"…grantees could be starting to look at what’s the likely risk element of funding this organisation, what’s the likely success? And this could be very interesting because it could be perhaps encouraging funders to perhaps go for a slightly more risky, or perceived risky funding because the upside is so good, based on what Artificial Intelligence could be telling them.” – Mark Kemp speaking about the possibility of Artificial Intelligence in grant making
1. Working remotely
When the Covid pandemic first hit many organisations needed to change their processes, and we all had to change our behaviours overnight. The shift in working practices continues and there does not seem to have been an obvious downside for both organisations and individuals. It’s hard to think that we could have shifted so seamlessly or so quickly had we not been living in the technological era that we do. This era is one of possibilities with technology empowering organisations, be it funders or charities, prioritising their ultimate goals and then finding the technology and processes to support it, rather than the other way round.
2. Improving the grant giving process
For organisations seeking out projects to support, such as grant givers, improving the efficiency for making fast and effective decisions is often a priority. Funders are looking to get funds to the work they exist to support as quickly and cost-effectively as possible to answer the urgency of the request they receive.
Charities too are seeking an efficient model, to ensure that a reasonable balance is struck between demonstrating the need and impact to funders while giving sufficient time and space to sometimes very small teams to administer the project.
In both cases, an efficient grant giving process is key in ensuring that the relationships between funder and charity are optimised and delivering the best outcomes for those both exist to support.
3. A consortium approach among funders
During the early days of the pandemic we saw some high profile working together of funders and charities. A sense of working together for the greater good at a time of great need is still relevant today as it was three years ago.
With a seemingly growing demand on the charity sector from those who need it’s support, inflation and a drop in funders, the time for charities and funders to develop more efficient ways of working together in unison to deliver is more important than ever.
Efficient practices, open dialogue between charities and funders, and a recognition among all parties that more can be done to evolve how we work to effect real lasting change is crucial and deserves thought.
This episode of Charity Chat has been brought to you by our platinum sponsor Work for Good. Work for Good believes everyone should be able to turn the work they do into good. Through their fundraising platform, they offer charities a way to engage and work with small businesses, including founders, owners and sole traders who want to make an impact for charities through their sales. To find out more, please visit workforgood.co.uk.
We hope you enjoy this week’s episode.
Related episodes that you may be interested in:
E191 - Equality Matters with Javed Thomas -
E193 - Measuring Impact With Rosie McLeod -
E187 - The Charity Landscape Report With Catherine Mahoney And Alan Lally - Francis -