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The Business of Giving

Exploring philanthropy, non-profits and socially motivated business, from the Gates Foundation to your donation. A fresh look at the economy of good intentions.

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November 3, 2009 at 10:55 AM

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Seattle Foundation CEO Norm Rice starts to make his mark

Posted by Kristi Heim

Norm Rice has only been on the job at the Seattle Foundation since July, but he aims to broaden the foundation's base from hundreds of wealthy donors to more than a million people in King County.

"Everybody can give, whether it's $5 or $5 million," he said.



BARBARA KINNEY

Norman Rice, former Seattle mayor and current CEO of the Seattle Foundation.

The Seattle Foundation is one of the largest community foundations in the country and the fifth largest foundation in Washington state, according to the Foundation Center, with assets of about $570 million.

With a staff of 26, the foundation has 1,200 funds under its umbrella, ranging in size from $30,000 to many millions of dollars. They include bequests from people who have made gifts to charity in their wills, and active "donor-advised funds," which help philanthropists invest their assets and make grants to charitable causes without the time and expense of running their own foundations. The foundation charges fees averaging 1 percent of the fund's balance.

Rice said he wants to get more people involved, with or without a fund. It's part of a sea change in philanthropy, a shift from passive donations to a new model shaped by a younger generation eager to see results and be personally engaged.

To broaden its appeal, the Seattle Foundation is revamping its Web site to offer detailed profiles and reviews of the non-profits and programs it funds, and allow online donations for the first time. The new Web site, expected to be launched early next year, will also have an Amazon.com-style recommendations feature to help people find programs related to their interests.

His goal is to reach as many as 1.5 million people over the next several years, getting them involved in some way with the foundation's programs. He'd also like to increase the number of donor-advised funds the foundation manages from the current 750.

Even without a lot of money to give, he thinks people can help support its long-term strategy to improve the community by working in seven areas: basic needs, the environment, the economy, education, arts and culture, neighborhoods and communities, and health and wellness.

Rice said he wants to focus particular attention on workforce development and early childhood learning.

Speaking to the Seattle Philanthropic Advisors Network (SPAN), the former Seattle mayor said he thinks "foundations are in an enviable place to be change agents" and show governments new ways to solve problems.

The foundation's assets, down 27 percent last year, have bounced back somewhat this year, growing 17 percent from January through the third quarter. While it has had to make significant cuts in its operating budget, Rice said he doesn't expect the foundation to reduce its grant making.

After taking a financial blow in the past year, non-profits have been forced to work with fewer resources. More than ever, it makes sense for them to consolidate, Rice said.

He suggested a "non profit mergers and acquisitions fund," where "those who come together get the dollars. I just believe some things we're funding are doing too many things that are alike."

"Every organization needs to look at themselves to see what they do best," he said. If someone else is doing it better, they should partner or concentrate on something else.

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Charity in this country is like corporate America; it's big business! The high administrative costs associated with this charity as well as...  Posted on November 3, 2009 at 2:26 PM by jbechs. Jump to comment
This foundation wants your money....but you should question how big Mr. Rice's salary is. I think you would be surprised, and then would...  Posted on November 3, 2009 at 1:41 PM by oprahoprah. Jump to comment
Halloween is over, so why are we resurrecting bad spirits from times past? Well maybe not a bad spirit, but certainly one of the most arrogant...  Posted on November 3, 2009 at 2:42 PM by Brier guy. Jump to comment

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