R. Barkley Payne is the executive director of Invest in Others Charitable Foundation, a nonprofit dedicated to celebrating and amplifying the charitable work of financial professionals and their firms.
Russ Alan Prince: Tell us about your role at Invest in Others Charitable Foundation and where the organization’s focuses are these days.
R. Barkley Payne: I joined Invest in Others as its new executive director in February 2023. I previously spent more than 20 years leading nonprofit organizations in the healthcare industry, including serving as executive director at the American Medical Association Foundation as well as the American Dental Association Foundation. It’s been incredible getting up to speed on the impact that our organization has made since its beginning, and soon we’ll create a strategic plan to take Invest in Others to the next level of success when we celebrate our 20th anniversary in 2026.
Prince: How does Invest in Others contribute to the overall financial services industry?
Payne: Our organization acts as a convener and an amplifier. We bring the financial services industry together and then bring attention to the tremendous charitable work of financial advisors, employees, and firms who give their time, talents, and resources to support diverse nonprofits within their communities. We offer several grant and awards programs annually to recognize financial advisors and other industry professionals who are making a difference in their communities nationwide, from raising money for cancer research to empowering women through financial education to teaching children how to read. We always strive to leave a positive impact on these nonprofits by providing critical funding, which in turn helps them to be more visible, generate additional volunteers and secure additional donations.
Prince: What are some examples of notable achievements and the impact of the Invest in Others Charitable Foundation?
Payne: Our impact continues to grow each year. More than half of all the funds Invest in Others has awarded to organizations have been granted in the last three years. We anticipate awarding nearly $1.1 million this year. Annually, the nonprofits we assist serve over 500,000 individuals. Of the nonprofits we’ve recognized, 43% have gained additional volunteers, 46% have raised additional funds, and 82% saw an increase in community awareness. This is the power of an IiO award!
Prince: What is the most effective way a financial advisor can make a difference through Invest in Others?
Payne: The most effective way to get involved is through our corporate sponsorship program and individual giving, although every effort counts, including promoting IiO to your friends and colleagues, especially on social media. We strongly encourage financial advisors to nominate themselves or their fellow advisors for the Invest in Others Awards program and to apply for our Grants for Good and Charitable Champions programs.
Bottom line, we rely on the generosity of individuals and companies to help fulfill our mission because when we work together, we can invest more in others and increase the amount of funds we’re able to award to the charities that financial advisors are actively involved in. To learn more about each of our programs and to get involved, please visit investinothers.org.
Prince: Has the current economic environment impacted philanthropic contributions? Why should an individual consider donating to Invest in Others as part of their philanthropic efforts?
Payne: On one hand, the looming recession creates tension and concern, but on the other hand, there is an opportunity that awaits. In recent years, the amount of money going to charity in the United States has grown, despite the pandemic and the rising cost of living. In the current economic environment, nonprofits and charities are going to need our support more than ever. We are continuing to expand our fundraising efforts and create greater visibility within the wealth management community to be able to award more funds toward the causes financial advisors are supporting. Together, we can make the biggest impact.
Russ Alan Prince is the executive director of Private Wealth magazine and chief content officer for High-Net-Worth Genius. He consults with family offices, the wealthy, fast-tracking entrepreneurs and select professionals.
