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Latest: Foundations

Anti-poverty nonprofit the Stand Together Foundation unveiled a nationwide push to invest more than $7 million to support as many as 500 nonprofit organizations and leaders in its Catalyst Program by 2025. The foundation has since 2016 committed $100 million to fuel innovation to build stronger, safer communities where all people can learn, contribute, and realize their full potential, according to information in the announcement. “We look for community leaders…

The Ford Foundation announced a five-year, $25 million grant to sustain and strengthen the global movement calling on governments at all levels to invest in protections for the world’s 2.1 billion informal workers as a central component of economic recovery plans. This funding comes ahead of the 109th session of the International Labour Conference (ILC), where representatives of governments, employers and informal workers from 187 countries…

Private equity firms have finalized the acquisition of Fluxx, a grantmaking platform for private and public organizations based in San Francisco, Calif. Terms of the deal were not disclosed. The private equity firms involved are a syndicate led by Metamorph Partners, a private equity firm that specializes in B2B SaaS businesses and co-investor ABS Capital Partners, a growth equity firm that has been investing in…

Change.org, which provides petition and campaign tools for social change, is now under the ownership of the nonprofit Change.org Foundation. Change.org had been founded in 2007 as a Public Benefit Corporation — a for-profit entity that includes specific public benefits as part of its charter. Change.org will continue to operate as a Public Benefit Corporation entirely owned by the Change.org Foundation. More than 50 investors,…

Private and community foundations realized solid return on investments during 2020, but their spending didn’t necessarily reflect those gains, according to the Council on Foundations-Commonfund’s Study of Investment of Endowments for Private and Community Foundations. The 147 private foundations and 83 community foundations participating in the survey represent $115.4 billion in assets. Foundation leaders are examining how they invest, in terms of responsible practices or…

The CDC Foundation announced support to more than 150 community-based organizations (CBOs) throughout the United States with more than $30 million to promote COVID-19 vaccination and reduce the disease’s burden. The announcement comes as the highly contagious Delta variant continues to spread throughout the United States, leading to sharp increases in cases, hospitalizations and deaths among the unvaccinated. The work of CBOs has been critical…

The MacArthur Foundation announced another $80 million in Equitable Recovery grants, part of $125 million in social bonds issued in response to the pandemic. MacArthur joined four other foundations last year in committing to $1.7 billion over three years by issuing debt — instead of drawing on billion-dollar endowments — to help stabilize nonprofits impacted by the pandemic and social injustice. As we emerge from…

A new coalition, The Justice and Mobility Fund, is heading an effort to help lift the economic fortunes and provide opportunities to people previously impacted by the criminal justice system. The coalition starts with an initial investment of $250 million, $145 million of which has already been distributed to nine organizations. It is a collaboration launched by New York City-based philanthropy model Blue Meridian Partners,…

Members of the Sackler family will be prohibited from any new naming rights in connection with charitable or other donations during the next nine years while they pay $4.325 billion as part of a settlement with states. The resolution to Purdue Pharma’s bankruptcy filing also requires the Sacklers to transfer control of $175 million in assets held by family foundations to trustees of a foundation…

The Trimount Foundation, New York City, which owns a Tiffany-designed mansion currently housing the Boston-based Bayridge Residence and Cultural Center, is looking to sell the mansion. The property usually boards 50 non-married female scholars who are studying at one of nine Boston-based higher learning institutes. This revenue stream dried up in 2020 after the coronavirus pandemic resulted in the loss of scholar housing fees, along…

Two West Virginia United Ways are the latest affiliates to announce a merger. The merger is at least the second this year for United Way affiliates. Two Indianapolis, Ind.-area affiliates announced a merger in March. The Tygart Valley United Way is a consolidation of the United Way of Marion and Taylor Counties with the United Way of Randolph County. The combined entity will serve five…

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