Embracing Trust-Based Philanthropy: A Forward-Thinking Approach
Embracing Trust-Based Philanthropy: A Forward-Thinking Approach
Philanthropy has a power problem. Too often, traditional funding models create barriers that hinder nonprofits from effectively carrying out their missions. At Bright Promises Foundation, we recognize the need for a transformative approach to philanthropy—one that fosters genuine partnerships and empowers nonprofits to thrive. This is where Trust-Based Philanthropy comes into play.
What is Trust-Based Philanthropy?
Trust-Based Philanthropy reimagines the dynamic between funders and grantees. It is built on the belief that our work will be more successful and rewarding if we approach grantee relationships as ongoing partnerships rather than one-time transactions. This approach encourages a learning stance over a proving stance when it comes to understanding social impact. It relies on a collaborative viewpoint that recognizes that all entities in a philanthropic ecosystem must work together and learn from each other to make meaningful changes.
Key Principles of Trust-Based Philanthropy:
- Provide Multi-Year, Unrestricted Funding: Commit to long-term, flexible funding that allows nonprofits to adapt and grow.
- Do the Homework: Funders proactively research and understand prospective grantees, reducing pre-proposal requirements.
- Simplify & Streamline Paperwork: Minimize administrative burdens to free up nonprofit staff to focus on their mission.
- Be Transparent & Responsive: Maintain open, honest communication to minimize power imbalances and foster trust.
- Solicit & Act on Feedback: Use grantee feedback to inform decisions and improve practices.
- Offer Support Beyond the Check: Provide non-monetary support to bolster leadership and organizational capacity.
Bright Promises Foundation's Commitment to Trust-Based Philanthropy
At Bright Promises Foundation, we are updating our practices to align with the principles of Trust-Based Philanthropy. Our commitment to this forward-thinking approach is reflected in our organizational culture, practices, structures, and leadership. Here’s how we are making this shift:
- Multi-Year Funding without Restrictions: We provide multi-year funding to our grantees, and we do not restrict how much of our funding can support programs versus overhead. This ensures that nonprofits have the flexibility to allocate resources where they are needed most, fostering healthier and more adaptive organizations.
- Proactive Research and Engagement We are taking the initiative to understand our grantees through thorough research and recommendations. By reducing pre-proposal requirements, we aim to make the grant application process more accessible and equitable.
- Streamlined Processes Our approach simplifies and streamlines paperwork, allowing nonprofit staff to concentrate on their mission rather than administrative tasks. We use a conversational approach to learn about grantees’ work, fostering deeper connections and understanding.
- Transparent Communication We prioritize open and honest communication with our grantees. By being clear about our funding priorities and responsive to inquiries, we build trust and move the work forward effectively.
- Feedback-Driven Improvements We actively solicit feedback from our grantees to inform our support and services. This feedback helps us make informed decisions and continuously improve our practices.
- Comprehensive Support Beyond financial contributions, we offer non-monetary support to our grantees. This includes introducing them to other funders, highlighting their work in our communications, and providing spaces for reflection and learning.
A Forward-Thinking Approach
Bright Promises Foundation’s adoption of Trust-Based Philanthropy is a testament to our commitment to equity, humility, transparency, curiosity, and collaboration. By building authentic relationships with our grantee partners, we gain deeper insights into the challenges they face and the strategies that contribute to their success. This forward-thinking approach not only alleviates power imbalances but also fosters a more effective and rewarding philanthropic ecosystem.
Check out this video to learn more:
Join Us in Making a Difference
We invite you to join us in embracing Trust-Based Philanthropy. Together, we can create a more equitable and impactful philanthropic landscape that empowers nonprofits to achieve their full potential.
For more information on Trust-Based Philanthropy and our initiatives, contact us directly. Let’s work together to make meaningful changes and support the well-being of children and youth!
Embracing Trust-Based Philanthropy: A Forward-Thinking Approach
Philanthropy has a power problem. Too often, traditional funding models create barriers that hinder nonprofits from effectively carrying out their missions. At Bright Promises Foundation, we recognize the need for a transformative approach to philanthropy—one that fosters genuine partnerships and empowers nonprofits to thrive. This is where Trust-Based Philanthropy comes into play.
What is Trust-Based Philanthropy?
Trust-Based Philanthropy reimagines the dynamic between funders and grantees. It is built on the belief that our work will be more successful and rewarding if we approach grantee relationships as ongoing partnerships rather than one-time transactions. This approach encourages a learning stance over a proving stance when it comes to understanding social impact. It relies on a collaborative viewpoint that recognizes that all entities in a philanthropic ecosystem must work together and learn from each other to make meaningful changes.
Key Principles of Trust-Based Philanthropy:
- Provide Multi-Year, Unrestricted Funding: Commit to long-term, flexible funding that allows nonprofits to adapt and grow.
- Do the Homework: Funders proactively research and understand prospective grantees, reducing pre-proposal requirements.
- Simplify & Streamline Paperwork: Minimize administrative burdens to free up nonprofit staff to focus on their mission.
- Be Transparent & Responsive: Maintain open, honest communication to minimize power imbalances and foster trust.
- Solicit & Act on Feedback: Use grantee feedback to inform decisions and improve practices.
- Offer Support Beyond the Check: Provide non-monetary support to bolster leadership and organizational capacity.
Bright Promises Foundation's Commitment to Trust-Based Philanthropy
At Bright Promises Foundation, we are updating our practices to align with the principles of Trust-Based Philanthropy. Our commitment to this forward-thinking approach is reflected in our organizational culture, practices, structures, and leadership. Here’s how we are making this shift:
- Multi-Year Funding without Restrictions: We provide multi-year funding to our grantees, and we do not restrict how much of our funding can support programs versus overhead. This ensures that nonprofits have the flexibility to allocate resources where they are needed most, fostering healthier and more adaptive organizations.
- Proactive Research and Engagement We are taking the initiative to understand our grantees through thorough research and recommendations. By reducing pre-proposal requirements, we aim to make the grant application process more accessible and equitable.
- Streamlined Processes Our approach simplifies and streamlines paperwork, allowing nonprofit staff to concentrate on their mission rather than administrative tasks. We use a conversational approach to learn about grantees’ work, fostering deeper connections and understanding.
- Transparent Communication We prioritize open and honest communication with our grantees. By being clear about our funding priorities and responsive to inquiries, we build trust and move the work forward effectively.
- Feedback-Driven Improvements We actively solicit feedback from our grantees to inform our support and services. This feedback helps us make informed decisions and continuously improve our practices.
- Comprehensive Support Beyond financial contributions, we offer non-monetary support to our grantees. This includes introducing them to other funders, highlighting their work in our communications, and providing spaces for reflection and learning.
A Forward-Thinking Approach
Bright Promises Foundation’s adoption of Trust-Based Philanthropy is a testament to our commitment to equity, humility, transparency, curiosity, and collaboration. By building authentic relationships with our grantee partners, we gain deeper insights into the challenges they face and the strategies that contribute to their success. This forward-thinking approach not only alleviates power imbalances but also fosters a more effective and rewarding philanthropic ecosystem.
Check out this video to learn more:
Join Us in Making a Difference
We invite you to join us in embracing Trust-Based Philanthropy. Together, we can create a more equitable and impactful philanthropic landscape that empowers nonprofits to achieve their full potential.
For more information on Trust-Based Philanthropy and our initiatives, contact us directly. Let’s work together to make meaningful changes and support the well-being of children and youth!
