Spend-Down Strategies, Democracy Funding, and the Future of Philanthropy

Elizabeth J. Dale’s contributions to the Johnson Center for Philanthropy’s 11 Trends in Philanthropy for 2025 provide timely insights into the evolving landscape of philanthropy.

Her first chapter, “More Foundations Opt for Planned Lifespans and Spend-Down Strategies” explores the growing trend of foundations deciding on a strategic spend down, highlighting how prominent figures like Warren Buffett are reshaping the norms of perpetual giving. By examining both limited-life and spend-down foundations, Dale discusses the implications of accelerated grantmaking on philanthropic impact and strategy, noting how these approaches challenge traditional endowment models.

In her second chapter, “The Movement to Fund Democracy is Learning Important Lessons,” Dale analyzes the rising investments in democracy-related funding, particularly in response to increasing concerns about election integrity and polarization in the United States. She traces the surge in grants supporting voting rights, informed citizenry, and civil discourse since the 2016 election cycle, emphasizing the challenges and opportunities facing funders in this critical area. Dale’s analysis not only addresses the complexities of funding democracy efforts but also raises essential questions about philanthropy’s role in safeguarding civil society.

Together, these chapters reflect the overarching themes of 11 Trends in Philanthropy for 2025, which examines the sector’s response to societal challenges, the evolving role of funders, and the strategies shaping the future of philanthropy. Dale’s contributions add depth to the volume’s exploration of how philanthropic practices can adapt to meet urgent demands for equity and democratic integrity.

Elizabeth J. Dale, Ph.D., joined the Johnson Center in September 2024 as the second holder of the Frey Foundation Chair for Family Philanthropy, the world’s first endowed chair for family philanthropy. She previously held a faculty position and directed the Nonprofit Leadership Program at Seattle University and was the Visiting Eileen Lamb O’Gara Fellow in Women’s Philanthropy at Indiana University.

Dr. Dale has authored or co-authored more than 20 publications and reports for both scholarly and practitioner audiences, which have been published in Nonprofit and Voluntary Sector Quarterly, Journal of Philanthropy and Marketing, Voluntary Sector Review, The Foundation Review, Philanthropy and Education, and several prominent edited volumes. Her scholarship has focused on social justice philanthropy, women’s giving and giving to women’s and girls’ causes, LGBTQ+ philanthropy, and couples’ charitable giving, as well as gender and the fundraising profession. Ultimately, Dr. Dale seeks to understand the power and potential of philanthropy, the role of identity in giving, and the role of philanthropy in contributing to a more just, equitable, and inclusive society.