Here's how you can transition from a for-profit career to a nonprofit career in philanthropy.

Making a career transition from private sector to philanthropy is entirely achievable. If you are considering such a transition, here are some steps to consider: - Understand the sector- Research philanthropic organizations, their size, focus areas/social issues, etc. Foundations and philanthropy come in different forms such as endowments, private family, corporate, etc. - Leverage transferable skills- Identify how your skills and experiences are applicable to the philanthropic sector such as communications, marketing, finance, investment strategy, etc. - Network and conduct informational interviews- Connect with leaders and experts in this space and ask for an informational interview.

The philanthropy sector is rich in positions that offer generous time off, sense of purpose, meaningful collaboration, and continual learning. If these vales drive you, you’ll find a home here. Don’t expect fast upward mobility in your organization or generous pay. For these reasons many second careers bloom in the sector, which tends to be less ageist than others.

Board service is an excellent way to gain understanding of various nonprofit business models. Better yet, serve on the finance, endowment or fundraising committee to boost your knowledge. Genuine understanding of nonprofit accounting and fundraising is always in demand.

One thing I’ve found people from the private sector bring to the nonprofit sector are their networks. Specifically, people who can contribute financially and in other ways. However, people usually underestimate how hard it is to translate these networks into new support for nonprofits. Just as having a clear value proposition was necessary in the private sector this is also crucial in the nonprofit sector. There is just too much competition to rely on goodwill alone.

To be sure, our leadership skill set and our network are the foundation stones of success in the private sector as well as the philanthropic sector. There is little difference in the inputs, only in the outcomes. In many cases, active professionals who have "earned their salt" as top leaders have already participated for years in regional philanthropic campaigns and events. Interview colleagues in the philanthropic sector before making the transition so as to be prepared for the new landscape of expectations.

There are additional things to consider. In the United States there are different laws and regulations that govern non-profits. It is fundamental to understand them. These impact many areas from fundraising to programming and more. Importantly before joining a non profit organization ask to see their by laws and understand how they govern themselves. This will tell you a lot about their leadership structure, the involvement of the Board and other critical elements of how the organization is run. Of course nothing replaces being inside an organization and seeing first hand how things are run and decisions are made and the organization operates, however these areas are essential in your research process.

Yes. The boards of nonprofit organizations tend to have more influence and involvement in the day to day operations and decision making than large corporations.