Foundations must find a way to create balance during difficult economic times. It is without question that all foundation assets are down significantly since mid 2008. It was an unavoidable consequence of the U.S. economic downturn. Here is the dilemma. Should foundations spend into their corpus to maintain a consistent spending level when they know their assets have dropped by several million dollars? This is where the balance part comes into play.
Foundations have to spend into the corpus at some level but cannot afford to spend too much and, as a result, put the foundation’s long-term viability at risk. If a foundation is going to survive and thrive for decades to come, then it must be realistic and pragmatic about its funding decisions. On the other hand, nonprofit organizations cannot be left “high and dry.” Thus, foundations are finding creative ways to provide some funds─albeit reduced─and also provide other services to enhance the work of nonprofit organizations and their leaders. An example of these supplementary services is the Sisters of Charity Foundation of South Carolina Learning Academy’s leadership tract, offering nonprofit executive directors graduate-level training and credit in effective leadership strategies, and its forthcoming distance learning opportunities throughout the state.
Foundations have to partner too. The Sisters of Charity Foundation collaborates with the South Carolina Department of Social Services, University of South Carolina School of Medicine, Columbia College, Columbia Chamber of Commerce, United Way of the Midlands and the Central Carolina Community Foundation. The two latter partners and the Foundation are working to leverage a Bank of America grant to assist and address issues around the merging of struggling and failing nonprofits.
It is certain that our Foundation’s available grant funds will be less in 2010 than they were in 2009. However, through creativity and balance we plan to accomplish as much or more than ever next year. Through capacity building, listening sessions, knowledge sharing, distance learning opportunities, social media and other communications tools and more workshops for nonprofit staff and volunteers, we will make an impact next year. This is all in addition to the grant funds that we will still distribute. Though, fewer funds will force us to be more focused and have even higher expectations and a higher level of confidence in our potential grantees.
We must continue to be willing to shift out of our own comfort zone and capture opportunities in a new and different way. There is a fine line for foundations between protecting their existence and accomplishing their mission. The Sisters of Charity Foundation of South Carolina and other foundations must be proactive and strike the perfect balance between our missions and long-term survival. We understand the complexities of this situation and that a lot of other people and organizations are effected by our decisions. The Sisters of Charity Foundation will continue to be a foundation of mission and purpose. That is our first and most important priority. Survival is important too, and we are putting the necessary tools in place to insure that a fine balance is reached both for 2010 and long into the future.
Tom Keith is the president of the Sisters of Charity Foundation of South Carolina
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment