A Revolution of Capital
Clara Miller, President Emerita of the Heron Foundation, defines a trajectory of development for a more collaborative and results-oriented institutional philanthropy
22 June 2018
Institutional philanthropy, whose self-appointed roles include providing risk capital for society, leading transformational change and addressing society’s greatest challenges, has not kept up and adjusted to the times. If we want philanthropy to stay relevant in today’s 21st century world let alone rise to the level of its soaring rhetoric, we must revolutionise our 19th century business model, operating precepts and conceptual frameworks to be fit for purpose. For owners and investors of significant stores of capital, the changes needed will involve a revolution of capital.
What will it take to change?