Two weeks ago, I had the great opportunity to give a talk at The Annenberg Foundation in Los Angeles around corporate social responsibility and the innovation economy. TBF was honored to participate in AnnenbergTech’s thought leadership series, an initiative focused on engaging the burgeoning tech industry in Silicon Beach and broader Los Angeles with supporting nonprofits and their communities. Executives and senior leaders from LA’s tech sector were in attendance, including Snap Inc., Riot Games, Headspace, Omaze and YouTube.
Two weeks ago we shared with you the big news that Pledge 1%, the global movement of 1,000 companies in more than 30 countries that have pledged one percent of their businesses' equity for philanthropy and social change, is coming to Boston.
Well, time flies, and we're just six days away from the launch of Pledge 1% Boston. So we thought it was time you heard from a couple of people whose company was the first in Boston to make the pledge: Adam Martel and Rich Palmer, co-founders of Gravyty.
I drive by the Suffolk County House of Correction pretty regularly, and like many people, I'm guessing, I rarely think about what's going on inside the imposing structure because it feels like whatever's happening doesn't involve me. Out of sight, out of mind, no?
And that's a fine way to think if you're on the right side of the law, except inmate populations in local jails are like gravity: With the exception of those who are awaiting a lifetime transfer to prison, if what goes up must come down, then just as assuredly, those who go in will one day get out. And how well they're prepared to rejoin society is every bit as important as time served.
In the foundation world, community foundations are a bit different. Unlike the national foundations – recognizable names like Rockefeller, Case, Gates and Knight – we have a more local focus. Unlike private foundations, which are typically funded by a single entity, community foundations are designed to both reflect and affect their communities – more and more often through the generosity of donors who have set up donor advised funds.
But while a lot has been written about donor advised funds – and the differences between these funds at community foundations versus corporate entities like Fidelity and Schwab – the discussion often gets caught up in issues of taxation, fees and logistics, all of which are important but don’t get to the ultimate question – where does the money go?
In nonprofit circles, the buzz is growing about Giving Tuesday. For the second year, a coalition of nonprofits, foundations and other community organizations is rallying behind the concept that after the retail-created crush of Black Friday and Cyber Monday, the Tuesday after Thanksgiving could be a time to give to nonprofit organizations that help the community.
It’s a wonderful concept, and it will likely generate an uptick in donations to thousands of worthy causes. But for those of us in philanthropy, we see Giving Tuesday not as a one-day event, but as something that could inspire even more powerful philanthropy for individuals, families and companies.