The Bay Area-based social impact start up is on a mission to #ResetPhilanthropy, through trust-based and equitable grantmaking.
SAN FRANCISCO, Oct. 12, 2021- JustFund, the first and only nonprofit grantmaking platform created by funders and organizers of color, announced today a major milestone in its mission for equitable grantmaking, now having moved $100 million to community-based and BIPOC-led organizations. Since its launch in 2017, JustFund has worked with more than 400 grantmakers including The Ford Foundation, East Bay Community Foundation, Way to Rise, The Emergent Fund, Decolonizing Wealth and helped amplify the work of more than 4,000 organizations.
Designed to support those who are seeking and distributing charitable funds through a streamlined grantmaking solution, JustFund is on a mission to reset philanthropy, to disrupt the traditional way money moves, and eliminate the barriers and bottlenecks that limit philanthropic dollars from reaching chronically under-resourced nonprofits and communities. According to a report by GrantStation, about 40% of grant applications typically take a week or more and cost organizations up to $5,000, creating a barrier for smaller nonprofits, particularly those that are BIPOC-led to access funding. JustFund seeks to simplify the application process for grantseekers, who use a common proposal to apply to multiple funds at once.
“We recognize that money moves at the speed of trust,” said Iara Duarte Peng, founder and CEO of JustFund. “Our human-centered approach to grantmaking ensures grantmakers can move critical resources in a values-aligned, trust-based, and equitable way. Through our common proposal, expert support, and seamless process, we’ve moved critical resources in a timely way to organizations, most of whom have been historically excluded from traditional philanthropy, which has become an increasingly expensive and exclusive process.”
JustFund utilizes a common proposal, providing grantmakers with basic information about the organization, their work, their team, their financial need, as well as visibility into who else is already funding the organization. The nonprofit also supports participatory grantmaking practices and drastically expands charitable organizations’ access to new financial resources. JustFund’s common portal aggregates proposals into a searchable database made available to individual donors, donor advisors, and foundation staff to “find and fund” new organizations.
“When we were ready to launch our first RFP, the #Case4Reparations, we were keen to keep the burden low and the process smooth,” noted Edgar Villanueva, principal of Decolonizing Wealth Project/Liberated Capital. “JustFund’s common proposal and stellar support team put our vision for Liberated Capital’s grant application experience into action. Because of JustFund’s streamlined process, we were able to launch our second RFP, the #IndigenousEarthFund in a matter of days, which means we’ll be able to redistribute money faster and more efficiently.”
In addition to streamlining the grantmaking process, JustFund is challenging the inherent imbalanced power dynamics and barriers in philanthropy that exclude smaller, grassroots organizations, especially those led by people of color. According to a recent report, BIPOC-led organizations receive only 4% of all philanthropic dollars, and only about 9% of grantmaking from foundations goes to communities of color. And in 2020, the unrestricted net assets of Black-led organizations remained 91% smaller than white-led organizations that focus on the same work.
“For all the intended good, philanthropy often perpetuates the same social and economic inequalities that it seeks to alleviate. JustFund eliminates the most common barriers and bottlenecks,” said Peng. “Seeking and distributing funds in a simple and equitable way shouldn’t come at the cost of anyone’s core values. That’s why JustFund is more than a platform or a tool to simplify grantmaking. We’re a growing community of values-aligned funders and organizations who put equity at the center of their work, and we’re ready to reset philanthropy, together.” For more information about JustFund, visit https://justfund.us.
About JustFund
JustFund, the only nonprofit grantmaking platform created by funders and organizers of color, streamlines the grantmaking process and makes the ability to seek and distribute funds simple, easy, and equitable. Committed to resetting philanthropy, JustFund is disrupting old models of giving and building new ones that are values-aligned, trust-based, and rooted in equity. Learn more about JustFund on its website: https://justfund.us.
Contact
Mission Partners, Benefit LLC
Nimra Haroon [email protected]
