Well, philanthropies are contributing a lot when it comes to addressing social issues of inequality. Philanthropic responses are on the rise, and they adopt unique approaches to support Nonprofits’ efforts.
To name a few, Knight Foundation announced $3 million to help journalists to combat misinformation while Draper Richards Kaplan Foundation launched an $80 million impact investing fund to address complex social issues.
Recently, American Express has committed $50 million to support nonprofits globally as part of a $1 billion plan aimed at promoting racial equity. Intending to advance its diversity, equity, and inclusion priorities, the company plans to award $50 million in grants by the end of 2024 to nonprofits led by people of colour or members of underrepresented groups, including organizations working to address inequality and promote social justice.