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Nonprofits face a unique set of challenges, from fundraising to financial stewardship to fulfilling their mission. At our 14th Institutional Client Symposium earlier this year, speakers offered their take on how nonprofit leaders can meet these obligations while preparing their organizations for the future. Throughout the event, attendees learned about the intention, dedication, and action required to support an organization’s mission.
Panelists discussed how both preparation and flexibility help organizations meet evolving needs and position themselves to make the most of transformational grants. Several sessions focused on the investment climate and how to allocate funds in step with an organization’s mission. Participants also assessed the outlook for talent and technology, and the interplay between both, as artificial intelligence assumes more tasks.
“The key in putting this together is to share insights and hear from subject experts on things that are top of mind and timely right now,” says John Mallory, who opened the Symposium.
“Being at the forefront on topics such as entrepreneurship, fundraising, innovation, and technology is critical to nonprofits as the work you do has a ripple effect in the communities you serve and we live in,” says Amal Alibair.
Preparing for and embracing opportunity
The more preparation you put in, the greater chance you have of maximizing donations. That was the case for Artis Stevens, who says he danced in his kitchen when his organization found out it would receive an unrestricted $122.6 million grant from a prominent donor.
Stevens says he understood the responsibility that came with the generous gift, and he was ready for it. He had spent the prior 18 months preparing his organization for a transformative grant. Under his guidance, it completed a strategic plan to change and expand its model to serve more young people once money became available. When the news arrived, his board set up a foundation to establish an endowment and tapped a long-term investment management partner for counsel.
“We didn’t walk into a gift,” Stevens says. “We were prepared for a gift.”
Dr. Elisha Smith Arrillaga says nearly half of the nonprofits her team surveyed after they received grants reported that fundraising became easier, and the overwhelming majority said the gift strengthened their ability to achieve their mission, innovate and take risks, and serve their intended communities. To that point, Stevens confirmed the reputational boost of the large grant in helping his organization raise more money.
The theme of transformation also surfaced during a session on artificial intelligence (AI) in the classroom, suggesting broader implications for how the technology is deployed.
Laurie Patton says that students at Middlebury College want their work with teachers to focus on deeper inquiry and exploration and have used AI to make that happen. Chatbots help with routine research, which in turn can make every educational interaction on campus more informed and powerful. She has not seen much misuse of AI but has heard student concerns about making sure that basic knowledge skills, such as coding basics or understanding historical context, don’t atrophy.
Both she and George Lee see promise in AI to transform organizations by elevating human contributions, so long as we understand how such tools process information.
“We can make this the most human of all technology revolutions in a way,” Lee says, adding that we need to proceed thoughtfully. “The more we do that’s provided by this machine without explainability, without traceability, without the foundational insights – there’s a peril there.”
Staying invested and strategically allocating a greater portion of the equity portfolio to US stocks
Investing for good
Amal Alibair, head, U.S. Institutional Client Solutions, Goldman Sachs
Dr. Elisha Smith Arrillaga, vice president, Research, The Center for Effective Philanthropy
Chris Blume, chief investment officer, Portfolio Management Group, Goldman Sachs
Arun Gupta, chief executive officer, NobleReach Foundation
George Lee, co-head, Office of Applied Innovation, Goldman Sachs
John Mallory, co-head, Global Private Wealth Management, Goldman Sachs
Sharmin Mossavar-Rahmani, head & chief investment officer, Investment Strategy Group (ISG), Goldman Sachs
Laurie Patton, president, Middlebury College
Greg Shell, head, Inclusive Growth Strategy, Goldman Sachs
Artis Stevens, president & CEO, Big Brothers Big Sisters of America
Looking Ahead
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