Pricewaterhouse Coopers (PwC) provides grants and educational tools for children to develop financial skills with its Earn Your Future program.
As the economy continues to recover and social movements directed at addressing inequality continue to gain steam, one field of philanthropy that is in ascent is asset building, which helps low income people build up savings to expand their economic opportunity.
For children, one feature of the asset-building strategy is child savings accounts, with the goal of getting more children to start saving and building a nest egg for the future.
Scholars like Benjamin Friedman have demonstrated that economic growth helps drive any number of positive trends: improved human rights, better health, women’s empowerment, higher education attainment, and on and on.
Historically, though, explicit efforts to foster growth haven’t been all that high on the agenda of a philanthropic world that cares about all the things I just mentioned. In particular, funders haven’t tended to do a lot in the way of supporting entrepreneurs, whose new businesses create many of the new jobs that propel growth. Meanwhile, small business has been on the decline in the U.S. for the last decade, a trend that was greatly accelerated by the Great Recession, with new business creation plunging by 30 percent in the wake of the economic crash.
The high percentage of U.S. children living in poverty—one in five, at last count—hasn’t changed much in the past few decades. And while you’d think that would be a national scandal, this issue has just never had the political traction advocates have hoped.
Lately, though, things seem to be changing. Early childhood education is moving up on the national agenda and a new book by Robert Putnam on the deeply unequal lives of American children has received wide attention. Amid a growing debate over inequality, and also race, fresh opportunities are emerging to improve the lives of kids.
New coalitions and innovations seem to be springing up all over the country to address the challenges facing America’s workers, backed by a range of funders. Last week, we wrote about a big effort on jobs spearheaded by Howard Schultz and Starbucks. And yesterday we wrote about a workforce push in Newark that JPMorgan Chase is helping bankroll.
Attention to race keeps growing in the United States, and that’s true for a bunch of reasons. But, for sure, philanthropy has played a role in elevating race to the top of the national agenda.
Well before the events in Ferguson last year, a number of top foundations were already investing in new work to address racial inequities and empower leaders of color. Most notably, ten top foundations partnered with the White House in February 2014 to address the challenges facing young men of color. And nearly a year earlier, 26 foundations had come together in Chicago, pledging new work in this same area. As we’ve also reported, the Robert Wood Johnson Foundation launched a big initiative on young men and boys of color, Forward Promise, in 2011. Looking even further back, the Open Society Foundations began its Campaign for Black Male Achievement in 2008.
The internet is a great platform to voice your ideas and advocate for social change. Kiersten Marek, writer for news website Inside Philanthropy, uses CoPromote to spread her knowledge and connect with other like minded individuals. Using real life experience, she brings different perspective on many issues. Check out the chat we had with Kiersten below about her content, and the issues she is most passionate about!