McKellogg Poverty Q6
Philanthropic organizations should support evidence-based, replicable program models, like employment social enterprise, that provide jobs, income, training and a path to economic mobility for individuals with extremely low incomes. Philanthropic organizations should consider using a portion of their endowments for social impact investing to provide growth capital to social entrepreneurs that are testing innovative approaches to poverty reduction. And philanthropic organizations should assess their own labor and procurement practices to ensure that they meet the highest standards for providing ‘good jobs’ to all who work for their organizations, and the companies in their supply chain.
Philanthropy, like government, should acknowledge the full cost of non-profit service providers and consider expanding general operating support and reducing more restrictive forms of funding in exchange for greater impact. Finally, one of the most pressing challenges right now in philanthropy is diversifying leadership and board representation. The inaugural Diversity Among Philanthropic Professionals Survey by the Funders for LGBTQ Issues is groundbreaking and shines a light on the demographics of the philanthropic workforce and how greater diversity, equity, and inclusion in the philanthropic community is tied to greater impact.