7 Types of Successful Philanthropists - Exponent Philanthropy
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7 Types of Successful Philanthropists

Photo by HIVAN ARVIZU @soyhivan on Unsplash

Understanding the type of funder you are, and matching with like-minded nonprofit leaders, is one of the most important building blocks to achieving your funding goals.

As nonprofit development consultants, we create funder profiles to help our clients better understand the various types of philanthropists, and how to best engage them.

What type(s) of philanthropist are you?

Percentages given represent the percentage of the overall funding population that identifies as each type.

Communitarian – doing good makes sense (26%)

  • Believes that doing good in the community makes good business sense
  • What is good for business contributes to their personal success
  • Thinks philanthropy is an exchange; a better way to get things done than through government
  • Has the desire to give rather than feeling like it’s an obligation
  • Tends to believe in the institutions they fund and usually wants to establish a long-term relationship. Likes to be involved and have some control
  • Usually likes recognition and public acknowledgment

Devout – doing good is the will of a higher power (21%)

  • Feels it is some higher power’s will to do good; 96% of their giving centers on religious purposes
  • They usually have faith in the leadership of the institution. Feels it is their moral obligation to give and a higher power’s desire that they help others
  • Giving is an act of stewardship
  • They do not care about recognition

Investor – doing good is good business (15%)

  • Views philanthropy as a business relationship. They are highly motivated to avoid taxes
  • Carefully investigates the organizations they fund; looks for measurable returns
  • Feels no moral imperative; skeptical of altruistic people
  • Not actively involved in the day-to-day operations of the organization. Yet, attention and respect are very important to them
  • You would never assign an investor to interact with a devout or altruist or vice versa

Socialite – doing good is fun (11%)

  • Likes to have fun in their funding work, which is the main reason they get involved. Creative, especially in planning social events
  • Sees philanthropy as a social exchange. Funds organizations that they feel are the right place for them and their family
  • Looks for formal recognition and loves to be honored. They are influenced by the social implication of their work and contributions

Repayer – doing good in return (10%)

  • Does good because the organization has already given them something special. They’ve likely had a life changing experience with the organization
  • Very focused in their giving
  • Effectiveness and service delivery are very important
  • Sometimes have low involvement in the organization
  • Gives on an emotional level; does not look for recognition

Altruist – doing good feels right (9%)

  • Gives because they believe it’s the right thing to do. Genuinely selfless. Almost always focuses on social issues
  • Believes the wealthy have a greater obligation to give. Largely unaffected by others
  • Likes to know the leadership of an organization. Seeks respect rather than recognition

Dynast – doing good is a family tradition (8%)

  • Tends to come from affluent families with a tradition of giving. Often has a family foundation
  • Interestingly, there are usually generational differences in the organizations they support
  • Most selective type of philanthropist; does their homework; focuses on the institution’s core mission and implementation
  • Looks to experts for advice. Works with tax advisors, lawyers and CPAs
  • Believes philanthropy gets things done better than the government
  • Supports non-traditional institutions
  • Wants minimal recognition

Be clear about you and your funding goals

Knowing your philanthropic motivations is an easy first step to immediately improving your funding experience. Whether you’re evaluating a potential grant application or a new connection, or reevaluating your outbound messaging and mission overall, help nonprofit leaders optimize your relationship going forward. You’ll attract more of the right funding opportunities and reduce the wrong ones.


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About the Author

Patrick Sampson is the CEO of Cogeo, a consultancy that provides organizational advice and development services to nonprofits to optimize their efficiency and long-term sustainability.

A special thanks to Russ Alan Prince and Karen Maru File for authoring, “The Seven Faces of Philanthropy: A New Approach to Cultivating Major Donors.” Some content for this article was derived from concepts presented in the book.

Comments

  1. Prakash kr

    Thanks for the informative post.

  2. Nicole Latta

    Thank you for the clarification and guidance. It is helpful for anyone that is looking forward to becoming Philanthropist.

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