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.
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.
The desire to be a journalist — to tell the stories that inspire feeling and change lives — usually kicks in fairly early in life. Many of us discover in high school that a source of great meaning and gratification comes from being able to communicate with others through writing or another form of media.
Which foundations support youth journalism in its many current incarnations, which now include blogging, videography, Youtubing and podcasting? Which foundations should grant seekers for youth turn to if they want to do the work of cultivating media and journalism for young minds?
In her 2014 book, Generation Unbound: Drifting Into Sex and Parenthood Without Marriage, Isabel V. Sawhill argues that unplanned births are a main cause of poverty, and that one of the most effective ways to reduce poverty (as well as inequality) is to help women, particularly young women, prevent unplanned pregnancies.
This is hardly a new idea, but Sawhill’s research has given it more heft, and anti-poverty funders should be paying close attention. While reducing unplanned pregnancies isn’t easy, it’s arguably a much lighter lift than tackling many of the other factors that underlie poverty, and that’s especially true in light of advances in contraception, as we’ll see in a moment. Enabling women to better control their fertility is also a classic upstream intervention that forestalls the need to address a range of other social problems, delivering lots of bang for the buck. Still, for various reasons, many funders that work on poverty steer well away from this area.
There’s lots happening in philanthropy these days around fatherhood, and with new attention being brought to the subject by President Obama, we at Inside Philanthropy figured it was a good time to survey some of the more innovative and promising fatherhood-fostering initiatives out there.
Foundations have been interested in fatherhood issues for at least two decades; see, for example, this 2000 overview of “donors and the burgeoning fatherhood movement” by the Philanthropy Roundtable. Today, a number of funders that address human services, criminal justice, and economic development invest to shape the role of fatherhood in these issues.