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Over the past decade, there have been growing criticisms that philanthropic foundations, which include a variety of grant making organizations, are elitist and inattentive to the needs of marginalized communities. While private foundations and community-based grant makers across the globe have slowly responded to these critiques, COVID-19 and the racial justice movement of 2020 have highlighted the imperative of addressing issues of inequality and structural racism. This convergence is propelling what may be the most substantial change in philanthropy in generations—a commitment to systematic change and the adoption of philanthropic practices that seek to redistribute philanthropic power to previously marginalized communities.