The Foundation for Black Communities will be responsible for managing a $200 million philanthropic endowment in support of Black communities in Canada over the next decade and beyond. How they choose to invest, steward, and distribute the fund will have significant impacts for Black-led philanthropy and Black communities in Canada.
The disbursement quota governs the amount of money foundations must spend on charitable activities and flow to communities each year. The raise in the rate will mean more money for community service organizations moving forward.
The financial markets have bruised many foundation’s endowments this year. So too, however, have many charities and non-profits been feeling the pinch with increased inflation and service demands. The rate at which foundations keep giving will impact how community organizations are able to support their communities.
Many people have the urge to help their fellow citizens over the winter holiday season. Thoughtful, well-informed donations can go a long way to assisting community serving organizations meet their clients’ needs, while unwanted items create a burden for service providers, however well intended.
Caregivers, both paid and unpaid, support some of the most vulnerable and marginalized communities in Canada. As 69 per cent of caregivers reported deteriorating mental health last year, a collapse of the formal and informal caregiving system would be catastrophic for communities across the country.
Higher costs means funding promised to social purpose organizations doesn’t go as far as it once did. Indexing grants to inflation is one way of helping charities and other non-profits protect programming, retain staff and continue to serve the community.
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