Insights and Strategies for Impactful Giving to Latin America and the Caribbean
Myriad USA held the second webinar in our international giving series on Insights and Strategies for Impactful Giving to Latin America and the Caribbean. Moderated by Sheena Agarwal, Myriad USA’s Chief Partnerships Officer, this session featured the expertise of Caroline Kronley, President of the Tinker Foundation and Board Member at Myriad USA, and Monica Carrillo Zegarra, Director for Latin America and the Caribbean at Myriad USA. The discussion highlighted the importance of the region, the diversity and complexity of its needs, and the evolving trends in donor interests and giving mechanisms.
Read the highlights below for the key takeaways and watch the entire session recording here.
Diversity and Complexity of the Region
Caroline Kronley kicked off the conversation by highlighting a startling statistic: only about 6% of international grant funding from large U.S. foundations goes to Latin America, with the Caribbean receiving even less. This underfunding is a missed opportunity, given the region’s pivotal role in addressing global issues such as climate change and migration.
Despite this, Latin America boasts a vibrant civil society with large, sophisticated organizations driving important conversations and innovative solutions. The region is not a monolith; it encompasses 33 countries and more than 560 indigenous languages, and each country has its own unique cultural and socio-economic landscape. This diversity makes the region a rich and varied landscape for philanthropic engagement.
Donor Interests and Trends
The speakers shared some key areas where they see donors currently focusing their efforts:
- Education: While access to basic education has improved, issues of quality and equity persist, especially after the pandemic.
- Human Rights: With 75% of funding for human rights in Latin America coming from the U.S. philanthropic community, donors of all sizes play a critical role in supporting a vibrant, equitable civil society and ensuring access to rights for people across the region.
- Environmental Programs: There is a noticeable shift from traditional conservation efforts to supporting Indigenous and Afro-descendant self-governance and sustainable practices.
Innovative Giving Mechanisms
Several mechanisms are making philanthropic giving more engaging and effective:
- Co-funding Models: Collaborative funding efforts, involving both foundations and individual donors, are addressing specific issues like education.
- Pooled funds and new donors: The rise of emerging philanthropists, particularly Gen Z, who are passionate about issues like climate change, the Amazon, and mental health, is driving the growing popularity of pooled funds and multi-donor DAFs. These new donors are increasingly attracted to innovative giving mechanisms that align with their values and interests.
- Intermediary Platforms: Organizations like Myriad USA are crucial in connecting US donors with local organizations, ensuring that funds are used effectively.
Navigating the Regulatory Landscape
Caroline and Monica addressed the varied regulations affecting civil society and philanthropy. They emphasized the importance of working with trusted partners and local funds to navigate these complexities and ensure compliance. They also noted the unique landscape of the region in which regional funds are often important layers and conduits to identifying and funding trusted, hyperlocal initiatives given various cultural and language barriers.
The conversation provided valuable insights into the opportunities and challenges of philanthropic giving to Latin America and the Caribbean, emphasizing the importance of strategic, informed, and collaborative approaches to making a meaningful impact in the region. For those looking to learn more about strategic investments into the region or trusted local partners, reach out to our team to learn more about ways that Myriad USA can be your giving partner.
You can watch the entire session recording here.
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This webinar is presented by Myriad USA, the leading resource for philanthropic giving overseas – a trusted advisor to individuals, families, corporations, and foundations seeking to support their favorite causes, anywhere across the globe. Discover our full portfolio of services at https://myriadusa.org/services/.