Philanthropy and COVID-19 Measuring One Year of Giving

In August 2020, Candid and the Center for Disaster Philanthropy (CDP) looked at the philanthropic dollars that were distributed for COVID-19 in the first half of 2020. In the report, they found that total philanthropic funding awarded for COVID-19-related efforts during the first six months of 2020 dwarfed funding for other recent disasters. They also found that, despite many foundations’ commitments to providing flexible support for grantees, few awards in the data set were specifically identified as general support. And only 5 percent of foundation and public charity funding that specified recipients was designated for Black, Indigenous, and people of color (BIPOC) communities, despite these populations being disproportionately affected by the pandemic.

In this report, they provide an update and look at the global
philanthropic response to COVID-19 in all of 2020. Some key findings:

— They identified more than $20 billion awarded for COVID-19
globally in 2020.
— Corporations accounted for 44 percent of the funding.
— Community foundations awarded more grants than any other
grantmaker type (54 percent of total awards).
— Gifts by high-net-worth individuals accounted for at least
$5.8 billion.
— An additional combined $14.6 billion was donated through the
donor-advised funds of Fidelity Charitable, Schwab Charitable,
and Vanguard Charitable.
— Of U.S. COVID-19 philanthropy to specified recipients, 35 percent of
dollars was explicitly designated for BIPOC communities. Because
of MacKenzie Scott’s large donations, high-net-worth donors
designated a higher proportion of funding for BIPOC communities
than institutional philanthropy (corporations, foundations, and
public charities).