Under a new strategy announced today, the Ford Foundation will double the amount it provides to grantees to cover administrative overhead costs and steer $1 billion over five years toward strengthening social-justice organizations. At the same time, it will cut its support of several initiatives, including LGBT rights in the United States, direct cash transfers in Latin America, and microfinance.
The grant strategy fleshes out a broad shift first laid out in June, when the grant maker announced that it would direct all of its work toward reducing inequality.
"We have had an ongoing dialogue with our current portfolio of grantees about our evolving strategy," said Darren Walker, the foundation’s president. "Those grantees who are being transitioned have already been given notice. We are providing final grants to a number of those organizations."