Devex Newswire: Philanthropy is not about to come to the rescue

It’s time to get real about philanthropy: It’s not about to ride in on a white horse and save a development community battling unprecedented foreign assistance cuts. But it could be a salve in this time of scarcity — if you know how to tap into it and keep your expectations reasonable.

Also in today’s edition: Over the next weeks, expect another fierce battle — this one at the United Nations, where delegates across the world will tussle over what constitutes gender rights.

+Watch now: This week’s episode of “Last Week Tonight with John Oliver” gave an overview of the USAID cuts — and featured some Devex reporting!

When generosity isn’t always the answer

Good news for aid advocates: Philanthropy is on the rise. The bad news? It’s nowhere near the levels needed to make up for donor cuts to bilateral foreign aid.

The numbers bear that out: Our newly released report, The top 10 foundations funding development, shows that in 2023, the 32 largest private providers that reported to the OECD collectively spent $12.5 billion on development, a healthy 8% increase from the previous year. Still, this funding represents a tiny fraction of the $200 billion or more that comes from official development assistance, writes Devex Pro Funding Editor Raquel Alcega.

Raquel and Devex Business Editor David Ainsworth recently hosted a Pro Funding Briefing to offer an honest take on a notoriously closed-off sector. For one thing, philanthropy is highly concentrated among a tight cadre of billionaires. Breaking into this exclusive club is no easy feat, especially because top foundations tend to award massive grants to a very small, familiar group of organizations. These foundations, including Gates, Mastercard, and the Buffett foundations, do not accept unsolicited proposals or open calls, relying instead on closed networks and dedicated teams to find partners.

Dave and Raquel’s advice: partner pathways, mapping existing grantees, and long-term cultivation — not emergency proposals.

Another interesting tidbit from the briefing: foundation endowments, which typically disburse about 5% of their funds annually as grants, keep the remaining 95% invested in the stock market.

"If you’re not focused on what your endowment is doing, then your endowment is probably doing a lot of harm," Dave warned. After all, if you’re making a boatload of money on the stock market because of oil and gas investments and your foundation wants to fight climate change, well,  you do the math.

Watch the briefing: Can philanthropy fill the aid gap? 5 reality checks (Pro)

Related: Foundations own huge amounts of stocks. Are they using them for good? (Pro)

+ Join us tomorrow, March 10: Faced with unprecedented financial constraints and a moment of crisis, the U.N.’s ability to survive the Trump administration hinges on its capacity for reinvention. Join Daniel Forti of the International Crisis Group and Jane Kinninmont of the United Nations Association UK for exclusive insights into what 2026 holds for the world body. Register now.

Giving you the scoop

Get the lowdown on philanthropic giving with the report on foundations I mentioned above. Among other things, it breaks down:

• Which foundations are stepping up to soften the blow of major bilateral donor withdrawals

• Where philanthropic funding is concentrating as traditional donors deprioritize global aid

• The specific strategies 10 foundations are using to mobilize resources in an era of disruption

• How to navigate the challenges of this unstable landscape by aligning with shifting private priorities

• What the latest 2024-2025 grant data reveals about who will win funding in the coming year

Download: The top 10 foundations funding development (Pro)

+ Not yet a Devex Pro member? Start your 15-day free trial today for expert analyses, insider insights, funding data, events, and more exclusive content.

The gender wars rage on

Persistent spoiler or principled opposition? The role of the Trump administration in the Commission on the Status of Women, or CSW, at the United Nations, very much depends on your political ideology.

In any case, the U.S. is determined to change the narrative at the world’s largest gathering on gender equality, which kicks off today and will bring thousands of diplomats, activists, and development professionals to the U.N. headquarters in New York over the next two weeks.

In fact, the Trump administration has already tried to throw its weight around in negotiations over CSW’s outcome document, which provides recommendations to governments on what they can do to advance the cause of women. It tried to introduce 90 amendments and comments — most didn’t pass muster, so U.S. delegates took a different tack: urging U.N. member states to support a pared-back declaration that would slash what it considers “controversial social issues.” Those include removing language referencing “gender equality,” opposing safeguards to “eliminate gender-based violence,” or any quotas or targets based on increasing women’s participation, my colleagues Colum Lynch and Elissa Miolene write.

“Usurping member states’ domestic prerogatives on such issues increases the democratic deficit of this organization and turns international cooperation into a new form of colonialism,” the U.S. delegation said in a statement shared with Devex.

But for critics, U.S. involvement is designed to sabotage progress on women’s rights.

“They didn’t show up to negotiate,” said a civil society representative in the room for the talks, who agreed to speak to Devex on background. “They came to be an obstructionist force.”

Exclusive: US seeks to scrap UN efforts to expand women's rights

+ For more on CSW, stay tuned for a special newsletter by Elissa coming to your inbox later today. And to reach Elissa, drop her a line at elissa.miolene@devex.com.

Banking on equality

Gender, climate, DEI, and other “woke” terms have become taboo to even say in the Trump administration. But that’s not erasing them from the lexicon of development — or multilateral development banks.

The European Investment Bank, for one, said it will maintain its investments in climate, gender, and health despite its increased focus on defense and competitiveness within the European Union, EIB President Nadia Calviño told my colleague Jesse Chase-Lubitz at the recent EIB Group Forum in Luxembourg.

“At a time when we see how other multilateral institutions do not use the word ‘climate,’ do not use the word ‘inclusion,’ do not use the word ‘women,’ the European Investment Bank that has the 27 member states as our shareholders, is proudly carrying the flag of development, sustainable development and climate finance,” she said.

On gender, EIB announced its third Gender Action Plan, which aims to improve accessibility to jobs, health care, and security with a fivefold increase in financing.

Read: EIB says it’s ‘carrying the flag of development’

ICYMI, here’s a recap of the EIB forum: Rhetoric is global, but funding stays local

Free labor

Many of the former USAID-ers I’ve spoken to over the past year have turned to volunteering in between searching for jobs. It makes sense. For mission-driven professionals, it’s not just about keeping busy; it’s about adding purpose back into your life.

“It’s a little bit of healing yourself by giving yourself and being part of something that’s bigger in a positive way, rather than just ‘I was part of a mass firing,’” says Andrea Grimaldi, a federal worker who specialized in early childhood education.

On a more practical level, volunteering can lead to paid opportunities.

Douglas Mercer, managing director of talent attraction and acquisition with Save the Children US, began in global development by volunteering with Médecins Sans Frontières, before being hired by the organization. A perk of volunteering is having access to internal job opportunities that may come up, he says. Later, as an MSF recruiter, “I would bring in volunteers all the time; some of them were just rock stars.”

He advises professionals to highlight skills, awards, and achievements they’ve gained from volunteering on their résumés — something he would count toward a candidate’s relevant work experience, as would his compensation team, writes Natalie Donback for Devex.

But volunteering can help even if you’re not ready for a paid position. “I was absolutely not ready to look for a new job, because I was traumatized. There was no way I was going to be able to go out there and have an interview and show my best face,” Grimaldi says. Volunteering became her “secret sauce,” adding structure to the day, providing something to focus on, and an excuse to leave the house.

Read: The pros and cons of volunteering during your job search (Career)

+ Join us on March 16 for the Devex Career Briefing: How to Create a Portfolio Career Playbook for Long-Term Consulting Stability. Save your spot now. This event is exclusively for Career Account members. Not yet a member? Start your 15-day free trial.

In other news

U.S. foreign aid cuts to tuberculosis funding could cost families worldwide an estimated $80 billion in out-of-pocket health expenses and lost income. [Boston University School of Public Health]

Thousands of civilians, aid workers, and U.N. peacekeepers were forcibly evacuated from Akobo, as the U.N. warns of a possible return to a full-scale civil war in South Sudan. [Al Jazeera]

The Trump administration convened 12 Latin American leaders for a Shield of Americas summit to discuss regional cooperation and counter cartels. [The Guardian]

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