# kaal:claim:4685567-009

**Claim.** The absence of an efficient marketplace lets big dollar donors hijack the priorities of impact intermediaries such as foundations, donor advised funds, NGOs and fiscal sponsors, producing a feast or famine pattern for fundable projects.

**Type.** failure  **Support.** argued

**Holds when.**

- intermediated philanthropy without a central marketplace

**Source quote.**

> Because of the lack of an efficient marketplace, impact intermediaries, such as foundations, DAFs, NGOs, and fiscal sponsors, among others, often experience their priorities being hijacked by big-dollar donors. This often results in a feast or famine situation for fundable projects in Impact 1.0.

**From.** Wulf A. Kaal, *Impact Investing Innovation - From Impact 1.0 to 3.0* (2024), Impact 1.0, page 12

**Cite as.** Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

**Verify.** sha256 of source PDF `87fb1be89d2661967ed2b0b673fe26448ded3bc3119b122177a4fc13ae5c085c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202024%20-%20Impact%20Investing%20Innovation%20-%20From%20Impact%201.0%20to%203.0.pdf

**Failure mode.** Priority Hijacking by Large Donors  (family: plutocratic-capture)

**Topics.** regulatory-failure

**Keywords.** intermediary-capture, donor-power, feast-or-famine, impact-1-0

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.