Philanthropy is frequently seen as merely a financial endeavor, a way for the affluent to support societal causes. But at its core, it is an expression of our commitment to improving the world around us, extending beyond just financial contributions to include an investment of time, as well as personal involvement.
Dedicating time to a cause is an underappreciated yet powerful way to engage in philanthropy. By investing your time in causes that matter to you, you enable direct engagement, skill-sharing, and strategic involvement, which amplifies the impact. A thoughtful investment of time can create a lasting legacy of positive change. Here are some key considerations to help you maximize the impact of your time in philanthropy.
Understanding your values and beliefs
Your philanthropic efforts should begin with a deep introspection of your values and beliefs. Identifying the causes that resonate the most with you will guide your journey and keep you committed. Reflect on what you aim to achieve, who you want to involve, whom your work will affect the most, and how your personal experiences shape these goals. This foundational step ensures that your contributions are heartfelt, targeted, and sustainable. Aligning your philanthropic endeavors with your core values provides a clear direction and enhances the likelihood of making a lasting impact.
Defining success and measuring Impact
Philanthropic success is subjective. It’s crucial to define what success means to you and identify the specific communities you wish to impact. Are you working to alleviate poverty by supporting gender equality initiatives, ensuring access to meals, and providing basic shelter? Or are you focused on improving education through efforts like promoting financial literacy and building school programs? Perhaps your mission is to promote environmental sustainability by engaging in deep sea research, conserving whale populations, or advocating for plastic-free oceans? Establish clear, achievable goals and develop metrics to track progress. Most importantly, calibrate the why and the who to achieve those goals.
Building strategic partnerships
Whatever form your philanthropy takes, one thing is certain: It is likely that there are others who are already trying to create an impact in the same sphere. Investing your time in building strategic partnerships can enhance resource pooling, knowledge exchange, and overall impact.
These collaborations will then provide more opportunities for you to contribute your time, money, skills, and expertise.
Mentorship and education
Investing time to mentor young leaders or educate communities can create lasting change. By sharing knowledge and experience, you build capacities and foster independence. Mentorship programs can empower the next generation of leaders within your communities, while educational initiatives help break cycles of poverty, improve quality of life, and promote sustainable development. The time you spend on mentorship and education can have a ripple effect, creating a broader impact than one-time financial assistance ever could. True outreach empowers recipients and breaks cycles of dependency. Take the time to understand the needs of your grantees and beneficiaries, and work collaboratively to develop effective solutions.
Board and committee participation
Serving on boards or committees of charitable organizations allows you to contribute strategically to governance, decision-making, and long-term planning. As a board member, you play a crucial role in overseeing operations, guiding organizational strategy, and ensuring accountability. By dedicating your time to these leadership roles, you help position the organizations you support to make a lasting impact.
Engaging directly with communities
Directly engaging with those you aim to help is one of the most fulfilling aspects of philanthropy. When you spend time volunteering on the ground, you gain a firsthand understanding of the challenges and needs of the communities you support. This hands-on involvement gives you a clearer perspective, allowing you to tailor your efforts for the most significant impact. Direct engagement fosters a deeper connection to the cause, making your philanthropic efforts more personal and meaningful. It also lets you witness the positive changes your contributions bring, reinforcing your commitment and passion.
About the author
Akshay Sardana is the vice president of Strategy & International Development at the Continental Group, a leading financial services provider and insurance intermediary he joined in 2009.
A graduate of the Boston University School of Management, Akshay honed his skills at Citigroup, New York, where he held strategic roles on the derivatives and fixed income desks. On his return to the Middle East, where he spent his formative years, Akshay brought a renewed, international perspective, which he has since ingrained in the Continental Group’s expansion and business development.
