Knowledge management comes to philanthropy

Foundations are endowed with intellectual as well as financial capital. Now is the time to use it. says Mckinsey Quarterly...

Philanthropic foundations are knowledge-intensive bodies. Almost everything they do, from identifying innovative nonprofit organizations to evaluating grants and publishing policy-shaping reports, depends on the use of human and intellectual capital. But many philanthropies, fearing that a dollar spent internally is a dollar wasted, have neither the organization nor the systems to manage their knowledge properly. What they fail to understand is that knowledge is a cornerstone of effective philanthropy