How Philanthropists Are Responding To COVID19

Most people might not associate philanthropy with the novel coronavirus known as COVID-19. However, the virus and its impact, have taxed systems and organizations that assist citizens. Now, perhaps more than ever, those who are in a position to donate can spread their charity to those causes.

Some philanthropists are wary of giving to charity without vetting an organization, even if it is a nonprofit. Those organizations that can provide information about how exactly funds and their use may be more likely to be the recipients of charitable giving than organizations that do not provide this information. Two such groups that have done this include the Seattle Foundation, created to provide financial assistance to community charities that help those people impacted by COVID-19 as well as the similar he New York Community Trust.

Of course, philanthropists don’t have to look for new places to donate money. Many organizations have had to cancel fundraising events, and the loss of funds can damage their annual budgets. They might consider expediting their philanthropy schedule and distributing funds that have already been earmarked for donation.

Philanthropist Connie Ballmer, the wife of former Microsoft CEO Steve Ballmer, recently took the initiative to give to the University of Washington Medical Center, a designated COVID-19 testing center, which was struggling to continue testing while waiting for the government to provide additional funds. Those who have the means to give can similarly help organizations bridge the gap before government funds become available.

Although some people are experiencing a sudden economic crisis because of their inability to work, others recognize the opportunity that their financial position offers. According to Schwab Charitable, clients of the group had increased, giving 31 percent compared to the same period last year, and around 3,400 of those grants went to coronavirus-related charities. Some foundations have even investigated if they could loosen or alter grant restrictions to allow more organizations to qualify.

In an attempt to stop covid19 through charities, philanthropists are talking to politicians about what response is necessary during this crisis.

Originally published at https://davidshorenstein.net.

David Shorenstein is a Real estate Owner based out of New York, who, in his personal life, is dedicated to philanthropy. Learn more http://davidshorenstein.com/