Novel Giving Strategy - Letting Nonprofits Decide How to Use Funding

credit: c/o Columbus Coalition for the Homeless file photos via CrowdRise

Jeff Bezos, founder, CEO, and president of Amazon.com, decided to try something different with his new billion-dollar charity, Day One Families Fund.

Bezos, through his charity, announced that he would give $2 billion to boost homelessness services and early childhood education in the US.

He granted $100 million to two dozen nonprofits working to provide shelter to homeless families across the country.

Based on Recode’s interviews with eight of those funded by Bezos and others familiar with his donations, he has done something that even the nonprofits receiving his millions remark is highly unusual: He has given them life-changing money with virtually no restrictions, formal vetting, or oversight.

In fact, multiple experts told Recode this strategy actually makes a lot of sense. There are still risks, but with proper oversight, this strategy could actually work.

According to Recode, the hope is that Bezos's emerging strategy will "challenge the conventional wisdom that a long leash is a bad thing for a nonprofit."

Read the Entire Article

A customized collection of grant news from foundations and the federal government from around the Web.

How's Your Community Doing?
Check Out it's
Community Vital Signs

Philanthropic Follies

The Wall Street Journal profiles the new book \"The Good Rich and What They Cost Us.\" According to the reviewer, the book, which covers over two centuries of American philanthropy, posits that...more

Financial Aid Information Session Hosted by Kalamazoo Community Foundation
Foundation: Kalamazoo Community Foundation

The Wall Street Journal profiles the new book \"The Good Rich and What They Cost Us.\" According to the reviewer, the book, which covers over two centuries of American philanthropy, posits that...more

As Asian-American Population Grows So Does Philanthropy in the Communities
Foundation: American India Foundation, Korean American Community Foundation

The Chronicle of Philanthropy highlights a New York Times article focusing on the growth of Asian American philanthropy. Asian-Americans who have built fortunes in finance and technology are...more

Mary Kay Foundation Awards Grants

Waypoint Madge Phillips Center Shelter has recently received a $20,000 grant from The Mary Kay Foundation in observation of National Domestic Violence Awareness Month in October. According to Anne...more

Paulding Education Foundation Awards $7,500

Paulding Education Foundation has recently awarded $7,500 to Paulding schools as a result of the foundation\'s School Grant Program. Recipients include South Paulding High School, Austin Middle...more

Make-A-Wish Foundation Crapo Park Walk Fundraiser

The Make-A-Wish Foundation will be holding its big fall fundraiser, a walk around Crapo Park in Burlington to help grant wishes of children with life-threatening illnesses, raising on average $8,600...more