Giving Compass' Take:

• Emily Thielmann explains the importance of pooled funds for effective giving during the confounding, rapidly changing circumstances of COVID-19.

• What are pooled funds, and how can we make sure they truly benefit communities in need during coronavirus? 

• Regardless of whether or pooled funds are a viable option, your giving is essential. Learn more here.

In the midst of a global pandemic, a major economic recession, and a rising wave of racial justice awareness and action, few could have imagined just how significant this year would be.

How can a funder prioritize when everything seems so urgent? Which strategies are most effective? What is the best way to know where funds are needed most when money is moving so quickly and last week’s biggest need may already have been met, while a new need is lying unfunded?

For funders grappling with questions like these, pooled funds may offer a good solution. As a coordinated way for donors to give through a central entity that then regrants directly to organizations, pooled funds offer several distinct benefits to donors.

One, pooled funds help money move efficiently to top organizations in an aligned manner, increasing the impact of philanthropic funding in the field and reducing duplication. Two, pooled funds often offer an added layer of accountability through the inclusion of data tracking and evaluation practices — particularly valuable for individual donors or donors without the capacity to fully integrate robust data and evaluation practices into their grantmaking. Finally, pooled funds provide a platform through which donors can connect with experts who are able to provide nuanced, field-wide strategic insights.

Pooled funds are not for everyone. Some donors prefer to stay more closely connected by giving directly to organizations. The important thing is to give, one way or another. The stakes for democracy are too high to remain on the sidelines. If you are a donor looking to give in a coordinated, collaborative, and high-impact way as the election approaches, we hope this resource will help you navigate the pooled fund options at your disposal.

Read the full article about pooled funds for effective giving by Emily Thielmann at Medium.