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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.
This is not the New Year’s message I was hoping to write. There was a moment this fall when things started feeling like they might just fall into place. We saw progress on the pandemic, and it felt like 2022 might herald a fresh beginning. But reality intervened, as it tends to do.
I’ll confess – the other day it was a bit hard to get out of bed and start the day. It was the middle of the week, a pile of Zoom meetings awaited, and the covers felt especially fresh and comfy.
Recently, Northern California Grantmakers and philanthropic research and strategy firm Open Impact released Get it Right: 5 Shifts Philanthropy Must Make Towards an Equitable Region, a report funded by the David and Lucile Packard Foundation. The report outlines what we need from decision-makers in philanthropy – board members, trustees, high net worth individuals, CEOs, and executive directors –to listen to communities, catch up to the moment, and align grantmaking support.
In philanthropy, how do we steward resources back to the lands and communities that have experienced historical inequities? While it will not undo centuries of harm, it is a first step toward repair. NCG recognizes that we must move beyond optical land acknowledgments into tangible action. What does it mean to move towards right relationships with Indigenous communities? We are figuring it out.
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
NCG's public policy work has had some extra support this summer. We welcomed Arnold Dimas (he/him) a second-year Master of Public Health student at UCLA, to the team as a policy intern.