Governing a new generation of philanthropy: key leadership tools for success

Philanthropy has taken center stage again after the rapid growth of hospitals in the 1990s. It is an essential resource, not only because today's hospitals need the money more than ever, but also because great philanthropy helps forge rewarding relationships with the community. In meetings with more than 1,000 hospital board members and leaders at The Governance Institute's 2007 conferences, it became clear that maximizing philanthropy in the future will require boards to enhance three initiatives: a bolder service mission, more effective stakeholder engagement tools and enhanced planned giving programs. Health care philanthropy boards and the boards of their related organizations would be wise to devote time for robust conversations about their strategies for feeding the voracious capital appetites of contemporary health care systems and for examining their ability to govern a new generation of philanthropy.