Latest Philanthropy News

Major funders call for increased support of Black feminists

Jan. 26, 2023 11:50 AM EST

The need to increase funding for Black feminist organizations is urgent, according to an open letter released Thursday from some of philanthropy’s most influential organizations including Melinda Gates’ Pivotal Ventures, Rihanna’s Clara Lionel Foundation, as well as the Ford Foundation and...

AmazonSmile's end is alarming, say nonprofits that benefited

Jan. 25, 2023 12:25 PM EST

Amazon's surprise decision to shut down its AmazonSmile donation program has left thousands of its nonprofit beneficiaries disappointed and concerned about finding ways to replace the funding. The e-commerce giant had launched AmazonSmile in 2013, contributing 0.5% of every purchase...

Foundation empties coffers to fund Black paper in Baltimore

Jan. 19, 2023 13:41 PM EST

In a rare move for philanthropy, Adam Holofcener and his family emptied their foundation’s coffers and gave $1 million — nearly all the money it had left to give — to support Lisa Snowden-McCray’s dream: a free newspaper staffed by Black editors and writers in Baltimore to provide news...

Gates Foundation takes up question of its own power

Jan. 17, 2023 11:30 AM EST

Does The Bill & Melinda Gates Foundation have too much power and influence? It's a question the foundation's CEO Mark Suzman raised in its annual letter released Tuesday that outlines the organization's priorities and announces its budget for the coming year. With $8.3 billion...

Fidelity pledges $250 million to support minority students

Jan. 17, 2023 09:05 AM EST

Fidelity Investments will commit $250 million to a new education initiative to support up to 50,000 underserved minority students with scholarships and mentorship programs in the next five years. The Invest in My Education program, announced Tuesday, plans to increase graduation...

Q&A: FedEx founder, veteran Fred Smith offers unusual gift

Jan. 11, 2023 11:47 AM EST

Fred Smith, the founder of FedEx, believes that if you've done well, you should give back to the public interest. The 78-year-old Marine Corps veteran stepped down as FedEx's CEO last year, but remains its executive chairman. The billionaire rarely publicizes his and his family's...

Film helps renew search for 1st Black Navy pilot's remains

Jan. 11, 2023 11:47 AM EST

The film “Devotion” reignited efforts to repatriate the remains of Jesse Brown, America's first Black Navy pilot, who died in 1950 after having to crash land his damaged plane during the Korean War. Fred Smith, the founder of Memphis-based FedEx, financed the film about Brown...

Damar Hamlin's toy drive: What's the plan for the $8.6M?

Jan. 10, 2023 19:49 PM EST

NEW YORK (AP) — Buffalo Bills safety Damar Hamlin plans to support young people through education and sports with the $8.6 million in GoFundMe donations that unexpectedly poured into his toy drive fundraiser after he suffered a cardiac arrest in the middle of a game last week. He...

White House gun violence program with philanthropies ends

Jan. 04, 2023 08:14 AM EST

NEW YORK (AP) — It was small, as Washington celebrations go — two senior Biden administration advisers gathered with program participants near the White House on a Thursday afternoon in December to mark the end of a little-known initiative with a budget of less than $8 million. ...

Bill Gates made 2022's biggest charitable donation

Dec. 30, 2022 17:37 PM EST

The Chronicle of Philanthropy’s annual list of the 10 largest charitable gifts announced by individuals or their foundations totaled nearly $9.3 billion in 2022. The contributions went to large, well-established institutions, three of them private foundations and three universities to support...