By Wendy J. Wolf, M.D., M.P.H.
As a physician, I am highly trained in all aspects of medicine--making accurate diagnoses, learning which drugs to prescribe, mastering complicated procedures. But who among us ever received formal training in philanthropy
When I became president and CEO of the Maine Health Access Foundation, I started reading, learning, and listening to prepare for this new role. And I dug deep down to my roots to explore how I learned about giving.
Dr. Wendy J. Wolf at MaineCF's Inspiring Philanthropy evening.
Photo Carl Little
Comedian Jerry Lewis guided my first steps on this journey into philanthropy. His annual telethon to raise money for muscular dystrophy was so important to me that from the time I was six until I reached 12, I put together my own neighborhood carnival every year to raise money for muscular dystrophy. Why? Because children needed my help! Jerry taught me about charity and the value of giving to others.
A more contemporaneous mentor is Oprah Winfrey. In her role as philanthropist, Oprah said, “What material success does is provide you with the ability to concentrate on other things that really matter. And that is being able to make a difference, not only in your own life, but in other people’s lives.”
Oprah knows that smart philanthropy is all about relationships. Good ideas abound, but it’s execution that brings them to life. Oprah reminds us that it’s our relationships with our nonprofit partners that are a key to success, since they’re the ones doing the work.
Stock market guru Warren Buffett has also been an inspiration. In 2006, Buffett made history by becoming the most generous philanthropist of all time. However, unlike most wealthy people who consider assuming a new late-life career as a philanthropist, he took a different tack. Buffett gave the bulk of his $44 billion to the Bill and Melinda Gates Foundation.
When asked why, Buffett said, “What can be more logical in whatever you want done than finding someone better equipped than you to do it? Who wouldn’t select Tiger Woods to take his place at a high-stakes golf game? That’s how I feel about this decision about my money.”
Buffett’s career and his decision to collaborate with the right partner illustrate several critical features of strategic philanthropy: always do your homework; know what you do well and what you don’t do well; and pick the best partners to get the most from your money.
From these mentors, I’ve learned that good philanthropy rests on “wise distribution.” It means looking beyond the needs of today to solving problems for the long haul. It’s moving from help to hope.
Dr. Wolf is president and CEO of the Maine Health Access Foundation and a Maine Community Foundation board director. This text is an abbreviated version of a talk she gave at MaineCF’s Inspiring Philanthropy program in Bangor on May 14, 2009.