PHILANTHROPY CAPSTONES: FUTURE TECHNOLOGY
Writing the report for the fifth in the ‘Future Technology Series’ for the London Technology Club (www.londontechnologyclub.com) we looked at one of the most regular capstone projects: Philanthropy.
The full report can be uploaded from the LTC website CLICK HERE.
A recurring theme came through whilst curating the report: the third sector and non-profits run the risk of being left behind, especially by digital technology. Whilst technology is transforming other industries, the sector that would harness it for the most good needs it the most.
Philanthropy is a vast and often highly personal, emotional and complex topic. Even back in ancient Greece, Aristotle said:
“To give away money is an easy matter and in any man’s power. But to decide to whom to give it and how large and when, and for what purpose and how, is neither in every man’s power nor an easy matter.”
The fundamentals of the sector remain. Across the board, philanthropy has an increasing number of opportunities to use technology in new ways.
From a donor’s perspective, individuals and corporations wishing to give strategically increasingly want technology to overcome their lack of knowledge, time and trust. From the fundraiser’s perspective, technology can assist with compelling storytelling, frictionless giving and transparency in impact. And it can provide clear reasons for donors to select, monitor and experience their desire to do good in ongoing ways.
Here is the executive summary of the report, to give you a flavour of what the near future could look like for a philanthropist:
After the success of my B Corp certified company, I set up my own foundation. I was an early believer in the movement to make giving every day not just once a month. Happily, since the conscious consumer started spending only with companies that gave back, we’ve all become accustomed to choosing to be a part of the full circle ‘win-win-win model’ (consumer, company, cause all winning) whenever possible…
I start my day by checking the foundation updates and to-dos on Salesforce foundationConnect and enjoy tracking the unrestricted funding grants being made.
Compared to other businesses I have worked in; I find that embracing new tech in the non-profit sector is much harder. Other industries have been quick to harness technology, but in the world of philanthropy, integration takes a little bit longer. Charitable organisations that are early adopters stand out.
To see what’s happening with my personal donations, I check Alice.si to view the latest smart contracts and blockchain-based reports. It’s a much better donor experience. I also visit my I.G. Lightful Nest platform to see who has responded to my call to action for co-donors for a charity that needs investment in digital infrastructure and skills training for staff. So far, I’ve enlisted the help of 10 portfolio company developers, all of which have committed to a one percent pledge: to give that much from their equity, profit, time or product.
Also on my to-do list for the day: check-in with Epic Foundation to see what new projects have been recommended. The model reminds me of my VC days. Lastly, I look at my company Benevity dashboard to see our corporate grants, what total my company match funding levels have reached and the payroll giving numbers. We much prefer to avoid our staff being ‘voluntold’.
Alexandre Mars of Epic
On my way to lunch, I tap a shop window to contactless give to the homeless and whilst lunching, I check in on the TangoTab app to make sure my meal also provides someone in need with a meal. I’m cool with allowing my data to be monetised for good. I always look to make sure data and AI is used ethically.
My lunch date is running late, so I launch the Elbi app and buy some Beats headphones using the LoveCoins I’ve accrued through my donations. I do some further shopping as nearly every luxury purchase I make is via Livoos to do good for others.
Natalia Vodianova’s Elbi: the first charity to integrate Apple Pay for donations
After lunch, I head to the charity event on my calendar. At the table, we are all given VR headsets to watch immersive content about the cause. The stories inspire, so I take part in an interactive auction that collects my donations and will give a boost to my overall giving status. In the car on the way back, I decide to donate again, this time via a bot on the charity’s Facebook Messenger.
Maybe – somewhere else, sometime today – a young entrepreneur will sign the Founders Pledge, setting a standard for her personal philanthropy, and then Pledge 1% on her company’s behalf. And when she really makes it big – becoming a bona fide billionaire – she’ll sign the Giving Pledge to bring her philanthropic endeavours to even greater heights. Then the hard work in philanthropy really starts!
Technology is the most powerful equaliser of our time, providing access to data, knowledge, and above all, connections. Together, all of those elements bring new levels of power and impact to philanthropy.