Power in purpose
Alumnus turned personal pain and venture philanthropy into a mission to prove everyone can make a difference
Join CWRU School of Law Dean Paul Rose for a fireside conversation with alumnus Jim Bildner, an impact investor, philanthropist, civic leader and author of A Matter of Hope.
Jim Bildner, JD (LAW ’79), is a connoisseur of hope.
He cultivated his own to navigate personal tragedy and challenges, including the death of his son in 2005 and his wife’s cancer diagnosis in 2021. And he nurtured it as a trustee for nearly 20 years with the $4 billion Kresge Foundation, founding its Social Investment Practice.
Today he continues to help others turn hope into meaningful action as CEO of the Draper Richards Kaplan Foundation (DRK), which has funded more than 280 entrepreneurs taking on complex societal issues.
Bildner recently spoke with CWRU Magazine about lessons he shares and his new book, A Matter of Hope.
DRK applies a venture capital approach to philanthropy. Explain.
It’s a disciplined approach that focuses on five critical points. First, we deeply try to understand the problem and the ecosystem that surrounds the problem the entrepreneur is trying to solve. Second, we look to ensure the solution is sustainable over time. Third, we invest in teams that have strong domain knowledge and operating skills. Fourth, we provide these entities with more than money, serving on their boards as operating partners. Finally we only invest once—generally around $300,000—and as a result our portfolio organizations are not auditioning for the next grant—but instead see us as partners and share the good and the bad in real time. It’s a unique model in philanthropy that makes all the difference in the world.
Describe one of your entrepreneurs.
The book profiles a number of them, and, honestly, I love them all. But one worth calling out is Jared—who one day got a call from a family member about a medical issue. They were actually worried about the medical debt. And Jared—a bartender at the time—got so angry that anyone would have to worry about medical bills when dealing with a critical health issue that he started Dollar For. Today, Dollar For has eliminated $100 million in medical debt for people all over the country.
Some people don’t take action because the world’s challenges seem too big.
The only barrier to solving complex issues is taking the first step. Jared shows what one person can do—as do our 280 other entrepreneurs. Everyone, and I mean everyone, has the power to make a difference in the lives of others. We simply need to act.
What’s a key takeaway from A Matter of Hope?
Hope is a verb. It’s not abstract, it’s not wishful thinking, and for sure it’s not passive. It’s in each of us if we choose to use it. Our portfolio organizations have impacted nearly 700 million people. That’s what hope looks like.
