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Bankers have become a tad unpopular these days, considering they had a hand in, well, melting down the global economy. However, bankers do usually get at least one thing right: They know how to pick and finance winning organizations. It’s humiliating but true: Philanthropists can actually learn from – uggh – bankers.
I was guided to this uncomfortable insight while reflecting upon the thoughtful new report from the Center for Effective Philanthropy (CEP), “Grantees Report Back: Helpful Reporting and Evaluation Processes.” CEP surveyed 24,000 grantees about foundation reporting requirements and found that, “On average, grantees do not find current reporting and evaluation processes to be very helpful in strengthening their organizations and programs.”
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Sean Dobson is field director of the National Committee for Responsive Philanthropy. Prior to joining NCRP, he helped found and then lead the Progressive Maryland Education Fund and its 501(c)(4) sister organization, Progressive Maryland, Inc., which together build power and advocate for working families.