Dark chocolate, a fairy godmother, Acapulco, equity, and trust-based philanthropy. What connects these things? A wide-ranging and delightful conversation between Dianne Bailey, Chair of Women’s Impact Fund’s Board of Advisors and Managing Director of Philanthropic Solutions at Bank of America, and Sara Lomelin, Executive Director of Philanthropy Together. Dark chocolate and a cup of coffee at her father’s house in Acapulco are some of Sara’s favorite things. Dianne is a fairy godmother of Philanthropy Together. Equity is what we all need to strive for, and trust-based philanthropy is the path forward in giving. Watch the full recording here.
Sara Lomelin, internationally recognized for her social impact and philanthropic work, now heads Philanthropy Together (PT), a global initiative, seeded with funds from the Gates Foundation. PT has big goals to scale, grow, and sustain the international giving circle movement in the next five years, adding another 1,000 circles and giving another $1 billion. Currently, there are 2,000+ giving circles with more than 150,000 members who have given $1.29 billion worldwide.
The evening’s conversation explored the power and promise of giving circles. Sara believes that they diversify and democratize philanthropy. She noted philanthropy is no longer the exclusive domain of the very wealthy. Giving circles fill funding gaps; more than 80% give locally, and 70% are led by women. “We all need to move toward trust-based philanthropy.” Unrestricted grantmaking allows nonprofits to be flexible and nimble in meeting needs. The COVID-19 pandemic showed us just how agile local nonprofits could be and how necessary unrestricted funds were in responding during a crisis.
This event kicked off the program year for Women’s Impact Fund at a fun space in Norfolk Hall in Southend. The crowd was hybrid, some members attending in person and others via zoom. Board Chair, Ellen Rankin, shared some thoughts about goals for the year. Key among them is a commitment to unrestricted funding and to be part of the philanthropic movement toward trust-based philanthropy. Interested area nonprofits are encouraged to apply for a grant. Members who have not yet joined a committee and are interested should contact Fielding Williams, Membership & Operations Coordinator at fwilliams@womensimpactfund.org
