This report from Grantmakers for Effective Organizations (GEO) explores how flexible, reliable funding such as multi-year general operating support is a critical strategy for advancing equity in philanthropy. Drawing from research, interviews, and practical examples, it demonstrates how these funding approaches build trust, shift power, and strengthen the effectiveness of grantee organizations, particularly those led by and serving BIPOC (Black, Indigenous, and People of Color) communities. The report offers actionable guidance for funders to adopt equitable grantmaking practices through trust-based relationships, shared learning, and strategic flexibility.