A new precedent was set recently when Connecticut Governor Dannel Malloy announced a plan to establish 20 as the age of jurisdiction for the state’s juvenile justice system. This would make Connecticut the first state to presumptively include anyone over 18 in the juvenile justice system.Not surprisingly, the announcement was met with widespread praise from social justice and child welfare advocates. The Southern Poverty Law Center, the Vera Institute and the Connecticut Democratic Party all shared the news on social media feeds, many trumpeting it as a monumental breakthrough in the fight against over-incarceration.
Impact investing has been on a lot of people’s minds lately in philanthropy, including ours. We are curious about how different foundations imagine and develop their strategies, and the Heron Foundation is one funder that’s been a real leader in this area. As we’ve previously reported, Heron is working to move its full endowment of some $300 million into investments that align with its mission by the end of 2017.To learn more about what Heron is up to, we got on the phone with Toni Johnson, who is a vice president charged with forging the path for Heron’s long-term public influence and engagement strategy.
Question: If funding to support boys and men of color is a priority, with some two dozen foundations involved, why are women and girls of color not an equal priority?The fact is that few new philanthropic efforts are aimed specifically at improving the lives of girls and young women of color.
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.