![]() ![]() And the book’s afterword wisely reminds donors of their responsibilities to the larger field of philanthropy and its infrastructure organizations. Chapter 2, “Choices in Philanthropic Goals, Strategies, and Styles,” for instance, serves as a primer on the roles donors can play, ways to consider the donor’s resources in relation to needs, and the effort required to achieve change. ![]() They foster an appreciation of the many ways to engage in philanthropy, something too few authors in this space do well. They also do more than offer advice on skillful grantmaking. And they infuse their instructive text with non-polemic presentations of critical decisions such as choosing whether to spend out a foundation’s assets or manage them in perpetuity, as well as warnings about false dichotomies such as charity vs. They urge donors to aim high: “Developing alternative solutions requires creativity or innovation akin to that of a scientist or engineer-creativity that is goal-oriented, that aims to come up with pragmatic solutions to a problem.” They advise about careful selection of grantees and accountability arrangements, distillation and communication of lessons learned, and the right types of grants and institutional arrangements. They walk the reader through the importance of donors having clear problem-solving goals, sound strategy, and clarity about risk tolerance. Their new book, Money Well Spent, is an outstanding example of the strategic giving genre. Paul Brest and Hal Harvey are two seasoned and wise leaders in the field of philanthropic effectiveness-Brest is president of the William and Flora Hewlett Foundation and Harvey is a former director of its Environment Program. Indeed, donors can now find not only books on this subject, but also multiple courses, conferences, consultants, and online guides. These advisors believe that too few donors, new and old, carefully analyze the best use of their funds, and that as a result, they accomplish less than they might through a more strategic approach to giving. The media have dedicated more and more space to these philanthropists, and experts have poured out advice about the value of “strategic” giving. Over the last few decades, American foundations have proliferated at a striking rate, and among their creators are a good many super-wealthy donors. Money Well Spent: A Strategic Plan for Smart Philanthropy
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