Amazon founder Jeff Bezos’ fund to reinforce homeless families introduced $117 million in new grants on Tuesday to organizations around the U.S. and Puerto Rico, which is part of a $2 billion dedication Bezos made in 2018 to reinforce homeless families and to run loose preschools.
That brings the volume granted via the Bezos Day 1 Families Fund to receive advantages homeless families to almost $640 million.
Bezos’ spouse, former news anchor Lauren Sánchez, who may be the vice chairman of the Bezos Earth Fund, thanked the grantee organizations in a video posted to each her and Bezos’ social media accounts.
The Salvation Army of Greater Charlotte gained a 2d grant this yr after first being awarded $5 million via the fund in 2018. Deronda Metz, director of social services and products, stated they may be able to use the investment in additional versatile techniques than the federal government grants they obtain, together with to renovate a 100 room resort, rent further team of workers and make bigger the power for an on-campus Boys & Girls Club.
Rents rose sharply in her town following the pandemic, because it did in many cities, that means that extra families are shedding their housing and that the price of getting them into flats has risen, she stated.
“When you have flexible dollars in a rental market like this, you could pay your high rent, you could pay a higher deposit,” Metz stated.
The fund works with an advisory board of professionals from organizations just like the Urban Institute and the National Coalition for Homelessness to determine attainable grantee organizations who would possibly then put up investment proposals for attention.
Amanda Andere, leader govt officer of the nationwide community, Funders Together to End Homelessness, prior to now served at the fund’s advisory board. Her group does not at once fund nonprofits however advises philanthropic donors within the house with a focal point on racial justice.
“Ultimately, we believe philanthropy can’t end homelessness alone, can’t be a gap filler,” Andere stated. “And so the most effective strategy is funding advocacy, policy, activism, organizing in order to lever government change.”
Funders Together estimates that about $2.2 billion in philanthropic investment went to housing and homelessness in 2021, drawing on information from the group Candid, which compiles information about charitable giving. That’s an excessively small quantity when put next to annual govt budgets for housing, together with $59.7 billion for the dep. of Housing and Urban Development in 2021.
“We know that the Bezos Family Fund is probably less likely to support things like advocacy, organizing or activism, but giving general operating support to an organization allows them the flexibility to direct funds to other things that might help them be a part of more community organizing or engaging people with lived experience,” so as to push for adjustments to the whole device of housing, she stated. General running reinforce method grant investment that has no or few restrictions at the investment can be utilized.
The Bezos Day 1 Families Fund didn’t give a time frame for when the pledged $2 billion can be granted out or what portion would move to homeless families.
Bezos stepped down as CEO of Amazon in 2021 to spend extra time on his different initiatives, together with the rocket corporate, Blue Origin, and his philanthropy. He and Sánchez informed CNN ultimate yr that they had been committed to giving away the majority of his wealth inside of his lifetime. The couple has no longer signed the Giving Pledge, which asks billionaires to make a an identical dedication.
Last yr, Bezos gave away $122.2 million and has pledged round $12.8 billion in charitable donations, in accordance to The Chronicle of Philanthropy. His mom, Jacklyn Bezos, and her husband Miguel, proficient $710 million to the Seattle-based Fred Hutchinson Cancer Center in 2022.
Bezos and Sánchez pledged $100 million within the aftermath of the wildfires in Maui, and Bezos has additionally given a $100 million to Dolly Parton, chef José Andrés and CNN commentator Van Jones with the request that they provide the finances away to nonprofits.
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