
17Principal and Principle: Foundation Spending Policies
chapter abstract
This chapter examines the considerations that would guide a philanthropist
in deciding whether to preserve his or her philanthropic assets for the
future or spend them sooner. These include the needs of the present versus
those of the future, the growth rate of one's financial assets versus the
escalation of the problem one seeks to address, and how much trust one has
in future generations