The Boston-based Center for Effective Philanthropy will split into two organizations, one a free resource about the grant industry and the other a paid consulting service, the Washington Post reported June 26.
The center was created last year by Harvard Business School professor Michael E. Porter and lawyer/venture capitalist Mark R. Kramer. The two believed that many foundations had inefficient and outmoded operating procedures, and sought to help.
“When we began,” Kramer told the Post, “we had a single objective: to offer foundations the knowledge and tools to become more strategic and effective. This requires three things: accurate research, educational programs that bridge theory and practice, and a cadre of specialized strategy consultants.”
The center will continue its research and education activities, but will spin off the for-profit consulting operation as the Foundation Strategy Group Inc. The center will take a minority stake in the group and use the profits to help fund center research.
For full text, go to the Washington Post.