In India, the culture of giving is deeply ingrained into our social fabric. But what if philanthropy isn’t just about giving but about receiving as well? The landscape of philanthropy is witnessing a dynamic shift with High Net-worth Individuals (HNIs) increasingly looking beyond just writing cheques. While writing a cheque can be a commendable act, true philanthropy lies in Engaged Giving. This approach goes beyond monetary contributions and involves actively participating in the causes you support. It is about building connections, sharing your skills, and becoming an invested partner in positive change.
Volunteering can be one such example. From my own experiences, I can vouch that the impact of such efforts isn’t just one-sided. Working directly with these social leaders and witnessing their enthusiasm and determination first-hand has re-energized me, reminding me of the power of perseverance. This experience, I believe, has also played a pivotal role in shaping my leadership style and instilled a deeper sense of purpose in my work.
Another peer philanthropist and successful investor, Rakesh Damani, decided to mentor Aftertaste, a Mumbai-based NGO working on women’s empowerment. By leveraging his business acumen, he helped the NGO scale its skilling program to train homemakers as employable, skilled artists and artisans. By streamlining their operations and identifying funding opportunities, he empowered them to reach a wider pool of beneficiaries. These are just some examples of how engaged philanthropy creates a win-win situation for both the individual and the NGO.
Philanthropy isn’t just about giving back, but it’s also about learning and growing. By working directly with these changemakers, the donors gain exposure to new perspectives and challenges. Several HNIs in India these days are leveraging their expertise to help grassroot NGOs build robust fundraising strategies. This not only helps secure critical funds but also equips NGOs with the skills to become financially sustainable in the long run.
From an NGO’s perspective, engaged philanthropists are more like their strategic partners. Here’s why:
1. Sustainability and Innovation: Active philanthropists bring a long-term perspective to the table. They understand that sustainable change requires more than one-off interventions. Their guidance helps NGOs develop long-term plans and build the capacity to become self-sufficient.
2. Bridging the Gap: Many HNIs possess valuable networks and connections. Engaged philanthropy allows them to leverage these networks to open doors for NGOs. This may involve connecting them with potential donors, forging partnerships with corporates or advocating for policy changes.
3. Amplifying Impact: Engaged philanthropists become passionate advocates for the causes they support. They use their influence to raise awareness, inspire others to contribute, and hold organizations accountable for their efforts. This creates a ripple effect, multiplying the impact of the NGO’s work.
According to the India Philanthropy Report 2024, co-created by Dasra and Bain & Company, private philanthropy grew 10% in FY 2023, to Rs 1.2 lakh crore ($15 billion). It is expected to continue to expand at 10% – 15% annually over the next five years, driven by strong development in CSR, family & retail philanthropy. This marks a significant acceleration from the 5% annual growth observed between 2018 and 2023. This shift is driven by a desire for greater transparency, accountability and impact.
From my experience, the impact of engaged philanthropy cannot be overstated. Financial contributions are essential, but they are often just the beginning. When we, as philanthropists, immerse ourselves in the causes we care about, we not only amplify our impact but also undergo a personal transformation. The relationships we build, the stories we hear, and the lives we touch become integral to our own life stories.
Govind Iyer, Founding Board Member and All India Chairperson of Social Venture Partners in India (SVP India)
Philanthropy, when done right, is a transformative journey – for both the giver and the receiver. Engaged philanthropy offers unexpected and deeply fulfilling rewards. For Indian HNIs, the act of giving back through volunteering, mentorship and direct involvement can lead to personal growth, a renewed sense of purpose and emotional satisfaction. At the same time, NGOs benefit from the expertise, credibility and strategic support that engaged philanthropists provide. By embracing this approach, we not only transform the lives of those we aim to help but also embark on a transformative journey ourselves. Thus, in giving back, we often find that we receive much more in return.
Authored by Govind Iyer, Founding Board Member and All India Chairperson of Social Venture Partners in India (SVP India)
Disclaimer – The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content.
Volunteering can be one such example. From my own experiences, I can vouch that the impact of such efforts isn’t just one-sided. Working directly with these social leaders and witnessing their enthusiasm and determination first-hand has re-energized me, reminding me of the power of perseverance. This experience, I believe, has also played a pivotal role in shaping my leadership style and instilled a deeper sense of purpose in my work.
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Another peer philanthropist and successful investor, Rakesh Damani, decided to mentor Aftertaste, a Mumbai-based NGO working on women’s empowerment. By leveraging his business acumen, he helped the NGO scale its skilling program to train homemakers as employable, skilled artists and artisans. By streamlining their operations and identifying funding opportunities, he empowered them to reach a wider pool of beneficiaries. These are just some examples of how engaged philanthropy creates a win-win situation for both the individual and the NGO.
Philanthropy isn’t just about giving back, but it’s also about learning and growing. By working directly with these changemakers, the donors gain exposure to new perspectives and challenges. Several HNIs in India these days are leveraging their expertise to help grassroot NGOs build robust fundraising strategies. This not only helps secure critical funds but also equips NGOs with the skills to become financially sustainable in the long run.
From an NGO’s perspective, engaged philanthropists are more like their strategic partners. Here’s why:
1. Sustainability and Innovation: Active philanthropists bring a long-term perspective to the table. They understand that sustainable change requires more than one-off interventions. Their guidance helps NGOs develop long-term plans and build the capacity to become self-sufficient.
2. Bridging the Gap: Many HNIs possess valuable networks and connections. Engaged philanthropy allows them to leverage these networks to open doors for NGOs. This may involve connecting them with potential donors, forging partnerships with corporates or advocating for policy changes.
3. Amplifying Impact: Engaged philanthropists become passionate advocates for the causes they support. They use their influence to raise awareness, inspire others to contribute, and hold organizations accountable for their efforts. This creates a ripple effect, multiplying the impact of the NGO’s work.
According to the India Philanthropy Report 2024, co-created by Dasra and Bain & Company, private philanthropy grew 10% in FY 2023, to Rs 1.2 lakh crore ($15 billion). It is expected to continue to expand at 10% – 15% annually over the next five years, driven by strong development in CSR, family & retail philanthropy. This marks a significant acceleration from the 5% annual growth observed between 2018 and 2023. This shift is driven by a desire for greater transparency, accountability and impact.
From my experience, the impact of engaged philanthropy cannot be overstated. Financial contributions are essential, but they are often just the beginning. When we, as philanthropists, immerse ourselves in the causes we care about, we not only amplify our impact but also undergo a personal transformation. The relationships we build, the stories we hear, and the lives we touch become integral to our own life stories.
Govind Iyer, Founding Board Member and All India Chairperson of Social Venture Partners in India (SVP India)
Philanthropy, when done right, is a transformative journey – for both the giver and the receiver. Engaged philanthropy offers unexpected and deeply fulfilling rewards. For Indian HNIs, the act of giving back through volunteering, mentorship and direct involvement can lead to personal growth, a renewed sense of purpose and emotional satisfaction. At the same time, NGOs benefit from the expertise, credibility and strategic support that engaged philanthropists provide. By embracing this approach, we not only transform the lives of those we aim to help but also embark on a transformative journey ourselves. Thus, in giving back, we often find that we receive much more in return.
Authored by Govind Iyer, Founding Board Member and All India Chairperson of Social Venture Partners in India (SVP India)
Disclaimer – The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content.
