I am an insatiably curious person. Many things interest me and it is difficult to focus on just one thing. In fact, I’d like to think of myself as a “systems thinker” and so I’m always exploring all sorts of intriguing things to see how it all connects.

So, when thinking up my first blog for the Trico Charitable Foundation (TCF) I was at a loss for where to begin. How was I going to pick just one topic to focus on? I thought it might make sense to start with why I was drawn to working at TCF – and that is my growing awareness and interest in social enterprise (for TCF’s purposes, we define social enterprise as non-profit organizations running a business). I’ve also been learning a lot about private, charitable foundations. It’s a whole new world for someone who has only worked in the non-profit sector. Perhaps it would be valuable to share some of my new knowledge here?

Then I found myself watching Geoff Mulgan’s TED talk, Post-crash: Investing in a Better World, and I remembered some questions that have been on my mind for some time now. What is the economy for? What is the role of business in contributing to social good? This felt like as good a place to start as any.

I love private foundations.

That’s not a statement that folks usually say on a daily basis, and if they do, they are small in number.  But I really do.  While most of our writing is on social entrepreneurship, I wanted to give a little inside look into the world of private foundations – in three little bites.

How leadership trumps anonymity

The world of private giving and philanthropic foundations tends to be one cloaked in mystery and not widely understood.   For example, over dinner last night I started by explaining my job as working at a “new private foundation,” which then was distilled to “working in philanthropy,” and devolved further to “giving away money”.  “Giving away money” doesn’t do it justice, and worse it doesn’t invite people to participate.  People without money don’t seen an entryway to join and folks with money may put up their ‘don’t ask for my money’ defenses.  I need to find words that create inclusion.

Private giving in philanthropy is powerful especially when seen collectively.   The resources mobilized are large, and the agility and innovation makes it distinct from government and most business. Private giving has a ton of cultural nuances, and giving is different in Canada than in the United States for reasons stemming from governmental to societal traditions.  The private foundation is just one tool of private giving, and they are becoming more widely used by individuals who want to distribute their accumulated assets either while living or as legacy.