Giving Compass’ Take:
• Here is a list of approaches from foundation leaders that exemplify both flexible and transparent behaviors needed to address the COVID-19 pandemic.
• How can individual funders demonstrate flexibility in supporting the needs of vulnerable populations during COVID-19?
• Read more on what donors can do about coronavirus.
In a week’s time, life has changed in unimaginable ways as a result of the coronavirus (COVID-19) outbreak. Predictable routines of work and school have been upended as we “shelter in place” and shift work to home offices shared in many cases with spouses and newly homeschooled children. Meanwhile local services and businesses have limited hours or are completely shuttered.
Nonprofits on the front lines of serving vulnerable communities and addressing new needs stemming from the magnitude of this public health and economic crisis will be tested in unexpected ways. All while adjusting budgets to a reality in which fundraising galas, revenue-generating programs, and conferences have come to a grinding halt. In such a perfect storm of calamity, philanthropic institutions must also depart from business as usual to continue to be effective community partners.
As a result, there is a growing recognition that foundations must be accessible and flexible to mount an effective response.
The following approaches illustrate the different ways in which some foundation leaders have announced that they are adapting to this new reality:
- Grant flexibility on adjusting grant goals, payments, and reporting deadlines
- Willingness to repurpose funds intended for conferences and convenings
- Assurances around foundation finances and ability to meet existing grant commitments and sustain budgeted grantmaking levels
- Establishment of new response funds to address the crisis
- Keeping equity and vulnerable populations in mind
- Pointing to relevant information and knowledge the foundation has collected
- Open invitations for ideas and suggestions about how the foundation can be most helpful
Read the full article about being a flexible and transparent foundation by Janet Camarena at PEAK Grantmaking.
Philanthropy is a complex topic, and others found these selections from the Impact Giving archive from Giving Compass to be good resources.
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