Foundations to focus on diversity; some hurt by pandemic – poll

Diversity is a top priority in 2021 for foundations, which also report being "significantly" changed by the COVID-19 pandemic, according to a flash poll conducted by NEPC in March.

Of the organizations polled, 31% had more than $1 billion in assets, 27% had between $250 million and $1 billion, and 34% had between $100 million and $250 million.

Compared with 2019, 46% of foundations reported that donations increased more than 10%, and another 19% reported increases between 5% and 10%.

NEPC found that the pandemic significantly changed philanthropy and donor behavior, with small community foundations the hardest hit.

Foundations will continue to focus on racial inequity, with 87% expecting to see increased donations to combat it in 2021, and 91% reporting increased grant-making to address racial and social justice issues, and 83% reporting that for health care-related causes.

Diversity will be a chief priority for 7 in 10 foundations, the poll found, with 71% planning to hire more women- and minority-led asset managers and 70% increasing the diversity of their investment staff.

Asked about fossil-fuel divestment, 75% reported no plan to do it, while 25% said it is being considered.