Navigating the World of Philanthropy: Key Insights and Practical Steps

Written by Communications at MASECO

Philanthropy is a deeply personal journey that holds the potential to create lasting change. Yet, for many, starting or refining a philanthropic strategy can feel overwhelming. Whether you’re facing a limited amount of time, unsure about where to give, or uncertain of the impact you’ll make, it can be difficult to find your way.

At a recent philanthropy roundtable hosted by Tor Flonaes, Senior Wealth Manager and Partner at MASECO, in collaboration with University College London (UCL) and the Charities Aid Foundation (CAF), experts came together to provide insights on how individuals can make their philanthropic efforts more strategic and impactful. The event featured Ashling Cashmore, Head of Impact and Advisory at CAF, who shared valuable steps for those looking to make a difference, alongside Lara Reichle, Associate Director of Development (International Programmes) at UCL, who highlighted how donor support can transform educational institutions like UCL.

Ashling Cashmore’s Five Steps to Strategic Philanthropy

In her session, Ashling Cashmore outlined five key steps that can help philanthropists at all levels—whether you’re just starting out or looking to refine an existing strategy—navigate the landscape of giving with greater confidence and clarity:

1. Define Your Values and Motivations

Philanthropy is not one-size-fits-all. The first and most important step is to clearly define your values and motivations. Understanding why you care about a particular cause is crucial to ensuring that your donations align with your personal beliefs and passions. Ashling emphasised that motivations can stem from life events, personal experiences, or a desire to create lasting impact. Whether you’re motivated by a desire to empower others or a personal connection to a specific cause, clarifying your “why” is key to a meaningful philanthropic journey.

2. Understand the Needs

Once your values and motivations are clear, it’s time to turn your attention to the actual needs within your chosen cause. Instead of approaching philanthropy with a pre-defined solution, Ashling encourages a deep understanding of the problem on the ground. This could involve researching the gaps in services or programmes, connecting with experts, or assessing where your contribution could have the most significant impact. Only by understanding the true needs can you ensure that your support is used effectively.

3. Define Your Strategy and Focus

With a clearer understanding of the needs, the next step is to develop a strategy. Ashling recommends creating a structured approach that includes criteria such as geographic focus, addressing root causes versus symptoms, and defining the role your family or team may play in the effort. A strategic approach helps to narrow your focus and ensures that your efforts remain aligned with your goals, maximising impact and clarity.

4. Consider the Right Philanthropic Structure

Philanthropy comes in many forms. Whether you want to create a donor-advised fund (DAF) for flexibility or establish a more formal foundation, choosing the right structure for your philanthropic efforts is essential. Ashling stressed that while some individuals prefer the simplicity and tax advantages of a DAF, others may need a formal structure if they plan to manage programmes or fundraise. It’s important to evaluate the advantages of different structures and select one that aligns with your long-term philanthropic goals.

5. Monitor Impact and Learn

The final step in Ashling’s framework is to continually assess the impact of your giving. Philanthropy should be an evolving process—what works today may not be as effective tomorrow. Ashling highlighted the importance of staying adaptable and regularly communicating with the organisations you support. By asking for updates, assessing data, or listening to stories of change, you can refine your giving strategy to ensure it remains aligned with your goals.

Through these five steps, Ashling provides a clear and actionable roadmap for anyone interested in making a meaningful philanthropic contribution, ensuring that their donations create the impact they intend.

UCL’s Approach to Purpose-Driven Philanthropy

In addition to Ashling’s practical advice, Lara Reichle from UCL shared how her institution engages with donors to ensure that their contributions have a meaningful and lasting impact. UCL, with its rich history of inclusivity and academic excellence, uses philanthropy not just to fund projects but to create lasting partnerships that drive forward research, education, and public good.

Philanthropy at UCL: Transforming Lives and Advancing Research

Lara emphasised that philanthropy at UCL is a two-way relationship. The university’s approach is not simply about asking for money, but rather about building lasting partnerships that align with both the donor’s values and the university’s goals. By fostering these partnerships, UCL has been able to drive forward major initiatives that address some of the world’s most pressing challenges.

Examples of Impactful Philanthropy in Action:

1. Scholarship Success Stories: Lara shared the story of a UCL alumnus who, with the help of a bursary, was able to pursue an economics degree at UCL. His success story illustrates the powerful ripple effect that a single scholarship can create—not only does the individual benefit, but they often return to help others in the community, creating a lasting legacy of giving.
2. Corporate Partnerships for Sustainability: UCL’s collaboration with corporate donors has also led to large-scale initiatives, such as the launch of the Centre for Net Zero Market Design, which is tackling the challenge of decarbonising the electricity market. This partnership brings together academia, industry, and government to create actionable policies for a more sustainable future.
3. Legacy Giving: UCL also sees the transformative power of legacy gifts, such as one that funds research into Huntington’s disease. These gifts have long-lasting impacts, enabling research teams to advance cutting-edge therapies while ensuring that donors’ families stay informed about the meaningful contributions their loved ones have made.

These examples illustrate how a strategic and personalised approach to philanthropy—whether through a university, a non-profit, or a family foundation—can not only transform lives but also help address societal challenges.

The Ripple Effect of Thoughtful Giving

As highlighted in both Ashling and Lara’s presentations, philanthropy is most impactful when it is thoughtful, strategic, and aligned with personal values. Whether you are supporting education, healthcare, or climate change, understanding the true needs of a cause, defining a clear strategy, and choosing the right philanthropic structure can ensure that your contributions create a real difference.

For those looking to make a meaningful impact, start small, engage with organisations, and refine your strategy over time. The joy of philanthropy comes not just from the financial support you provide, but from the lasting changes you help create.

With guidance from experts like Ashling Cashmore and Lara Reichle, philanthropists can navigate the complex world of giving with greater confidence and a clear vision, ensuring their generosity leaves a lasting legacy.