An Open Letter to Arts Funders: Create a Pooled Loan Fund
Creating a pooled fund of flexible capital could help resuscitate our arts ecosystem and build a more sustainable future for the arts and cultural sector post-COVID-19.
Creating a pooled fund of flexible capital could help resuscitate our arts ecosystem and build a more sustainable future for the arts and cultural sector post-COVID-19.
With new data about the financial health of Greater Philadelphia nonprofits combined with troubling trends due to COVID-19, it's clear that collaboration will be a vital strategy for both nonprofits and funders if the sector is to continue to provide essential services and stimulate innovation that advances social purpose.
Following the launch of the Black Community Leaders Fund on May 13th, we asked Philadelphia Foundation's Phil Fitzgerald, Executive Director for Grantmaking to give us some insights about how and why the fund was created and what the foundation hopes to achieve through this initiative.
VNA Foundation of Greater North Penn asked their nonprofit partners to share their perspective on the funder-grantee relationship. Here is their honest feedback.