Weekly Reads—May 2, 2024

Enjoy PEAK’s weekly roundup of timely insights from the grantmaking community and beyond.

“In just a short period of time, the use of AI tools has become a big part of how organizations operate. The more integral AI becomes to an organization’s work, the more imperative it is to implement an AI policy to help mitigate risks, establish operational standards, and prepare for future advancements in AI technology.” [more]
Astrid Vinje, Candid

“While Demographics via Candid simplifies processes for funders, a recurring theme of the session was its many benefits for nonprofits and the importance of communicating these to grantees. Grantee benefits include shorter grant applications, streamlined reporting, making it easier for funders to discover organizations representative of the communities they serve, and making it possible for grantees to track their progress over time.” [more]
Janet Camarena, Candid

“Endowments can be transformative for nonprofits, especially those representing traditionally underserved populations and working to close gaps, and deserve a closer look as an effective strategy for funders to advance equity. Recent CEP research shows that funding nonprofit endowments is not a widespread practice. Yet, endowments offer financial stability and innovation—both essential for impact—and are correlated with long-term growth and sustainability, which equity work requires.” [more]
Sonia M. Pérez, UnidosUS, for The Center for Effective Philanthropy

The GivingTuesday Resource Exchange is “a tool for the social sector, designed to inspire and support generosity worldwide by equipping sector leaders and researchers with the latest research, insights, and resources from peers in the sector. Over the past few years, staying up to speed on new materials in this ever-evolving sector has become more difficult, but the GivingTuesday Resource Exchange gives practitioners a new way to stay up-to-date on current developments.” [more]
GivingTuesday

“The federal Office of Management and Budget (OMB) has announced major reforms to the Uniform Guidance, the set of common rules governing most federal grantmaking to charitable nonprofits, state, local, and Tribal governments, and others. The reforms correct longstanding challenges in the government grants process that have limited nonprofit effectiveness, discouraged qualified organizations from seeking and performing under federal grants, and wasted billions of dollars and countless hours in needlessly complex reporting requirements. Specifically, the revisions to the OMB Uniform Guidance, which becomes effective October 1, 2024, address longstanding problems in recovering actual costs, advance equity by removing bureaucratic barriers, and make other significant reforms that will reduce burdens and costs of seeking, performing, and reporting on grants using federal funds.” [more]
National Council of Nonprofits