Financial innovation has found the nonprofit sector. “Philanthropy” no longer simply means “giving funds” and “raising funds” and no longer simply means “fundraising.” Capital markets for nonprofits, insurance against famine, and philanthropy with a rate of return are all upon us. The definitions that guide organizational and revenue planning in the nonprofit sector are shifting under our feet. In the future, fundraisers will need to grasp these new definitions and perhaps expand their own definition of their profession and professional skills.

Susan Raymond, Ph.D., Changing Our World, Inc., New York, N.Y.