The concept of generating positive benefits beyond just financial returns is particularly attractive to grantmaking foundations that steward endowments. But the president of Max Bell Foundation argues that a number of concerns about “responsible investing” make it premature to advocate that government should push charitable endowments in that direction.
Investments should not just be viewed as a means to create income to fund grants: there is extraordinary opportunity to make a difference with the bulk of the money being managed, and the government needs to start paying more attention, suggest Aatif Baskanderi, president and CEO of the Northpine Foundation, and Senator Ratna Omidvar.
The story of philanthropy is not static; it evolves with every new challenge faced. Recently, the calls for reform have been loud and clear – to unlock the billions locked up in endowments, remove “direction and control,” and shift to more reciprocal relationships.
Volunteering is an amazing thing, but it remains an area of unharnessed potential, replete with missed opportunities to build connections across social groups.
A year ago, Century Initiative – whose mission is to enhance Canada’s resilience and influence by responsibly growing the population to 100 million by 2100 – launched a National Scorecard on Canada’s Growth and Prosperity. This year’s scorecard points to three key opportunities where leadership from the charitable sector will be critical.
In the wake of the national day of remembrance for the victims of the Quebec mosque shooting on January 29, Capacity Canada’s Cathy Brothers and MAC’s Memona Hossain offer six practical steps leaders can take to close the charitable sector’s diversity gap.
Martha Rans, a lawyer who specializes in the legal needs of non-profits and charities, objects to the word “lobbying” to describe the sector’s advocacy. “We are not advocating for our own bottom line,” she says. “We are advocating for the public benefit.”
On GivingTuesday, Ruth MacKenzie, CEO of the Canadian Association of Gift Planners, calls on the charitable sector to collaborate and celebrate the different elements of social good – fundraising, philanthropy, and generosity – to build back better.
