Black MBA - Spring 2008 - (Page 55)

social justice philanthropy by strengthening the pool of new philanthropic workers and young people interested in the field or related careers. The good news is that foundations tend to pay well. Entry-level professionals can expect to make more than nonprofit executives. And while foundation salaries are not comparable to corporate jobs, the lifestyle may be good for those who like travel and exposure to new people. In philanthropy, it is your job to get to know trends and the communities served by your foundation. Most foundations are revered in their communities. Their board members are the power brokers who make sure some institutions stay afloat. Working in foundations stems from a spirit of giving that is at the core of NBMBAA. People who receive would like to give back. The bad news is that philanthropy can be a difficult field to break into. Limited academic training is available – with Indiana University being one of the first universities to offer a Masters of Arts in Philanthropic Studies. However, some foundations offer fellowship programs to introduce people to grantmaking. Foundations based in Chicago, San Francisco and New York tend to offer the greatest number of opportunities. Although there are 60,000 foundations in the U.S, philanthropy is a small industry, and high-level positions don’t turn over often, says Tammy DowleyBlackman, Director of Diversity Fellowship Programs for Boston-based Associated Grant Makers (AGM). The organization is a community of foundation staff and trustees, corporate grantmakers, donors and philanthropic advisors working to support and expand philanthropic giving. “I tell people to keep their eyes wide open and be flexible,” she says. But things are slowly changing, suggests Stahl, referring to support systems such as EPIP, a national network that assists budding grantmakers. In the recent past, the industry, like many others, was dominated by mid-career and retired leaders, leaving little room for young grantmakers to make their way into the field. Other gains are being made by programs like the Associated Grant Makers Diversity Fellowship Program. The full-time nine-month salaried fellowship provides diverse professionals with an intense introduction to the philanthropy field. “They [participants] really get a broad spectrum of what working in foundations looks like, from the very small to the very, very large,” DowleyBlackman says. “We give them contacts and networks they might not have access to otherwise.” KEYS TO PROPEL YOUR PHILANTHROPY WORK People who do foundation work tend to use their skills and work experience to further a cause close to their hearts or to develop programs that will improve a community. But it requires meeting people where they are, suggests Stahl. “Good grantmakers are bilingual,” he says. “They [grantmakers] need to have the ability to communicate with all facets of society, from the very wealthy to the very poor.” He also considers patience and diplomacy key skills. He adds that it doesn’t hurt to write well and give great presentations that can sell your ideas – along with developing a strong sense of strategy and understanding of management structure. Though corporations have the advantage of profit, retaining top talent is tough in almost any industry. “We want to create a cadre of leaders who will become senior leaders in order to maintain what we have and build on that,” Austin says. “We need very clear standards in place around diversity. We need to create supportive relationships and networks to reduce isolation, because we are only as strong as our network.” Barbara Bostick, Director, Donor Relations for the NBMBA Foundation. BlackMBA • Spring 2008 55

Table of Contents Feed for the Digital Edition of Black MBA - Spring 2008

Black MBA - Spring 2008 Passion, Purpose and Power Contents Web Browsing From the President & CEO Up Front Advertising for Change CEO to CEO: Straight Talk with Barbara L. Thomas and Renetta McCann The New Executive Search Wealth Building: A Head Start on Investing and Saving Young Continuing Education: Lifelong Learning is Easier than You Think Making Good: Catching up with some of NBMBAA’s 2007 Scholarship Winners On Campus: Universities Win Grants to Fight Poverty Public Service: Does Your MBA Fit in the Government Sector? Bridge Building: Make a Career of Giving Back Steady Speed: Kim Harris Jones Shares what Drives a Successful Auto Industry Career Financial Planning: A New Way to Work Your MBA Global Focus: Keeping up with the Competition Clock On the Move: Member News, Promotions and More Industry Focus: Biotechnology, Energy, Food & Beverage, Global Media and Entertainment Employer Profiles: Campbell Soup, FINRA Financial Finesse: Denise Hales Harrod and CompuCredit Advocate for the Financially Underserved Creating Lasting Change: GE Impacts Quality of Life in Africa William W. Wells Jr.: Finding Strength in Diversity Leaders of Tomorrow® Community Service Program: NBMBAA® and Wal-Mart Partner to Reward Students Who Give Back Reaching Out: NBMBAA® Chapters Give Back to Their Local Communities How To… Buy a Franchise: Understanding the Basics of Acquiring a Franchise After the Gridiron: Keith Sims – Dunkin’ Donuts Franchise Confidential: Paul Hubbard – Papa John’s pizza Strength Through Adversity: Bob and Hortense Bobbitt – McDonald’s On the Ground Floor: Valerie Daniels-Carter – Pizza Hut, Burger King, Auntie Anne’s Use Your Superstar Status: Black Entrepreneurs Break into Japanese Economy Marketing Maven: Odyssey Media Entrepreneur Linda Spradley Dunn Staying the Course: Black Marathoners Share Lessons from the Race Relationship Forum: Soul-Mate Strategies for the Career-Minded Vacations that Matter: Travel to Make a Difference Advertisers Index

Black MBA - Spring 2008

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