Racial Equity: Closing the Wealth Gap With Loans, and Progress on Grant Making

Plus, new food bank supporters were more likely to donate on GivingTuesday, and Chan Zuckerberg Initiative gives $32 million for biomedical imaging research ADVERTISEMENT [Advertisement]( [logo] Was this newsletter forwarded to you? [Please sign up to receive your own copy.]( You’ll support our journalism and ensure that you continue to receive our emails. [Read this newsletter on the web](. FINANCE AND REVENUE [A Newly Hot Approach on Loans Seeks to Close the Racial Wealth Gap]( By Marc Gunther [image] Philanthropists and companies are pouring money and fresh ideas into community-development financial institutions. ADVERTISEMENT [Advertisement]( RESEARCH [Foundations Report Progress on Racial Justice — but Some Groups See More Support Than Others]( By Michael Theis The highest percentage of foundations had undertaken new efforts for groups that serve Blacks, the lowest to groups that serve Native Americans. YEAR-END FUNDRAISING [New Food Bank Supporters Were More Likely to Donate on GivingTuesday]( By Eden Stiffman [image] New donors gave at more than four times the rate of donors on the regular email file. GRANTS ROUNDUP [Chan Zuckerberg Initiative Gives $32 Million for Biomedical Imaging Research]( By M.J. Prest [image] Also, Raytheon Technologies has pledged $25 million for diversity, equity, and inclusion, and the Anne and Brutus Kenan Fund gave $21.5 to provide services for children and adults with neurological disorders. Paid for and Created by Independent Sector [The Digital Imperative for Nonprofits]( Whether developing a strategy to move in-person events online or mapping out a personalized digital journey for supporters, Salesforce.org has compiled a library of resources to help organizations meet the digital demands of today. Nonprofit News From Elsewhere The philanthropy started by Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, will pour $500 million into racial equity over the next five years. In an annual [update]( on the charity's work, the couple said they would assemble "a broad set of partners" to help ensure that grant-making across all of the philanthropy's focus areas takes racial justice and equity into account. A month ago, a former CZI employee filed an equal-opportunity complaint in California alleging that Black employees at the organization were paid and promoted less than their white colleagues. ([CNet]( Donations to organizations focused on women's and girls' causes grew significantly in 2017, but they remain a tiny fraction of total giving. The country's roughly 47,000 women's and girls' organizations reaped a 36 percent increase in giving, to $1.7 billion, according to new research. That amounted to 1.6 percent of overall charitable contributions. Groups dealing with reproductive health saw an especially large hike, growing by 85.2% from 2012 to 2017 and 33.7% in 2017 alone. Government grants to women's and girls' groups also rose faster than for other causes, by 34.4 percent over the five-year period. ([Barron's]( A $4.5 billion federal food-assistance program is running out of money a month early, forcing some food banks to cut distributions and leaving others with no food at all. The Farmers to Families Food Box program bought meat, dairy, and fresh produce from farmers who had lost their restaurant buyers in the pandemic and gave it to food banks, which have seen record-breaking need this year. But in four successive allocations for the program, outlays have shrunk from $1.2 billion in the spring to $500 million to cover November and December. The program expires at the end of December unless Congress can agree on a new aid bill that includes food assistance. For now, some regions, including New York's Adirondacks, received no help in the last round, and even organizations that got funding will likely run out of money before the holidays. ([Washington Post]( More News - Cities Ramp Up Efforts to Send Direct Checks After $15 Million Donation From Twitter CEO ([Washington Post]( - Inequality Flamethrower Anand Giridharadas on "Dubious" Giving and Why Billionaires Shouldn't Exist ([Business Insider]( - Trump Faithful Asked to Donate $3 Million to Buy His Boyhood Home ([New York Times]( - How 2020 Has Transformed Charitable Giving ([Los Angeles Times]( Arts and Culture - A Nonprofit That Uncovered Hundreds of Lost Works by Female Artists to Close ([Wall Street Journal]( — subscription) - Ronald Lauder Gives 91 Pieces of Major Arms and Armor to the Met, the Museum’s Most Significant Gift Since 1942. ([New York Times]( Opinion - Why We Need a Secretary of Food ([New York Times]( - Arts Funding Is Facing an Existential Crisis. To Survive, Cultural Organizations Must Change How They Frame Themselves to the Public ([artnet News]( Subscribe to the Chronicle The Chronicle of Philanthropy is dedicated to helping nonprofits care for their clients and staff, manage financial setbacks, and stay connected with donors. Please consider subscribing, so that we may continue to provide essential news, resources, and analysis to the nonprofit world. [Subscribe Today]( Editor's Picks GOVERNMENT AND REGULATION [Hewlett Commits $50 Million to New Effort to Rethink How Capitalism Should Work]( By Alex Daniels The William and Flora Hewlett Foundation said today it will spend $50 million over the next five years to help generate a new way of thinking about capitalism and the economy. OPINION [To Ride the Growing Civic Wave, Nonprofits Need to Find New Ways to Engage Supporters]( By Natalye Paquin [image] The November election and the massive civic engagement that preceded it, demonstrate the importance of deploying every asset that volunteers and donors bring to a cause. DISPATCHES [When We Return to Our Foundation Offices, Let’s Make Them Spaces Where We Collaborate With Grantees]( By Lisa Pilar Cowan [image] Our offices should inspire brainstorming and conversation, filled with music and art that shows we want to work with nonprofits to devise new approaches, not impose them. DIVERSITY, EQUITY, AND INCLUSION [Asian American Nonprofits Hope to See More Anti-Racism Money Directed Their Way]( By Alex Daniels [image] As philanthropy has boosted funding to address the nation’s legacy of anti-Black racism, advocates for Asian Americans hope the recent interest in social justice broadens to include their communities, which have also been the victims of hate. GOVERNMENT AND REGULATION [Plan to Boost Donor Payout Faces Long Odds in Congress, but Some Advocates Say the Timing Is Right]( By Alex Daniels [image] A plan to rewrite federal rules governing how quickly money from foundation endowments and donor-advised funds must be given out to charity faces long odds in a new Congress that will be busy dealing with a lengthy list of other pressing issues, according to some nonprofit leaders. Job announcement Senior Development Officer opening at Climate Central.[Visit jobs.philanthropy.com]( for more details. ADVERTISEMENT [Advertisement]( Paid for and Created by CCS Fundraising [CCS Survey Shows Improved Fundraising Trends and Evolved Donor Engagement Tactics]( Gain insights into fundraising outcomes, impacts, and evolving donor engagement tactics via CCS Fundraising’s newly released third-edition report, Fundraising Impact of COVID-19, highlighting results that indicate improved virtual solicitations. Upcoming Webinar: Tips for Successful Online Meetings With Major Donors [Join Our Webinar]( — Many wealthy Americans have recovered from the initial economic jolt of the Covid-19 crisis, and they are giving generously. But mastering online meetings with big donors during social distancing is tricky. Join us on December 10 at 2 p.m. Eastern to learn from savvy major-gift fundraisers how best to connect with wealthy supporters — and attract large donations — virtually. You'll get expert advice on tailoring meetings to each donor’s preferences, fostering meaningful conversation, and asking for a gift in a virtual or socially distanced setting. [Register today to get the early-bird rate.]( Job Opportunities [Grant Writer]( PHI [Director of Planned Giving]( Carroll University [Development Officer, Individual Giving]( American Civil Liberties Union of Maryland [Senior Development Officer]( Climate Central [Search the Chronicle's jobs database]( to view the latest jobs in higher education. 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