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At the same time, new data compiled by the Chronicle shows that donor-advised funds are rapidly gaining ground on private foundations — and have already eclipsed them by some measures.
Philanthropists MacKenzie Scott and Michael Bloomberg were big players in the flow of cash to institutions that typically don’t raise a lot of money, according to an annual survey by the Voluntary Support of Education program at the Council for Advancement and Support of Education.
The stock market’s strength and growth in GDP mean that even with the Covid concerns upending the globe again, philanthropy is likely to grow. Inflation and decreasing confidence among the wealthiest are worrisome, however.
Attracting Latino and Black donors requires recognizing cultural giving patterns that differentiate them from most white donors. Nonprofits that take a thoughtful approach to this process have the chance to significantly expand their pool of donors.