In a philanthropic sector increasingly crowded with intermediaries channeling donor money, often in innovative ways, the Economic Security Project has been one of those most willing to push the envelope. In its efforts to promote economic mobility … [Read more...] about A Funding Intermediary Goes to Bat for Government-Run Options in Local Economies
Assets
The Leader of This Growing West Coast Funder Is Zeroing in on the Promise and Perils of AI
A year into her new job as president and CEO of the Heising-Simons Foundation, Sushma Raman is turning her attention — and some of the foundation’s resources — to the potential risks and benefits of technology, particularly artificial … [Read more...] about The Leader of This Growing West Coast Funder Is Zeroing in on the Promise and Perils of AI
A Conversation with Flozell Daniels Jr., CEO of the Mary Reynolds Babcock Foundation
A native of New Orleans, Flozell Daniels Jr.’s first exposure to grantmaking was while serving as a public policy specialist for then-Mayor Marc Morial. After a stint as assistant vice president and executive director of state and local affairs for … [Read more...] about A Conversation with Flozell Daniels Jr., CEO of the Mary Reynolds Babcock Foundation
Gates Sticks With U.S. Antipoverty Giving, But Deeper Structural Questions Remain
The end-of-year “season of giving” isn’t a new phenomenon. Charles Dickens, after all, chose the winter holidays to school Ebenezer Scrooge — and Victorian England — on the scourge of poverty and the corrosive effects of wealth hoarding. The timing … [Read more...] about Gates Sticks With U.S. Antipoverty Giving, But Deeper Structural Questions Remain
A Cross-Sector Coalition Raises Nearly $1 Billion to Tackle Racial Wealth Inequality in the Twin Cities
With the 2020 police murder of George Floyd and the massive uprising that followed it, Minneapolis and its twin city St. Paul gained an association with systemic racism in the U.S. and the simmering rage that racism has inspired. Last month, a … [Read more...] about A Cross-Sector Coalition Raises Nearly $1 Billion to Tackle Racial Wealth Inequality in the Twin Cities
This Chicago-Based Initiative Is Combining Grants and Investments to Cultivate Black Ownership
Black Lives Matter activist Kimberly Jones had this response to critics of property damage done in the wake of George Floyd’s murder: “When they say, ‘Why do you burn down your own neighborhood?’ It’s not ours! We don’t own anything!”Today, a unique … [Read more...] about This Chicago-Based Initiative Is Combining Grants and Investments to Cultivate Black Ownership
Philanthropy Helps Tap Gentrifiers’ Social Connections in Philly Poverty Alleviation Project
Gentrification has an understandably bad rap, but in Philadelphia, the Samuel S. Fels Fund and a handful of other philanthropies are modeling how anti-poverty funders can respond to and work within the context of gentrifying neighborhoods — for the … [Read more...] about Philanthropy Helps Tap Gentrifiers’ Social Connections in Philly Poverty Alleviation Project
This Funding Intermediary Is Giving Guaranteed Income a Boost
For Taniquewa Brewster, a participant in a one-year, $1,000-a-month guaranteed income project that just wrapped up in Austin, Texas, the extra cash gave her more than the (much-needed) money. It also gave her the lived experience of having enough — … [Read more...] about This Funding Intermediary Is Giving Guaranteed Income a Boost
A Billionaire Couple Takes Aim at the Medical Debt Weighing Down American Families
Imagine if you had an illness or accident that sent you to the hospital, racking up an enormous medical bill. You get out of the hospital, and now you have to choose between buying groceries — or medicine, or school supplies for your child, or … [Read more...] about A Billionaire Couple Takes Aim at the Medical Debt Weighing Down American Families
What the Fall of Silicon Valley Bank Says About Who’s Allowed to Take Risks
In the wake of the collapse and subsequent federal takeover of Silicon Valley Bank (SVB) and Signature Bank, a familiar question comes up for us: Who is permitted to take risks?Many people in philanthropy focus extensively on risk, analyzing which … [Read more...] about What the Fall of Silicon Valley Bank Says About Who’s Allowed to Take Risks
What We Learned From a Deep Dive into Economic Justice Advocacy Funding
It’s tempting to think about philanthropy as a sector that’s, well, rich. By most standards, grantmakers in the collective sense have a lot of money, and they deploy a lot of money trying to make people’s lives better. However, in the fight against … [Read more...] about What We Learned From a Deep Dive into Economic Justice Advocacy Funding
“It’s Not Just About Moving Money.” How Solidaire Is Challenging Wealth, Power and Privilege
The conventional philanthropic model rests largely on a bedrock of privilege and top-heavy power dynamics. As long as they stay within the forgiving bounds of tax law, mainstream American law and culture assumes that the rich have every right to the … [Read more...] about “It’s Not Just About Moving Money.” How Solidaire Is Challenging Wealth, Power and Privilege
Fundraisers for Economic Justice See Challenges and Opportunities in a Historic Moment
Organizations working toward economic justice are finding their work has taken center stage, as the pandemic exacerbated and exposed deep financial insecurity among many Americans, and as concerns over income inequality, racial injustice and our … [Read more...] about Fundraisers for Economic Justice See Challenges and Opportunities in a Historic Moment
California Foundations Look to Ensure Billions in Government Aid Are Allocated Equitably
California will soon be on the receiving end of billions of dollars in public funding for economic development. An estimated $42 billion will come from the American Rescue Plan Act (ARPA) — the $1.9 trillion stimulus package designed to aid economic … [Read more...] about California Foundations Look to Ensure Billions in Government Aid Are Allocated Equitably
A Funder Effort to Fight Poverty—One Taxpayer at a Time
Over the last few months, Vanessa Valdes has spent much of her time traveling around New Hampshire, attending meetings in community centers and church basements, and passing on a simple message: “File your taxes. We can help.” Valdes is on the front … [Read more...] about A Funder Effort to Fight Poverty—One Taxpayer at a Time
How This Fellowship Lets Social Justice Leaders Explore Bold Ideas
Child poverty, racial injustice, economic oppression of trans people and police misconduct. These are just some of the deeply entrenched problems that the current cohort of Rosenberg Foundation Leading Edge fellows plan to tackle. The Leading Edge … [Read more...] about How This Fellowship Lets Social Justice Leaders Explore Bold Ideas
Financial Sector Oversight Is Crucial to Tackling Inequality. So Where Is Philanthropy?
Remember the GameStop short squeeze? It’s easy to forget after months and months of a crisis-laden news cycle and endless internecine bickering in Washington. But back in January, just as a newly inaugurated President Joe Biden prepared to launch his … [Read more...] about Financial Sector Oversight Is Crucial to Tackling Inequality. So Where Is Philanthropy?
Why Do Big Tech Givers Like Guaranteed Income So Much—and Is That a Good Thing?
Back in 2019, when we first wrote about the Economic Security Project and its guaranteed income advocacy, the big question was whether such a “radical” policy would ever enter the political mainstream. Now, in a very real sense, it has. One component … [Read more...] about Why Do Big Tech Givers Like Guaranteed Income So Much—and Is That a Good Thing?
How Boston Ujima Project Is Building Community Wealth and Challenging Funding Norms
In 2019, we profiled the Boston Ujima Project, which uses a unique combination of investments and philanthropy in its efforts to build a community-oriented economy that serves the needs of people of color.At the time, the project, which formally … [Read more...] about How Boston Ujima Project Is Building Community Wealth and Challenging Funding Norms
How Nwamaka Agbo Is Leading Kataly’s Work to “Redistribute and Redefine Wealth”
As a Black woman and the daughter of African immigrants, Nwamaka Agbo brings an identity and lived experience to the role of CEO that is all too rare in philanthropy. As public scrutiny has pushed the sector to reckon with the uncomfortable truth of … [Read more...] about How Nwamaka Agbo Is Leading Kataly’s Work to “Redistribute and Redefine Wealth”
“Moving Forward.” Robert F. Smith Talks About the Future of His Philanthropy
As a Black writer covering the Wall Street donors beat, I’ve always felt there’s a giant elephant in the room: Most of the nation’s biggest winners in finance are white men.Then there’s Robert F. Smith, 58, worth $5.2 billion. I first covered his … [Read more...] about “Moving Forward.” Robert F. Smith Talks About the Future of His Philanthropy
With Billionaire Backing, 30 Mayors Rally Around Guaranteed Income
After a long wait, leaders in Congress have finally reached an accord regarding the successor to the CARES Act, which will include another round of direct aid: $600 one-time payments to individuals and a boost to unemployment payments of $300 a week. … [Read more...] about With Billionaire Backing, 30 Mayors Rally Around Guaranteed Income
Robert F. Smith’s Latest Move Supports Black CPAs as a Path to Building Generational Wealth
When we last wrote about Black billionaire and increasingly active philanthropist Robert F. Smith, he had made a $50 million gift to the Student Freedom Initiative, addressing the overwhelming student debt faced by HBCU students. The gift built upon … [Read more...] about Robert F. Smith’s Latest Move Supports Black CPAs as a Path to Building Generational Wealth
Money in People’s Pockets: How This Funder Network Confronts Economic Hardship
In an election year already marked by debate over government’s failures to support lower-income Americans, the COVID-19 pandemic has sparked frantic argument over how to apply stimulus as millions lose their livelihoods. Fiscal policy, usually the … [Read more...] about Money in People’s Pockets: How This Funder Network Confronts Economic Hardship
American Dreaming: What’s Interesting About This Foundation’s New Anti-Poverty Funding
Beneath the veneer of an economic expansion that’s been underway for over a decade, millions of Americans struggle to get by. According to research by Brookings, 44 percent of workers in the U.S. aged 18 to 64 earn low hourly wages. That’s over 53 … [Read more...] about American Dreaming: What’s Interesting About This Foundation’s New Anti-Poverty Funding
Making Amends: How Funders Can Address Slavery’s Legacy
The 400th anniversary of slavery in the U.S. came and went this summer, and it’s an apt time to remember how much of America and its economy were built on this brutal and fairly recent practice. In an article for the New York Times series “The 1619 … [Read more...] about Making Amends: How Funders Can Address Slavery’s Legacy
Equity Rebrand: How One Nonprofit Is Embracing Change and Attracting New Funders
When we last wrote about Common Future, the nonprofit had a clunkier name: the Business Alliance for Living Local Economies, or BALLE. Founded as a hub for local business networks in 2001, Common Future has changed significantly over the past several … [Read more...] about Equity Rebrand: How One Nonprofit Is Embracing Change and Attracting New Funders
Diverse Investments in U.S. and Abroad Fuel a New Push for Inclusive Mobility
What really drives sustainable, inclusive growth? And what solutions can philanthropy provide in a world where 1 percent of the population holds 45 percent of the wealth, and a digital revolution is swiftly lifting some, while sweeping others … [Read more...] about Diverse Investments in U.S. and Abroad Fuel a New Push for Inclusive Mobility
Billionaires vs. Poverty: Behind a Push to Use Data to Boost Economic Opportunity in Cities
Editor’s note: This article first appeared on November 17, 2018.The philanthropies of several of the country’s wealthiest people are teaming up to advance a data-driven approach in cities to bring economic opportunity to struggling residents. The … [Read more...] about Billionaires vs. Poverty: Behind a Push to Use Data to Boost Economic Opportunity in Cities
Leveraging Donor Dollars, a Nonprofit Clears Millions in Medical Debt for Low-Income Americans
The debt buying industry has often been lambasted for predatory behavior, but RIP Medical Debt, a nonprofit that buys and forgives medical debt for eligible recipients, presents a striking exception. In July, over 10,000 people in rural areas of … [Read more...] about Leveraging Donor Dollars, a Nonprofit Clears Millions in Medical Debt for Low-Income Americans
