The Philadelphia Foundation will be crowdsourcing its donations with its new initiative in allowing the public to select the winners of $1 million worth of grants.
The Philadelphia Foundation will choose 15 key finalists for its Key to Community Grant, where the public can vet who they want to receive the grant funding.
The grant finalists are split into three key areas, including career training, financial equity, and community engagement.
In choosing the public to vote for their favorite finalist, the Philadelphia Foundation is aiming at transparency in letting the public know where and how the funds are being spent.
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The government-backed Social Investment Research Council is newly formed to hatch practical insights into social investment market products, and the investors needed to finance them.