The philanthropic sector can make significant contributions in the US and around the world to economic growth and justice.
The challenge of promoting shared prosperity in the US and around the world is multi-faceted. Redstone works with funders, nonprofits, and public agencies to combine rigorous analysis with a systemic view that enables our clients to achieve a more just and prosperous society in partnership with the communities they serve.
In New York City, the New York City Food Assistance Collaborative seeks to ensure the equitable and efficient delivery of emergency food resources to residents in need. To support the Collaborative, Redstone performed geospatial analyses, but also conducted extensive interviews with community members and food pantry managers to understand their needs.
Elsewhere in the US, Redstone supported a consortium of funders and nonprofits in launching a large-scale fund to develop and preserve affordable housing in a major metropolitan area. We aided employment-focused social enterprises in a rural, persistent-poverty region in developing a participant-informed impact measurement approach that integrates economic indicators with empirically validated measures of well-being. A new philanthropic program also worked with Redstone to develop outcome-focused strategies for racial justice in the legal system and better long-term solutions for housing and homelessness, combining insights from directly impacted individuals and data-driven analysis into a strategy that leverages policy and narrative change, mission investing, and targeted services for impact at scale.
Additionally, our clients have engaged Redstone on efforts to improve equitable economic development globally. The Center for Global Development and Redstone worked together to improve how it chooses and evaluates its work to reduce poverty and inequality. Their refined approach calls for greater focus on outcomes by creating a logic model for choosing projects, estimating the expected return of prospective initiatives, and setting metrics and targets to monitor progress. The goal is to put more money into the hands of low-income people in developing countries as a result of the organization’s investments in research.
Our work on shared prosperity has its roots in the firm’s founding. Early in the firm’s history, a consortium of funders and NGOs worked with Redstone to design and carry out an innovative $100 million program to conserve the Great Bear Rainforest while facilitating local economic development such as fisheries and cultural ecotourism. The ecosystem-based management at the heart of the undertaking tied ecological integrity to human wellbeing.
We produced a novel analytical tool for the project that allocated funding to assist with both development and conservation in the region based on participants’ territories, populations, conservation commitments, and overlapping land claims. This tool helped to inform negotiations between the Canadian Government, the Government of British Columbia, the First Nations Governments, and conservation organizations associated with the consortium. In our work across sectors, we seek ways to help more people share in the benefits of equitable economic growth.