Letter from the 2025 Annual Report
Folks,
As we look back on this year, it’s clear that our social sector and the communities it serves have faced real strain. The cost of living remains high. Funding to frontline organizations is declining. For many of our partners, serving those most in need has become harder. These challenges are real, and we should acknowledge the uncertainty that so many organizations and families feel today.
In moments like this, the McGowan Fund turns to its mission and vision as our North Star:
To impact lives today, create sustainable change, and empower future generations to achieve their greatest potential.
This simple statement grounds us. It guides every grant decision, and its clarity allows us to respond quickly when circumstances shift. It has gotten us where we are today, 32 years strong, having distributed over $200 million in grants, investments that we believe have strengthened our communities, expanded opportunity for the people we serve, and supported core organizations during both the “easy” and the difficult times. The McGowan Fellows Program continues to develop leaders at top business schools, now with more than 150 alumni. And this year, we were honored to present the Ethical Leader of the Year Award to Brian Moynihan of Bank of America, recognizing his long-standing commitment to responsible leadership in business and society.
Over the past year, we focused on the essentials: shelter, food, health, and education. Early in the year, as food insecurity surged, we provided $1 million in direct support to food banks across our communities. We also created an emergency grant mechanism to help partners meet urgent needs when they arise. These steps reflect our commitment to living our values and to supporting grantees who live those values every day.
At the same time, we need to be honest: Resources across the sector are increasingly scarce. That reality demands intentional, impactful giving. And it highlights something fundamental about our work—people. Nonprofits employ people, develop people, and serve people. Strong, stable workforces are essential to long-term impact. Our role is to help organizations build that strength, supporting staff who stay, grow, develop new skills, and carry forward institutional knowledge that benefits entire communities.
We cannot expect nonprofits to do more with less forever. But those able to strengthen their operations, integrate new tools like AI, and direct more capacity toward service delivery and workforce development will be best positioned to meet this moment.
Though the landscape is challenging, there is genuine reason for optimism. The resilient nonprofit sector that has been built over generations exists for times like these. Investments from organizations like the McGowan Fund help lift individuals out of poverty, support families through crisis, and open pathways to opportunity, especially when the need is high.
If we stay rooted in our values and continue to support strong, adaptive community organizations, we can keep advancing our mission: to impact lives today, create sustainable change, and empower future generations to achieve their greatest potential.
Thank you,
William P. McGowan, Chair
Brian Peckrill, Executive Director