Major Grant Makers Call for More Support of Black Feminists

Plus, Fidelity Investments taps a new head of social impact, and a philosopher explains effective altruism ADVERTISEMENT [Philanthropy Today Logo]( Did someone forward you this newsletter? [Sign up free]( to receive your own copy. You can now follow The Chronicle on [Flipboard]( and [Google News](. DIVERSITY, EQUITY, AND INCLUSION [Major Funders Call for Increased Support of Black Feminists]( By Glenn Gamboa, AP Business Writer [STORY IMAGE]( The open letter, from the Melinda Gates’a Pivotal Ventures, Rihanna’s Clara Lionel Foundation, and the Ford Foundation and MacArthur foundations is intended to encourage others to support historically underfunded groups. ADVERTISEMENT TRANSITIONS [Fidelity Investments Taps New Head of Social Impact]( By M.J. Prest [STORY IMAGE]( Also, the Democratizing Philanthropy Project announces its first executive director, and Steve Waldman, the co-founder of Report for America, will now lead the Rebuild Local News Coalition. INDIVIDUAL GIVING [What’s Effective Altruism? A Philosopher Explains]( By Jacob Bauer [STORY IMAGE]( Effective altruism has gained traction and mobilized tens of billions of dollars, in part because of its popularity among some extremely wealthy donors. Webinars [Fundraising Events in 2023: How to Plan and What to Know]( [STORY IMAGE]( Join Our Next Webinar — Fundraisers planning events have a lot to juggle: keeping people safe from illness, entertained, and inspired — while staying within budget as expenses rise. How can you plan a successful event this year — and maximize results — amid uncertainty? Join us Thursday, February 9, at 2 p.m. Eastern for actionable advice and real-world examples from two experts. They’ll share proven ways to build community, raise more money, and create a plan that can be adapted if circumstances change. [Register Today.]( Nonprofit News From Elsewhere Online A nonprofit coalition of groups representing thousands of local newsrooms has launched an effort to save imperiled local news outlets. Rebuild Local News will lobby for policies, such as tax credits for news organizations and incentives for subscribers, and create model legislation for the national, state, and local levels. It includes professional associations, journalism-support nonprofits, and foundations, including Ford, Knight, and MacArthur. Rebuild has so far raised $1 million from philanthropies. Led by Report for America co-founder Steven Waldman, it aims to funnel $3 billion to $5 billion to local newsrooms, raised via “philanthropy, business initiatives, and government proposals.” A fraction of that sum would be enough to double the number of local journalists, the coalition says. ([Axios]( More News - Fine Arts Foundation Cuts Ties With Brevard County, Fla., Public Schools, Citing Actions by Conservative School Board Chairman ([Florida Today]( - LA Nonprofit Takes Out Full-Page Ad in the LA Times to Refute Skid Row Inquiry by Newspaper ([Wrap]( - With Pierogies and Artillery Shells, Scranton Fights Back in Ukraine ([New York Times]( - Former Pastor of Fla. Megachurch Claims It Backed out of Deal to Pay $48 Million to His Nonprofit ([Christian Post]( - FTX Owes Money to Apple, Google, Netflix, Yahoo, and Gisele Bündchen’s Charity ([Fortune]( - House GOP Chairman Presses USAID on Grant to Terror-Linked Nonprofit ([National Review]( Nonprofit Innovation - A Platform That Began as a ‘Wedding Registry For Aid’ Goes Global ([Devex]( - How a Prison-Turned-Pot-Farm Is Helping Those Behind Bars for Cannabis Crimes ([Los Angeles Times]( - If You Want to Live in This N.Y. Housing, You’ll Have to Audition ([New York Times]( - Little Free Library Launches Indigenous Library Program ([Publishers Weekly]( - What Happens When 100 Houston Women Band Together? Powerful Charity ([Houston Chronicle]( Arts and Culture - Leader of Rauschenberg Foundation to Leave After 5 Years ([ARTnews]( - Lloyd Morrisett, a Founder of ‘Sesame Street,’ Dies at 93 ([New York Times]( SUBSCRIBE TO THE CHRONICLE Enjoying the newsletter? [Subscribe today]( for unlimited access to nonprofit news and analysis. EDITOR'S PICKS FOUNDATION GIVING [A Family Fund’s Response to the Racial Reckoning: Give All Its Assets to One Black-Focused Nonprofit]( By Alex Daniels [STORY IMAGE]( A Baltimore foundation gave nearly all of its $1 million in assets to resuscitate a nonprofit newspaper. Its goal: to put the money in the hands of a Black-led charity and counter the idea it’s enough just to give to racial-equity organizations OPINION [Charities Too Often Mislead With Impressive-Sounding Data. Donors Must Learn to See Past the Facade.]( By Robin Pierro [STORY IMAGE]( Relying on simple metrics to demonstrate a nonprofit’s effectiveness to potential donors creates a false narrative about how sustainable change happens. OPINION [End the Charitable Tax Exemption and Remove the Conflict of Interest Baked Into Big Philanthropy]( By Jeffrey Cain [STORY IMAGE]( At a time of growing distrust in philanthropy and stagnant or declining giving, it’s no longer tenable to maintain a system that allows donors to reap rewards through the nonprofits they fund. OPINION [Jeff Bezos Says Giving Is Hard. That Trope Goes Back to Andrew Carnegie]( By Benjamin Soskis [STORY IMAGE]( When invoked too zealously, it can deflect attention from what grantee leaders often find most difficult about philanthropy: a lack of urgency, a failure to deliver resources expeditiously, and the imposition of burdensome restrictions. ECONOMIC OUTLOOK [Nonprofits Enter 2023 With Inflation Cooling and Job Market Still Strong]( By Sara Herschander [STORY IMAGE]( Organizations are seeking loans and taking other steps to help keep workers, and those who are trying to build or renovate facilities are facing high borrowing costs. Meanwhile, foundation assets have been hit hard, so it might be tougher for nonprofits to obtain grants in the coming year or two. ADVERTISEMENT RECOMMENDED WEBINAR [Watch Our Webinar]( — Fundraisers planning events have a lot to juggle this year: keeping people safe from illness, entertained, and inspired — all while staying within budget as expenses rise. How can you plan a successful fundraising event this year — and maximize results — amid uncertainty? Join us for a 75-minute webinar on Thursday, February 9, at 2 p.m. Eastern as two successful executives share actionable advice and real-world examples of what's working now. Whether you’re planning in-person galas, small gatherings, or virtual events, our expert guests will share proven ways to build community — and raise more money at your next event. Plus, they'll highlight ways to create a flexible plan that can be adapted if circumstances change. 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