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First, let’s get honest about the historical context we are operating in. Philanthropy exists as a result of capitalism and was formed through centuries of slavery, colonization, and displacement. The systems are designed to extract resources, privatize wealth, and centralize power and control of said resources. The systems are successfully doing exactly what they have been designed to do.
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.
One of the things I love about being President of NCG is how powerfully I am reminded of the privilege and responsibility of the position. Leading the organization whose charge it is to strengthen philanthropic practice in Northern California has never had more meaning than it does today.
Mission Investors Exchange (MIE), in partnership with National Center for Family Philanthropy, Northern California Grantmakers, and SoCal Grantmakers, is pleased to offer its signature introductory learning program. Through both virtual sessions and a two-day experience at The California Endowment in Los Angeles, California, our Institute helps philanthropy professionals get started in impact investing or advance their practice. Participants learn from leading impact investing professionals, network with industry peers, and apply learnings with fellow philanthropy and finance professionals.
Recently, Dwayne Marsh, CEO of Northern California Grantmakers, and I were reflecting on how many foundations in our memberships are looking to change direction and move toward racial equity. In an ice-bucket-style challenge, Dwayne posted his thoughts and then tagged me with the question, “How best does philanthropy choose courage in the face of the unprecedented complexity the moment offers?"
In 2020, we witnessed philanthropy make major commitments and promises to resource Black-led organizations and movements as part of a renewed reckoning with racial justice after the murders of George Floyd, Breonna Taylor, and countless other Black lives. Historically, Black-led power-building efforts have been at the forefront of transformative change but have been consistently underfunded and under-resourced. The sudden surge in resources allocated to Black-led nonprofits and power-building organizations over the last four years highlights the urgent need to invest in the leadership and visionary ideas for dismantling systemic racism and advancing an inclusive, multiracial democracy. Now, the question remains whether the investments so far are truly sufficient to provide long-term support for Black power-building organizations and their vital work.
A coalition of non-profit, philanthropic, business, and public sector partners are working to advance a regional bond that could unlock billions of dollars for the construction and preservation of affordable homes across 9 Bay Area counties at an unprecedented scale in the region.