The 1990s has been called a Golden Age for philanthropy. A prosperous economy, an increasing number of wealthy individuals who recognize the role charitable giving can play in building stronger communities and institutions, and improved management and leadership practices of many nonprofit organizations have created new opportunities for addressing and improving society's ever-increasing human, cultural, and artistic needs. This state of affairs has come about through significant changes in the economy, donor demographics, and a shift toward greater active participation in community issues by people and institutions.

High Impact Philanthropy addresses these issues, focusing on major gifts —— which the authors refer to as transformational gifts —— from individual donors. Transformational gifts are not simply large amounts of money; they have the power to measurably alter the programs, perceptions, and future of an organization, and they are investments in the future, often serving as a model or challenge to other donors. The authors, both independent fundraising consultants, discuss the new attitudes in philanthropy and show how nonprofits in the twenty-first century must adjust their fundraising techniques accordingly if they are to succeed in attracting transformational gifts that can make an impact on the needs of their constituencies.

The book is divided into three parts. In the first, Grace and Wendroff discuss the new philanthropy and its impact on the major-gifts culture. Contrasting transformational giving with the traditional transactional giving, the authors discuss the role of major gifts, describing them as both a program and a result. They lay down the requirements for constructing a culture within organizations that will facilitate transformational giving, and provide the principles and steps required to make the case for transformational gifts both within the organization and outside it.

In part two, the authors offer important insights into the motivations behind transformational giving. Today's donors want to engage in issues that matter deeply to them and to their communities; they want to effect perceptible change and in a manner that will achieve faster results. Many wealthy individuals fall within a younger age bracket than has previously been the case, and their attitudes reflect this: they are impatient with bureaucracies and need to see returns from their investments. Like foundations, they are increasingly program-oriented, and they favor hands-on and long-term involvement, a phenomenon often referred to as venture philanthropy. Indeed, they are not simply donors but donor-investors, and nonprofits must understand and respect this in order to attract them. A valuable section is included on research strategies, techniques, and resources for identifying the transformational giver, though it is not as specific as one might wish.

Part three is devoted to the new donor/organization partnership, providing a tactical approach to asking for major gifts and describing new approaches to volunteer and donor involvement. The authors point out the importance of nonprofit marketing; this, too, requires a change in approach in order to emphasize important values and issues that will capture donors' attention. Examples from successful corporate and nonprofit marketing campaigns serve as helpful illustrations. Also discussed are effective stewardship practices essential for cultivating and maintaining donor relationships. The authors advise connecting donors with an organization's program, and that means focusing on issues, not merely the organization.

Grace and Wendroff present the concepts and issues of the new philanthropy in an organized, clear, and concise manner, and enrich the text with diagrams, case studies, and visual examples. Additional resources include a timetable for achieving the desired results, an annotated list of professional organizations for nonprofit agencies, and lists of nonprofit newspapers and recommended readings. Nonprofit organizations that do not understand how to cope with the evolving world of charitable giving will find High Impact Philanthropy a useful guide.

For citations to additional literature on this topic, refer to Literature of the Nonprofit Sector Online using the subject headings "Major gifts campaigns" or "Fundraising — —techniques."