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Over the next 20 years in the U.S., $35–70 trillion in wealth will transfer from one generation to another in the largest generational wealth transfer in history, mostly moving within wealthy white families. The policies that make possible this protection and accumulation of wealth are situated within the legacy of land theft, genocide of Native people, enslavement of Black people, and exploitation of natural resources. This context of racial capitalism has also given rise to wealth accumulation that, in part, birthed the philanthropic sector. Paradoxically, many of us working within philanthropy aim to contribute to changes in systems, structures, and outcomes that address the harms of interconnected systems like racial capitalism that favor some at the expense of others and the planet.
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.
November’s presidential election results will have pulled the United States back from the brink of authoritarianism. After we’ve taken a moment to celebrate our achievement and rejuvenate, there comes the challenge of plotting a course forward. Because there’s no going back to some imagined normalcy. Many consequences of Trump’s presidency – cult of strongman personality, capture and erosion of the courts and other democratic institutions, normalization of misogyny and white nationalism, consolidation of Christian Right power, mobilization of vigilantes, enrichment of oligarchs, rise of a media disinformation infrastructure – will not be so easily undone.
Although the missions, strategies, and goals of our foundations are different, we share the belief that the grant application process should be simpler, and it is our responsibility as funders to reduce the burdens we place on grantseekers wherever we can. That is what our newly launched Common Application for the Arts is all about.
In this three-part series, California Criminal Justice Funders Group (CCJFG) funder-members will come together to discuss and identify funding strategies that support alternatives to the Prison Industrial Complex (PIC), including investing in community-led models that address lasting alternatives to punishment and imprisonment. We will learn about concrete funding strategies, hear from movement leaders, highlight CCJFG members’ work, and share practical strategies for supporting work that reimagines different models of community safety and justice.
The magnitude of the current social context requires us to recalibrate and accelerate change. NCG works to engage with members so for philanthropy can make the most of its influence. You can engage with us in the following ways:
On December 20, 2022, a 6.4 magnitude earthquake hit rural Humboldt County in the early morning, followed by over 60 substantial aftershocks.