In the midst of a global pandemic, economic crisis and calls for reimagining our path to racial justice, funders are grappling with fundamental questions about mission and fiscal responsibility. As Farhad Ebrahimi asks us, “Are we here to support the kind of transformative change that will address the fundamental challenges in our society? Or are we here to manage our own financial holdings in perpetuity, making those resources available to social change work only as much as markets will allow?”
A growing chorus of philanthropic voices has noted that over $1 trillion is held in private foundations which are required to pay out just 5% of their assets each year. A further $120 billion is held in donor-advised funds2 (DAFs), which have no payout requirements. With so many urgent needs arising as a result of the pandemic and the growing economic instability of our nation, foundations are debating questions about whether or not legislation or voluntary increases in payout will meet the fierce urgency of the moment.
Several in the sector are beginning to question traditional spending policies which often rely on a limited set of data and outdated assumptions, and deprive foundation trustees and decision-makers of the vital opportunity to engage a range of relevant factors when making that crucial decision to increase payout.
Join some of the country’s leading thinkers as we discuss the ways that foundations can balance mission and vision with the need to ensure a lasting legacy.
- The context around calls for legislation to increase payout and the impact such legislation would have on the sector
- How foundations that are voluntarily increasing payout are re-imaging the key ingredients of spending policies
- Why foundations that maintain the 5% payout believe it is the best way to ensure that their grantee partners' work can have lasting impact
Dimple Abichandani, Executive Director, General Service Foundation
Chuck Collins, Director the Program on Inequality and the Common Good, Institute for Policy Studies
Farhad Ebrahimi, Founder, Chorus Foundation
Jacqueline Jones, President and Chief Executive Officer, Foundation for Children Development
Maria Mottola (Moderator), Executive Director, New York Foundation
All interested funders.
Registration is required by July 22nd.
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