Facing economic recession, progressive nonprofits need to stimulate independent revenue generation so they can continue to provide and advocate for our social safety net.
Why are progressive nonprofits specifically at risk during this recession?
Many nonprofits depend heavily on grants from federal, state, and local governments or foundations, which means most of their revenue is restricted for specific purposes. This means that nonprofits have little funding to test new revenue-generation ideas or expand what’s working.
Why are progressive nonprofits specifically at risk during this recession?
Historically, groups doing ongoing civic engagement work see their fundraising spike in election years, and fall sharply during off-years like 2021-2022.
Why are progressive nonprofits specifically at risk during this recession?
Candid data shows a significant drop in funding for financial sustainability and fundraising during and after the Great Recession. These investments are critical to helping groups learn new approaches to earning money and raising it; sustainability doesn’t happen without startup support.
Facing economic recession, progressive nonprofits need to stimulate independent revenue generation so they can continue to provide and advocate for our social safety net.
Why are progressive nonprofits specifically at risk during this recession?
Many nonprofits depend heavily on grants from federal, state, and local governments or foundations, which means most of their revenue is restricted for specific purposes. This means that nonprofits have little funding to test new revenue-generation ideas or expand what’s working.
Why are progressive nonprofits specifically at risk during this recession?
Historically, groups doing ongoing civic engagement work see their fundraising spike in election years, and fall sharply during off-years like 2021-2022.
Why are progressive nonprofits specifically at risk during this recession?
Candid data shows a significant drop in funding for financial sustainability and fundraising during and after the Great Recession. These investments are critical to helping groups learn new approaches to earning money and raising it; sustainability doesn’t happen without startup support.
More than a dozen major U.S. foundations have launched of the Progressive Stimulus Project, a 36-month, $5 million-dollar annual initiative to support progressive groups’ independent revenue generation efforts. In this watershed moment, these nonprofits are being called to quickly advance civic engagement and social justice while they reframe their work against a backdrop of the COVID-19 pandemic and economic recession.
Philanthropy should be giving more, not less, in this time of crisis. And even if donors do give more, creative new fundraising strategies are vital to a sustainable future for progressive organizations. Wallace Global Fund is spending 20% of our assets this year as part of our efforts to fund the vital work being done right now to protect vulnerable families, communities, and organizations as individual giving collapses. We are honored to help support this innovative new program and call on our peers in philanthropy to recognize that supporting our nonprofit partners is far more important than protecting our endowments,” said Ellen Dorsey, Executive Director of the Wallace Global Fund.
In addition to Wallace, the fund, managed by Progressive Multiplier, is launching with the support of The JPB Foundation, Ford Foundation, Mertz Gilmore Foundation, Four Freedoms Fund, Evelyn & Walter Haas Jr. Fund, The Resilience Initiative (a project of Rockefeller Philanthropy Advisors through a grant from the David and Lucile Packard Foundation), the Overbrook Foundation, Amalgamated Foundation, The WhyNot Initiative, Resilient Democracy Fund and Rosenberg Foundation. To date, over $1.5 million have been contributed to the first year’s goal of $5 million.
– JPB Foundation
Details on the next round of grants for the Progressive Stimulus Project coming spring/summer 2021.
Our goal is to fund independent revenue generation projects that have been born or had to evolve at the intersection of the COVID-19 pandemic, recent protests for racial justice and economic recession. To see if your organization is a fit for the Progressive Multiplier, check out our criteria here.
Examples of PSP grant projects may be:
We’ll host an informational webinar on July 23, 2020 at 12:30 p.m. ET. Register here.
The Progressive Multiplier Program team will be available for phone consultations about applications July 24 through August 7. Also, watch your inbox and our social media accounts for tips on how to make your application great!
Applications are due August 14, 2020 by 5:00 p.m. ET. Applications will be submitted through the Center of Excellence.
Funding decisions will be communicated no later than September 11, 2020
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COPYRIGHT 2020
COPYRIGHT 2020
