Global Leaders for Tomorrow (GLT) — a group of young, proven leaders from business, politics, the arts, and civil society affiliated with the World Economic Forum — has released a report that aims to help donors measure the impact of their philanthropy so that they can allocate their resources more effectively in support of constructive change.
According to GLT, less than 50 percent of all private grantmaking organizations measure the impact of their giving, even though several innovative practices have been designed for that purpose. Produced by GLT's Benchmarking Philanthropy Task Force, Philanthropy Measures Up catalogs and compares twenty of the most innovative measurement initiatives in the field and also presents practical tools to help philanthropists better gauge the performance of their grantmaking. In addition to providing best practices and analyses of various models, the report seeks to advance the field and strengthen the philanthropic bridge between highly respected nongovernmental organizations and the foundations and global businesses that frequently are their benefactors.
"We believe that the vision of developing a more effective, transparent and market-driven system for measuring philanthropy is attainable in the long term, but will come from bottom up experimentation and dialogue with nonprofit practitioners rather than top down dictation," said Liavan Mallin, head of the GLT task force. "We hope this report will assist in the hot debate on the topic of how to measure philanthropy and by highlighting the strides that are being made in this area increase the amount and impact of philanthropy around the world."