The Red Backpack Fund — The Spanx by Sara Blakely
Partnering for nimble crisis response
In the early months of Covid-19, the SPANX by Sara Blakely Foundation sought to support the recovery and revitalization of female entrepreneurs affected by the crisis. Sara wanted to focus on women-owned organizations across the country, regardless of whether they were a nonprofit or for-profit, and she wanted to move fast. The SPANX by Sara Blakely Foundation had never tried to process such a large number of grants, to both nonprofits and for profits, under such urgent time pressure. The Foundation worked with WFPC to partner with Global Giving and create The Red Backpack Fund, which made 5 million dollars of rapid donations to female entrepreneurs, both for-profit and nonprofit. The Red Backpack Fund provided $5,000 to each entrepreneur — the exact amount Sara Blakely used to start Spanx 20 years ago. Enthusiastic members of the public contributed additional funds to The Red Backpack Fund as well.