Advancing an Organization Serving
the Ultra-Wealthy

Introduction

I am thrilled to share why this grant was so gratifying. I’ve been on a ten-year quest to maximize the impact of my time and philanthropic efforts. The most potent formula I’ve discovered is simple: quantity x quality = impact. This translates into the more my grants lead to getting ultra-wealthy individuals go give away more money effectively, the greater the results.

The ‘quality’ aspect is a critical contingent. Many of our wealthiest donate primarily to universities, museums, opera houses, and similar institutions. While these donations add value, they often don’t address urgent issues such as global warming, promoting diversity and inclusion, protecting democracy, and alleviating childhood hunger.

The ‘quality’ component of the equation includes giving effectively, equitably, and ethically. Although well-intentioned, some philanthropic acts inadvertently perpetuate harmful systems such as oppression and philanthropic colonialism. Conversely, under the right circumstances, strategic, evidence-based giving with a lens on ethics and equity can create tremendously impactful results.

Story

Years ago I contacted a philanthropy support organization (PSO) serving the ultra-wealthy members. For reasons discussed here, most PSOs, even those most endowed, are underfunded. They do not have the capacity-building funds needed to achieve extraordinary, far-reaching results. I was convinced that with capacity support, this organization could reach many more ultra-wealthy people sitting on the sidelines.

My fund provided $100,000 to hire staff. About eight months later I learned that this organization used thee additional human resources my funds grant went toward creating more than  ten revenue generating programs, bringing in over $400,000. Today, it is $1.4 million.

These programs onboarded new members and provided valuable peer-to-peer learning experiences for members. This type of learning is critically valuable because it creates an environment where people reflect together on and learn about topics including power dynamics, equity and inclusion, and how to give more effectively.

I understand there is much controversy about privilege and whether the wealthy should play such a major role in philanthropy. I point out that
Giridharadas, Author of Winner Takes All…, acknowledges that philanthropy can be part of the solution if done thoughtfully and with a keen awareness of its potential pitfalls.1 With an acknowledgment of these pitfalls, I remain gratified about participating in increasing the quantity and quality of giving within a population that, if done well, can make an immense contribution to social progress.

1 My assertion on Giridharadas came from information provided by GPT-4