Foreword 3

Acknowledgements 4

Editorial 5

Abbreviations and acronyms 12

Executive summary 14

1 Overview: Philanthropy's role in global development finance 17

1.1. Understanding philanthropy for development with comprehensive data 18

1.2. Global trends shaping philanthropy for development 19

1.3. How co-financing networks shape philanthropic collaboration 22

1.4. How foundations operate: Giving, learning and collaborating 24

1.5. Looking ahead: Recommendations for unlocking, leveraging and scaling philanthropy's contribution to development 26

Notes 29

References 29

2 Trends in private philanthropy for sustainable development 31

2.1. The evolution of private philanthropic flows in 2020-2023 32

2.2. Geographical allocation and sources of funding 36

2.3. Sectoral allocation and key areas of foc us of philanthropy funding 53

2.4. Foundations' support of cross-cutting priorities: Gender equality and climate action 65

Notes 83

References 85

3 Philanthropy: A strategic development partner 89

3.1. How foundations give: Implementation modalities of philanthropy for development 90

3.2. Inside foundations: Investment strategies, non-financial support and learning systems 97

3.3. Philanthropy's adaptation to multi-dimensional crises: Lessons for future practice 110

3.4. Mapping philanthropic networks: Collaboration and co-financing among philanthropic donors 123

3.5. Mobilising philanthropy for locally led development: From commitment to effective integration 141

Notes 152

References 153

4 Conclusions and way forward 157

4.1. Key findings 158

4.2. Recommendations 163

Notes 167

References 168

Annex A. Methodology 169

Annex B. Sample: List of organisations 175

Annex C. Currency conversions 187

References 188