Myth Buster: Redefining Philanthropy

Kris Putnam-Walkerly, philanthropic advisor and author of Delusional altruism: Why Philanthropists Fail To achieve Change and What They Can Do To Transform giving, lays out five myths surrounding philanthropy and explains why buying into them thwarts the impact of giving.

- Kris Putnam-Walkerly

Philanthropic giving is an endeavour filled with best intentions. But it is also fraught with misconceptions around everything from mission to money, from timing to operational costs. Ascribing to the delusions of giving can shortcircuit the full potential of your philanthropy and diminish the impact of your efforts to make change in the world.

There has never been a time when we need more clarity of purpose than now. But as a global philanthropy advisor, I often see the same critical mistakes made in terms of approach and impact. So here are five common myths about philanthropy that tend to take our giving efforts in the wrong direction—and five actions to overcover them and transform your giving.

MYTH 1: All philanthropists are billionaires

It is a common trap to imagine that only those with lots of resources can make change. The truth is: Anyone who donates time, money, experience, skills, or talent to promote human welfare participates in philanthropy. But it is human nature to jump to the tactical. We defeat ourselves before we even get started by focusing on how much we can or cannot give.

In reality, cash does not solve problems. People do. Given all the power dynamics that come with wealth, it is not even desirable to lead with money. So, I recommend a different mental framework that puts tactical thinking where it belongs by starting with the right questions.