Philanthropists Who Want to Make Real Change Need a Solid Plan

NEW BOOKS

Money Well Spent: A Strategic Plan for Smart Philanthropy
by Paul Brest and Hal Harvey

Written for the philanthropist who wants to effect lasting change with his or her dollars, this book outlines how donors can best give money and evaluate whether it made a difference.

The authors — Paul Brest, president of the William and Flora Hewlett Foundation, and Hal Harvey, president of the ClimateWorks Foundation — organized the book into three sections.

The first and longest, “The Framework of Strategic Philanthropy,” describes the many plans a donor must make to undertake a strategic approach to giving.

Mr. Brest and Mr. Harvey say donors must first decide which few issues are of greatest importance to them, and determine how great the problems are.

Next, the authors write, donors should consider possible solutions, thinking creatively, since “philanthropists and the organizations they support are no exceptions to the universal tendency to use a set of stock approaches to one’s work rather than being open to an array of possible solutions.”

The authors also advise potential donors to think about the ways that their strategies may be harmful, and gives detailed advice on how to measure the impact of giving.

Part II, “Tools of the Trade,” talks about the types of groups to which philanthropists might give to create change. This section also includes a chapter on how nonprofit groups can influence policy makers and businesses.

Part III, “Organizing Your Resources for Strategic Philanthropy,” delves into the nitty gritty of making a gift, whether by simply writing a check, going through a foundation, or creating a donor-advised fund, among other approaches. The section discusses foundations’ giving policies, including how to decide how much to give away now and how much to save for future grants.

Publisher: Bloomberg Press, 731 Lexington Avenue, New York, N.Y. 10022; (212) 617-7966; bloombergbooks@ordering.com; http://www.bloomberg.com/books; 304 pages; $27.95; ISBN 978-1-57660-312-3.