From The Center for Effective Philanthropy: “Despite the urgency of climate change and the narrowing window for action, philanthropic funding to address climate change remains very limited. Total philanthropic giving by foundations and individuals focused on climate change mitigation represents less than two percent of total global philanthropic giving, according to the ClimateWorks Foundation. While there is some evidence of increased momentum in recent years, more action will be needed to match the scale of the climate crisis.”

They surveyed 188 foundation leaders, and 120 nonprofit leaders in order to answer the questions:

How pressing is climate change from the perspective of foundation and nonprofit leaders?
What are nonprofits and foundation leaders doing to address climate change?
How are leaders of organizations that do not focus on climate change thinking about this issue and to what extent are these leaders currently addressing it?
How are climate-focused organizations approaching their work?

Read the full report here.

“In recent years, eye-catching demonstrations by artists have thrown major gifts from “tainted” sources into sharp relief, suggesting museums themselves should be mindful of how they make their money. In the wake of the Black Lives Matter protests, museums made strong public commitments to the values of diversity, equity, and inclusion—but two years later museum workers have questioned whether actions reflect words,” said co-authors Laura Callanan (Upstart Co-Lab) and Maxwell L. Anderson (Souls Grown Deep). “One way that museums can strengthen their reputations and follow through on their public declarations is by aligning the billions of dollars in their endowments with their values and missions.”

“A recent survey of independent museums of art and design in the US—published this week by Upstart Co-Lab, the Association of Art Museum Directors and the Black Trustee Alliance for Art Museums—sheds light on this disparity, finding that just 13 percent of museums are engaged in impact investing, compared to 47 percent of colleges and universities and 51 percent of foundations.”

“What’s more, the study revealed that issues often cited as barriers to museums getting involved with impact investing have already been solved: the capacity to measure impact, the availability of quality impact investing products across all asset classes and the ability to achieve market-rate financial returns. In fact, a Morningstar report found that sustainable funds outperformed peers in 2021.”

“As also evidenced by the survey results, investment committees and leadership teams tend to drive the conversation around impact investing at the museums leading their peers. But everyone committed to the future of America’s art museums can play a part in shifting museums’ endowments to impact investing.”

Read the full article here.

“Just as no two artists are alike, every arts community is defined by a distinct matrix of identities, perspectives, histories, and economic conditions,” said former GIA board chair Ted Russell, and Lu Zhang. “In order to be successful at any level, arts funding must respond to these conditions. This is why our organizations teamed up to create The Rainin Fellowship, a program tailored for the arts communities of San Francisco’s Bay Area (the home of the Kenneth Rainin Foundation), developed alongside United States Artists, which has supported artists across the country for nearly 20 years.”

“By supporting anchor artists, the Rainin Fellowship aligns with and preserves this unique history, which is just another thing we risk losing if artists are not properly supported. At every moment in our history, the arts and artists have played an integral role in these social movements, including the Berkeley Free Speech Movement and the American Indian Power Movement. But in a time of crisis, stoked by forces of displacement, gentrification, and inflation that are pushing out the constituents of these social movements, the urgency of our challenge becomes clear: How to preserve our communities, and culture, and how to do it swiftly, and sustainably? One answer, we have found, is to support the artists at the centers of these movements, allowing them to keep making work in their communities.”

“From audience engagement to storytelling, institutional critique to social activism, the 2022 Fellows represent various ways that artists affect their communities far beyond what was once considered to be the role of art. This fellowship structure of direct support matched with additional stipends aimed at supporting artists holistically, works for the Bay Area community, but can also be replicated in other communities across the country. And that’s the moment this becomes a national model.”

Read the full article here.