Foundation Grants
Community Vital Signs
About Us
Two Years On, Foundations Stand By Issuing Bonds In Pandemic
Foundation: Doris Duke Charitable Foundation, MacArthur Foundation, Rockefeller Philanthropy Advisors, Bush Foundation, California Endowment, Ford Foundation, Rockefeller Foundation, Kellogg Foundation, Lilly Endowment
When the Ford Foundation took the unprecedented step in June 2020 of issuing $1 billion in debt to help stabilize other nonprofits, it delighted investors and inspired several other large foundations to follow suit.
Two years later, the foundations all stand by their decisions to take on long term debt, allowing several to essentially double the amount of their grantmaking, the AP reports.
But they also caution they are unlikely to repeat the move any time soon.
The foundations mostly issued social bonds ranging from $100 million to Ford's $1 billion.
The unusual move allowed them to increase their donations and take advantage of favorable market conditions, instead of dipping into their endowments.
As of June this year, the Ford Foundation has spent more than 90% of the funds it raised in its only bond offering, with 70% of the grants so far going to organizations led by people of color and 87% going to general support, meaning the funds could be spent any way the organizations wanted.
"It just let us put on steroids something that we wanted to do anyway," says Hilary Pennington, an executive vice president of the Ford Foundation.
Greg Ratliff, senior vice president at Rockefeller Philanthropy Advisors, says issuing bonds was an innovative use of the foundation's assets.
Read the Entire Article
Selected Foundation News
A customized collection of news from foundations from around the Web.
Atlanta Mayor Andre Dickens has released the 2024 Summer Youth Employment Program Report.The report celebrates the success of this year's program, which saw more than 5,700 young people hired across...more
Hackensack Meridian CDI Researcher Loudig Earns NJ R&D Council's Emerging Tech Award.Loudig's award was announced on the list of winners by the Research & Development Council of New Jersey on July...more
Student entrepreneurs showcase public health innovations at 2024 Pitch Competition.UNC Gillings School of Global Public Health will host the event.The event will take place at UNC-Gillings in...more
Health professionals urge the community to act and address the dangers of antimicrobial resistance.Wayne State University researchers remind our community to understand the growing issue of...more
Unlocking Global Health and Wellness with Innovative Hydration Technology: Can AmiLyfe's Breakthrough Be Better Than Water? Developed in collaboration with NASA and the University of Florida, Gatto...more
The All India Institute of Medical Sciences, New Delhi and the Indian Institute of Technology Delhi have launched a groundbreaking new collaboration.The three institutions will draw on their...more
Florida immigrants are fearful after Trump promises 'largest deportation program in history' Trump says he will use the military to enforce the mass deportation.The remark prompted the American Civil...more
"Taylor Made Freestyle" is no longer available on official platforms because Drake pulled the track.The Copyright Office's recent report on digital replicas also recognizes the importance of h See...more
School of Theatre and Dance joins West Virginia Public Theatre for "A Christmas Carol" Current Students | West Virginia University School of theatre and dance joins WVPT."AChristmas Carol" will be...more
The Mountaineer Marching Band will return to New York City for the 98th Annual Macy's Thanksgiving Day Parade on November 28.The parade received a record-breaking 28.5 million views last year.The...more
Social Entrepreneurship
Spotlight
Social Enterprise Piles Textbooks for Change
Textbooks for Change, a London-based social enterprise that has obtained the B Corporation seal for positive social and environmental impact, is seeking investors that would be helping the company expand.