Not all that much good comes with getting older, but one exception is time spent with the best teacher of all: experience. After 27 years in foundation philanthropy, I’ve been blessed with the opportunity to learn firsthand some important lessons, and today I share a key one: Publishing your guidelines, and generally being transparent about... Read More
It is a risky proposition to take issue with any advice offered by Warren Buffett. Recently Marc Gunther, a notable philanthropy and sustainability reporter, wrote an article entitled Warren Buffett Has Some Excellent Advice For Foundations That They Probably Won’t Take. In the article, Mr. Gunther quotes part of the renowned investor’s annual letter: “When... Read More
Imagine you are running your first marathon. Coming up on the final mile, your energy is flagging, but you know you can make it. Then, all of a sudden, you see a sign that reads “Finish line 4 miles ahead.” Whether you could physically make it or not is beside the point now. Your mental... Read More
Several months ago, Exponent Philanthropy and partners Mission Investors Exchange and Arabella Advisors released Essentials of Impact Investing: A Guide for Small-Staffed Foundations. Below is an excerpt from the complimentary and actionable guide, geared to foundations with few or no staff that want to align their investments and missions. By David Wood, Initiative for Responsible Investment The early stages... Read More
I went on “sabbatical”! I was still working every day, but my wonderful board gave me “mission time.” Yes, you heard correctly. I was given 3 months to think about our foundation’s mission, its work, and our processes. What exactly does this mean? Well, to start, we temporarily closed our online portal and skipped a... Read More
The Lerner Foundation had only been making grants for five years when the winds shifted—the board of directors decided it was time for a profound change in our priorities. Our founding purpose is simple and straightforward: “to further opportunity for the people of Maine.” Manny and Polly Lerner’s broad and hopeful intention gave us the... Read More