Mary Donnan and Victor Farmer discuss two projects in the Fifth District that illustrate the challenges of economic development in rural communities and the importance of philanthropic organizations in addressing those challenges. They also reflect on how the Richmond Fed's Community Investment Training program helped move the projects forward. Donnan is executive director of the Alleghany Foundation and Farmer is director of the Boone Memorial Health Community Foundation.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2025/speaking_2025_09_10_rural_philanthropy