Giving Compass’ Take:
• Data from Exponent Philanthropy highlights that funder communities are pivoting strategies to respond to COVID-19 by engaging in flexible funding practices and increasing budgets.
• Will this become a trend as more organizations will continue to need support during and after COVID-19?
• Here is a toolkit for donors that includes guidance on how to respond to the pandemic.
In April, Exponent Philanthropy fielded a survey to learn how our community is responding to COVID-19, and more than 900 lean funders responded. We’re still analyzing the data and further engaging respondents, but we want to share a high-level overview.
Have lean funders changed their funding in response to COVID-19?
In a word, yes.
Nearly 80% of lean funders have changed their approach to funding as a result of COVID-19. Of those who have not, almost 20% plan to change their approach in the next year.
Are funders giving more this year?
About half of survey respondents say they’ll give more this year because of the pandemic.
Of the foundations that plan to increase their giving:
- 5% will give a certain dollar amount more
- 8% will increase the foundation’s overall payout
- 4% will increase the foundation’s grant budget by a certain percentage
Are funders shifting strategies in response to COVID-19?
Many lean funders are shifting some of their funding to support new populations. The majority of respondents (53%) are working to support individuals who have been economically affected by COVID-19. And almost 42% of lean funders are making grants to nonprofits outside their typical portfolio.
Read the full article about how funders are shifting gears to address COVID-19 by Brendan McCormick at Exponent Philanthropy.
Since you are interested in North America, have you read these selections from Giving Compass related to impact giving and North America?
Looking for a way to get involved?
A good way to complement your interest in COVID-19 is to connect with others. Check out these events, galas, conferences or volunteering opportunities related to COVID-19.
Are you ready to give?
If you are interested in COVID-19, please see these relevant Issue Funds, Charitable Organizations or Projects where you can get involved.