Cultivating the Philanthropic Wealthy

In my career, I have spoken to a number of individuals blessed with tremendous financial resources. I have met most of these individuals because of their philanthropy. I love hearing about their passions and views about charitable organizations. 

Recently, I was speaking to the CEO of a Fortune 500 company. As we spent a few minutes together, I listened for his philanthropic passions. Later as I reflected on the conversation, I noted patterns I have heard in other conversations. While not exhaustive and not universal, here are a few ideas for those of us who have the opportunity to cultivate the spirit of philanthropy among those with tremendous capacity.

1. The philanthropic wealthy want to do great things

The philanthropic wealthy want to do great things.They know they have resources that can create high impact and they feel compelled to invest. I think this explains why they often congregate around organizations solving the world's most significant issues. If those of us who work for a charitable organization, no matter how small or large, will provide our philanthropic wealthy with significant challenging opportunities, they will find a way to fund them in equally significant ways.

2. The philanthropic wealthy want to do more than give money

The philanthropic wealthy want to do more than give money. They want to invest their ideas in substantial impact. They want to influence the solutions to the big problems they want to solve. While they don't need to be the expert, they want to influence the process. They are more than an ATM. If you can find ways for them to have an impact beyond their giving, their giving will increase.

3. The philanthropic wealthy give to experience joy

The philanthropic wealthy give to experience joy. They often mention that their philanthropy produces joy for them and their family. This joy, more often than not, seems to spring from an inner source rather than as a result of mere public recognition. It also seems that the larger the commitment, the more joy they feel. There is something intrinsically rewarding about funding solutions to big problems, especially when the gift was a stretch gift for the donor. If you listen, you will hear their satisfaction and sense their feeling of accomplishment. Don't be afraid to ask at or even above what you believe is their financial capacity. 

How to offend the philanthropic wealthy

The fastest way to kill joy or offend the philanthropic wealthy is to ignore the first three ideas. No matter your size, be brave and bold about your mission. No matter how many cooks you have, make room for the philanthropic wealthy within your kitchen. Finally, steward their gifts well. While many philanthropic wealthy may not need much public recognition (though some do), help them feel joy by your genuine appreciation, and through the opportunities, you create for them to experience their impact.

I hope I will yet have many more conversations with the world's philanthropists. I consider it a privilege. With the continued rapid growth of wealth globally and the increasing number of organizations engaged in multi-billion dollar campaigns, I trust I will continue to have opportunities for conversations. 

What would you add to the list? I'd love to hear your thoughts.

P.S. - Faith-Based Philanthropic Wealthy

Within some faith-based nonprofits, I have heard another common feeling from their large donors. It goes something like this - when the donor gives, they feel they are often 'blessed' with even more resources and they note that it is hard for them to out-give the rewards they receive (spiritual feelings and additional financial resources). I'd love to know if others hear the same thing.