The University of Chicago's Urban America Forward initiative has won support from a range of funders—including corporate backers. It's now offering grants on a thorny issue: racial wealth disparities.
Well out of the political mainstream, the idea of a basic income is intriguing to some funders who are worried about inequality and also keen to put a bureaucratic welfare state out of business.
The mix of funders worried about America's vast gaps by race in wealth and income is getting more diverse and interesting. That said, we're not surprised to see who's writing some of the biggest checks.
While foundations have played a key role in supporting community development financial institutions, their biggest money comes from banks like BofA. Is that a problem?
Banks are playing a bigger role in community development for a variety of reasons. Among them: to comply with agreements reached with the Department of Justice. Just look at a recent spate of grants.
In 2013, the MetLife Foundation made a $200 million commitment to advance global financial inclusion. With $100 million left to move, where is the money going?
SunTrust is yet another bank that engaged in malfeasance during the housing bubble and is now focusing its philanthropy on financial literacy and inclusion. Ironic, right?
Despite talk of more risk-taking and big bets, lots of individual donors still play it safe. We look at a couple that isn't by investing in a public-private effort to change kids' lives in NYC.
In the places where entrepreneurs most desperately need capital, it's often in short supply. CDFIs work to change that, and some deep-pocketed funders have an eye out for lenders doing the best job.