In Episode 2 of the Inspired Money Podcast's live stream series, “The Art of Giving Back,” hosted by Andy Wang and produced by Bradley Jon Eaglefeather, we delve deep into the realm of innovative models for social impact. Our esteemed panel for this segment—Scott Fifer, Professor Richard Marker, and Amar Shah—offers invaluable insights into the future of philanthropy, the role of innovation, and the importance of ground-level experience. Here are the key takeaways from this thought-provoking discussion.
LEp 2 – Segment 2: Inspired Money Live – The Art of Giving Back
The Future of Philanthropy: More Than Just Trends
Scott Fifer opens the segment by emphasizing that the innovative pathways in philanthropy, such as social impact bonds and technology-driven models, are not just trends but the future. These models aim to make philanthropy more inclusive, effective, and aligned with global challenges. Fifer shares an inspiring example of collaborative philanthropy where a fitness company, upon going public, decided to donate a million dollars to a grassroots organization in Chicago, transforming lives in the process.
The Cautionary Tale of Over-Emphasizing Innovation
Professor Richard Marker brings a word of caution to the table. He points out that while innovation is important, it should not overshadow the value of local initiatives and ground-level expertise. Marker argues that the focus on innovation can sometimes lead funders to overlook projects that could succeed with adequate capital. He stresses the importance of “on the ground credibility” in any form of philanthropy or grant-making.
Fintech and Philanthropy: A Symbiotic Relationship
Amar Shah, a fintech founder, agrees with Marker's views on the importance of ground-level experience. He suggests that innovation in philanthropy is more needed on the fundraising side. Shah talks about how technology, like blockchain and NFTs, can help in increasing the overall dollars going to charitable causes. He emphasizes that innovation should be used to meet donors where they are, whether it's through social media fundraisers or cryptocurrency donations.
The Role of Digital Currencies in Philanthropy
The panel also touches upon the increasing role of digital currencies in philanthropy. Shah believes that digital currencies are just another form of currency that people can use to donate, and their rise reflects the changing demographics of donors. He mentions the example of an NFT offset calculator his company released, which allows people to offset the carbon emissions of their transactions using cryptocurrency.
The segment “Innovative Models of Social Impact” from Episode 2 of the Inspired Money Podcast's live stream series, “The Art of Giving Back,” offers a nuanced look at the future of philanthropy. It serves as a reminder that while innovation is crucial, it should be balanced with a deep understanding of ground-level needs and realities. As we navigate the ever-evolving landscape of philanthropy, the insights from Scott Fifer, Professor Richard Marker, and Amar Shah offer a comprehensive guide to making meaningful change. Let their wisdom be your guiding stars as you explore the exciting journey towards a better world through philanthropy.
by Story Alchemist – Stella Knight (Creative Collaborative Media Design by EaglesVision).
Meet Our Esteemed Guest Panelists
Scott A. Fifer
Scott A. Fifer is the founder and CEO of GO Campaign, a nonprofit organization that has helped over 58,000 children across 28 countries. A former New York City attorney and Hollywood screenwriter, Fifer's passion for philanthropy was ignited after watching the movie “Hotel Rwanda,” inspiring him to make a tangible difference in the lives of children around the world.
Professor Richard A. Marker
A distinguished figure in the field of philanthropy, Professor Richard A. Marker has served in various roles, including CEO of a major philanthropic foundation and a university chaplain. Currently, he advises large and small foundations and individual philanthropists through Wise Philanthropy™. His work is characterized by a distinctive approach to funder strategy, specializing in intergenerational issues and ethical considerations.
Amar Shah is the President and Co-Founder of Change, an organization focused on leveraging technology to drive social impact. His work involves overseeing organizational strategy, partnerships, and initiatives aimed at fulfilling Change's mission.
Join us for this enlightening episode as we explore the art of giving back. Whether you're a seasoned philanthropist or just starting your journey, this episode offers valuable insights that can help you make a meaningful impact.
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