Pearl Initiative convenes corporate donors to discuss funding for impact

Pearl Initiative convenes corporate donors to discuss funding for impact

- Philanthropy in the GCC is estimated at $210 billion annually and is continuously growing

- Surveys show that 76% of non-profits claim that measuring impact is a top priority, yet only 29% report being effective at demonstrating outcomes

Sharjah: The Pearl Initiative, a business-led non-profit organisation focused on promoting a corporate culture of accountability and transparency in the Gulf region's private sector, recently held a virtual convening titled ''Funding for Impact” as part of its Governance in Philanthropy programme. The session explored the ways in which philanthropic donors can enable lasting positive social change with their giving, notably through assessing the progress and measuring the impact of their giving. It was attended by members of the ‘Circle’, a peer-to-peer network comprising institutional and individual donors connected to the Middle East, jointly established and powered by the Pearl Initiative and Philanthropy Age.

The session featured keynote speaker, Kevin Starr, CEO of the Mulago Foundation, a private foundation focused on high impact philanthropy. Kevin shared insights on the importance of taking accountability for impact and the critical role of funders in the philanthropic space. He explained that many donors have the goodwill and drive to make positive change but must learn to define their