August 27, 2007
Gulf-Coast Grants by Companies and Foundations Top $1-Billion
By Caroline Bermudez
Foundations and companies contributed more than $1-billion in cash and goods for relief efforts after Hurricanes Katrina and Rita, a new report has found.
The report, entitled “Giving in the Aftermath of Gulf Coast Hurricanes: Update on the Foundation and Corporate Response,” was prepared by the Foundation Center, a New York research group. Out of the estimated $6.5-billion in private donations given to hurricane relief, as calculated by the Giving USA Foundation, corporate and foundation giving accounting for roughly 14 percent.
Corporate donations made up the majority of institutional giving, with contributions totaling $519-million. Furthermore, a significant portion of corporate giving was divided among the 10-biggest companies, each of which donated at least $9.8-million.
Three of those companies each gave at least $24-million: Chevron Corporation Contributions Program, ExxonMobil Corporation Contributions Program/Exxon Mobil Foundation, and Starkey Laboratories Corporate Giving Program.
Giving among foundations was also concentrated among large organizations. Ten private grant makers accounted for 55 percent of total foundation giving. Four foundations donated more than $28-million each: the Ford Foundation, Bill & Melinda Gates Foundation, the W.K. Kellogg Foundation, and the Lilly Endowment.
The two segments of institutional giving differed in what they chose to support, with companies opting to support more immediate needs and foundations backing long-term efforts. The report states, “Corporate giving focused more on general relief efforts and the provision of human services, while independent foundations were more likely to provide funds for education, health, and economic and community development, suggesting a greater focus on recovery and rebuilding activities.”
Much of the money raised for hurricane relief and rebuilding has already been spent, with many needs still remaining, The Chronicle reports. The largest recipients of funds received $3.7-billion, but have spent $3.4-billion so far, according to The Chronicle.
The Foundation Center report also determined that grant makers veered away from their usual practices and program areas to support extended hurricane recovery after intially expecting to have only a limited presence in the Gulf Coast region. It states, “What began as a relief and recovery effort for many funders morphed over time into an initiative to build a more robust nonprofit and civic infrastructure that did not exist in the region prior to the disaster.”
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The Williams-Sterling Foundation the philanthropic arm of Williams-Sterling, Inc. (www.wsi-inc.net)is a State of Louisiana certified and Louisiana Manufactured Housing Commission licensed Retailer and Developer of modular homes. The WSF was formed, as a special purpose non-profit corporation, to provide disaster relief programs in the form of gap philanthropy financing and housing assistance. This goal will be achieved in the form of construction grants and private grant sources; when insurance and other settlement monies are insufficient to meet storm-impacted losses the foundation will step in to assist citizens in meeting the need. Realistic opportunistic outreach to the elderly, disabled and other residents affected by the Gulf Coast Hurricanes is absolutely necessary. We would be honored to team with other foundations with the purpose of making a difference in the Gulf Coast region.
The WSF offers multi-family, single-family, duplex and townhouse models.
email: wsfsupport@mindspring.com
phone: 504/330-8778
Trustee: James H. Williams
Director of Operations: Harold R. Williams
EIN: 20-8827563
— Cher Washington Aug 27, 02:14 PM #