A few weeks ago, Sandy Weill, former Citigroup Chairman, and current Weill Family Foundation Chair, joined the folks on Squawk Box (CNBC) to announce a $50 million gift to the Weill Cornell Medical College.
Squawk Box host Becky Quick, asked him, “why are you making the gift?”
Without pausing he responded with 3 reasons:
- Longevity of relationship with Cornell. “I’ve been involved with Cornell since 1983. So, it’s a long-term relationship.”
- Importance of mission. “We are making a lot of new breakthroughs in cancer (research).”
- Trust in leadership. “Weill Cornell just brought on a bright, new person to head up their cancer operation.”
He has supported Cornell for decades. He believes in the mission. And, he trusts the leaders to implement.
Sandy Weill’s giving motivations are not unique or novel. For decades, we have known that personal connection, belief in mission, and trust in leadership are fundamental keys to motivating philanthropy in all its forms.
So, here is a question:
If what you are working on today as an advancement professional is not directly strengthening the relationship between your institution and your best donors and prospects, is not helping them embrace the importance of your mission, or is not building deeper trust between them and your leaders, why are you doing it?
P.S. You also might want to share this clip with your president, chancellor, or dean, because Sandy joined the show with the Dean of the Weill Cornell Graduate School of Medical Sciences, Bob Harrington. It is clear that Bob’s involvement with Sandy is a critical component of their philanthropic partnership.
