Image: Courtesy of Jenna Mulhall-Brereton and Global Geneva Inc
March 21 2010
Last year’s strong stock-market rebound triggered a surge in the popularity of the mutual investment fund. Similarly, the philanthropic mutual fund is proving an attractive option for aspiring donors with significant sums to give. The funds pull together existing nonprofit initiatives that focus on a common problem, such as human trafficking, and then divide each donation strategically among them.
“By contributing to a collection of selected nonprofits, the fund spreads the donor’s money to achieve the greatest impact. And, as it is expertly managed and its characteristics remain fluid, it can be altered as the cause develops to maximise effectiveness,” says Doug Balfour, CEO of leading international philanthropic advisory Geneva Global, which recently partnered with the Philadelphia Foundation to establish the Haiti Global Relief Fund (pictured: the aftermath of the Haiti earthquake). Unlike Geneva Global’s other funds, which require minimum donations from $5,000-$25,000, the Haiti fund has no lower limit.
“We provide regular progress reports and tangible information on the impact of donations,” said Balfour, “so the donor sees the results.”