Giving Compass' Take:
- Here are three recommendations for a trust-based philanthropy approach that engages in power-sharing and flexible funding.
- What are other donor strategies for power-sharing?
- Learn more about trust-based funding.
What is Giving Compass?
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Philanthropy is in a very different place now than it was in February of 2020.
The COVID-19 pandemic forced the sector to act in ways previously thought impossible. Endowments were tapped, grants were made without the proposal submissions, reporting requirements were lifted, general operating funds abounded, and — perhaps most importantly — funders were talking to grantees on a regular and consistent basis.
In the face of limited information and unprecedented circumstances, our grantees became indispensable sources of information about the needs and challenges of communities. Now, with vaccine distribution well under way, the question that looms over the sector is how many of these new practices will carry over into post-pandemic life.
The official website of the Trust-Based Philanthropy Project offers resources to help deepen this practice and I want to offer three basic recommendations for funders moving forward.
- Continue to engage with grantees.
- Keep the simplified approach.
- Remain flexible.
Read the full article about trust-based philanthropy by Farrah Parkes at Generocity.