This report examines the growing wealth of billionaires and other ultra-high net worth individuals in Massachusetts — where voters will have the chance to levy a 4 percent surtax on those making more than $1 million a year this November.
Three top groups working for philanthropic reform are hosting two national town halls that could save our charities and move many more charitable dollars back to local communities.
CalNonprofits, Community Centric Fundraising Network, and Charity Initiative of the Institute for Policy Studies are co-hosting the online events, which are open to the public.
The pandemic has pushed the need for services from the nonprofit sector to heights not seen since the Great Depression. At the same time, city and state budgets are not able to keep up, and federal aid did not go far enough in supporting either charities or cities and states.
All the while, billionaires have seen their wealth increase by $800 billion during the pandemic as the stock market is back up at record highs. Wealthy investors are winning, while millions are unemployed, and hundreds of thousands have died of COVID-19.
Meanwhile, some $1.2 trillion in wealth is warehoused in private foundations and donor-advised funds.
Learn why and what we can do to stop it by attending one or both sessions detailed below:
Session I: What’s Broken in the Foundation and Donor Landscape?
This session has already occurred. See the recording.
Monday, October 5, 2:00 pm – 3:15 pm Eastern
In these trying times we see great examples of funders stepping up to meet the crises of COVID-19, racial injustice, and more. But these inspiring examples hide the broken funding system that keeps too much money locked away from the charities that need it now.
What are some of the national and state efforts looking to address the issues identified in Session I? This session will include leaders of the Emergency Charity Stimulus Campaign, an effort to change foundation and donor-advised fund giving for three years.
Featured speakers include:
- Moderator: Jan Masaoka, California Association of Nonprofits (CalNonprofits)
- Farhad Ebrahimi, Founder and President of the Chorus Foundation
- Ellen Dorsey, Executive Director of Wallace Global Fund
- California Assemblymember Buffy Wicks (D-Oakland)
- Latonya Slack, Principal, Slack Global Consulting