NewsMember news plus local and national philanthropic reporting
Vernita Dorsey was recently named the new chairwoman of the Philanthropy Delaware’s executive board for 2019-2020. Vernita, a Senior Vice President, Director of Community Strategy at WSFS Bank, assumed her role on January 1, 2019. Click here for full release
The AEG Foundation, the philanthropic arm of the Firefly Foundation offers grant funding in Delaware.
Firefly Festival: The AEG Community Foundation is dedicated to supporting children and families through grantmaking in the areas of K-12 Education, the arts, and health and wellness. Does your organization's program fall within one or more of the following areas of focus?
K-12 Education - Emphasis on organizations that seek to provide access, opportunity and innovation to youth, grades K-12, primarily in the areas of literacy, after-school academic support and college readiness.
The Arts - Emphasis on organizations that seek to provide youth opportunities to engage in the arts and music. Preference is given to organizations that provide direct services to youth who otherwise would not be exposed to the arts.
Health & Wellness - Emphasis on organizations that seek to address health challenges facing under-served communities. Preference is given to organizations providing direct services to youth and in need families including hospitals, youth sports organizations, and youth development centers.
The AEG Community Foundation is dedicated to supporting children and families in need through grant giving in the areas of K-12 education, the arts, and health and wellness.
Please complete this application to be considered for a grant from the AEG Community Foundation. The Foundation will award grants ranging from $2,500 to $25,000.
Click here for more information
While decisions at the federal level are causing states to revise their income and sales taxes, numerous bills are also pending in legislatures across the country to revise or undermine the exemption from property taxes that foundations and charitable nonprofits receive in all 50 states. For the complete update click here.
The NoVo Foundation today announced The Life Story Grants, a $10 million, 3-year commitment for programs in the U.S that open exit ramps and close on-ramps to commercial sexual exploitation. NoVo is now inviting Letters of Inquiry for grants across six system-focused “moments”: Housing, Medical Needs, Law Enforcement, Trauma and Mental Health, Immigration, and Systems Impacting Youth. Click here for the announcement.
M&T is a member of Philanthropy Delaware.
From Delaware Business Now
M&T Bank awarded $30,000 in funding to Sam Cannan, Chairman and Co-founder of the Veterans Watchmaker Initiative (VWI) during a visit to the Odessa campus on February 8.
The New Castle County-based school teaches disabled war veterans the skilled art of watchmaking. The program, which originated in the 1940s, was created to instruct veterans in a professional craftsmanship that is both profitable and in high demand.
“M&T Bank’s funding will help VWI’s ‘House our Veterans Project,’ that aims to provide rent-free housing for veteran students during their 16-month horology training program,” said Mr. Cannan, who conducted a tour of the facility and the future site of the student dormitory.
Accompanying Lambrow were three M&T Bank representatives who toured the school and met students.
From Delaware Business Times
YWCA DE CEO Stephanie L. Staats will receive the Jessie Arrey-Mbi Leadership & Service Award for her commitment to service and improving the lives of women and families.
The award is given by Women in Leadership Development & Empowerment, Inc. (WILDE), a professional women’s 501 (c)3 public charity that works to improve the lives of women and children.
Read more here.
From The Chronicle of Philanthropy
What are your peers reading on these winter days? The Chronicle of Philanthropy asked our followers on Twitter (@philanthropy) and in our LinkedIn Group what they recommend. Here’s what they said.
Want to see more? Click here.
From Inside Philanthropy
“If we, as Latinos, are not at the table, we are going to be on the menu,” said John Padilla, co-founder of the Progreso Latino Fund (PLF) at the Community Foundation for Greater New Haven. He was speaking late last year at an event called “Una Conversación Entre Familia: Collective Giving and the Power of Latino Philanthropy,” hosted by the Latino Endowment Fund (LEF) at the Hartford Foundation for Public Giving.
Along with representatives of the third main Latino giving circle in New England, the Latino Legacy Fund (LLF) at the Boston Foundation, these groups convened to discuss their work and aspirations in Latino-focused philanthropy. Senior Development Officer Wanda Correa, who provides support for the LEF and led the effort to convene this forum, tells us the event was also a recognition of the LEF’s 15th anniversary, or quinceañera. It was also the PLF’s 15th year in action and the LLF’s fifth.
Latino Giving Circles on the Rise
At nearly 18 percent of the population, Latino people are the largest minority in the U.S., and their population has grown sixfold since 1970. Yet a few years ago, the Boston Globe reported that only about one penny of every charitable foundation dollar nationwide goes to Latino groups. The good news is that Latino giving circles and similar collaborative funds are on the rise, mobilizing new philanthropic resources for these communities. This is part of a broader trend we’ve been covering at IP, in which donors of color are becoming more collaborative and coordinated. This sea change reflects growing wealth for these populations, their frustration with longstanding neglect by mainstream philanthropy, and their desire to be self-funded and self-powered problem solvers within their own communities. Giving circles—often housed at community foundations—are a powerful way to bring together emerging donors, and the meeting hosted by the Latino Endowment Fund is another indicator of growing momentum in this dynamic corner of philanthropy.
Read more here.
The Opportunity Zone tax incentive–passed in amended form as part of the Tax Cuts and Jobs Act of 2017–is a potentially powerful new tool for helping low-income communities. By providing breaks for certain investments in distressed areas, it has already led to the creation of nearly $1 billion in new funds. Officials from the Treasury Department expect $100 billion in private capital will be deployed through the incentive.
But the policy may fail to achieve its goals unless foundations guide investments in the right direction. Their deep experience in struggling local communities around the nation prepares them for the challenge.
Read more of this SSIR article here.
Every night in Delaware, about 1,000 people are homeless. About 3,000 people, including children, will be homeless at some point throughout the year, according to the Delaware State Housing Authority.
As part of an ongoing effort to reduce those numbers, state leaders unveiled plans to spend $1.2 million in funding from the Federal Home Loan Bank of Pittsburgh and the authority.
The money will help people like Katherine Banks, who was facing the prospect of becoming homeless when her husband was imprisoned. Banks received aid from Lutheran Community Services, which provides guidance and financial assistance to keep people off the streets. “Everybody needs each other, I’m grateful,” Banks said during an event announcing the new funding at the LCS office in Wilmington.
FHLBank Pittsburgh will provide $700,000 through the Home4Good initiative, and the Delaware State Housing Authority will contribute $500,000 to the effort. The money will fund rapid rehousing efforts as well as homelessness diversion and prevention programs.
Read more here.
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