Two foundations–Wachovia and MacArthur–have just awarded a prize of $8-plus million dollars to a pair of community development finance funds, which will in turn use the funds to offer working capital loans to nonprofits and small businesses in under-served Latino communities. Details of this daisy-chain of opportunity finance appear through the link.
This seems like a sensible use of donations to donors: if money is going to be invested, it should be invested by people who know the community, and the only role for the biggest fish is to ascertain who those community-knowledgeable investment people are. (A knowledge resource for those big fish, and the rest of us: Xigi.net, information about capital markets for social-good enterprises–charities and do-good for-profits alike. They, and we, should also check out the analysis by our colleague at Tactical Philanthropy of how lending and fundraising can fit together in the financial plans of nonprofits, and how lending and donating can fit together in the financial plans of generous individuals and companies.)
Query whether all the recent "re-gifting" (and wait til the Nonprofiteer gets her
hands on the person who decided "gift" was a verb) is a genuine trend, or just a spillover from Christmas and the seasonal tide of mathoms.
The Nonprofiteer is off to New York to see the lights of the big city (not to mention the Penny Harvest Field at Rockefeller Center–does she know how to have a wild time, or what?). Publication will resume after the holidays, on Monday, January 7. Happy new year to all!