Funders reached out to The Bridgespan Group to better understand how they might respond quickly and effectively to COVID-19. In response, The Bridgespan Group drafted this memo to provide initial perspectives on where resources might be productively channeled. It is based on their experience supporting nonprofits and NGOs working in public health and funders active in global health and disaster recovery, and on conversations with experts working on the COVID-19 response. Their perspectives have been further shaped by their research on inequity in funding for organizations led by people of color. This is a rapidly changing environment, and they anticipate that these perspectives on philanthropic opportunities will evolve as the pandemic unfolds.