How The Philanthropy Industry Is Aiding The Fight Against Covid19

As the coronavirus pandemic rages on and there seems no end to the pandemic for some, philanthropists are rapidly expanding their efforts against Covid19 and its devastating effects. David Shorenstein explains the actions philanthropists are taking to combat Covid19.

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Covid19 has created a new normal. Many businesses are forced into closing. Schools in many states are out of session. School closures have become a big issue, as some children rely on school lunches to get by. Theaters, museums, and aquariums are closed to the public. The cancellation of sporting events is growing. The elderly must be careful about where they go since they’re at particular risk. In this environment, many families have needed help. There’s been a real need for philanthropists to get involved. Corporations have answered the call in a big way.

There are some great examples of financial institutions giving back to their communities. Bank of America has pledged $10 million in grants to organizations faced on community economic development. Vanguard’s Start Strong for Kids program has given $2 million to Philadelphia’s Emergency Fund for Stabilization of Early Education. The Visa Foundation has pledged $70 million to NGOs and nonprofits.

Some beloved brands have answered the call, too. Pepsi and its foundation have pledged a total of $45 million to charities globally. In the US, they’ve earmarked almost $16 million to help families access food for their children. Their rival, Coca-Cola, has committed $2 million to the Covid19 Response Fund of the Center for Disaster Philanthropy. 

Many sports teams and their stars have stepped up in a big way, too. Sidney Crosby of the NHL’s Penguins donated 100,000 meals to the Greater Pittsburgh Food Bank. Stephen Curry of the Golden State Warriors and his wife, Ayesha, have given generously to the Alameda County Community Food Bank. Their foundation, Eat, Learn, Play, is designed to help young people, and they recognize that many kids rely on public schools for food. Chicago’s United Center became a hub for PPE donations and food distribution for the community.

Other foundations are also highly involved in charity. The J Paul Getty Trust has established a $10 million fund to aid Los Angeles’ nonprofit museums and visual arts organizations. The Chan Zuckerberg Initiative has provided $5 million for relief efforts in San Mateo County and the rest of the Bay Area. Finally, the Robert Wood Johnson Foundation has pledged $50 million in relief to people who need food, housing, and other essentials due to the Covid19 pandemic.

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