Giving Compass’ Take:
• Economic Opportunity Funders (EOF) helps increase public support for state EITCs through the EITC Pooled Fund. It allows donors a way to collaboratively deploy capital to families in need.
• What are the benefits of pooled funds?
• Read about the benefits of collaborative philanthropy.
One of the key challenges and opportunities that philanthropy serving organizations face as we help funders distill ideas, seed innovation, and demonstrate impact is managing and leading effective collaborations. This includes making connections among funders pursuing similar objectives or working in similar regions as well as supporting the coordination and alignment of investments around identified areas of interest.
Since 2011, Economic Opportunity Funders (EOF) has been working to increase public support for state EITCs through the EITC Pooled Fund (The Fund). We provide a table around which multiple funders can align support to work on an area of mutual interest, and a mechanism by which funders can quickly and collaboratively deploy funding to help meet the needs of the field. Coordinated efforts, like The Fund, are critical for taking advantage of limited foundation resources to leverage greater public, private, and philanthropic investment to improve the economic well-being of working families and children struggling to make ends meet.
Three funds are offered to support efforts to protect, expand, and create new state EITCs:
- Rapid Response: The EITC Rapid Response Fund (RRF) was established in 2012 and focuses on quick infusions of support to help an existing effort overcome a communications challenge or opportunity.
- Policy Development: In 2015, Fund leaders established the EITC Policy Development Fund (PDF) to provide multiyear support to state-based policy groups laying the groundwork to develop or improve state EITCs.
- Campaign: Rapid Response awardees engage in a wide variety of strategies to raise awareness of the importance of strong state EITCs, not all suited to the short timeframe the RRF supports.
Read the full article about EITC pooled funds by Ami Nagle at Grantmakers In Health.
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