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Funding cuts force nonprofits into influencer territory on YouTube, podcasts

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Cindy Eggleton has always believed in the power of a story.

But the CEO and co-founder of Brilliant Cities, a Detroit-based early childhood development nonprofit that supports learning in underserved communities, never expected someone to tell hers. And definitely not in a sleek documentary with a slick soundtrack and plenty of images of other Detroit institutions, such as General Motors, Diana Ross, and the historic Fox Theatre.

“It’s never been about me,” said Eggleton, adding that participating in the “Nevertheless: The Women Changing the World” documentary series on YouTube was her way of honoring her late mother, Geraldine, who inspired her to speak out and help others in their community.

However, as they face an increasingly uncertain funding landscape, nonprofits are focusing more on storytelling in outreach to donors – both big and small – and raising production values for videos and podcasts.

“Storytelling is how we’re able to draw people in and get them to connect to a deeper truth about themselves or about the world or a problem that needs to be solved,” said Elevate Prize Foundation CEO Carolina Jayaram Garcia. “It’s connecting those issues back to you as a human and not saying, ‘Well, that’s their problem. That’s all the way over there.’ The story allows it to be human.”

Elevate Prize Foundation launches its own documentary studio

The foundation launched the production house Elevate Studios earlier this year to tell more of those stories, Jayaram Garcia said. “Nevertheless: The Women Changing the World,” Elevate Studios’ first series, has already generated more than 3 million views on YouTube and will debut its second season in the summer of 2026.

“It’s been incredible to see the growth we’ve had on YouTube and how it’s resonated so quickly with so many people,” Jayaram Garcia said. “We know we’re on to something here.”

Philanthropic support of storytelling has been ongoing for decades, mostly through donors funding documentary projects. Open Society Foundations created the Soros Documentary Fund in 1996 before the Sundance Institute took it over in 2002, with the George Soros-backed nonprofit’s continued monetary support. The Ford Foundation formalized its funding plans in 2011, creating its JustFilms program that still supports 25-30 documentary films annually. Earlier this month, Firelight Media, a New York-based nonprofit supporting documentary filmmakers of color, launched the Firelight Fund, which will offer directors $50,000 grants for their projects.

But Lance Gould, founder and CEO of media strategy firm Brooklyn Story Lab, says what Elevate Prize Foundation and others are doing is different. He says it reflects both technological improvements that have lowered the cost of documentary storytelling and the rise of social media, which allows nonprofits to interact with donors directly.

“Being able to tell your story well is paramount,” said Gould, whose firm works with nonprofits to help them produce their own story-driven content. “But storytelling is not only about reaching viewers, it’s also about having the right message for the right viewers.”

He suggests that nonprofits connect their work to larger initiatives like the United Nations Sustainable Development Goals — an ambitious list of 17 efforts from eliminating extreme poverty and hunger to guaranteeing every child a quality secondary education by 2030 — to attract more attention and support.

How storytelling can strengthen connection

Gould, who was previously executive editor of The Huffington Post and editor in chief of The Boston Phoenix, said “everyone can be their own media company at this point.”

That’s a point Nicole Bronzan, vice president of communications and content for the Council on Foundations, hopes is not lost in the push for more storytelling.

“We don’t want people to feel that they have to make big technological investments in order to tell better stories,” Bronzan said. “We wouldn’t want anyone to feel like they have to have a big fancy studio, but certainly the news that folks are investing in storytelling is great for us and for the whole sector.”

In a Council on Foundations report released last year, “ A New Voice for Philanthropy: How Deeper Stories and Clearer Language Can Build Trust,” researchers, including Bronzan, reported that people had positive attitudes toward foundations, but most didn’t really understand how foundations worked. Bronzan said stories that provide more transparency about how donations are used and how those decisions are made help connect people to a nonprofit and its work.

“If you’re telling those stories,” she said, “I can only imagine that people will be more inclined to open up their pocketbooks and say, ‘Oh, OK, these are causes that need my support.’”

Documentary sparks donations

So far, that has been the case for Brilliant Cities, which saw an increase in donations after Eggleton’s episode debuted on YouTube.

“We have a funder who wants to increase his gift from $7,000 to $100,000,” said Eggleton, whose nonprofit turns a neighborhood’s vacant homes into community centers with family services ranging from tutoring to mental health support groups. She said new donors have also reached out. “It’s kind of incredible.”

Though Brilliant Cities doesn’t rely on federal funding for its services, Eggleton said government aid cuts have made a tough funding environment even tougher because the competition for non-governmental donations becomes even tougher.

“Everybody’s being told what’s being taken away,” she said. “People are pulling at grant officers and individuals with stock market gains. I think it’s more than the funding, though. I think it’s about really recognizing how the world already feels so disconnected and now feels even more so.”

Storytelling, Eggleton said, helps reduce that. By focusing on female changemakers, Elevate Studios makes an even stronger point, she said, adding she’s been quoting Spanish poet Antonio Machado — “There is no path/We make the path by walking” — as she explains the power of the series.

“This is the time that we really do need to figure out how we build empathy through stories and not necessarily saying, ‘You’re wrong or you’re right,” she said. “You just show the world what can be and what should be.”

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Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.



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Khosla-backed Formulary raises oversubscribed $4.6 million seed round for its AI-powered private fund manager software

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Alfia Ilicheva came from the world of public markets, including four years at one of the world’s largest hedge funds, Bridgewater. But when she transitioned over to the private side, including serving as the CEO of an Apollo-backed investment platform, she realized the difficulty of fund administration for operations like private equity and venture capital. Instead of having access to real-time and accurate data like at Bridgewater, which can rely on publicly available information, this new world was filled with manually compiled and fragmented data subject to human error and inconsistent metrics.  “How could it be that hedge funds are so into the future and private capital markets are so backward,” she remembers thinking. 

As private markets explode and AI makes automation increasingly possible, Ilicheva saw an opportunity to build the next generation of fund administration software for everyone from venture capital outfits to PE giants like Apollo. After initially planning to bootstrap the project, which she named Formulary, Ilicheva was introduced to Hari Arul, a partner at Khosla Ventures, who immediately saw the appeal of the idea. Khosla is leading Formulary’s $4.6 million seed round, which Ilicheva says is three times oversubscribed, with participation from Human Ventures, Serena Williams’s venture firm, and others. 

In the red-hot field of private investments, buoyed by the rise of private credit and massively valued companies like SpaceX and OpenAI, fund administration may not be the most alluring area for innovation. But the ability to track investments, returns, and performance—and accurately convey the information to investors, or limited partners—is a necessary foundation. 

The existing options fall into two camps: the service side, or high-touch accounting companies, like SS&C and Citco, or the software side, like Carta. As Ilicheva interviewed general partners and former clients in her user research, she realized that nearly everyone was dissatisfied with the existing options to the point that most turned to shadow fund administration, where they would hire outside firms but keep their own books at the same time. “When you raise a fund, your dream is to generate alpha by investing capital, not redoing someone’s work,” Ilicheva said. 

Ilicheva planned to find a happy medium between the two models by leveraging AI to massively scale up the service approach, creating software for their own in-house accountants, which Ilicheva playfully calls bionic accountants. “They’re really focused on having a grip on the numbers and delivering service, but they’re not manually entering things in an Excel spreadsheet, which has been the industry’s burden for the past decades,” she said.  

The challenge in creating a tech-enabled services company, of course, is scale, with a pure SaaS model able to grow at a much faster clip. When I asked Khosla’s Arul how he thought about the approach, he said the key is to deliver the vast majority of the product through technology: “It’s important for any entrepreneur or any investor to look at an AI-enabled services business and say, the margin of how this business runs looks more like a technology company than a services company.” 

Arul said that while Khosla is not yet using Formulary, which is just now coming out of stealth, he’s optimistic for a future where tedious processes like ensuring data accuracy for LPs can be fully, reliably automated. Ilicheva mentioned one possible future use case for Formulary as drafting LP letters, which Arul wholeheartedly endorsed, along with a portal where investors could communicate directly with the system to understand the value of positions, fund deployment, and future capital calls. “[That] sounds pie in the sky relative to what the reality is today,” Arul said, “But it doesn’t feel out of reach.” 

Leo Schwartz
X:
 @leomschwartz
Email: leo.schwartz@fortune.com

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Leaders at Davos are obsessing over how to use AI at scale

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  • In today’s CEO Daily: Fortune‘s AI editor Jeremy Kahn reports on the AI buzz at Davos
  • The big story: SCOTUS could upend Trump’s leverage to acquire Greenland.
  • The markets: Jolted by Trump’s renewed tariff threats.
  • Plus: All the news and watercooler chat from Fortune.

Good morning. I’m on the ground in Davos, Switzerland, for this year’s World Economic Forum. As Diane wrote yesterday, U.S. President Donald Trump’s arrival later this week along with a large delegation of U.S. officials eclipses pretty much every other discussion at Davos this year. But, when people here aren’t talking about Trump, they are talking about AI.

At Davos last year, the hype around AI agents was pierced by the shock of DeepSeek’s R1 model, which was released during the conference. We’ll see if a similar bit of news upends the AI narrative again this year. (There are rumors that DeepSeek is planning to drop another model.) But, barring that, business leaders seem to be less wowed by the hype around AI this year and more concerned with the nitty-gritty of how to implement the technology successfully at scale.

On Monday, Srini Tallapragada, Salesforce’s chief engineering and customer success officer, told me the company is using ‘forward deployed engineers’ to tighten feedback loops between customers and product teams. Salesforce is also offering pre-built agents, workflows, and playbooks to help customers re-engineer their businesses—and avoid getting stuck in “pilot purgatory.”

Meanwhile, at a side event in Davos called A Compass for Europe, that focused on how to restore the continent’s flagging competitiveness, AI was front-and-center. Christina Kosmowski, the CEO of LogicMonitor, told the assembled CEOs that to achieve AI success at scale, companies should take a “top down” approach, with the CEO and leadership identifying the highest value use cases and driving the whole organization to align around achieving them. Neeti Mehta Shukla, the cofounder and chief impact officer at Automation Anywhere, said it was critical to move beyond measuring automation’s impact only through the lens of labor savings. She gave specific customer examples where uplifting data quality, improving customer satisfaction, or moving more workers to new tasks, were better metrics than simply looking at cost per unit output. Finally, Lila Tretikov, head of AI strategy at NEA, said Europe has enough talent and funding to build world-beating AI companies—what it lacks is ambition and willingness to take big bets.

Later, I met with Bastian Nominacher, co-founder and co-CEO of process analytics software platform Celonis. He echoed some of these points, telling me that to achieve ROI with AI generally required three things: strong leadership commitment, the establishment of a center of excellence within the business (this led to an 8x higher return than for companies that didn’t do this!), and finally having enough live data connected to the AI platform.

For further AI insights from Davos, check out Fortune’s Eye on AI newsletter. Meanwhile, Fortune is hosting a number of events in Davos throughout the week. View that lineup here. And my colleagues will be providing more reporting from Davos to CEO Daily and fortune.com throughout the week.—Jeremy Kahn

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

This is the web version of CEO Daily, a newsletter of must-read global insights from CEOs and industry leaders. Sign up to get it delivered free to your inbox.



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Stock market today: Dow futures tumble 400 points on Trump’s tariffs over Greenland, Nobel prize

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U.S. stock futures dropped late Monday after global equities sold off as President Donald Trump launches a trade war against NATO allies over his Greenland ambitions.

Futures tied to the Dow Jones industrial average sank 401 points, or 0.81%. S&P 500 futures were down 0.91%, and Nasdaq futures sank 1.13%. 

Markets in the U.S. were closed in observance of the Martin Luther King Jr. Day holiday. Earlier, the dollar dropped as the safe haven status of U.S. assets was in doubt, while stocks in Europe and Asia largely retreated.

On Saturday, Trump said Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland will be hit with a 10% tariff starting on Feb. 1 that will rise to 25% on June 1, until a “Deal is reached for the Complete and Total purchase of Greenland.”

The announcement came after those countries sent troops to Greenland last week, ostensibly for training purposes, at the request of Denmark. But late Sunday, a message from Trump to European officials emerged that linked his insistence on taking over Greenland to his failure to be award the Nobel Peace Prize.

The geopolitical impact of Trump’s new tariffs against Europe could jeopardize the trans-Atlantic alliance and threaten Ukraine’s defense against Russia.

But Wall Street analysts were more optimistic on the near-term risk to financial markets, seeing Trump’s move as a negotiating tactic meant to extract concessions.

Michael Brown, senior research strategist at Pepperstone, described the gambit as “escalate to de-escalate” and pointed out that the timing of his tariff announcement ahead of his appearance at the Davos World Economic Forum this week is likely not a coincidence.

“I’ll leave others to question the merits of that approach, and potential longer-run geopolitical fallout from it, but for markets such a scenario likely means some near-term choppiness as headline noise becomes deafening, before a relief rally in due course when another ‘TACO’ moment arrives,” he said in a note on Monday, referring to the “Trump always chickens out” trade.

Similarly, Jonas Goltermann, deputy chief markets economist at Capital Economics, also said “cooler heads will prevail” and downplayed the odds that markets are headed for a repeat of last year’s tariff chaos.

In a note Monday, he said investors have learned to be skeptical about all of Trump’s threats, adding that the U.S. economy remains healthy and markets retain key risk buffers.

“Given their deep economic and financial ties, both the US and Europe have the ability to impose significant pain on each other, but only at great cost to themselves,” Goltermann added. “As such, the more likely outcome, in our view, is that both sides recognize that a major escalation would be a lose-lose proposition, and that compromise eventually prevails. That would be in line with the pattern around most previous Trump-driven diplomatic dramas.”



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