A Wallace Perspective: Creative Philanthropy

A Broader Vision of the Potential of Foundations

2010, 4 pages, The Wallace Foundation, 5 Penn Plaza, 7th Floor, New York, NY 10001, (212) 251-9700 http://www.wallacefoundation.org

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This Wallace Perspective summarizes key messages in a new book, Creative Philanthropy, written by two leading experts on the nonprofit field, Helmut K. Anheier and Diana Leat. It argues that foundations have a unique but often underutilized capacity to develop innovative solutions to major public problems through the “creative philanthropy” approach that takes advantage of foundations' distinctive ability to test innovative ideas, take risks and share effective approaches so that entire sectors can increase their ability to serve people. The book provides case studies on some foundations that practice this approach, including The Wallace Foundation. The Perspective paper concludes with a discussion of The Wallace Foundation's ongoing efforts to move beyond tradition grantmaking toward a new “Wallace Approach” whose goal is to enable the foundation to catalyze wide-scale change that benefits institutions and people beyond the reach of the foundation's grant dollars.

Available online in pdf format from The Wallace Foundation