DOI
10.9707/1944-5660.1786
Key Points
This article shares first-hand experiences of a charitable foundation operating under a spend-down model, illustrating how a fixed time horizon shapes philanthropic and programmatic behavior. The authors discuss three conditions that a spend-down horizon reliably forces: the imperative to fund quickly, collaboratively, and boldly on shared goals; the discipline to concentrate capital with strategic focus; and the emphasis on learning and collaboration as both a means to optimize for impact now and to sustain and scale impact over the long term.
Authors explore the influence of these conditions in a series of case studies working towards a clean energy transition in Australia. They argue that the finite timeframe created by a limited-life horizon, combined with trustbased regranting, motivates a foundation to maximize impact while investing in field infrastructure that outlasts it, and incentivizes grantees to build independent capacity and diversify support.
The authors conclude by encouraging more philanthropic institutions to draw lessons from the spend-down model — particularly its capacity to force urgency and discipline — to facilitate the capital shift required to address the global climate emergency.
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Recommended Citation
McKinnon, M. C., Rogers, S., Gunsberg, D., & McIntosh, E. (2026). Spend-Down to Scale Up: Limited-Life Giving in the Climate Crisis. The Foundation Review, 18(3). https://doi.org/10.9707/1944-5660.1786
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