Aside from being a San Diego real estate mogul and the President of Cal West Apartments, David Malcolm also takes immense pride in his role as a philanthropist. His philanthropic efforts began decades ago, when he served on various boards and committees during the early years of his career, helping to boost the organizations he worked alongside.
Since then, Malcolm’s role in giving back to the community has increased substantially—and so has his acumen for it. He’s learned to contribute his talent to various causes while advising reputable organizations on critical business decisions.
The traditional model of giving back relied on “hoping for the best.” But that strategy wasn’t always effective, because it lacked mutual accountability on the part of the nonprofit organization that received the donation. These days, David Malcolm has witnessed the model evolve into a new concept called “impact philanthropy,” which he firmly supports.
But what does this new definition encompass?
A New Definition of Philanthropy
The new era of philanthropy has been a long time coming. Whereas the old model was far more transactional (with donors moving from charitable cause to charitable cause while failing to monitor results), today’s version of philanthropy depends upon a results-oriented approach. In short, donors are functioning more as business leaders seeking efficient planning, strategy, and metrics.
“Donors, whether individuals or organizations, want more engagement, more ongoing interaction, and sustainability of both the entities they support and the results they produce,” says Malcolm.
Shifting Philanthropy to a Business Mindset
Shifting philanthropy toward a business mindset takes time and effort. As David Malcolm says, it requires having a clear strategy in place and being able to communicate that strategy to potential donors .
Furthermore, Malcolm asserts that it “means planning for the short-, medium- and long-term. And it means establishing metrics in advance to show results. In short, it’s about accountability.” In other words, Malcolm believes donors and the nonprofits they support must have a detailed plan established to ensure donations effectively accomplish a goal.
Time, Talent, and Treasure
“Nonprofits seek the time, talent, and treasure of their supporters—both corporate and individual,” says David Malcolm. “And for me, those three were a continuum that evolved over time.”
That specific evolution saw Malcolm using his expertise in real estate and business to benefit St. Vincent de Paul Management, the real estate division of Father Joe’s Villages. He was a board member for 21 years, with four years as the chair, and he was able to offer his knowledge on various real estate issues, including “how to build additional facilities, how to work with the City of San Diego’s Development Department, and how to handle donated or acquired land.”
As the years passed, Malcolm began to donate capital to nonprofits in addition to the time he provided. The money he donated helped in various ways, particularly in areas that he believed could make the most difference.
Today, he’s made another shift in his approach to giving. “Matching gifts are an important way donors can give back, as they can double the impact and increase the number of donors,” says Malcolm. In this way, he’s making a bigger impact and ensuring his approach covers all the bases.
In Nonprofits, Accountability is Key
As Malcolm touched on earlier, perhaps the most essential component in this modern era of philanthropy is accountability, which the business approach to philanthropy stresses. As he puts it, a mindset of accountability “shifts the focus from outputs—such as providing blankets, clothes, meals, and temporary shelter to the homeless—to outcomes—such as helping people experiencing homelessness return to permanent housing.”
The same thought applies to matching gifts, which in turn can spur more foundational fundraising. When considering matching gifts, Malcolm asks questions like, “Did my gift allow an organization to double the amount and deploy more resources to the problem? And are the actions and results sustainable over time?”
Today, when a nonprofit organization approaches Malcolm looking for guidance, he listens as intently as possible and asks numerous questions. This allows him to understand the business’s case for his support.
Malcolm has had a long, impressive career. He’s worked hard both for his status and his wealth, so he wants to ensure his philanthropic efforts are sustainable. That’s why he’s adopted this modern approach—because it can create lasting change and leave the ultimate impact.
About David Malcolm
With a five-decade track record of success in the real estate industry, David Malcolm is the President of Cal West Apartments, which has provided homes for thousands of clients. Malcolm has also served in several civic offices and is a generous contributor to many public and private organizations.
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