Collaborative funds are one of the fastest-growing forms of giving, pooling resources from multiple donors to tackle problems that are too big, too complex, or too interconnected for any single funder to solve alone.

Collaborative funds have become an increasingly prominent vehicle in philanthropy—but surprisingly little research has examined how they actually work from the perspective of the organizations they serve. This study set out to change that.

As philanthropies implement their strategies, engage in learning, and assess their impact over time, changes to who, what, and how they fund are inevitable, but how they manage those transitions can make or break the impact they have worked hard to build.

Foundations that decide to sunset—to fully spend down their endowments over a set period—have the opportunity to allocate their substantial resources to catalyze change and support sustainable resourcing for organizations and movements.