GIFT was started in 1996 by the Center for Third World Organizing and the Southern Empowerment Project, two longtime organizing training centers. They believed that grassroots groups working for social change needed an organization to teach fundraising skills and support people of color to be fundraisers. The Grassroots Fundraising Journal was co-founded in 1981 by Kim Klein and Lisa Honig, who saw that most of the resources on nonprofit fundraising are not applicable to grassroots groups, especially those challenging and changing the status quo.
GIFT and the Grassroots Fundraising Journal merged in 2008. The new organization continues to be called GIFT and the magazine it publishes is still called the Grassroots Fundraising Journal.