Health system leaders without a deep philanthropic bench often approach fundraising as a way to close budget gaps — but for one longtime cancer center CEO, that mindset gets it backward from the start.
Robert Stone is CEO of Duarte, Calif.-based City of Hope, a role he’s held for 13 years after three decades with the organization. He recently joined the “Becker’s Oncology Leadership Podcast” to discuss access strategy, growth and the lessons he’s learned building City of Hope’s philanthropic model.
Here is an excerpt from his conversation:
Editor’s note: Responses have been lightly edited for clarity and length.
Question: What mistakes have you seen other systems make when trying to build out philanthropic partnerships?
Robert Stone: I’ve talked to many health system leaders who don’t have the history of philanthropy, and they look at philanthropy as a means to fill budget gaps. I think that’s the wrong way to look at it. Donors want to make a difference. Large donors, small donors — they want to take up something that they’re passionate about, and they want to accelerate progress. So the goal is not meeting a budget gap. The goal is helping donors find a way that they can make a difference.
Often, donors have a passion and want to make a donation about something that isn’t core to your mission or your strategy. You’ll know you have a true philanthropic engine when you say no to donations because you’re not the right organization to take that donation and take it forward. Make sure that the donations you receive further your goals and vision.
The third lesson is I see too often people viewing philanthropy as a transaction. Philanthropy is about building relationships. If you really work with donors to find a passion — whether that passion is research, access for underserved communities, improving nutrition or education — and then you take their donations and put them to good use to fulfill their wishes, those donations will lead to other donations. Some of our best donors are people we’ve had decades-long relationships with.
Listen to the full conversation here.
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