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The American banking system is broken, and the evidence is unmistakable. From the recent failure of one of the largest banks in the U.S. to ongoing predatory products blanketing lower-income communities, it is clear that we are at an inflection point. Bank regulators currently fall into the familiar trap of trying to fix the symptoms such as banning certain products, minor regulatory modifications without fixing the root causes of structural inequities. This results in repeated crises usually requiring taxpayer-funded bailouts but no meaningful change of the system. We must find better opportunities to address staggering losses of wealth through failures in the banking system while also building new structures that support economic equity and help build and preserve more local community wealth.
We're thrilled to share that we are expanding NCG's capacity around climate and disaster resilience. Katie Oran (she/her) has joined NCG as its first-ever Climate and Disaster Resilience Fellow playing a central role in supporting the development of regional and statewide strategies. Katie brings experience in climate adaption, disaster response, land use planning, climate justice organizing, and wildfire mitigation.
Three weeks ago, the two of us stepped into our new roles as acting Co-CEOs of Northern California Grantmakers. That was the same day the world learned we would need vigorous hand-washing and distance to protect each other and everyone in our community from a new rapidly spreading virus. A most unusual start in our roles. But, then again, these are most unusual times.
We want to extend our deepest gratitude for Alan Kwok for serving as NCG’s and Philanthropy California’s Director of Climate and Disaster Resilience for the past four years. Alan will transition to the new role of Senior Advisor beginning February 2023. Underscoring NCG’s deepening commitment to advancing equity in climate and disaster resilience, we will be growing the team, bringing on a new Climate and Disaster Resilience Director to continue the work.
The Bay Area Housing for All regional bond will unlock $20 billion dollars to build and preserve more than 72,000 deeply affordable homes across 9 Bay Area counties, meeting the urgency and scale of our housing crisis. This historic opportunity has been years in the making and along with the proposed state level constitutional amendment to lower the threshold for approval of housing bonds, has the potential to make a significant impact both regionally and statewide. How can philanthropy think big and take action to ensure everyone in the Bay Area has a home in a safe and vibrant community?
This month, President and CEO Dwayne S. Marsh has officially taken the reins from Steve Barton and Phuong Quach, senior staff who’ve served as NCG’s interim leaders for the past six months. The three took turns answering questions about the moment in which we find ourselves and the possibilities ahead. As the interview was drawing to a close, Dwayne paused to check if we were going to address race explicitly. And so, signaling the new future into which we are stepping, we did.
Formed in 2006, the Race and Equity in Philanthropy Group (REPG) brings together foundations committed to improving their ability to comprehensively promote racial equity and inclusion in their policies, practices, systems and operations. By convening representatives of foundations to exchange ideas, lessons, policies, and practices on racial equity and various aspects of diversity, equity and inclusion, REPG provides an opportunity for member foundations to improve their own approaches through peer learning.