HEC Research Papers Series,
HEC Paris

Abstract: Historically philanthropic efforts focus not only on immediate needs and crisis response but also on strategic and forward-thinking interventions to address root causes and create enduring change. Yet, contrary to its original, characteristic long-term ambition, the philanthropic sector is no exception to the trend of neglecting the long-term. Today philanthropy’s self-imposed evaluation methods on the impact sought tend to prioritize the short and medium terms over the long one. Philanthropy’s obsession with metrics such as KPIs reduces the chances for grantees to operate for – and attain – long term transformations. More critically, being themselves the expression of dominant economic and social systems – as embodied by conservative boards, elitism and preferences for mainstream topics - foundations are deeply embedded into shortermism.

Hence there is not only a need for philanthropy to rethinking its own approach to the long-term in its giving - by systematically imagining and crafting alternative scenarios for a more equitable and sustainable world –, but also the opportunity to structurally alter the short-termism embedded into our systems. This essay calls to the philanthropic sector to renew its original commitment with the future, by providing some recommendations. It concludes that for philanthropy the future generations’ agenda is about reconciling itself with its original long-term perspective, by committing to embed future thinking and foresight not only within itself but also within governments across the world.

Keywords: Philanthropy; civil society; future; future generations; foresight

JEL-codes: I18; K23; K32; K33; K40

4 pages, April 30, 2024

Note: in Futures Philanthropy: Aspirations in the 21st century. Anticipation for the common good, Copenhagen Institute for Future Studies and Philea, Brussels, March 2024.

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