Big foundations say it's time to increase giving

Philanthropists must step up and do more to help the nonprofit sector, leaders from some of the world’s biggest foundations said yesterday at the Skoll World Forum — the annual gathering for social entrepreneurs, which is taking place in Oxford in the United Kingdom this week. Those leaders included Jeff Skoll himself. During the opening plenary on Wednesday, the eBay billionaire, who lent his name both to the conference and the Skoll Foundation, made his first appearance on stage in several years, after a long absence due to health issues believed to include an autoimmune disease, yellow fever, and a long-standing back injury. Skoll told the conference that while it was necessary to generate efficiencies in government, the way those efficiencies had been generated was “careless, callous, and inhumane.” The Skoll Foundation, he said, had created an emergency fund to respond to the U.S. aid cuts, and increased spending by 30% from its previously planned levels. “We hope this serves as a signal to other funders to increase their grant-making,” he said. At a panel earlier in the day, four of the world’s largest foundations also spoke about the need for philanthropists to do more. John Palfrey, president of the MacArthur Foundation, said that his organization was increasing spending from 5% of its endowment each year to at least 6%. “It was by unanimous consent that we decided to spend more,” he said. “I think it’s blindingly obvious that everyone must do more in this moment,” he said. Many foundations were stepping up, he said, but not all were announcing it. “That’s because you get a lot of inbound emails when you announce that you’re increasing giving,” he said. Palfrey also said foundations should raise their voices and speak out on important issues. What was needed, he said, was “moral clarity.” For example, he said, his foundation would continue to work on diversity, equity, and inclusion, or DEI, issues, despite pressure from the U.S. government. Other philanthropic leaders also offered strong support for the idea that foundations should act bravely, though none gave details on a specific increase in spending. “This is a moment for risk-taking and courage,” said Binaifer Nowrojee, president of the Open Society Foundations. “This is something that’s always been in our DNA.” “This is not a time to get stuck,” said Olivia Leland, founder and CEO of Co-Impact. “This is a time to get going. Any amount of money matters.” Kate Hampton, CEO of Children's Investment Fund Foundation, warned funders not to be scared. “We need reform, but at the moment, there’s a lot of paralysis, and people who are afraid to step up,” she said.