In April, Exponent Philanthropy fielded a survey to learn how our community is responding to COVID-19, and more than 900 lean funders responded. We’re still analyzing the data and further engaging respondents, but we want to share a high-level overview.
Have lean funders changed their funding in response to COVID-19?
In a word, yes.
Nearly 80% of lean funders have changed their approach to funding as a result of COVID-19. Of those who have not, almost 20% plan to change their approach in the next year.
Are funders giving more this year?
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About half of survey respondents say they’ll give more this year because of the pandemic.
Of the foundations that plan to increase their giving:
- 40.5% will give a certain dollar amount more
- 20.8% will increase the foundation’s overall payout
- 5.4% will increase the foundation’s grant budget by a certain percentage
Are funders shifting strategies in response to COVID-19?
Many lean funders are shifting some of their funding to support new populations. The majority of respondents (53%) are working to support individuals who have been economically affected by COVID-19. And almost 42% of lean funders are making grants to nonprofits outside their typical portfolio.
Lean funders are also implementing new approaches to supporting grantees and communities.
Highlights from the data include:
- 72% of funders are making emergency response grants outside the foundation’s normal grant cycle; 13% are considering it.
- 64% of funders are converting existing grants to more flexible funds (e.g., converting project grants to general operating support grants); nearly 15% are considering it.
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- 63% of funders are making additional grants to existing grantees; 22% are considering it.
- 56% of funders are delaying or postponing reporting deadlines; 15% are considering it.
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- 55% of funders are collaborating with other funders; 20% are considering it.
See the approaches funders have implemented, are considering, or decided against.
How have foundation operations changed in COVID-19?
Our lives have been upended by the pandemic and social distancing. Foundations are holding virtual board meetings (70%), virtual staff meetings (59%), and virtual meetings with grantees (59%).
More than half (55%) of funders have postponed site visits, and almost 30% have moved from issuing paper checks to making electronic payments for grants.
We’ll share how our members are responding to COVID-19 in the coming weeks as we continue analyzing data and collecting member stories.
Some solid insights from this early survey. Why am I not surprised? Thanks.
Wondering if there’s any trend becoming evident in terms of compensation practice for paid CEOs, other staff in the Pandemic environment.