Lori G. Rabb has helped the Hartford Foundation for Public Giving weathered the recent economic downturn by focusing on the impact donations can have on the community.
She is a chartered advisor in philanthropy with nearly 25 years of experience in fund raising, the past eight at the Hartford Foundation.
Rabb said the foundation, which is built on bequests, involves donors while they are still living. It helps focus the discussion on charitable goals and what they hope their donations can achieve. “We can really engage with them,” said Rabb who holds the title of vice president for philanthropic services.
The people who support the foundation, Rabb explained, were better able to continue giving during the downturn because they were dealing with assets and not disposable income. “When times are difficult, our donors are very generous. They give in ways that continue to support today and tomorrow,” Robb observed.
Growth at the foundation is coming because of increased interest in nonprofits building endowments, Rabb said. “Organizations are more secure in looking long term. This provides unrestricted support on a long-term basis.”
Rabb observed that organizations and donors are willing to partner with the Hartford foundation “because they can feel comfortable with the stewardship of their dollars.” She added, “The interest has been building.”
These nonprofit funds should not be confused with annual funds, Rabb explained. These new funds provide unrestricted support. “The priorities of organizations change over time,” she said. “It can help during the changes, economic changes. It can provide some long-term security for the organization. It’s a way for donors who care about an organization to provide a different level of support.”
Thomas Lips, managing director for investments at the Lips Rosseau Partners at UBS in Hartford, issued effusive praise for the work Rabb has done. “She has most of the attributes that make for a successful human being,” said Lips, a former president of the Hartford Stage board of directors. Rabb is diplomatic, gets along well with others, and is a “very good soul,” Lips added. “I don’t throw those words out there lightly. She’s a special person. She has a highly professional and political way about her.”
Lips, who has been active at the Hartford Foundation for more than two decades, said, “Lori has been a great steward of the foundation’s cause. She’s totally into what the foundation represents.”
The Hartford Foundation for Public Giving, one of the oldest and largest of the country’s 700 community foundations, has again been certified by a national accreditation organization as meeting the highest standards in philanthropy for operational quality, integrity and accountability. The accreditation comes from the Council on Foundations, a national professional association of more than 1,700 grantmaking foundations and corporations, through its Community Foundations National Standards Board.
The professional rainmaker said what works in Hartford also works across the country. People are giving but with a difference. “What we see locally is indicative of what we see nationally. People want to see the impact of their dollars,” she said.
A key component of Rabb’s success is her “focus” on building relationships. She reaches out regularly to build knowledge of the Hartford Foundation with individuals, businesses, financial advisors and grants agencies.
Rabb oversees a staff of nine people, who work with the various constituencies the foundation serves. “We look long term to provide support today,” she said, clarifying that is accomplished through the foundation’s grant system that supports the community.
The Hartford Foundation also took the step of seeking community input from more than 700 participants on where the foundation should focus its energies and make the most impact. The overwhelming message was money should be channeled to education and workforce development.
“What we heard [was] these are the most pressing areas of need in the community,” she said, “but we are a broad-based grant maker still.”
It’s that resource role that Rabb finds important and that she hopes will be funded by younger generations. “I hope we will expand so we can work with younger generations and families. That’s something that will be important to expand the role and our resources. We’re in a unique position. We have a 360-degree view of the region. We’re able to work with others to come together and be part of solutions providing links to others.”
