Philanthropy Wired Newsletter

Philanthropy Wired – April 2020

The world has changed, and the new coronavirus economy is reshaping how we work and live

The world has changed, and the new coronavirus economy is reshaping how we work and live. A compelling article in The Washington Post lays out the short- and long-term shifts that affect us all and in some cases, provide opportunity. From inception, S. Sutton & Associates Inc. has provided our clients local perspective and global knowledge enabled by operating remotely.

As a fully remote firm, we can provide access to a global network of subject experts to help nonprofit organizations and philanthropists maximize their philanthropic efforts and achieve significant impact. And, as can be seen from the notices of amazing philanthropic activity in this edition of Philanthropy Wired Abbreviated, those with financial capacity and ability are stepping up. The firm has been part of this call to action as we have seen a surge in activity with the philanthropists that we advise and are honored to be facilitating such generosity.

That said, the challenges ahead for the nonprofit arena are now even more pronounced. A recent article in Canada’s Globe and Mail shocked with the headline Canadian Charities call for $10-billion stabilization fund to weather coronavirus crisis. The news was sobering and the ramifications for all those employed and served by the nonprofit sector can’t be understated.

We can help. S. Sutton & Associates Inc. differentiates itself from other consulting firms through customized Innovation Teams of highly skilled technical experts assembled to meet the client’s unique needs. This highly flexible proprietary model allows us to apply the time and talent of the technical experts assembled, to the specific area of need, for only as much time as required. Our teams thus outperform high-level generalists by providing deep subject expertise, which would otherwise be cost-prohibitive, while also assuring the clients only pay for what they need and are not charged for unwarranted services and expertise beyond the scope of their requirements.

Thanks to our network of subject experts, we stand ready. It’s going to be a long road, but together we’re better.

– Former New York City Mayor Michael Bloomberg announced his charitable organization, Bloomberg Philanthropies, will be donating $40 million to coronavirus-related causes. The former presidential candidate said the charity would be organizing a Coronavirus Global Response Initiative to ensure that low- and middle-income nations have rapid funding to mitigate the spread of the COVID-19 virus in their countries with a focus on helping nations in Africa.

– The Jack Ma Foundation and Alibaba Foundation announced the publication of a digital handbook that shares lessons and experience from frontline doctors, medical administrators and staff in fighting the coronavirus in China. The report focuses on the experience of the First Affiliated Hospital at the Zhejiang University School of Medicine.

– Billionaires around the world are contributing to efforts to counter the COVID-19 pandemic and the damage it is dealing to the global economy, but Italy’s wealthiest have been focusing on the battle at home. Altogether, Italy’s billionaires have given more than $44 million in donations to hospitals, healthcare facilities and government agencies since the crisis began in February.

– Khalaf Al Habtoor, founding Chairman of Al Habtoor Group (AHG), has announced a generous aid to help fight the novel coronavirus, Covid-19, in UAE. Al Habtoor is donating 50 ambulances to the UAE health authorities, to be used in the country’s fully integrated response against the coronavirus. In addition to the ambulances, the AHG Chairman has also allocated a fully equipped building of more than 100 rooms to Dubai Health Authority (DHA), for the purpose of quarantining coronavirus affected patients. He has also committed to building a specialized laboratory for research on viruses and epidemic control, in collaboration with the DHA and Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU).

– In a major philanthropic gesture, Emirati businessman Abdul Rahim Al Zarooni, Chairman of the Board of Al Zarooni Group, announced the donation of Dh10 million to ensure all healthcare centers and clinics have adequate medical supplies during the current sensitive period. Al Zarooni stressed the importance of UAE citizens contributing to the fight against coronavirus, noting that it is their national duty to come together to ensure the country remains a model for security, safety and happiness.

– Lemonade, the insurance company powered by artificial intelligence and behavioral economics, announced the formation of The Lemonade Foundation, a nonprofit organized under IRC section 501(c)(4). Lemonade, Inc., a for-profit Public Benefit Corporation, by unanimous vote of its board and shareholders, has donated shares valued at over $20 million as a founding endowment to The Lemonade Foundation. This is in addition to the company’s embedded Giveback program, in which it donates a portion of its underwriting profits to nonprofits chosen by its customers.

– The New York Community Trust, a community foundation, announced a $75 million fund to support New York City-based social services and cultural nonprofit organizations affected by the coronavirus pandemic. The fund’s donors include a host of billionaires such as media titan Michael Bloomberg, medical equipment company heir Jon Stryker and hedge fund founder Ken Griffin. The fund, administered by the New York City Community Trust, will provide grants and interest-free loans to small and mid-size nonprofits with annual budgets up to $20 million (not including government contracts).

– Wells Fargo will donate $175 million to help communities deal with the COVID-19 pandemic, the bank said Friday. The contributions will focus on housing stability, small business and financial health. Donations will be made through an expedited grant-making process, the bank said. While most have yet to be made, the bank announced that it would give a $1 million grant to Feeding America.

– Businesses, large and small, have had to close their doors in a collective effort to curb the spread of the coronavirus pandemic. While the economic impact of prolonged closures is predicted to be drastic, it hasn’t stopped some of Baltimore’s most recognizable businesses from lending a hand during the pandemic. Under Armour, BGE, T. Rowe Price, Ravens and Orioles are just some of the Baltimore businesses and organizations that have donated money and resources to help fight the new coronavirus.

– The foundation of Greenwich billionaire Ray Dalio and his spouse Barbara announced Friday it will devote $4 million to support Connecticut hospital workers statewide and address immediate food needs during the coronavirus pandemic, joining a growing list of corporate and private philanthropy efforts.

– Singer Rihanna’s non-profit organization, the Clara Lionel Foundation, has donated $5 million to coronavirus response efforts. The charity will be supporting Direct Relief, Partners In Health, Feeding America, the International Rescue Committee and World Health Organization’s COVID-19 Solidarity Response Fund as they continue to fight the pandemic in the US, the Caribbean and Africa. The funds will help to provide communities with critical protective gear, medical supplies, equipment and access to food.

– To fight the coronavirus pandemic, Vedanta chairman Anil Agarwal has pledged a sum of Rs 100 crore. Agarwal said he wants to do his bit in helping the people who are facing uncertainties and especially the daily wage earners after many districts across several states go under a lockdown threatening those at the bottom of the pyramid of the economy.

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