Venture Philanthropy: An approach supported by collaboration
posted by: Lyndsey Chauhan
We shared in a previous post that venture philanthropy is a model that strengthens not-for-profit organizations by investing a combination of skills, expertise and resources. Venture philanthropy organizations engage great partners in effective collaborations to create a valuable network of support for not-for-profit organizations.
While venture philanthropy organizations have in-house experts on various subjects, it can be difficult to have all the skills and knowledge needed to meet the specific needs of the not-for-profit organizations they support. Additional expertise comes from external partners who provide their time and knowledge. These partners augment the skills of the venture philanthropy organization and can include management consulting, marketing and communications, technology, legal, research, and project management.
An integral component of our LIFT venture philanthropy approach is our partner network and we are proud to welcome a number of partners. Their commitment will help us better support our partner not-for-profit organizations and, ultimately, increase the health and productivity of Canadians.
It is through this collaborative venture philanthropy approach that not-for-profit organizations can receive the greatest benefit — the resources and skills they need most to build capacity and increase effectiveness so their program can maximize its impact.