Wednesday, March 31, 2010

The Art of Giving It Away

My column in this week's Financial Post looks at how entrepreneurs can plan their philanthropic giving so that their charitable donations will be more strategic, effective and impactful.

This is a subject of tremendous interest to so many entrepreneurs I know who are now struggling with their legacies, and how best to “give back.”

The column’s guest experts are billionaire Charles Bronfman (of Seagram fame) and his philanthropic colleague Jeffrey Solomon, who have just published a book called The Art of Giving: Where the Soul Meets a Business Plan.

They wrote the book to solve a big problem: "Too often philanthropic gifts are made out of social or business obligations, guilt or whim, which takes all the urgency out of them, to say nothing of the fun."

My column explores the three part-part plan at the heart of Bronfman’s strategy.
“Bronfman insists successful philanthropy requires a specific plan (what causes grab you? What do you want to accomplish?), rigorous measurement (how else do you know if your money is making a difference?), and a strategy of leverage (if a cause is worth your money and time, you'll accomplish much more by getting other people involved).

Read the rest of the column here.

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