10 multimillion-dollar donations that will change the world
Foundations and philanthropists are paying up to $25 million or more to help tackle problems of poverty, disease, poor education...
By Kerry A Dolan
Great fortunes beget great gifts and, more than ever, philanthropists and prominent foundations are donating up to $25 million or more to help tackle problems of poverty, disease, poor education, and more.
Boston's Bridgespan Group found 74 such donations in 2016, totaling $6.7 billion. Their panel of outside experts ranked the 10 listed below as the most promising.
1. The Global Fund to Fight HIV/AIDS, Tuberculosis, and Malaria
Donors: Bill and Melinda Gates Foundation
600 million dollars
This donation, which reaches a total of 12,900 million dollars together with other donors, aims to save 8 million lives and prevent another 300 million from contracting these diseases. The organization also plans to increase efforts against threats like Ebola and Zika. It operates by investing in locally managed programs where the need is greatest.
2. Innovative Vector Control Consortium
Donor: Bill and Melinda Gates Foundation
$75 million
Funds go toward the continued development of a trio of insecticides to prevent the spread of malaria and other diseases. In 2005, the Bill and Melinda Gates Foundation funded the IVCC with two $50 million grants. The 2016 $75 million donations will support the organization for five years as the development of the new insecticides continues. This is part of the foundation's broader strategy to eliminate malaria in conjunction with the Global Fund and other grants.
2. Nurse-Family Partnership
Donor: Blue Meridian Partners
$33 million
Helps fund the expansion of Nurse-Family Partnership home visiting programs in the United States. and improve pregnancy and other health issues for 100,000 low-income young mothers and their children. The average mother served by the Nurse-Family Partnership is unmarried, 19 years old, and lives on an annual household income of $9,000. The donor, Blue Meridian Partners, is collaborating with multiple multi-million dollar donors, including Stanley Druckenmiller, Connie and Steve Ballmer, George Kaiser, Sergey Brin, and David Tepper.
4. The Susan G. Komen African-American Health Equity Initiative
Donor: Fund II Foundation
$27 million
This Komen program seeks to reduce the black/white breast cancer mortality gap in 10 U.S. metropolitan areas within five years. Black women are 40% more likely to die from breast cancer than white women, with the disparity as high as 74% in some cities. The donor, Fund II Foundation, was established in part by Vista Equity Partners, led by Robert F. Smith.
5. Tobacco Control
Donor: Michael Bloomberg/Bloomberg Philanthropies
$360 million
Based on the $600 million he has given since 2007, the former mayor of New York aims to reduce tobacco use in developing countries, where tobacco use remains widespread. The initiative aims to save 100 million lives by 2050. "Reducing tobacco use is one of our best opportunities to save lives and prevent suffering because we know that tough policies really do make a difference..." said Bloomberg.
6. Youth Villages
Donor: Blue Meridian Partners
$36 million
Donations will help launch and fund YVLifeSet, a program to help the 23,000 Americans who grow out of the adoption system each year, assisting their transition to independent adulthood.
The program matches young adults transitioning out of state custody (or other situations) with specialists, meeting weekly for six to 12 months. In 2016, the program served approximately 2,500 youth. Youth leaving foster care are statistically the most vulnerable in America; by age 21, more than 50% have no money for food or rent, more than 25% are high school dropouts, close to 50% are unemployed, and more than 20% experience homelessness.
7. Alliance for the Green Revolution in Africa
Donor: Rockefeller Foundation
50 million
AGRA works to help small farmers in Africa triple or quadruple their production through better technology and storage. Although agricultural production in Africa has increased by 160% in the last three decades, Africa remains a net importer of food. AGRA has set three goals for 2020: reduce food insecurity by 50% in 20 countries, double the income of 20 million farming families, and put at least 15 countries on the path to significant increases in crop yields.
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8. Cohen's Veterans Network
Donor: Steven and Alexandra Cohen
$275 million
The hedge-funder and his wife founded this network of 25 clinics that treat veterans (and their families) with post-traumatic stress and other ailments free of charge. Approximately 20% of the more than 2.6 million Americans who have served in the military during the last 14 years of war experience post-traumatic stress or traumatic brain injury. Of those suffering from mental health problems, approximately 40% do not seek treatment, and in 2014, nearly 7,400 veterans, or about 20 per day, took their own lives. The clinics will open in the next three to five years to serve 25,000 patients annually. By the end of 2017, the organization plans to have ten clinics up and running.
9. United Negro College Fund
Donor: Fund II Foundation
$48 million
The foundation's money will go toward mentoring, internships, and college scholarships for African-American students interested in careers in STEM (science, technology, engineering, and math) fields. Although African Americans make up more than 13% of the US population, they only earn 8% of STEM degrees and comprise less than 5% of the science and engineering workforce and less than 1% of the workforce. of work in financed technology startups. The Foundation will fund a scholarship program administered by the United Negro College Fund over five years to provide $20,000 to 500 youth, including a stipend for an internship or special project.
10. Building Equity Initiative
Donor: Walton Family Foundation
$250 million
Founded in 1997, the Walton Initiative funds low-interest loans to nonprofit lenders who help charter schools across the country secure and improve their facilities. The Walton Family Foundation is partnering with Civic Builders, a nonprofit facility developer, to manage the initiative. Together they will work with local education nonprofits in up to 20 cities.
Donations to universities, hospitals, and cultural institutions are not included. The list is limited to two places per donor in the top ten.
Other Big Bets for Social Change Announced in 2016:
Forbes and The Bridgespan Group turned to these 9 seasoned advisers to rank the most promising big bets:
Dan Cardinelli: President and CEO, Independent Sector
Cherryl Dorsey: President, Echoing Green
President and CEO, Independent Sector
Cheryl Dorsey: President of Echoing Green
Joel Fleishman: Professor of Law and Public Policy, Duke University
Angela Glover Blackwell: Founder and CEO of PolicyLink
Charlie MacCormack: Executive Chairman of the Millennium Development Goals Health Alliance
Adam Meyerson: Chairman of The Philanthropy Roundtable
Eric Nee: Stanford Social Innovation Review Editor-in-Chief
Eric Nonacs: Golden State
Trustee Patty Stonesifer: Executive Chairman The Martha's Table
*Note: Patty Stonesifer was CEO of The Bill & Melinda Gates Foundation until 2008; she recused herself from being suspicious of any of the donations she worked with while at the foundation.
Methodology
The Bridgespan Group identified all 2016 publicly advertised gifts by donors in the United States for social change that were $25 million or more, using a variety of sources and scope.
Bets promised in 2016 were included, instead of analyzing the fulfillment of previous commitments. Bridgespan field experts, using a rubric they designed and researched, narrowed the nearly 74 bets found to the 22 most promising.
The assembled panel of external experts then rated these 22 according to six characteristics (ambition, clarity of desired outcomes, whether the stake offers a clear role for philanthropy to make a significant difference, whether strategies are logical and realistic, the extent to which learning and improvement are included in the donation, and the strength of the relationship between the donor and the recipient organization) and also provided qualitative assessments. We limited each funder to only two spots in the top 10 (otherwise The Bill & Melinda Gates Foundation and Blue Meridian Partners would have gotten more mentions).
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