The impact of COVID on philanthropy has reshaped how foundations respond to community needs. In this episode, Lindsay discusses how community foundations adapted quickly, reimagined grantmaking, supported vulnerable populations, and fostered resilience during an unprecedented global crisis.
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A Perspective from the CEO of a Community Foundation on the Importance of Long-Term and Holistic Thinking During a Crisis
I think what gives me hope is watching nonprofit leaders emerge, build, and step into their power in ways that I haven't seen; fearlessly framing programming and advocacy work around restructuring systems that need social justice attention. Share on X
Philanthropy is increasing as foundations and Donor-Advised Funds (DAFs) are called to distribute money now, rather than letting it sit in a “parking lot.”
Legally, foundations must distribute 5% of their assets each year in grants to nonprofits. However, with private foundations holding an estimated $1 trillion in assets and DAFs containing $120 billion (according to MarketWatch), there is a growing push for greater action.
Fortunately, many ultra-high-net-worth individuals and foundations are advocating for faster distribution.
For example, the “Patriotic Millionaires” are encouraging the next stimulus package to require philanthropists to distribute 10% of their wealth to charities as the country continues grappling with the pandemic.
Moreover, to promote more immediate giving, David and Jennifer Risher launched the #HalfMyDAF challenge. This initiative offers matching donations to donors who pledge to empty half their DAF accounts and donate to charity by September 30.
Understanding the Foundation Structure
At its core, a foundation is an investment vehicle where dividends are distributed to charitable organizations.
Foundations offer several benefits:
Strategic advice on giving
The ability to aggregate funds over time for large initiatives
Tax burden reduction
A community foundation’s mission, however, tends to be much broader. Its focus is on improving the overall quality of life within a given area.
In this episode, we chat with Jim Becker, President and CEO of the Richmond Community Foundation of California. Jim offers a thoughtful, holistic perspective on funding strategies—not just for his region, but for communities nationwide.
The Richmond Community Foundation’s Approach
The Richmond Community Foundation structures its work around three pillars: coach, connect, and contribute.
Jim Becker embodies this philosophy and leads with humility and awareness.
As a white male leader in the U.S., Jim acknowledges his privilege. He advocates for deep self-study, followed by meaningful action toward allyship and investment in minority-led organizations.
Ultimately, Jim challenges us to view societal progress through the lens of community structures and family units.
Key investments should focus on ensuring access to:
Financial literacy education
Basic schooling
Essential healthcare services
By strengthening these foundational elements, communities can achieve more equitable and sustainable growth.
Listen to this full episode to learn from Jim’s experience and discover strategies that move beyond charity—toward systemic change.
Key Takeaways:
(01:04) – “It all comes down to the soul of the community” — Richmonds Community Foundation’s Coach-Connect-Contribute model and how it differs from traditional community foundations.
(11:14) – How has COVID-19 really impacted philanthropy? How can standing nonprofits keep holding on?
(15:38) – An unconventional but powerful alternative strategy to stay on the fundraising map if you are a small, limited-resources nonprofit.
(24:33) – On Jim’s rich and conscious upbringing and why the communities are the true nucleus of impactful and noticeable social change.
(27:51) – The elephant in the room: How the acknowledgment of your own privilege is not a disadvantage, but the first step to serve others and fight against racial and classism issues.
(35:51) – Recovering and resilience: How the teaching of financial literacy is the main key to help families thrive through hard times.
(44:21) – On Government funding and its lack of flexibility towards fundraisers and citizens in times of crisis.
