90% of Wealthy Households Gave to Charity Last Year, Study Finds

Plus, a new effort urges the rich to support charities that strengthen democracy, and fighting falsehoods must be at the center of nonprofit and foundation work (opinion) 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](. INDIVIDUAL GIVING [90% of Wealthy Households Gave to Charity Last Year, Study Finds]( By Dan Parks Three-fourths of rich donors don’t expect the pandemic to significantly change their giving patterns going forward. ADVERTISEMENT [Advertisement]( INDIVIDUAL GIVING [New Effort Seeks to Get 500 Wealthy Americans to Give at Least 1% of Net Worth to Charities That Strengthen Democracy]( By Michael Theis [image] The goal is to raise at least $360 million by 2024, with $89 million already committed. OPINION [Fighting Falsehoods Must Be at the Center of All That Nonprofits and Foundations Do]( By Jen Soriano , Hermelinda Cortés , and Joseph Phelan [image] As lies and disinformation increasingly threaten the work of nonprofits, they should incorporate tools that will help dismantle falsehoods and replace them with accurate and more emotionally compelling narratives. GRANTS ROUNDUP [Joyce Foundation Commits $250 Million for Economic and Racial Equity in the Great Lakes Region]( By M.J. Prest [image] Also, Google and Comcast NBCUniversal have pledged millions in grants in honor of Asian American and Pacific Islander Heritage Month. Paid for and Created by GolfStatus.org [Nonprofits Use Technology to Leverage Golf Fundraisers amid Pandemic]( Building and expanding donor databases for future asks, learn how GolfStatus.org’s event management technology is positioning nonprofits to advance their existing partnerships and garnering additional corporate support. Nonprofit News From Elsewhere Los Angeles's arts scene will emerge from the pandemic at a time when it could be harder to raise funds than it was before the shutdown. Finding donors in the city has long been difficult. In the past, major benefactors such as Eli Broad and David Geffen stepped forward to save struggling campaigns, but Broad recently died, and Geffen is 78. Compounding the challenge will be competition for donations from social- and racial-justice organizations. And as difficult as the major organizations might find raising funds, some smaller arts groups could even go under. “We see a lot of the arts, especially the performing arts, as being the last to recover,” said Kristin Sakoda, the director of the Los Angeles County Department of Arts and Culture. ([New York Times]( The story of a major cryptocurrency donation gone sideways for India relief is a look at a murky new world that charities will increasingly have to navigate. When Vitalik Buterin announced that he had given nonprofits $1 billion worth of Shiba Inu coin, along with $500 million in Ether, a more stable cryptocoin he founded, the value of Shiba Inu coin plunged by about 40 percent. That's because Buterin held half of the relatively new virtual currency, and his contribution could have looked like dumping, leading other holders into panic selling. One of the recipients, India Covid-Crypto Relief, therefore, had significantly less money than when Buterin made the contribution, and it reassured Shiba Inu holders that it would do nothing to further depress the coin's value. The episode raises questions about the worth and liquidity of such donations that will become more pressing as more people use virtual currency and as the cryptocoin field mints more billionaire philanthropists. ([Vox]( More News - Nurses, Nonprofits, Others Take Vaccine to Homebound People ([Associated Press]( - South African Indigenous Group Asks MacKenzie Scott to Save 'Sacred' Land From Amazon Development ([Independent Online]( - Nonprofit Leadership Is Becoming More Diverse in Boston. What Took So Long? ([WGBH]( - Untrusted: St. Louis Education Nonprofit, the Opportunity Trust, Has Plenty of Skeptics ([St. Louis Public Radio]( - How a Billionaire Family's Tragedy Inspired a New Era for Mental Health at UCSF ([San Francisco Business Times]( - Colleges Pushed Anew for Reparations for Slavery and Racism ([Associated Press]( - With Bankruptcy Tossed, What's Next for the NRA? ([Associated Press]( Opinion - The NRA Keeps Shooting Itself in the Foot ([Los Angeles Times]( - Philanthropists and Billionaires Must Walk the Talk on Climate Change ([Hill]( - If U.S. Museums Say Black Lives Matter, Then They Should Return Africa’s Stolen Art ([Washington Post]( How to Inspire Loyalty Among Major Donors [Join our webinar]( — America’s wealthiest donors gave a total of $24.7 billion last year to help charities address Covid-19 and racial injustice, while nonprofits that tackle hunger, homelessness, and other issues related to poverty received far more from philanthropists than ever before. But attracting gifts from big donors is competitive in the best of times, and the events of the past year upended nearly everything about major-gift fundraising. How can your nonprofit cultivate wealthy supporters — and secure large gifts — during times like these? Join us Thursday, May 20, at 2 p.m. to learn from savvy big-gift fundraisers about what is working — and what is not — in the new normal. Earl Granger III, head of development at the Colonial Williamsburg Foundation, and Princess Gamble, fundraising executive at the Smithsonian Institution, will share fresh and creative ways to connect with high-net-worth donors, convey impact, and deepen ties despite social distancing. Both experts will draw on years of big-gift fundraising experience. In previous roles, Gamble helped lead the National Museum of African American History and Culture's $350 million capital campaign, and Granger successfully led a $1 billion campaign at William & Mary. [Register today]( and then join us on May 20 to learn from two fundraising leaders. Editor's Picks OPINION [Low Pay and Poor Working Conditions Forced a Vital Nonprofit to Shut Down. I Was Complicit in Its Demise.]( By Lisa Ranghelli Blinded by my class and race privilege, it never occurred to me to probe the organization’s salary structure more closely and provide the support its leaders needed to continue their important work. GIVING RESEARCH [Charitable Giving Expected to Return to Pre-Pandemic Patterns in 2021]( By Michael Theis [image] Human-service charities whose programs were in high demand in 2020 may chart declines in year-over-year revenue in 2021, according to a new report. OPINION [Increased AmeriCorps Funding Opens Door for More Philanthropic Investment in Service Opportunities]( By Tyra A. Mariani [image] By combining philanthropic dollars with funds from AmeriCorps and state governments, philanthropy can play a pivotal role in boosting national service. To encourage grant makers to join in this work, the Schultz Family Foundation today is launching a $1 million challenge to match grants of $100,000 to $250,000 to AmeriCorps state service commissions that are working with philanthropy to expand national service. FINANCE AND REVENUE [How a Big Nonprofit Decided to Keep Tapping Into Its Endowment in the Pandemic]( By Dan Parks [image] The UJA-Federation of New York moved quickly to tap into funds that had been set aside to generate long-term investment income. It has done that six times and plans to keep doing so — even though its approach goes against what many other organizations decided to do. FUNDRAISING LEADERSHIP [How to Recognize and Prevent ‘Bottom-Line Mentality’ in Fundraising]( By Nazifa Zaman [image] It can occur when professionals become so focused on a job-related goal that they neglect other important goals or aspects of their lives. Job announcement Long-Term Support Trust Specialist - Independence Services at Wounded Warrior Project.[Visit jobs.philanthropy.com]( for more details. ADVERTISEMENT [Advertisement]( Paid for and Created by Regions Bank [A Mission of Impact]( Reassessing long-term investment strategy along with an increased focus on nonprofit sustainability, learn how Regions Bank is helping nonprofits recover, rethink and reposition themselves for a more stable future. 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. 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