Amazon founder Jeff Bezos’ fund to help homeless households introduced $117 million in new grants on Tuesday to organizations throughout the U.S. and Puerto Rico, which is part of a $2 billion dedication Bezos made in 2018 to help homeless households and to run free preschools.
That brings the quantity granted by the Bezos Day 1 Households Fund to profit homeless households to virtually $640 million.
Bezos’ accomplice, former information anchor Lauren Sánchez, who can also be the vice chair of the Bezos Earth Fund, thanked the grantee organizations in a video posted to each her and Bezos’ social media accounts.
The Salvation Military of Larger Charlotte acquired a second grant this 12 months after first being awarded $5 million by the fund in 2018. Deronda Metz, director of social providers, mentioned they will use the funding in additional versatile methods than the federal government grants they obtain, together with the renovation of a 100 room resort, hiring further workers and increasing the ability for an on-campus Boys & Ladies Membership.
Rents rose sharply in her metropolis following the pandemic, because it did in many cities, which means that extra households are shedding their housing and that the price of getting them into residences has risen, she mentioned.
“When you have flexible dollars in a rental market like this, you could pay your high rent, you could pay a higher deposit,” Metz mentioned.
The fund works with an advisory board of specialists from organizations just like the City Institute and the Nationwide Coalition for the Homeless to determine potential grantee organizations who might then submit funding proposals for consideration.
Amanda Andere, chief government officer of the nationwide community, Funders Collectively to Finish Homelessness, beforehand served on the fund’s advisory board. Her group doesn’t instantly fund nonprofits however advises philanthropic donors within the area with a deal with racial justice.
“Ultimately, we believe philanthropy can’t end homelessness alone, can’t be a gap filler,” Andere mentioned. “And so the most effective strategy is funding advocacy, policy, activism, organizing in order to lever government change.”
Funders Collectively estimates that about $2.2 billion in philanthropic funding went to housing and homelessness in 2021, drawing on knowledge from the group Candid, which compiles details about charitable giving. That’s a really small quantity in comparison with annual authorities budgets for housing, together with $59.7 billion for the division 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,” with a view to push for modifications to the general system of housing, she mentioned. Common working help means grant funding that has no or few restrictions on the funding can be utilized.
The Bezos Day 1 Households Fund didn’t give a timeframe for when the pledged $2 billion could be distributed or what portion would go to homeless households.
Bezos stepped down as CEO of Amazon in 2021 to spend extra time on his different initiatives, together with the rocket firm, Blue Origin, and his philanthropy. He and Sánchez instructed CNN final 12 months that they have been committed to giving away the majority of his wealth inside his lifetime. The couple has not signed the Giving Pledge, which asks billionaires to make an analogous dedication.
Final 12 months, Bezos gave away $122.2 million and has pledged round $12.8 billion in charitable donations, based on The Chronicle of Philanthropy. His mom, Jacklyn Bezos, and her husband Miguel, gifted $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 funds away to nonprofits.
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