Wallace Global Fund Doubles Grant Budget and Encourages Foundations to Follow

Executives from the Wallace Global Fund (WGF), an EGA Member, recently released an op-ed in the Chronicle of Philanthropy that details WGF's commitment to contributing last year's portfolio gains to grantmaking:

"Our democracy and our climate are in crisis. The nation’s activists and organizers are rising to meet this challenge with inventiveness and courage. It’s time for philanthropy to do the same.

That’s why the Wallace Global Fund will nearly double our grant budget this year, dedicating all of our portfolio gain from the last year to grant making — and none toward increasing our endowment. That will mean an additional $10 million in grants to tackle the extraordinary challenges our country and the world face.

Our sister foundations and all major donors working for social change should consider doing the same. By increasing our collective grant-making power, we could exponentially grow the power of civil society to serve as a check against undue influence of special interests over our government."

Visit the link below to read more in the post on the Chronicle of Philanthropy.