Benchmarking in philanthropy

Benchmarking in philanthropy involves comparing the performance and effectiveness of charitable organizations, programs, or initiatives against industry standards or peers. This process helps donors, nonprofits, and stakeholders identify best practices, measure impact, and improve their strategies. By analyzing data and outcomes from similar entities, organizations can set realistic goals, increase accountability, and optimize resource allocation. Essentially, benchmarking provides a way to evaluate how well a philanthropic effort is performing relative to others, fostering continuous improvement and greater social impact.