We can accomplish more when we work together than when we go it alone. This is one theme of a new report from the Milken Institute on How Institutional and Corporate Philanthropy Can Do More Together. Corporate philanthropy uses business resources for public benefit, including money, products, employee time and knowledge. Institutional philanthropy is charitable giving from large independent foundations. While they may share values and priorities, these two distinct types of philanthropy often take different approaches and have different strengths. Partnerships between them can often result in stronger results.
The report identifies a spectrum of collaboration, ranging from knowledge sharing to deep partnership and pooled funding. It shares a framework and explores different case studies, including a MacArthur partnership with the Wachovia Foundation and the Opportunity Finance Network. “The report demonstrates the value of fostering cross-sector partnerships,” writes MacArthur Foundation President John Palfrey in the foreword. “If it is worth doing alone, we should strive to do it together: with the people most impacted, people who bring fresh perspectives, and people who have resources to sustain the efforts.”
