A foundation is a nonprofit organization created with the express purpose to give away money to individuals or charitable organizations.
Posts Tagged ‘foundation’
A Foundation is…
Tuesday, August 2nd, 2011Following Gates, Co-Founder Of Microsoft Plans To Donate $13.5 Billion
Thursday, July 15th, 2010Billionaire co-founder of Microsoft plans to leave the majority of his fortune to philanthropy.
- Paul Allen is worth an estimated $13.5 billion and has announced that he’s donating most of it to continue the work of the Paul G. Allen Family Foundation.
- This public announcement was in response to Bill Gates’ and Warren Buffet’s campaign to encourage billionaires to donate half of their wealth to charity.
- Allen’s Foundation was started 20 years ago, and it has distributed 3,000 grants totaling about $400 million.
- For the most part, the Foundation has remained local (Pacific Northwest) and personal.
Facts and Figures
- Paul Allen is 57 years old.
- Forbes ranked Allen as the 37th richest person.
- Allen has donated approximately $1 billion in his life to date.
Best Quote
“As our philanthropy continues in the years ahead, we will look for new opportunities to make a difference in the lives of future generations.” – Paul Allen, Co-Founder of Microsoft
The Rocky Relationship Between Philanthropy And Government
Tuesday, June 29th, 2010The federal government and philanthropic programs have always struggled to get along, but they’re trying to put their differences aside to help programs grow.
- The government sometimes has a hard time following through on promised funding to nonprofits. For example, $50 million that might have been allocated to Teach for America’s 2011 budget met calamity when political pressure cut the funds completely.
- Program funding is moving away from direct government disbursements and toward foundations with grant applications and matching programs.
- As budgets are expected to tighten, the relationship between philanthropy and the government will only become more complicated.
Facts & Figures
- Teach for America received $18 million in the 2010 federal budget.
- The Investing in Innovation Fund, run by the Department of Innovation, gives up to $50 million to education programs that are able to match 20% of the grant with private money.
- 12 foundations have pledged over $500 million that they will use to either match winners or help programs that do not win government money from the fund.
Best Quote
“Partnership with government is going to continue to be hard. We should pursue it but with a sober recognition there will be curves ahead on the road that you can’t see coming.” – David Gergen, Professor at Harvard’s Kennedy School of Government
Paul McCartney is involved with PETA?
Thursday, January 7th, 2010Yes, that is right, the former Beatle is a spokesperson for PETA (People for the Ethical Treatment of Animals). There are many reasons why celebrities would get with a involved a charity, foundation, or organization.
The most important reason is that celebrities can bring attention to a cause that may otherwise be ignored – ordinary people tend to notice when famous people do things, including an advertisement or a commercial for a specific charity. Charities will often ask a high-profile individual to attend a benefit or a function for these purposes.
The celebrity has his or her reasons also. Any PR rep would tell you that having your name attached to a charitable cause is good press and good exposure. Additionally, a lot of celebrities do not want to seem one-dimensional, and being part of a charity or foundation shows their multi-dimensionality. Finally, for some it is a personal issue: Sheryl Crow, a survivor of breast cancer, is one of the main proponents for the nonprofit Stand Up To Cancer.
A Public Foundation is…
Wednesday, August 5th, 2009A public foundation is an organization where no more than 50% of the funding is donated by a private individual or a single company/firm. In other words, the funding for a public foundation can come from anywhere, as long as it’s diversified.
A Funding Cycle is…
Thursday, July 30th, 2009A funding cycle is a schedule that donor organizations use to research and decide where they are going to give grants – some might give grants annually or quarterly or at other intervals, but they usually have a set cycle. This allows organizations that are looking for money to know when they should get applications in and do all the work necessary to receive money.
A Trustee Is…
Monday, July 27th, 2009A trustee is a person or member of a board chosen to direct the funds and the policies of an institution, often a charity or a foundation.