Crises bring massive social, health and economic uncertainties, challenges and hardships. They also unleash unprecedented philanthropic leadership and opportunities for transformational social change. But being an effective philanthropist requires letting go of what I call “delusional altruism”—modes of thinking and behavior that get in the way of achieving goals. During times of uncertainty, these pitfalls can turn into defaults.
Here are six common mistakes wealthy donors often make during a crisis, be it a pandemic or another kind of disaster, and what to do instead.
Mistake #1: Stepping Back
During a crisis, we may want to hunker down and hold back. As a donor, you have resources; any action—especially during a crisis—risks exposure to requests and scrutiny. But letting fear and isolation take over cuts you off from the knowledge, connections and relationships you need to be an effective leader and make a difference.
Instead, Engage
Reach out. Call the nonprofit leaders you support and find out their concerns and needs.
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