How One DAF Grew from $238 Million to $10 Billion in a Year

Plus, a new executive director at Airbnb; and the CEO of Giving Back Fund says media coverage has been misleading (letter to the editor) ADVERTISEMENT [Philanthropy Today Logo]( You can also [read this newsletter on the web](. Or, if you no longer want to receive this newsletter, [unsubscribe](. DONOR-ADVISED FUNDS [The $10 Billion Charity No One Has Heard Of]( By Alex Daniels [STORY IMAGE]( The SDG Impact Fund grew from $238 million to $10 billion in one year. Cryptocurrency and NFTs appear to have played a part; the U.N. Sustainable Development Goals do not. ADVERTISEMENT TRANSITIONS [Airbnb.org Appoints Next Executive Director]( By M.J. Prest [STORY IMAGE]( Also, the Institute for Nonprofit News has named a new CEO, and Marisa Calderon will begin in January as president and CEO of Prosperity Now. LETTERS TO THE EDITOR [Complaints Against Giving Back Fund’s Leadership Are Without Merit]( Recent media coverage of the Giving Back Fund misleads Chronicle readers, says the fund’s founder and CEO Marc Pollick. WEBINARS [January 18, 2024, at 2 p.m. ET | Register Now]( [STORY IMAGE]( How can you keep supporters connected to, and inspired by, your cause in uncertain times? Join us for the webinar Developing a Donor-Engagement Plan for 2024 to get tips and tactics for mapping out a year-long strategy that you can adjust as conditions warrant. You’ll learn how to prioritize tactics and communication channels that get results, keep your cause top of mind among supporters, and lay a strong foundation for year-end fundraising appeals. SPONSOR CONTENT | The California Endowment [A Resolution for Philanthropy in 2024]( Nonprofit News From Elsewhere Online A donor to the University of Pennsylvania has yanked a $100 million gift to the school, following a much-pilloried performance at a congressional hearing on antisemitism on campus given by the school’s president. Ross Stevens, an alumnus of the school’s undergraduate program and founder of the Stone Ridge Asset Management firm, made a donation to the school in 2017 in the form of limited-partnership units in Stone Ridge currently valued at $100 million. Following Penn president Liz Magill’s testimony on Capitol Hill, Stevens said the school’s “permissive approach to hate speech calling for violence against Jews and laissez-faire attitude toward harassment and discrimination against Jewish students” violated Stone Ridge’s policies. ([Axios]( Angry World Food Program staff confronted the organization’s president, Cindy McCain, last week, charging that she was “indifferent” to the dangers facing the group’s aid workers providing humanitarian assistance in Gaza. At a staff meeting, members of the nonprofit’s staff also criticized her for appearing at an event where an award was given in honor of her husband, the late Sen. John McCain, by the Israeli people — an appearance they said could compromise their efforts to feed Palestinians in Gaza. McCain, they said, had not forcefully enough called for a cease fire in the two-month-old war or condemned Israel’s siege of Gaza. McCain has stressed that the nonprofit is nonpolitical, and a WFP spokesperson added that McCain and her staff are “working tirelessly to get lifesaving aid to the millions in Gaza in desperate need.” ([Washington Post]( Plus: Hundreds of Jewish Organization Staffers Call for White House to Back Gaza Cease-Fire ([NBC]( More News - Philanthropy Is Stepping up to Advance Reparations and Racial Repair ([Barron’s]( - Government Efforts To Erase Student Loan Debt Have Now Reached 3.6 Million Borrowers ([NPR]( - Background from the Chronicle: [The Student-Loan Forgiveness Program That More Nonprofit Workers Should Know About]( - It’s One of the Biggest Experiments in Fighting Global Poverty. Now the Results Are In ([NPR]( - At World Central Kitchen, José Andrés Is In Middle Of A Mess ([Bloomberg]( - Goodwill Sacramento’s Ex-CEO Indicted. Prosecutors Allege He Siphoned Over $1M From Charity ([Sacramento Bee]( - Mackenzie Scott Donates $2 Billion to 360 Different Charities ([Bloomberg]( Note: In the links in this section, we flag articles that only subscribers can access. But because some journalism outlets offer a limited number of free articles, readers may encounter barriers with other articles we highlight in this roundup. New Grant Opportunities Your Chronicle subscription includes free access to [GrantStation’s]( database of grant opportunities. [The Arts:]( The Creative Forces Community Engagement Grant program, a program of the National Endowment for the Arts in partnership with Mid-America Arts Alliance, aims to improve the health, well-being, and quality of life for military service members and veterans exposed to trauma as well as their families and caregivers through experiences of art or art making. Matching grants up to $50,000; application deadline January 17, 2024. [Health Care:]( The Parkinson’s Foundation provides community grants to further the health, wellness, and education of people with Parkinson’s disease across the U.S. The 2024 community grant cycle focuses on programs that educate and deliver exercise programs specifically designed for people with Parkinson’s disease, address the intersection of mental health and Parkinson’s disease, and reach and support care partners of individuals with Parkinson’s disease. Application deadline January 31, 2024. SUBSCRIBE TO THE CHRONICLE Enjoying the newsletter? [Subscribe today]( for unlimited access to nonprofit news and analysis. EDITOR'S PICKS ONLINE FUNDRAISING [3 Traps to Avoid in Year-End Fundraising]( By Chris Maddocks [STORY IMAGE]( Anxiety and uncertainty can lead to questionable online fundraising tactics. Don’t adopt these practices, which yield only short-term gains. GRANT MAKING [How Foundations Can Build Trust-Based Relationships With Grantees]( By Stephanie J. Hull and Hilary Pennington [STORY IMAGE]( Involve potential grantees in learning at the outset, and more advice from a grant maker and a nonprofit leader. SPONSOR CONTENT | Ganbina [A Path to Success for Indigenous People Everywhere]( Ganbina’s Jobs4U2 program proves that long-term intervention leads to long-term success. ADVERTISEMENT RECOMMENDED WEBINAR [Join our webinar]( — Fundraisers and nonprofit communicators know how vital it is to keep donors regularly informed and inspired by your work. The year ahead is likely to be filled with distractions — from ongoing economic uncertainty and geopolitical strife to a U.S. presidential election — so cutting through the noise will take creativity and thoughtful planning. How can you keep supporters connected to your cause in unpredictable times? Join us on Thursday, January 18, at 2 p.m. Eastern for a 75-minute webinar to get tips and tactics for mapping out a year-long strategy that you can adjust as current events or economic conditions warrant. You’ll learn how to prioritize tactics and communication channels that get results and lay a strong foundation for year-end fundraising appeals. Don't miss this chance to start the year off strong. [Register now.]( JOB OPPORTUNITIES [Apply today](http://). [Director of Development, Literary Arts Organization]( 826LA [Chief Development Officer, Youth Development Industry]( Racquet Up Detroit [Executive Director of Corporate and Foundation Relations]( Bryant University [Search other jobs.]( [Chronicle of Philanthropy Logo]( This newsletter was sent to {EMAIL}. [Read this newsletter on the web](. [Manage]( your newsletter preferences, [stop receiving]( this email, or [view]( our privacy policy. © 2023 [The Chronicle of Philanthropy]( 1255 23rd Street, N.W. Washington, D.C. 20037