Foundations Seek to Reflect 'Changing Face of America'

Appeal to America's changing demographics was considered a key factor in President Obama's recent re-election. Everyone talks about the "changing face of America" -- with a growing Latino population and more same-sex couples, for example -- but have the leaders and constituencies of philanthropic associations and foundations changed to match? A progress report on the successes and challenges of increasing diversity, equity and inclusion in the philanthropy arena was recently released by the D5 coalition. Launched in April 2011, D5 is a coalition of leading philanthropic associations and foundations with a five-year diversity project. By the end of 2015, D5 hopes to achieve goals such as recruiting of more diverse foundation leadership, increasing funding for diverse communities, and improving data collection to measure diversity progress in philanthropy. Among positive moves highlighted was the April meeting of 26 leaders of major foundations -- including the California Endowment, Annie E. Casey Foundation, W.K. Kellogg Foundation, and Open Society Foundations -- to form an alliance for action on issues affecting youth of color. For more on D5 and its progress report, go to http://www.d5coalition.org/2013/05/new-report-offers-lessons-for-philanthropic-field-to-keep-up-with-changing-face-of-america/

Megabank Philanthropy: More PR Than Reality?

The nation's megabanks spend megabucks on PR to tout their philanthropic initiatives, but their actual social generosity is either unverifiable or lackluster, claims a new report from The National Committee for Responsive Philanthropy (NCRP), an "independent watchdog of philanthropy." Hardly a fan of big banking, the NCRP cites the "crimes" of four megabanks (from furthering the economic meltdown to actual legal convictions, fines and settlements), while questioning claimed philanthropy in the report. Findings note that Bank of America, Wells Fargo, Goldman Sachs and JPMorgan Chase do not disclose "the recipients of purported charitable contributions disbursed from corporate treasuries, making it impossible to independently verify claims of philanthropic largesse," while their corporate foundations have given less than 50% of grant dollars to efforts that "explicitly benefit the poor, elderly and other under-served populations." During the recent recession, only one of the four surpassed the financial industry's median of philanthropic generosity, but all four maintained or increased their already hefty political spending, according to NCRP research. For more, see the NCRP press release at http://www.ncrp.org/news-room/press-releases/893-philanthropy-of-megabanks-mediocre-lacks-transparency