Giving Compass' Take:
- Lean funders that are part of the Exponent Philanthropy community reflect on their decisions in 2020, how they responded to COVID-19 and how to approach 2021.
- How did you change your philanthropic practices to meet the needs of 2020 and 2021?
- Read more about philanthropy in the time of COVID-19.
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2020 was an unexpectedly challenging year. The pandemic changed the nature of work, and how we interact with our boards, staff and the nonprofits in our communities.
We asked members of the Exponent Philanthropy community to reflect on COVID-19, how it affected their work in 2020, and what they foresee for 2021.
In 2020, lean funders made changes to grantmaking including:
- Converting existing grants to more flexible funds (for example, converting project grants to general operating support grants): 74%
- Making additional grants to existing grantees: 74%
- Making emergency response grants (grants outside of the foundation’s normal grant cycle, in response to the pandemic): 71%
- Making grants to organizations outside of the foundation’s existing grantee portfolio: 65%
- Delaying or postponing reporting deadlines: 65%
- Increasing payout compared to original plans: 53%
Moving into 2021, a large portion of funders (67%) plan to continue supporting grantees as they navigate the pandemic. However, many are still deciding what that looks like. Funders are keeping in mind the flexible practices adopted in 2020. And a majority will implement, or are considering implementing them in 2021:
- Converting existing grants to more flexible funds (for example, converting project grants to general operating support grants): 71%
- Delaying or postponing reporting deadlines: 54%
- Making additional grants to existing grantees: 74%
- Making grants to organizations outside of the foundation’s existing grantee portfolio: 73%
- Making emergency response grants (grants outside of the foundation’s normal grant cycle in response to the pandemic): 68%
As we move into 2021, COVID-19 will continue to affect foundations and grantees alike. Take the time to reflect on the past year—you’ve been through a lot!
- What changes did you make (big and small) in 2020?
- What did you do in 2020 to better support your grantees?
- What worked well?
- What didn’t?
- What can you continue in 2021 and beyond?
Read the full article about lean funders by Brendan McCormick at Exponent Philanthropy.