The outfits include the Doris Duke Charitable Foundation, Ford Foundation, W.K. Kellogg Foundation, the John D. & Catherine T. MacArthur Foundation
Five foundations on Thursday jointly pledged over $1.7 billion to assist nonprofit organisations across the globe weather the storm created by the deadly coronavirus, which has killed thousands across the globe and shut hundreds of businesses.
Generally, in the aggregate, funds will cover grantmaking aligned with each foundation’s mission, including racial equity and social justice, arts and culture, higher education, human services, climate solutions, and other areas to provide financial support to communities that are most vulnerable and hardest hit by the impact of COVID-19, the statement explained.
Ed Henry, President and CEO of the Doris Duke Charitable Foundation, said amidst the global crisis, there is an opportunity and obligation to intensify the commitment to addressing inequities to ensure a future that improves on the past. Also, Darren Walker, President of Ford Foundation, was quoted as saying, “COVID-19 presents an existential threat to nonprofits, and we must respond in creative and innovative ways. The pandemic has brought into sharp relief the results of decades of growing inequality. The virus is only compounding that inequality, taking a disproportionate toll on the poor, people of colour, immigrants, people with disabilities, and others who were already marginalised before the crisis hit.
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