A New Domain for Place-Rooted Foundations: Economic Development Philanthropy

This article introduces economic development philanthropy as a new domain for place-rooted foundations, emphasizing their crucial system-actor role in fostering economic development for better outcomes for families and communities. It highlights the need for foundations to identify and fill gaps not addressed by other organizations, ensuring a value-added role. The piece also offers initial insights into building a movement of foundations embracing social entrepreneurship to advance an economy that benefits all, encouraging further discussion on their role in this movement.