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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.
CCJFG is creating a three-part podcast, Funding the Yes and we are proud to share the first episode with you! Funding the Yes asks the question: What does funding the yes look like within intersectional aspects of social and racial justice movements? Through conversations amongst funders and movement partners, we focus on strategies to fund building a more just future for our communities and ending systems of injustice. Each episode is co-created by CCJFG members and movement partners.
This month, NCG's Collaborative Philanthropy Coordinator, Krystle Chipman, sat down with the Loan Underwriter of the Arts Loan Fund and Principal of Padma Consulting, Margaret Southerland. Margaret shared why she believes the Arts Loan Fund (ALF) can be a game changer for arts nonprofits in the region.
These past months, we've found ourselves returning to the same question: are our plans still serving their purpose or is there a greater opportunity made possible by the crises in which we find ourselves? We asked NCG's board, staff, and membership to weigh-in on how they're balancing this question. We'll publish their reflections in the months to come in this series on persistence and adaptivity. Glen Galaich of the Stupski Foundation kicks us off with insights, confessions from his consulting years, and a look at what he’s paying special attention to right now
The Libra Foundation is a family foundation dedicated to funding grassroots justice movements led by and for marginalized communities of color. The Libra Foundation’s guiding principle is that those who are closest to the issues understand those issues best. Impacted communities are not only the most equipped to build solutions, they are the most effective at implementing those solutions. We fund frontline organizations led by and for Black, Indigenous, People of Color (BIPOC) transforming the criminal justice system and advancing environmental and climate justice and gender justice.
Genuine, local-level engagement between public agencies and the communities they serve is crucial to meeting the needs and priorities of people experiencing health inequities, particularly communities of color and low-income people. Public agencies often ask their communities for input, which results in low participation and feedback, perpetuating the inequitable status quo. How can public agencies re-think their community engagement practices, prioritizing people historically excluded from access to power and decision-making? And what is the role of philanthropy in this work?
In Get It Right: 5 Shifts Philanthropy Must Make Toward an Equitable Region, we've highlighted 5 case studies from regional leaders who are already doing this work. Read about how the Libra Foundation, Tipping Point, Latino Community Foundation, San Francisco Foundation, Community Foundation of Santa Cruz County, and Silicon Valley Community Foundation are creating donor collaboratives to leverage more capital.