(Session co-organized with Postcode Lottery). Philanthropies have the agility and capital to invest in innovative solutions in an era of compounding global threats to people and the planet. Yet, philanthropy is often misrepresented as either the world’s last resort financier or a de-risker of projects that cannot be funded by public or private capital. Philanthropy can provide longer-term core funding to organisations that are closer to the frontline. Grantees have been asking for more flexible, non-earmarked funding for a long time, as general operating support may help address the ‘starvation cycle’ in which non-profit organisations struggle to cover their overhead costs. Some foundations follow this approach, providing multi-year funding, allowing implementing partners to adopt a long-term perspective and be more adaptable. However, this trust-based approach to philanthropy is far from being the norm. In addition to core funding, pooling resources has become indispensable to achieve impact at scale. Yet, collaboratives and funding vehicles or development bonds are still the exception. This session will discuss the ways in which large foundations have been innovating in how they partner with grantees, from core flexible support to joining pooled funds and aligning with government priorities.