Living Cities spent its formative years channeling money from big firms and foundations to community development projects. Now, to drill deeper on equity, it aims to be a “leading racial economic justice organization.” How is that going?
A new law to incentivize investments in poor communities is drawing fire as a giveaway to the rich. But despite its flaws, the act has the potential to do real good. Here’s a roadmap for what philanthropy can do to ensure that happens.
Amid a growing critique of how U.S. capitalism has concentrated wealth in ever-fewer hands, the Kendeda Fund is looking to move the idea of employee ownership from the margins to the mainstream and democratize the economy.
The New Markets Tax Credit program, which was enacted in 2000, can be leveraged by nonprofits to motivate big monetary rewards, including state-wide funds and grants from private foundations. Here’s a case study of how that works.
The 2017 tax law included the most important new program to spur urban revitalization in decades. But it’s lacking in transparency and accountability. Kresge has been working to fix that and ensure the law achieves real impact.
Concerns about gentrification are fueling fraught debates over public places at a moment of rising private grantmaking for parks and other civic amenities. The Boston Foundation is looking to expand who’s heard in these conversations.
The Investing in Opportunity Act has the potential to be a game changer for distressed communities. But that promise can only be realized if the act works as intended—a big “if.” Rockefeller is on the case, along with other funders.
T. Rowe Price, the global asset management firm, has been based in Baltimore since 1937. Lately, its philanthropic arm has been ramping up its giving and taking new, bolder approaches to tackling the city’s many problems.
Two top community foundations have recently gotten behind public-private efforts to ease the housing squeeze. And a Seattle nonprofit is crowdfunding affordable housing investments. Can this new wave of local investing move the needle?
Data is at the center of a project to design city-level economic mobility programs backed by Bloomberg, Gates, and Ballmer. But with ten cities selected and ready to develop their ideas, is this technocratic model likely to achieve lasting impact?
More community foundations are getting behind impact investing, often with housing on the agenda. Recently, the Foundation for the Carolinas has attracted major corporate backing with a fund designed to boost affordable housing in the region.
The 2017 tax law created more than 8,700 zones around the U.S. with the goal of attracting new investment to poor areas. Now, funders like Mastercard and Rockefeller are stepping up to help communities get capital flowing.
The lack of savings in underserved communities leaves vulnerable populations ill equipped to weather unexpected emergencies and achieve financial security. JPMorgan Chase recently unveiled a new $125 million effort to address this problem.
Putting $30 million into homelessness research won’t get people housed immediately. But with California poised for bolder action on this crisis, Marc and Lynne Benioff are looking to ensure that resources go to evidence-based solutions that will work.
Atlanta has the highest level of income inequality of any city in America, with nearly half of residents in its Westside area living in poverty. The SunTrust Foundation is part of a new collaboration that’s coming together to try to turn things around.
The momentum behind impact investing is being further fueled by a growing sense of urgency among funders up against large-scale equity challenges in top metro areas. The San Francisco Foundation is the latest funder looking to bring more cash to the fight.
What would a new economy that works for everyone look like? And how do you create it? The Boston Ujima Project thinks it has some answers, building a place-based investment fund that is democratically controlled by community members .
At the age of 30, Sam Polk walked away from a highly paid trading job to enter the social change arena. With help from the Kellogg Foundation and other backers, he’s building a social enterprise that’s focused on food equity and has big ambitions.
Philanthropy is a small but important part of major projects in Seattle and the Bay Area aimed at ensuring more affordable housing and providing aid to the homeless. Where can grant dollars have the most impact in taking on these daunting challenges?
Using the arts to drive equitable community development has been both a promising and frustrating proposition ever since it started gaining traction among funders roughly a decade ago. We check in on how a key leader in this space, the Kresge Foundation, sees the field evolving.
While Jeff and MacKenzie Bezos’ separation is making headlines, a slew of grants announced last fall by their Day 1 Families Fund made the couple among the nation’s largest givers for homelessness. How’s that playing out so far?
Economic development and entrepreneurship are on the forefront of many funders’ minds these days as they seek to catalyze urban growth. But some foundations are taking these goals to a whole new level to give their hometowns a boost.
The SunTrust Foundation, based in Atlanta, launched its Lighting the Way awards program in 2016 to recognize nonprofits in its market areas building financial confidence in their communities. Where are grants going?
Human service organizations don’t just apply Band-Aids to social problems. They also can drive larger change and help struggling Americans climb up the economic ladder. Or at least that’s the idea behind a Kresge Foundation initiative now in its second year.
With the housing crisis accelerating and federal support shrinking, the Orcas Island Community Foundation in Washington State is the latest local funder undertaking new work in this space—including an advocacy role.
More anti-poverty funders are looking beyond major cities to struggling rural communities. The latest example of grantmakers casting a wider net is the Communities Thrive Challenge, from the Chan Zuckerberg Initiative and Rockefeller Foundation.
Last month after a contentious campaign, San Francisoc voters approved a ballot measure to tax the city’s richest companies to help the homeless. Now one of the measure’s biggest supporters is putting millions of his own money where his mouth is.
Detroit has become a test case for philanthropy’s growing push against urban poverty. We look at how the latest philanthropists on the scene, Steve and Connie Ballmer, are approaching the city’s entrenched challenges.
With backing from Knight and other funders, Philadelphia has been engaged in a unique experiment to strengthen the city’s civic engagement ecosystem. This initiative has had to overcome a number of challenges.
Wells Fargo is the latest bank to make a big bet on urban community development, with a focus on Washington, D.C. The move comes amid multiple scandals around the bank, which badly needs some good publicity.