Making an Impact: Interview with Impact Philanthropist Adrienne Arsht
I recently went one on one with noted impact philanthropist Adrienne Arsht. Adrienne served as Chairman of the Board of TotalBank, growing the bank from four locations to 14 with over $1.4 billion in assets. Adrienne is a prominent supporter of numerous leading organizations in the arts, education, social justice and world affairs.
Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What inspired your passion for philanthropy? What experiences, failures, setbacks, or challenges have been most instrumental to your personal and professional growth?
Adrienne: Growing up, I learned very early on from my parents that philanthropy and helping to improve the lives of others is the true meaning of life with the goal to leave the earth a better place than when we started. After law school, I moved to Manhattan in 1969 to work in the legal office of Trans World Airlines. It was an exciting time to work in NYC as well as one of the world’s great airlines.
Although I was an attorney, and the first woman to work in the Property, Cargo and Government Relations Department, I was usually the only woman at the table. I earned that spot but knew in those early days that to be accepted, I needed to not only be smart but also savvy. I learned to smile when those assumed that since I was a woman who worked at TWA, I must be a flight attendant. It was humbling but also eye opening. After TWA, I moved to Washington D.C. to practice law and in 1996 moved to Miami to oversee TotalBank with my late husband and had the good fortune to sell it to Banco Popular in 2007. Afterwards, having the financial freedom to become an impact philanthropist, I decided to support the fledgling Miami Center for the Performing Arts, now the Adrienne Arsht Center for the Performing Arts. I knew the philanthropic gift was an investment not only in the arts that I have long loved, but also it would be the catalyst that set the stage for the rebirth of Miami’s downtown district into a world class arts and cultural destination.
2020 was a challenging year to say the least and I think it showed the importance of supporting our surrounding communities as well as helping to support diversity, gender, and racial equality. Whether it is a large gift to a major museum to help break down barriers of access in the arts industry or a small gesture like donating a toy to the U.S. Marines Corps Toys For Tots over the holidays, the donation you make should have a positive impact on someone’s life.
Adam: How do you evaluate potential giving opportunities? As a philanthropist, what advice do you have for leaders of non-profit organizations?
Adrienne: There are so many great causes and important issues out there, it’s hard to always know where to start. I personally like to focus on issues that may need more attention or have a greater need for a solution. My advice for leaders of non-profit organizations is to take a step back and see what needs have not been met and think about different ways to achieve a solution. There are many ways to enhance and improve an organization like new programs, new partnerships, etc.
I learned from both my parents at an early age about being active in the community and that philanthropy is about making a difference and doing something others might not take on. I use this as the base of my philanthropic decisions and like to think they are game changers and how I choose to make an impact.
Last year, I gifted $5 million to The Metropolitan Museum of Art in support of its MetLiveArts projects on resilience and to fully fund the Museum’s undergraduate and graduate internship programs. Paid internships are an important step forward in a career and can impact the rest of one’s professional life. By creating a more level playing field and equity in the arts, it allows more opportunities and enables greater inclusivity for all. The gift makes the Met Museum’s paid internship program the largest of all cultural institutions in America. We are looking forward to the first class of paid interns to start their training on February 8, 2021. The fact that applications swelled from the usual 300 to 1000 underscores the interest and the need for the program.
Personally, I am so proud of this gift as it pays tribute to my late father Samuel Arsht, who like so many of our aspiring students, had to work his way through college and law school. He was a Hebrew School tutor. When he was recognized for his academic achievements with an offer to join the Law Review, he had to decline the prestigious offer as it was an unpaid position he could not financially afford. It is something he often wondered about and my hope is that by funding internships, other cultural institutions and corporations will follow suit since many ambitious high school and college students will no longer have to make the choice of a job or a paid internship that may advance their networking and career opportunities.
Adam: In your experience, what are the key characteristics of an effective leader?
Adrienne: First and foremost, I think an effective leader has compassion and communicates efficiently. It’s important to have candid conversations and to be open to new perspectives. Everyone has something to offer and it’s important to learn from others and reward those who have contributed to the bottom line. A leader is also an optimist. A half-full-glass leader is more likely to lead their employees to be more productive than the half empty type.
Adam: How can leaders and aspiring leaders take their leadership skills to the next level?
Adrienne: Read as much as possible, even if it is out of your comfort range. I am constantly reading newspapers, magazines, books, blogs, really anything. There is always something new to be learned, a fresh perspective to hear and a story to be told. Knowledge is power and curiosity is key. I am currently reading two new books; Mario Alejandro Ariza’s Disposable City: Miami’s Future on the Shores of Climate Catastrophe and Jennifer Silva’s We Are Still Here which chronicles the erosion of the American Dream and how so many American immigrants are living on the edges. It is eye opening. I am also re-reading Linda Robinson’s One Hundred Victories: Special Ops and the Future of American Warfare. Although written in 2013, we can always learn from history past and present.
Adam: What is the best lesson you learned over the course of your business career?
Adrienne: Know when to sell.
Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?
Adrienne:
Be proactive – There are so many people with wonderful and great ideas, but you need to be committed to the work behind it in order to see it actually come to life.
Be open-minded – Change can be scary but being open to it can lead to new perspectives and greater outcomes.
Be positive – Life was not meant to be easy and it’s about how you embrace challenges.
Adam: What is your best advice on building, leading, and managing teams?
Adrienne: While I typically work alone and don’t have my own team per se, I am always working with others and believe communication is key. We are all human and we are all learning. I believe having open conversations is important as well as leading with compassion.
Adam: What is the single best piece of advice you have ever received?
Adrienne: Best advice was shared with me by my Father "You only regret your economies." That can be time or money. Give an extra 10 minutes of your time when someone needs to be listened to. Give an extra tip. It may only be a few dollars to you but it could make an impact to the recipient.
Adam: How can anyone pay it forward?
Adrienne: Give back because it fills your soul with joy and purpose. The greatest gift you can give is your time. Everyone can find a cause that they’re passionate about and supporting it doesn’t always mean reaching for your wallet. Research local organizations that inspire you and learn about how you can get involved. Every bit of effort can add up and make monumental changes.
Case in point: Two areas that I am supporting will make an impact in the lives of many now but will also be an investment in our future.
Like my father, the college student who previously couldn’t afford an unpaid internship, can now participate in a program designed to not only educate but to enhance the career opportunities through networking and yielding long lasting business relationships. When this student enters the work force, they will have a greater chance of success and will likely understand the value of paid internships and invest in the future of additional interns and hopefully donate to the Metropolitan Museum of Art.
The other major initiative I support is resilience and have partnered with the Rockefeller Foundation to form the Adrienne Arsht-Rockefeller Foundation Center for Resilience at the Atlantic Council. Our goal is to reach one billion people with resilience solutions to climate change, migration, and security challenges by 2030.
Adam Mendler is the CEO of The Veloz Group, where he co-founded and oversees ventures across a wide variety of industries. Adam is also the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one on one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal winning athletes, political and military leaders - for intimate half-hour conversations each week. Adam has written extensively on leadership, management, entrepreneurship, marketing and sales, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities and non-profit organizations.
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