(L-R) Debra Black, Co-Founder and Chair of the Board of Directors, Melanoma Research Alliance, Shmuel Meitar, Director, Aurec Group

This panel, comprised of leading philanthropists, philanthropy advisors, and foundation leaders, addressed strategies for building more effective and successful medical research portfolios. Panelists Debra Black, Founder and Chair of the Melanoma Research Alliance, and Shmuel Meitar, Co-Founder and Principal of the Aurec Group, offered suggestions for measuring influence, assessing return on investment, and aligning resources – both financial and human – for greatest impact. Principal among the panel’s recommendations were setting specific milestones, using all available tools, being fully transparent and taking responsibility for results.

Ken Langone, former director of the New York Stock Exchange and co-founder of Home Depot, suggested applying the same principles used in business to reduce waste and redundancy in philanthropic investing, focusing on leveraging existing resources as much as possible.

A critical factor to achieving success is studying and “memorializing” past failures so that metrics can be adjusted and risks reduced along the way. Kyle Peterson, Managing Director of FSG Social Impact Advisors, noted that the highest engagement occurs when individuals are touched directly by a cause – whether through personal experience or a patient story – and that as engagement increases, so too does the likelihood of impact.

Moderator:
Melanie Schnoll Begun, Managing Director, Morgan Stanley Smith Barney Philanthropic Services

Speakers:
Debra Black, Co-Founder and Chair of the Board of Directors, Melanoma Research Alliance
Kenneth Langone, Founder Home Depot
Shmuel Meitar, Director, Aurec Group
Kyle Peterson, Managing Director, FSG Social Impact Advisors

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