NewsMember news plus local and national philanthropic reporting
The importance of savings has long been established: having an emergency savings cushion can help families weather emergencies and unexpected expenses and even a small amount of savings can help households manage stress and get ahead. However, data shows that 40% of Americans are liquid asset poor—meaning those families don’t have enough in savings to make ends meet at the poverty level for three months if their income was interrupted. This problem is even starker when disaggregated by race: 31.7% of White households are liquid asset poor compared to over 62% of Latino and Black households.
For many low-and-moderate income households in the United States, buying a home is building upon a foundation of financial security to begin to create wealth. Given that most homeowners finance their home purchase with a mortgage, buying a home is also one of their largest sources of debt, presenting significant risk. According to Harvard University’s Joint Center for Housing Studies' 2019 State of the Nation’s Housing report, 17.3 million homeowners are cost burdened. Cost-burdened homeowners in the bottom income quartile spend significantly less on food, health care, transportation and retirement savings than other families in their income bracket whose housing is affordable.
Research studying thousands of homeowners in recent years, has found that increased short-term liquidity was a key factor driving mortgage default and that default followed shortly after a negative income shock regardless of the borrower’s income level, mortgage payment amount or the amount left on the loan.
Under this premise, Prosperity Now launched HomeReserve, a mortgage-match savings initiative to help homeowners at 80% AMI or below, who have purchased a home within the last two years save 1-3 months of their mortgage amount, including the match funds. The primary goal of HomeReserve is to reduce mortgage default in low to moderate income homeowners. This is accomplished through increasing their savings through incentivizing repetitive long-term saving habits and coupled with financial capability services targeted to low and moderate income homeowners to help them grow savings and maintain homeownership.
Through the support of JPMorgan Chase, Prosperity Now is launching its second iteration of HomeReserve.
(March 3, PND by Candid) Children's Hospital of Philadelphia has announced a $10 million gift from the Pincus Family Foundation to help advance global pediatric health, with a focus on vulnerable children in low- and middle-income countries.
The gift will endow the David N. Pincus Global Health Fellowship Program, which was established in 2008 with a gift from Pincus. Housed at the Global Health Center at CHOP, the program provides fellows with opportunities to strengthen their clinical, research, advocacy, and leadership skills in global pediatric health through a fully funded, immersive, three-year academic fellowship. Over the course of the fellowship, each fellow also works with a mentor to design and implement a project and/or study designed to benefit children in Botswana or the Dominican Republic.
"The endowment of the David N. Pincus Global Health Fellowship Program ensures that CHOP can continue to do innovative work in our partner countries, such as Botswana and the Dominican Republic, and have the ability to respond to wherever the need is greatest," said CHOP president and CEO Madeline Bell. "The Pincus Family Foundation's continued commitment to children and global health will greatly impact and positively change future generations of children and their families around the world."
"My father was committed to helping the world's most vulnerable children have a chance at life. This program not only answered a critical need, but also helped the communities where these children lived," said Leslie Pincus Elliot. "He would be so thrilled and proud to know how this partnership with CHOP has grown and flourished, all that it has accomplished thus far, and all that it will be in the years to come now thanks to the endowment of the David N. Pincus Global Fellowship Program at CHOP."
(Photo credit: Children's Hospital of Philadelphia)
(February 27, 2020 by Jill Althouse-Wood,inWilmDE.com) Warning: this blog entry comes with a challenge for all readers. Will you accept? Very soon, for one twenty-four-hour period, every Delawarean will be called upon to answer the question: What kind of state do we want to live in? Don’t be nervous. While it is a test of who we are at our core, this one is fun, easy, and a cause for celebration. So, highlight your calendars and set the alarms on your smartphones. From March 5th at 6pm until March 6th at 6pm, Do More 24 is returning for its fifth year—and with it comes some new energy.
What is Do More 24? It’s Delaware’s Giving Day—a 24-hour period of intentionally opening our wallets and giving love to our favorite nonprofits. If you haven’t heard of Do More 24, you aren’t alone. (Blogwriter is sheepishly raising her hand now.) As Delawareans, we are notoriously oblivious about charities. When it comes to individual charitable giving, Delaware ranks poorly—48th out of 50 states according to a 2018 study. It isn’t our fault exactly. We are used to big corporations (names like DuPont, Longwood Foundation) doing the heavy lifting when it comes to funding our local charities. The problem with this way of thinking is that it depends on resources that may not be there a generation from now and deprives us of the sense of community pride that comes from banding together and giving of ourselves.
How do we get the word out and create a culture of philanthropy? For four years, Do More 24 was implemented by the United Way. This year, Spur Impact, the force behind the Millennial Summit, is joining the efforts and injecting fresh (dare I say, younger?) energy into the initiative. (Don’t bad mouth millennials in front of me; I am looking to their age bracket for all kinds of miracles in 2020, but first, let’s start with Do More 24.)
I reached out to twenty-something Sarah Fulton, Associate Director of Development at Spur Impact to find out more about how they are going to raise the profile of the event and cultivate the next (possibly greatest) generation of donors. Her energy is infectious. Fulton told me that the event has 300 Fundraising pages representing 200 unique organizations.
“Delaware is a proud and small community, so we are a friendly competition. We have goals of raising as much money as we can, but it is more than that. We are challenging organizations to attract as many unique donors as they can. We want to encourage the younger generation of give what they can. They are at the beginning of their careers. They aren’t going to be able to donate a wing of a hospital. But five or ten dollars from hundreds of people adds up. And if they start now, they will be tied into this idea of giving, so that, years from now, when they are making the big bucks, they will write larger checks,” Fulton explained.
Do More 24 has a corporate sponsored pot of $40,000 that organizations will be competing for. The pot will be divided up according to the percentage of the total haul that each organization collects.
“The great thing about this event is that it gives focus to smaller organizations, ones that don’t have a 40-50 person planning committee generating buzz for their cause.”
Spur Impact has more ideas to grow this day and create excitement in years to come. She invoked Lancaster’s Extra Ordinary Give as an example. Full disclosure: I lived in Lancaster County for much of my adult life, and I know about the Lancaster event; everybody who lives there does. It is a pretty raucous celebration that takes over restaurants and city blocks. In 2019 alone, the Lancaster event raised close to $11 million dollars with close to 30,000 unique donors for 521 charities. Fulton imagines that, like Lancaster, Delaware will partner with companies and restaurants who will have “giving” specials on their merchandise and menus, e.g. Buy hot wings appetizer and $1 will go to TeenSHARP. Giving can be easy and delicious!
The great thing about this year’s Do More 24 Delaware is that it ends at 6 PM on Friday March 6, just as Art Loop is beginning. Throughout Wilmington and other locations across the state, afterparties (happy hours, etc) will be a part of the scene as organizations announce and celebrate their total dollar amounts. You can be part of the celebration. Here is where the challenge comes in, and it is as simple as one word: Give. Visit the Do More 24 Website and peruse the fundraising pages to decide which organization you can help with your support. Challenge your friends to do the same. No dollar amount is too small, and you will be helping to grow our community of givers and the Delaware culture of philanthropy for future generations.
IN Wilmington is participating in Delaware's Giving Day: Do More 24 Delaware. Year-round, we support a variety of arts, culture and community organizations through direct marketing and outreach, educating our public about the vibrant cultural scene of Wilmington, Delaware while simultaneously supporting economic development. Consider donating to IN Wilmington during this 24-hour giving period, and help us continue to share the story of our great city.
Other participating organizations are IN the Spotlight over on our blog! Get the full list here.
Click here for full article from InWilmington.
(January 24, 2020 by Delaware Business Times) JP Morgan is a Philanthropy Delaware Member. JPMorgan Chase (JPMC) celebrated opening its second branch in Delaware by announcing $420,000 in investments to the United Way of Delawar eand Ministry of Caring. United Way of Delaware received $210,000 to help support the $tand by Me program.
This program offers financial counseling for Delawareans through nonprofits and the state government to help them reduce debt, improve their credit and increase their savings.
Since opening in 2011, $tand By Me has assisted more than 110,000 Delawareans reach their financial goals. While on average they help improve credit scores by 64 points, reduced personal debt by$19.6 million and saved more than$3.3 million for Delaware residents.These funds will help United Way build new partnerships and assist more people.
JPMC is also investing $210,000 with the Ministry of Caring to support the expansion of its workforce training programs for recently homeless individuals. This program provide trainings to help those individuals become certified nurse’s assistants, early childhood educators and commercial drivers. They also receive job readiness skills and help with job placement.
The new branch is located at 1000 Rocky Run Parkway off U.S. 202.
Click here to read full article by Delaware Business Times.
(February 20, 2020 by CSR Press Release) Wells Fargo is a Philanthropy Delaware Member - In 2019, the Wells Fargo Foundation launched a new philanthropic strategy anchored around unlocking economic opportunity for people and communities by addressing housing affordability, small business growth and financial health. The Foundation invested $455 million in grants in the last year, funding national organizations to deliver programs at scale and nonprofits that specifically address the needs of local markets.
“Wells Fargo is on a journey to create greater community impact through its business and philanthropy,” said Bill Daley, vice chairman of Public Affairs at Wells Fargo. “Economic mobility is a critical issue, particularly for low-to-moderate income communities where people lack access to the resources necessary for a sustainable livelihood: adequate housing, stable jobs, or financial health services. In the year ahead, we will streamline our grant-making around these important areas and focus on addressing systemic barriers to success. This is the time to collaborate, be bold and think like social entrepreneurs.”
“We commend Wells Fargo for their willingness to step up on issues facing our constituents and commit resources and expertise to look at community challenges at the local, state and national levels,” said Derrick Johnson, president and chief executive officer of NAACP. “We have a long way to go to achieve economic equality in this country, and it’s going to take highly focused efforts and unparalleled conviction to get us there. We were glad to see Wells Fargo further their commitment to housing, small business and financial health in its philanthropic approach; as these issues affect everyday life, particularly in low-income communities, and will create a pathway for more people to attain financial mobility.”
Making an Impact: Recap of 2019 Philanthropy
Overall, Wells Fargo’s philanthropy in 2019 helped more people find a place to call home, grow small businesses offering meaningful local jobs and increase financial health and wellness. Results include:
Housing affordability: Wells Fargo’s NeighborhoodLIFT® program assisted 3,376 homeowners by offering homebuyer education plus down payments assistance grants across a dozen communities including Los Angeles; Washington, D.C. and Prince George’s County; Houston; Sacramento; Omaha, Neb.; Baltimore; the state of Alaska; Dallas and Fort Worth, Texas; Newark and Essex County, NJ; the state of Montana; Pittsburgh and Allegheny County, Penn.; and Portland, Ore.
In addition, Wells Fargo made more than 2,800 grants to nonprofits in response to the housing affordability crisis and unique local challenges in communities across the U.S. From Anchorage, Alaska to Atlanta, Wells Fargo supported organizations that are developing new affordable rental homes, expanding homeownership opportunities for ethnically diverse households, creating long-term affordability by investing in community land trusts, and stopping the devastating flow of families into homelessness. For example, Wells Fargo provided funding for the renovation of apartments at Hope Gardens Family Center in Los Angeles, where the Union Rescue Mission helps women and children move from the streets into stable homes.
Small business growth: small businesses are an important driving force in job creation and thriving communities. In 2019, philanthropic capital for Community Development Financial Institutions supported more than 107,000 loans. Through Wells Fargo’s Diverse Community Capital (DCC) program, small businesses owned by people of color, immigrants, women, veterans, the LGBTQ community, among others, empowered diverse entrepreneurs to create or sustain more than 79,000 jobs and to rebuild small businesses in places like Puerto Rico, California, Florida and North Carolina after natural disasters and wildfires. Since 2015, DCC has propelled small business growth with $1.4 billion in financing and 183,000 jobs across the United States.
The Wells Fargo Innovation Incubator (IN2), a collaboration with the National Renewable Energy Lab that speeds the path to market for promising clean-technology startups, is another example of momentum in the small business community. In 2019, IN2 expanded into sustainable agriculture and residential housing, adding 15 new startups. To date, 40 portfolio companies have gone on to raise more than $282 million in follow-on funding and six have successfully exited the program through mergers and acquisitions.
Financial health: Financial health tools and coaching gives families the tools, knowledge, and confidence needed to save money, reduce debt and build financial stability. The ability for individuals and families to succeed on their own is critical to the long-term stability of vulnerable populations and communities. In 2019, Wells Fargo launched a new program with UnidosUS that integrates free, bilingual, financial coaching into the delivery of healthcare and wellness services. Overall, the support from Wells Fargo is expected to create an opportunity for more than 25,000 Latinos in six markets to receive individualized financial coaching services and pursue financial goals.
With tax-time approaching, the Wells Fargo Foundation and the AARP Foundation are reaching seniors with free tax preparation services, helping them access critical tax credits and refunds that many depend on for household necessities, debt repayment, or savings. The funding will enable AARP Foundation to expand Tax-Aide, the largest free, volunteer-run tax preparation service in the U.S., to 24 additional neighborhood locations while more than doubling the number of taxpayers who receive a refund from 34,000 to over 70,000.
Local Market Giving: in addition to funding against the strategic pillars, local markets address priority community needs working in concert with local leaders in the U.S., Europe and Asia. Wells Fargo employees also volunteered 1.9 million hours to strengthen their communities in 2019, including at more than 900 projects worldwide during the company’s Dedicated Day of Service.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
+1 (202) 303-2966
Click here for more information.
(February 11, 2020 by USDA Rural Development Press Release) – U.S. Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Donald “DJ” LaVoy today announced that USDA is accepting applications for grants to help increase access to education, training and health care resources in rural communities.
USDA is making $71.7 million in grants available under the Distance Learning and Telemedicine (DLT) Grant program. This program helps rural communities use telecommunications-based audio and video equipment to connect teachers, students, medical providers and rural residents with each other and the world.
Applicants in rural areas of 20,000 people or less who provide education or health care services through telecommunications facilities are eligible to apply. Applications will be scored, reviewed and selected on a competitive basis.
Applications must be submitted electronically via grants.gov or shipped to USDA’s national office no later than April 10, 2020. For more information, see the DLT Funding Opportunity Announcement.
USDA encourages applications that will support recommendations made in the Report to the President of the United States from the Task Force on Agriculture and Rural Prosperity (PDF, 5.4 MB) to help improve the quality of life in rural America. Applicants are encouraged to consider projects that provide measurable results in helping rural communities build robust and sustainable economies through strategic investments in infrastructure, partnerships and innovation. Key strategies include:
USDA encourages applications for projects located in rural Opportunity Zones. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
USDA also encourages applications that will support the Administration’s goal to combat substance use disorder, including opioid misuse, in high-risk rural communities by strengthening the capacity to address prevention, treatment and/or recovery.
Click here to learn more.
(February 24, 2020 by Cape Gazette) Sussex County Health Coalition and Delaware Community Foundation are Philanthropy Delaware Members. Sussex County Health Coalition will host a Meet the Funder presentation from 12 to 1:30 p.m., Wednesday, March 25, at its office at 21133 Sterling Ave., Suite 12, Georgetown. Lunch will be served.
The guest speaker will be Stuart Comstock-Gay, Delaware Community Foundation president and CEO .
Comstock-Gay leads the foundation's work to improve quality of life in Delaware by empowering and growing philanthropy through knowledge and relationships.
For more information and to register, go to www.sussexcoalition.org.
(February 24, 2020 by Jacob Owens, Delaware Business Times) Despite a barrage of criticism, a Delaware state investment board unanimously approved a $4.5 million grant Monday morning for Amazon to operate a “next-generation,” multistory fulfillment center at the former General Motors Boxwood plant.
Specifically, the e-commerce retail giant will receive a $3 million grant tied to hiring 1,000 new full-time positions over the next three years and $1.5 million toward the fit-out of the nearly 3.8 million-square-foot facility being built by Nevada-based developer Dermody Properties on the old automotive manufacturing plant site.
(February 20, 2020 by Delaware News) Do you know a nonprofit organization in Delaware that may be interested in grant funding for security enhancements? Organizations with 501(c)(3) status may be eligible to receive funding from the Nonprofit Security Grant Program (NSGP) which supports organizations that may be at high risk of a terrorist attack. Nonprofits that may qualify must apply to the Delaware Emergency Management Agency (DEMA) by March 20, 2020 at 5:00pm to be considered for funding. DEMA is the State Administrative Agency for the Homeland Security Grant Program. Each individual nonprofit organization may be awarded up to a maximum of $100,000.
Eligible applicants must conduct a vulnerability assessment that demonstrates the organization is at high risk of a terrorist attack. The grant application must include risks, vulnerabilities, and the proposed project intended to address/mitigate the identified risks and vulnerabilities. Allowable projects should focus on security-related activities and physical security enhancements. Funding can be used for security-related planning, exercises, training, contracted security personnel, and the acquisition and installation of security equipment on property (including buildings and building improvements) owned or leased by the nonprofit organization at the time of application.
Applying nonprofits must complete the application which includes an Investment Justification (IJ) document, mission statement, risk assessment, and other supporting documentation. Additionally, a Data Universal Number System (DUNS) number is needed for application. No applications will be accepted by DEMA after March 20, 2020 at 5:00pm. Qualified applications will be forwarded to the U.S. Department of Homeland Security by April 15, and grant administrators at the Federal Emergency Management Agency (FEMA) will make the final determination of eligibility and award.
Complete qualification information and application packages can be found on DEMA’s website, Nonprofit Security Grant Program Application. To submit completed applications, or request further assistance, email Plan.DEMA@delaware.gov.
Follow Delaware Emergency Management Agency on Facebook and Twitter.
Contact: Jeff Sands, Delaware Emergency Management Agency, 302-659-2211.
(February 21, 2020 by Cape Gazette) Welfare Foundation, Longwood Foundation, and the Laffey-McHugh Foundation are members of Philanthropy Delaware. We’d like to paint a picture, a small glimpse really, of what our world might look like without nonprofits.
Nobody to help you find shelter after a hurricane or fire destroys your house.
No one to talk to or to guide you when you or a loved one is diagnosed with cancer or another life-threatening disease.
No safe haven for kids escaping the streets after school.
There certainly are many more examples, but, in part, this would be a world without nonprofits. It is unpleasant to think about, but it serves as a grim reminder how much we need nonprofit organizations.
If you haven’t had to rely on these services, though, you may think nonprofits do great work, but they have nothing to do with you.
This could not be further from the truth. Nonprofits are around more than when the unthinkable happens. In fact, you’ve probably benefited from many of them in your lifetime.
Nonprofits shape our daily lives without us even realizing it. It is time to give back.
You don’t have to be rich or a large foundation or corporation to make a difference. Nonprofits need everyday people like you and me to give $5… $15… $50… or $250. Philanthropists come in all shapes and sizes.
Nonprofits will tell you every dollar counts. Your individual donation may not feel like much, but more people making smaller donations is actually the wave of the future of philanthropy in Delaware, and the future starts now.
Starting at 6 p.m., Thursday, March 5, until 6 p.m., Friday, March 6, everyone has the opportunity to be a philanthropist. For those 24 hours, more than 200 nonprofits will be raising money through Do More 24 Delaware, and they need you to get online and donate.
Your personal budget may be small, but don’t let it keep you from becoming an individual philanthropist. Skip that expensive cup of coffee for a few days. Visit www.DoMore24Delaware.org on March 5-6, and start a culture of philanthropy in your life!
Chris Grundner, President & CEO of the Welfare Foundation
Thère du Pont, president of the Longwood Foundation
Todd Veale, Executive Director of The Laffey-McHugh Foundation
Click here to learn more about Do More 24 Delaware.
Copyright Philanthropy Delaware, Inc. 2017Philanthropy Delaware, Inc. is a 501(c)3 nonprofit organization
Office: (302) firstname.lastname@example.org
Address:100 W. 10th Street, Suite 500Wilmington, DE 19801