Now Is the Time for Philanthropy to Give More, Not Less
This week, amid global panic surrounding Covid-19, financial markets took the worst hit of any single day since 1987. Investors and portfolio managers began preparations for austerity and continued belt-tightening as governments grappled to respond to the growing crisis. Both publicly and privately, philanthropy began to wonder whether it should hold off on making grants or liquidating investments.
We will say this plainly: As markets collapse and nonprofits face drastic drops in government and private support, it is no time for philanthropy to think about cutting back. Instead, we must give more. We must give more to address the public-health crisis while continuing to fund existing social and systemic change efforts.
Source: The Chronicle of Philanthropy