The Council on Foundations has announced a new five-year strategy that sets forth a twenty-year vision focused on improving philanthropic practices to increase trust, improve relationships, and advance equity in the philanthropic sector.

Motivated by a vision of philanthropy as a trusted partner in advancing the greater good, COF's new strategic direction urges philanthropy to, among other things, create trusted partnerships by letting go of control and power, earning trust, and enabling others to lead; diversify the leadership table, which in turn will improve ideas, relationships, and results; and collaborate more closely with other philanthropies as well as nonprofit, government, and community partners to advance equity and effect lasting change. To that end, over the next twenty years COF will work to help the sector embrace better ways of operating within organizations, build common ground between organizations, and expand opportunities for philanthropy to thrive.

Specific efforts will include helping to close diversity gaps in leadership through fellowships, leadership development opportunities, and peer networking; providing dedicated support to leaders who serve as "levers of change" within organizations; offering foundations a supportive on-ramp for starting their DEI journey; creating connections through peer cohorts, advisory groups, and Philanthropy Exchange, COF's peer-to-peer sharing platform; serving as a supportive partner and convener for multi-sector initiatives and resources on collaboration best practices; advocating for laws and regulations that advance the greater good, enable diverse philanthropic endeavors to thrive, and spur the growth of charitable giving, including cross-border giving, without increasing wealth inequality; and promoting more accurate narratives about who participates in philanthropy.

"At a time when philanthropy faces mounting critiques, the Council on Foundations will support the field to restore trust in philanthropic institutions in the United States and around the globe," said COF president and CEO Kathleen Enright. "We can build trust by ensuring our field is constantly striving to be more diverse, inclusive, and ethical. The council will guide philanthropy in this work with the ultimate aim of helping more people see themselves as part of philanthropy because we have successfully advocated for a fairer application of tax incentives, challenged the boards and staffs of philanthropic organizations to match the rich diversity of the populations they serve, and ensured that flexible grantmaking practices that build trust with nonprofits are the norm."

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