September 25, 2024
Episode 10 of “Break Fake Rules” challenges philanthropic structures that warehouse wealth
This month, we’re lucky to have author and rulebreaking philanthropist, Jennifer Risher on Break Fake Rules. It’s rare to hear a philanthropist speak so candidly about money, power, and the problematic mechanics of the wealth management system, but Jennifer is not your typical funder. As an investor, philanthropist, and co-founder of #HalfMyDAF, Jennifer advocates for open dialogue about money and the tools donors can use to disrupt the philanthropic practices that sideline wealth. As Jennifer underscores,
“Philanthropy has these ways of carving out money and setting it aside. Is there another way to think about what to do with money that exists in this world? Shouldn’t we be thinking about different ways of activating it now?”
Meet Jennifer Risher
Jennifer Risher is an author, speaker, philanthropist, and investor focused on gender, racial, and economic equity. Her book, “We Need to Talk: A Memoir About Wealth” explores the impact of wealth on identity and relationships with the goal of acknowledging and validating the emotional complexities of money. She believes that when we have a more comfortable relationship with our money, we are in a better position to fuel positive change. In response to COVID, Jennifer and her husband, David co-created #HalfMyDAF to inspire more giving. Through #HalfMyDAF, they’ve contributed millions in matching funds, rallied donors and nonprofits, and built a community that has put over $65 million to work at nonprofits. Jennifer has also been investing in underserved communities and with women-of-color fund managers. Jennifer and David live in San Francisco where David is CEO of Lyft. Jennifer loves playing and watching tennis and spending time with her two twenty-something daughters. She is on the board of Women Moving Millions and is a member of Women Donors Network and Solidaire.
Episode 10: “We Need to Talk About Money” with Jennifer Risher
Listen to the full episode wherever you get your podcasts.
In Jennifer’s conversation with Glen, she puts it plainly, “Philanthropy is getting in the way of itself.” Jennifer shares several fake rules she encountered along her philanthropic journey, as well as the pushback she faced from financial intermediaries when she set out to get money moving. Among the fake rules that alarmed her most was the tax-exempt money sitting and growing in donor-advised funds (“DAFs”). Without regulations for minimum payout requirements, the wealth in DAFs nationally has grown to $228.89 billion as of 2022, the second highest year on record after 2021. Learn how Jennifer and her husband David co-founded #HalfMyDAF to incentivize donors to unleash money sidelined in DAFs during COVID, and how they are using it to disrupt philanthropic structures and move money to communities who need it today.
Watch the abbreviated episode on YouTube or listen to the full discussion wherever you get your podcasts.
Through #HalfMyDAF, Jennifer is inspiring donors to reject structures that amass wealth and instead embrace practices that move money into communities closest to the problems. Do you have a donor-advised fund or know someone who does? Learn more about this grassroots donor-led movement and how you can leverage matching grants through #HalfMyDAF.
Want to hear more from Jennifer? Check out her book, “We Need to Talk: A Memoir Wealth”, an open and honest account of Jennifer’s story navigating the impacts of wealth on identity and relationships.
“We often hear about assets under management. And what I want to hear is assets under movement. I want to hear how much money has been deployed, how much money has been put to work. I want that to be the benchmark of what people are proud of.”
Jennifer Risher
Up Next
It’s almost a wrap for “Break Fake Rules”! Next month, tune into our season finale with special guest, Julián Castro, filmed live at the National Center for Family Philanthropy Forum. Julián recounts the fake rules he broke throughout his inspiring career in politics and government. Hear how he is working to harness the power and leadership of Latinos as the new Executive Director of the Latino Community Foundation.
Stay tuned for details on Stupski’s Instagram and LinkedIn.
Want to keep breaking fake rules?
Check out previous episodes of “Break Fake Rules” on your favorite podcast platform and Stupski Foundation’s YouTube channel. We want to hear from you. Which fake rules do you want to see philanthropy break next? Share your thoughts with us on YouTube, and join the conversation with Glen on LinkedIn.
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