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Researchers have noted that newer, advocacy-oriented philanthropists have been more willing to fund entities outside traditional higher education circles, specifically intermediary organizations (IOs). Frequently, many of these IOs have been engaged in policy and advocacy work, often associated with the college completion agenda. Despite increased media attention, little empirical work has been done to investigate this trend in philanthropic investments. By relying on an original data-set of nearly 8,000 higher education grants, as well as semi-structured interviews and secondary data, this study investigates this funding pattern. In addition, this study builds on the current literature by examining the motivations and rationales behind these trends.