This “impact investing debt fund” will address tough urban problems like affordable housing and homelessness, as well as catalyzing overall economic development and reducing poverty in the nation’s urban cores.
This is not the first time that Living Cities has led a collaborative fund to work on economic development in America’s cities. In 2008, the Catalyst Fund was launched by Living Cities using philanthropic capital alongside commercial capital from Living Cities’ members—22 foundations and financial institutions, including Annie E. Casey, Ford, MacArthur, and Surdna, working to “get results for low-income people, faster.”
But what’s really going on here? What’s the impact of women’s leadership in philanthropy in terms of (a) where resources are actually going; and (b) how things are done in the philanthrosphere?
These questions are important to the sector, but they also link up with the larger perennial debate over just how much change occurs when women start calling the shots. Philanthropy offers an intriguing case study in this regard.
Our own impression from IP’s ongoing reporting in this area is that there are good reasons for all the excitement about women’s leadership in philanthropy. In fact, this leadership has mobilized new resources to advance gender equity and does seem to be affecting how philanthropy writ large operates.
Coming up soon on Inside Philanthropy: interview with Emily Nielsen Jones, co-founder of the Imago Dei Fund! To get you started on understanding this amazing leader, check out this article she co-wrote with Musimbi Kanyoro about new ways funders are using a gender lens to choose where to put their money. From SSIR:
Philanthropists and for-profit investors alike today are apt to talk of using a gender lens when screening opportunities to fund social change. When my husband and I (Emily) began our foundation—the Imago Dei Fund—in 2009, I gravitated immediately to the idea of empowering women and girls. Little did we know then that it would grow into a powerful movement changing the face of philanthropy.
At the cusp of a new round of global gender goal setting, we find ourselves asking: Where is the gender-lens movement going, which now takes as conventional wisdom that gender balance is a lynchpin of global progress? The answer lies in moving beyond redress, mitigation, and even women’s empowerment programs—though these are still sorely needed—to more directly fund culturally led efforts to re-examine and transform underlying beliefs that systematically disempower females in the first place.
Two years ago, we published a list of the 15 most powerful women in U.S. philanthropy. The idea for that article emerged because we were struck by how many women are involved in philanthropy at a high level—and equally struck by how little attention they tend to receive. In particular, while the spouses of billionaires often play a lead role in charting a couple’s giving, the spotlight usually falls on their better-known husbands when major gifts are made. Not only is this unfair, but it misses the real story of how today’s big philanthropy is unfolding as new mega-donors enter the scene—with women in the lead.
Nearly every week at Inside Philanthropy I meet another woman leader who shows me a way that women’s funds and foundations are impacting the philanthropy landscape, and breaking down barriers to equality for women and girls. This week I talked to Roslyn Dawson Thompson, President and CEO of the Dallas Women’s Foundation (now the Texas Women’s Foundation) and the chair of the board of directors of the Women’s Funding Network.
Much of our discussion was about the role of economic security in empowering women. “If women are not able to achieve economic security then it has massive implications for workforce development and the economics of every state and the country overall,” said Thompson.
Hello once again, world! Philanthropy Women is being built to provide more relevant and timely news and transformative analysis on women, women’s leadership in philanthropy, and women’s leadership in society.
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