The closing keynote speaker at the recent Florida Philanthropic Network Annual Summit was certainly thought provoking. He is Dan Pallotta, an author, strategic thinker and President and Chief Humanity Officer of Advertising for Humanity. If you ever get the chance to hear him speak, take it.
Pallotta makes the case that if the salaries of nonprofit leaders were on par with Wall Street Titans, we’d start to see some action. I agree. Nonprofit salaries are typically low, resulting in difficulties attracting and retaining talent. No doubt this can slow down program growth and innovation. And since programs drive nonprofit growth, that’s where progress either happens or stops.
He goes on to say that society has made it difficult for nonprofits to pay their executives top-tier salaries for fear of donor backlash. I agree. We (I include myself) tend to bristle at someone in the ‘charity’ field who is pulling down big bucks.
But times and attitudes are changing. The new reality is that “we” expect nonprofits to make a difference, move the needle, help solve or resolve or move forward in their space. This calls for a significantly different way of doing things.
If nonprofit leaders aspire to make top salaries, “we” will expect results. Instead of donors and funders, “we” will become stockholders. Instead of trying to do everything alone, “we” will expect partners to fill in gaps. “We” will expect innovation, risk -taking and leverage to meet goals. “We” will also expect a healthy ROI and a robust business model to drive success. “We” know what we want—results.
Is the nonprofit community ready? Please share your thoughts!
Learn about these and other concepts used in TPF's approach to philanthropy.
SHARE THIS POST: