🔒Philanthropy: The values exchange that builds community

It's that time of year again … tax season. And in preparation, you gather the documentation of your charitable contributions.

As you review these materials, have you ever paused to consider what difference your gifts make in the community? Do you realize that you can legitimately call yourself a philanthropist?

There are thousands of nonprofit organizations in Connecticut. Their scope of work is enormous: They combat social and economic disparities, protect the environment, defend the vulnerable and enrich the quality of life for all of us. Without a doubt, our communities would be unidentifiable economically and socially without their meaningful, transformative and mission-based work. A culture of philanthropy is essential to the survival of nonprofits and the work that they do. The philanthropic support of individuals and corporate contributions are their lifeblood.

By definition, “philanthropy” means “love of humanity.” Being a philanthropist means that you are an investor in community and in humankind. As a philanthropist, you're not buying a packet of gum; you are investing in the betterment of humankind.

As a donor, you are making financial investments in organizations and in your community. In exchange, the nonprofits you support provide you with the vehicle to have great effect.

This symbiosis is key.

The impact of your philanthropic support compounds your legacy in the community in a way your individual bandwidth of influence could never match. It is only through your support that these organizations can realize the full richness of their work. Nonprofits offer individuals and corporations an invitation to create legacy by becoming partners in their work for “good.” This is an exchange far more refreshing than peppermint.

So, the question for philanthropists and philanthropists-to-be is: With a cornucopia of meaningful nonprofits in the state, where do you donate? Bill Gates, one of the world's most famous philanthropists, takes this decision seriously: “Giving money effectively is almost as hard as earning it in the first place,” he said.

So, let's take it one step at a time.

Define your values

Donating to an organization is not just a contribution of financial resources but an exchange of values. Challenge yourself to identify organizations that match your own values. Do you value leadership? Economic security? Access to opportunity? Identify the mission that really connects with your own or your company's core values and goals in the community.

Do your research and ask questions

Seek out organizations with a demonstrated history of impact and verified financial prudence. Just as you would with your other investments, ask targeted questions: Where is this donation going? Why is it needed?

Identify the nonprofits that are uncompromisingly dedicated to their mission, the work of their industry, and can respond to your questions. Your support is powerful, needed and (should be) valued. Only the organizations that can fully articulate why your support is necessary and how it makes a true impact should be in the running for your financial support.

Be valued for your valued investment

Do the nonprofits you support appreciate your contribution? Do you trust that your donations are making a difference? As a donor, you become an ambassador and advocate for the work of the nonprofits you invest in, and you have a right to expect that this relationship is a mutually meaningful one. Those of us in the business of philanthropy know that there is no silver bullet or magic potion for getting people to donate.

There are no shortcuts to creating a sustainable giving program; it requires continued dedication (even fanatical devotion) to best-practice stewardship.

Great nonprofits develop people, relationships, community and investors. Great nonprofits draw in people who will, year after year, recommit themselves to their mission, re-invest in their work, and introduce new stakeholders to their programs.

Pursue organizations that share your values, manage their resources effectively and excel at stewardship, and you will not be disappointed in your decision to contribute.

Kara Fenn is vice president for development and marketing at Leadership Greater Hartford.