This text is part of the special Philanthropy section
The world of philanthropy is directly affected by major societal changes. Demographic weight, the economy, technological advances or social and political challenges require philanthropy players to be strategic and innovative to ensure they remain relevant. In this great period of transformation, how should a foundation adapt to all these changes?
After 9 years at the CHU Sainte-Justine Foundation, including the last two years as president, Delphine Brodeur is able to see how the last decade has transformed the world of philanthropy. Unsurprisingly, she recalls that the needs are very great. Costs are exploding not only in research, but everywhere else. In all sectors, science is evolving at breakneck speed: “With everything that is happening, we have to be there. […] Although we do not replace public funds, we complement them, we are the spark plug that allows us to support innovative projects. »
Impact measurement and transparency
“In the context in which we operate, we have seen an awakening regarding the necessary impact of philanthropy in our society. The pool of donors is increasingly younger, and we see them more informed about the real effects they can have,” she continues and recalls that the major players in philanthropy have had to make significant organizational changes to respond to the expectations and demands of these donors.
More than ever, we expect impeccable governance, greater transparency and impact and efficiency measures that demonstrate the progress made by donations. To achieve this, we must now plan investments in evaluation and research so that more precise methods of measuring social impact can be developed.
Choose collaboration
Mme Brodeur also emphasizes that organizations will be increasingly called upon to collaborate and, above all, that they will benefit from doing so. Such synergies between organizations will better equip them to face the complexity of future social challenges.
“We work more with external stakeholders, as is the case with [l’hôpital] Toronto SickKids. If we can increase our impact tenfold, why not do it? Sainte-Justine and SickKids treat 61% of Canadian pediatric patients with tertiary and quaternary needs. If we don’t work together, who will? They become social projects. »
Diversity and representativeness
Jean-Marc Mangin has been President and CEO of Philanthropic Foundations Canada since 2019. Among the transformations underway, Mr. Mangin notes greater diversity in the teams with which his organization collaborates. “This increasingly reflects the diversity of populations. We see it in our meetings, there are more women, there is a renewal among managers and staff. We see new leaders arriving, people who have different experiences and realities, who emerge from community action or health and who understand the challenges of specific communities. »
However, it is impossible to ignore the fatigue on the ground, he continues. “The environment is changing, and there is a lot of pressure on those who do the work in our communities. I am not talking about the foundations themselves, but about civil society partners, key partners who contribute to the social fabric of our communities. » He sees a shortfall in terms of volunteering, but also in attracting and retaining staff, while the needs of the beneficiary populations are increasing rapidly.
Upcoming technological shift
As for technological tools and the arrival of artificial intelligence, Mr. Mangin recognizes that there is a lot of work to be done to remedy the skepticism and lack of knowledge regarding the use that could be made of it in philanthropy. “Profound transformations need to be made, the shift is not yet complete,” he summarizes.
For her part, the CEO of the Sainte-Justine Foundation recalls that the growing dependence on technology raises questions about cybersecurity and the protection of personal information: “Maintaining the bond of trust with donors is a priority for us. » However, with a well-established legislative and ethical framework, new technologies and AI offer great opportunities for advancement, whether in business intelligence, governance or even population data analysis.
Invest, think about tomorrow
From a long-term perspective, some organizations are now using their endowment funds to make responsible investments in their community or others that have a positive, social, economic and ecological return. “Impact investing represents a larger portion of portfolios,” notes the CEO of Philanthropic Foundations Canada. The concept of responsible and longer-term investment is making headway in a diversified and balanced portfolio. [Il s’inscrit] in the management of a foundation’s assets to meet the challenges of tomorrow. »
Philanthropy, whether it is more inclusive, measurable and transparent, plays a major and essential role in society. In the years to come, it is also estimated that the needs will be even greater, a direct consequence of economic, health and climatic challenges which are putting pressure on humanitarian, social and arts needs. If the financial resources available for philanthropy do not grow at the same rate, innovation is one of the solutions that will reduce the gap.
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