Insights
Four Golden Rules for Charity Donors
Nuggets from our Philanthropy Conference
Kate Boswell, Partner, Family Office, interviewed, Mary Rose Gunn and Bianca Tavella for Stonehage Fleming’s first Philanthropy Conference held in our London offices in October.
Here, we round up their golden rules for those starting their philanthropic journey as donors.
1) Work out what you really care about
A great way of working out what sort of cause you want to support as a donor is to identify something that moves you, according to Mary Rose Gunn, Founder of The Fore, the UK's only venture philanthropy fund turbo-charging the best small charities and social enterprises. “Think of times when you feel something and lean into it, so it doesn’t influence your life in a negative way,” she told guests at the inaugural Stonehage Fleming Philanthropy Conference. “Say there’s something you see in society that really upsets you, like the homelessness that you observe on your way to work, for instance. You have a visceral reaction. Notice it. Is it something you’d like to try and do something about?”
2) Do your research
So, you’ve identified something you care about. How do you find a charity partner?
Doing your research is critical, according to Bianca Tavella, Founder and Chief Executive at Fair Shot Café. An organisation which, every year, offers 15 young adults with a learning disability and/or autism the chance to gain real-life work experience through their Supported Internship programme.
“There is an incredible amount of inspiring information and research available about the challenges charities are working to solve and the unique solutions they bring. But donors don’t need to become experts themselves. What matters most is showing the charity that you’re genuinely interested in learning more More often than not, CEOs and founders are passionate and delighted to share their insights, explain the problem in depth, and talk about why their approach is so unique. By asking thoughtful questions and engaging with their mission, you create a more meaningful and energising conversation. It sets the foundation for a strong partnership where both sides feel informed, valued and inspired.”
3) Be Respectful
Respect is important in two main ways, according to Bianca. “On the one hand, it's respect for the cause, and then on the other hand, it's respect for the people and the time and, because more often than not, you're either investing in the founder or the senior leadership team as much as you are the cause.”
Respect the fact that people’s time is valuable when they are running a charity, adds Mary Rose. “If someone gives you an hour to have a chat, ultimately you may decide you don’t want to support their charity, but why not give them a donation for the time they have given up? An hour with you is an hour away from their day job so leave them with the feeling their time and effort is worth something.”
4) Listen to your Risk-o-meter
There are two types of risk, according to Mary Rose: on one end of the scale there is uncomfortable risk and on the other, exciting risk. “As a donor, exciting risk is the risk you want. It’s the feeling you get when you have built a trusting relationship with the leadership of an organisation, and you both want to trying something different or new. It might work; it might not. But you both want to try it as much as each other because you can see the potential. If it doesn't work, there will be much to learn from it.”
By contrast, uncomfortable risk, is a red flag. That discomfort you feel, says Mary Rose, comes from a lack of trust. “Listen to your intuition. If you don't trust the leadership of an organisation, you shouldn't be investing.”