2. The Power of Collective Giving
2.1 Definition of Collective Giving
2.2 Benefits of Collective Giving
2.3 Examples of Collective Giving
3. The Power of Focused Giving
3.1 Definition of Focused Giving
3.2 Benefits of Focused Giving
3.3 Examples of Focused Giving
4. The inspiration for the Global Black Philanthropy Initiative (GBPI)
4.1 History of GBPI
4.2 Objectives of GBPI
4.3 Strategic Approach Used
1. Introduction
Philanthropy is the act of giving to those in need, and it has been a part of human society for centuries. In recent years, there has been a growing trend towards collective and focused giving, where groups of people come together to pool their resources and make a greater impact. The Global Black Philanthropy Initiative (GBPI) is a prime example of this trend, as it brings together philanthropists from around the world to focus on issues affecting the Black community. In this blog, we will explore the power of collective and focused giving and how it has led to the creation of GBPI.
2. The Power of Collective Giving
2.1Definition of Collective Giving
Collective giving, also known as group giving, is the act of individuals coming together to pool their resources and make a greater impact. This can take many forms, such as giving circles, community foundations, and donor-advised funds. The goal of collective giving is to leverage the power of many to achieve a common goal.
2.2 Benefits of Collective Giving
There are several benefits to collective giving, including:
– Increased Impact: By pooling resources, collective giving can have a greater impact than individual giving.
– Shared Learning: Collective giving allows individuals to learn from each other and share their knowledge and experiences.
– Increased Engagement: Collective giving can increase engagement and participation in philanthropy, as individuals feel a sense of community and purpose.
– Increased Accountability: Collective giving can increase accountability, as members hold each other accountable for the impact of their giving.
2.3 Examples of Collective Giving
There are many examples of collective giving, including:
– Giving Circles: Giving circles are groups of individuals who come together to pool their resources and make grants to nonprofit organizations. Giving circles can be based on a variety of factors, such as geography, identity, or issue area.
– Community Foundations: Community foundations are organizations that pool donations from individuals, families, and businesses to support nonprofit organizations in a specific geographic area. Community foundations often have a deep understanding of the needs of their community and can make strategic grants to address those needs.
– Donor-Advised Funds: Donor-advised funds are charitable giving accounts that allow individuals to make a charitable contribution and receive an immediate tax deduction. The individual can then recommend grants from the fund to nonprofit organizations over time.
3. The Power of Focused Giving
3.1 Definition of Focused Giving
Focused giving, also known as strategic giving, is the act of targeting resources towards a specific issue or cause. Focused giving allows individuals to make a greater impact by concentrating their resources on a specific area of need.
3.2 Benefits of Focused Giving
There are several benefits to focused giving, including:
– Increased Impact: Focused giving allows individuals to make a greater impact by concentrating their resources on a specific area of need.
– Clarity of Purpose: Focused giving allows individuals to have a clear understanding of the impact they want to make and the outcomes they want to achieve.
– Increased Accountability: Focused giving can increase accountability, as individuals can measure the impact of their giving against specific goals and outcomes.
– Increased Learning: Focused giving allows individuals to learn more about the issue or cause they are supporting and become more knowledgeable advocates.
3.3 Examples of Focused Giving
There are many examples of focused giving, including:
– Issue-Based Giving: Issue-based giving focuses on a specific issue or cause, such as education, health, or the environment. By targeting resources towards a specific issue, individuals can make a greater impact and achieve specific outcomes.
– Place-Based Giving: Place-based giving focuses on a specific geographic area, such as a city or region. By targeting resources towards a specific area, individuals can have a greater impact on the community and address specific needs.
– Impact Investing: Impact investing is the act of investing in companies or organizations that have a social or environmental impact. By targeting resources towards organizations that are making a positive impact, individuals can support social change while also generating financial returns.
4. The inspiration for the Global Black Philanthropy Initiative (GBPI)
4.1 History of GBPI
Support Black Charities (SBC) has recently announced the launch of the Global Black Philanthropy Initiative (GBPI) in Toronto, Canada, with an aim to promote sustainable development goals and a holistic approach to philanthropy in the Black community. With an online directory that includes 130 vetted member organizations from 20 different countries, GBPI intends to redefine the idea of giving in the Black community. Therefore, SBC looked to harness the power of collective giving by following the narrative of Black Philanthropy Month (August) and leverage the power of focused giving by aligning with the United Nations’ framework for the 17 sustainable Development goals.
They succeeded in launching a creative innovative way of giving by maximising its value and impact for the donors and the communities it’s benefitting.
The idea behind the establishment of GBPI lies in the disparities that continue to exist with an insufficient amount of financial resources and assets for Black-led organizations despite the presence of Black philanthropy stretching over several generations. Supported by racial equity, GBPI is committed to advancing the fundamental needs of the Black community through strategic partnerships, collaborations, dedicated funding, and collective action while promoting race-conscious giving.
4.2 Objectives of GBPI
The primary objective and goal of GBPI is to achieve a more equitable and sustainable future, sustainably. The organization aims to recognize the accomplishments of its member organizations that work towards the 17 SDGs. To launch this initiative, SBC has categorized each member organization under the relevant SDG where they align or support most closely.
Anick Silencieux, Executive Director of SBC, said, “We believe that by championing sustainability and supporting Black-led nonprofit organizations that align with the United Nations Sustainable Development Goals, we can create a more equitable and sustainable future.” GBPI provides a revolutionary and innovative way of giving where donors can donate to a specific category of SDG which is not limited to a single organization.
The initiative intends to have a lasting impact by moving away from the structure of traditional giving and impacting all organizations within the same SDG category, enabling the donors to make an immediate impact across diverse sectors and countries. The raised funds will be distributed equally among all nonprofit organizations championing the specific SDG after covering the administrative costs of GBPI.
GBPI invites everybody, including individuals, businesses, philanthropists, nonprofits, and community organizations, to join the movement and contribute through strategic giving and collective action to support the needs of the Black community globally.
4.3 Strategic Approach Used
GBPI has employed a strategy to mobilize resources and engage stakeholders in their initiatives, which involves the following approaches:
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- Categorization of member organizations under the relevant SDGs.
- Creative and innovative approach to giving, offering an opportunity to impact more organizations instead of a single entity.
- Promotion of race-conscious giving to encourage Black-led nonprofit organizations’ support.
- A commitment to advancing the fundamental needs of the Black community while promoting sustainability in achieving sustainable development goals.
- Dedicated education and awareness campaign about Black Philanthropy Month and the 17 Sustainable Development Goals (SDGs) specifically for the global Black community.
Through collective and focused giving, GBPI is striving to become a leader in philanthropy that accomplishes a holistic approach to Black philanthropy across the globe. Their impact includes the support of Black-led organizations in every sector worldwide and fostering collective giving for sustainable change during Black Philanthropy Month. GBPI provides a platform to recognize and amplify the positive impact and change of non-profit organizations working towards universal Sustainable Development Goals. Consequently, all organizations listed on SBC’s directory and categorized under the appropriate SDG will benefit directly from GBPI’s success and the public’s generosity throughout August.
GBPI exemplifies a new model for philanthropy by disrupting traditional giving structures through collective and focused giving, innovation and sustainability in advancing the needs of the Black community worldwide. Committed to achieving sustainable change and promoting race-conscious giving, GBPI aligns with Black Philanthropy Month and United Nations’ 17 sustainable development goals (SDGs). The successful fulfilment of this initiative is rooted in the importance of recognizing and amplifying the impact of Black-led organizations in every sector worldwide fostering the genuine progress of every organization in the sector.
5. Conclusion
The power of collective and focused giving cannot be overstated. By coming together to pool resources and target specific issues, individuals and businesses can make a greater impact and achieve specific outcomes. The Global Black Philanthropy Initiative (GBPI) is a prime example of this trend, as it brings together philanthropists from around the world to address issues affecting the Black community. As we celebrate Black Philanthropy Month, let us recognize the power of collective and focused giving and the impact it can have on the world.
We encourage everyone to consider the benefits of collective and focused giving in their own philanthropic endeavors by supporting and investing in philanthropic initiatives like GBPI.
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