“Sometimes we try multiple different things; some work, some don’t. You learn lessons from the things that don’t just as much as you learn from the things that do.”
In our second interview with philanthropy advisor Tom Hall, we share a fundamental element that most wealthy philanthropists are looking for when deciding whether to make a major gift.
Tom is Managing Director, Global Head of Social Impact and Philanthropy at UBS and over the last ten years he has had conversations with more than 4000 High Net Worth Individuals about their philanthropy. Through these conversations and in witnessing many transformational donations Tom has gained valuable insight into how they make decisions.
In this, our second interview, Tom shares the second crucial element that philanthropists especially value in requests for funding from charities. And he shares various tips to help fundraisers improve this element of their proposition.
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Episode overview
High-Value Philanthropy: Key Factors Influencing Major Gifts (00:01:05)
Rob and Tom delve into high-value philanthropy, discussing what motivates wealthy individuals to make substantial donations to charitable causes. They highlight the patterns that influence major donors’ decisions, emphasising the importance of impact and measurement in effective philanthropy.
The Importance of Sustainability and Scalability in Philanthropy (00:02:50)
Sustainability and scalability are crucial in philanthropy. Rob and Tom discuss the concerns wealthy donors have about creating dependency on their funding and the need for sustainable and scalable solutions.
Leveraging Innovation in Philanthropy (00:08:29)
Innovative approaches are crucial for engaging donors. Examples include a hugely successful initiative at Scope, where donors were invited to invest in profit-generating charity shops. This multiplied the impact their donation made, helping more families. They also discuss the significance of theories of change and scale for achieving impactful and scalable philanthropy.
Building Sustainable Partnerships for Greater Impact (00:15:45)
Rob and Tom offer advice on creating sustainability plans and engaging philanthropists in discussions about ambitious sustainability goals. They emphasise the importance of collective impact and partnerships in tackling complex social issues.
Engaging Potential Collaborators for Impactful Interventions (00:19:49)
They discuss the challenges and requirements for initiating conversations with potential collaborators, highlighting the importance of strategic engagement for philanthropic interventions that make a bigger difference.
Learning from Failures in Philanthropy (00:20:18)
The value of learning from unsuccessful attempts in philanthropy is explored, emphasising the lessons that can be gained from these experiences to improve future efforts.
Motivations Behind Philanthropy at Scale (00:21:06)
Rob and Tom explore the motivations driving philanthropists to address issues on a large scale. They discuss the importance of proving impact to attract significant philanthropic investment.
Fostering Differentiation and Curiosity in Philanthropy (00:21:14)
Creating a culture of curiosity and differentiation is crucial. The discussion focuses on answering the question “why us” to enhance impact, sustainability, and collaboration in philanthropic efforts.
Further Resources
Fundraising Bright Spots Episode 156: Philanthropy advisor’s insight on how to attract major donors
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