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Impact investing manages $1.5 trillion. The industry has never measured whether any of it reaches nonprofits. But nonprofits have not built for capital either — most projects end at outcomes without asking who benefits economically and whether that value can sustain the work. The failure belongs to both sides. The architecture that works already exists. Neither side has adopted it. Hits all three beats — the industry failure, the nonprofit failure, and the forward-looking pr

Grant dependency is not a funding problem. It is a power problem. When NGOs build durable non-grant revenue, foundations lose leverage they never earned — and both parties get better. Three recent analyses by Jan Masaoka, Stephanie Beasley, and Joanne Sonenshine converge on this territory from the funder side. None asks the question from the nonprofit side. This post names the self-reinforcing loop that keeps the current dynamic in place confronts a scale mismatch the sector

When profit and purpose collide in NGOs, governance – not avoidance – keeps commercial revenue aligned with mission and beneficiaries

The Alt Funding Field Guide asks who captures value when our work succeeds — and why they are not paying to sustain it. What it reveals about digital inclusion is true across the entire nonprofit sector. The binding constraint is not capital scarcity. It is mechanism scarcity.