Madonna Invites Jeff Bezos to Join Her in Funding Detroit Nonprofits

Nonprofit Quarterly | June 21, 2017

Let’s place this story under the category of “new giving habits of the tech-enabled ungodly rich.” NPQ reported a few days ago that Jeff Bezos had tweeted to his followers in search of suggestions about what kinds of projects to get involved with philanthropically. Bezos is the third-richest person in the world, with an estimated $80 billion in net worth. In his tweet, he said that his philanthropic interests sit “at the intersection of urgent need and lasting impact.”Pop singer Madonna, on the other hand, boasts only $580 million in assets, as estimated by Forbes, and she’s a graduate of Rochester Adams High School, about 30 miles north of Detroit, which has led her to support charities in that city.

Spotlight

Highlights of the first day of the 2015 Institute of Fundraising National Fundraising Convention, held in London, 6th-8th July

Spotlight

Highlights of the first day of the 2015 Institute of Fundraising National Fundraising Convention, held in London, 6th-8th July

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FINANCIAL MANAGEMENT

Credit Suisse Expands Funding to Nonprofit Organizations Leading Efforts to Improve Pathways to Career & Upward Mobility

Credit Suisse | July 01, 2022

Credit Suisse is pleased to announce that the Credit Suisse Americas Foundation has awarded $400,000 to two new nonprofit partners – Generation USA and Year Up. These groundbreaking programs serve the community by investing in motivated yet under-resourced young people and developing a robust and diverse talent pipeline. The organizations provide educational pathways outside of traditional four-year degrees, enhancing their students' abilities to launch promising careers. While we have long-supported and remain committed to four-year college completion, we have become increasingly motivated to find opportunities to support the nearly 2/3 of Americans who do not choose or may not have access to this pathway. We completed the expansion of our Future Skills portfolio to include innovative organizations or initiatives that strive to bridge the gap between the education and employment sectors by providing additional pathways for young people to navigate toward promising careers, like apprenticeships, certifications, and two-year degrees." Eric Eckholdt, Executive Director of the Credit Suisse Americas Foundation These grants are part of the Credit Suisse Americas Foundation's work in Future Skills, a giving program that supports educational efforts to provide young people from underserved communities with skills necessary for a strong career start in order to live choice-filled, upwardly-mobile lives. The Credit Suisse America's Foundation continues to support high-performing schools like KIPP Public Charter Schools, modern youth apprenticeships through CareerWise New York, and innovative programs such as Braven, the WakeWorks Apprenticeship program, and myFutureNC. Moreover, the Foundation is pleased to onboard these organizations that aim to further the vision of providing additional pathways to securing a family-sustaining career. "These two new groups represent a transition from a "college-for-all" to a "success-for-all" mentality," says Eckholdt. "We are excited for the opportunity to support and learn from industry leaders and changemakers who embody the spirit of this effort, which we believe is vital for both young people in America and an evolving workforce." Generation USA is a nimble organization founded by McKinsey & Company. At scale, it has the potential to provide high-level, industry credentialed training to thousands of young people. According to Generation USA, more than 75 million young adults were out of work globally even before the global pandemic, and three times as many were underemployed. Concurrently, certain jobs remain in high-demand, and 40 percent of employers say a skills shortage leaves them with entry-level vacancies. In an effort to bridge this gap, the Generation USA program aims to transform education to employment systems to prepare, place, and support people into life-changing careers that would otherwise be inaccessible. "We are proud to be a recipient of Credit Suisse's philanthropic initiatives in opening entry to a meaningful career through non-traditional pathways," says Richard Clemmons, Generation USA Interim CEO. "Through this generous funding, we'll be able to expand our reach and impact in the New York City community by providing training, support, and access to career opportunities in the high-demand tech industry." Credit Suisse is also excited to partner with Year Up, a best-in-class workforce development organization, which is committed to ensuring equitable access to economic opportunity, education, and justice for all young adults—no matter their background, income, or zip code. Year Up's intensive training program utilizes a high expectations, high support model where students learn in-demand technical and professional skills and apply them during a work-based experience with one of their 250+ corporate partners. "Credit Suisse and Credit Suisse Americas Foundation's generous support will enable motivated young adults to receive the training, support and connections to have rewarding careers at top companies," said Gerald Chertavian, Year Up Founder and CEO. "Through this partnership, we will make important progress in closing the Opportunity Divide and building a more inclusive society and a stronger economy." Credit Suisse Credit Suisse is one of the world's leading financial services providers. Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 50,110 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.

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FUNDRAISING

Online Fundraising Platform, Classy, Launches Crypto Giving Powered by Coinbase Commerce

Classy | June 16, 2022

Classy, an online fundraising platform that provides easy and intuitive technology for nonprofits, announces the launch of Crypto Giving. Through an integration with Coinbase Commerce, nonprofit organizations on Classy's platform can receive donations for multiple types of cryptocurrency, as easily as they can accept donations through credit cards, ACH, PayPal or Venmo. Classy's Crypto Giving product allows nonprofits to tap into a new cohort of philanthropic supporters looking to make a difference by donating their cryptocurrency. Crypto Giving makes it easy for them to donate and equally as easy for a nonprofit to accept the donation. Unlike other cryptocurrency offerings for the nonprofit sector, Classy's offering is built directly into the core giving platform, meaning the option to give in cryptocurrency like Bitcoin or Ethereum, lives right on the organization's donation page and is available across multiple campaign types. And because Crypto Giving is built directly into Classy Pay, Classy's nonprofit payment processing tool, transaction reporting happens directly in-product, alongside all other donations. This offering for Classy's customers comes at a time when cryptocurrency donations have seen an uptick in mainstream activity, such as $60M in cryptocurrency donated as a result of the humanitarian crisis in Ukraine. While the world of cryptocurrency is evolving quickly, Crypto Giving positions nonprofits to tap into this network of donors as it becomes increasingly ubiquitous. The addition of cryptocurrency to our portfolio of payment options is representative of Classy's continued efforts to develop the most impactful and purposeful fundraising technology. No other nonprofit fundraising solution has this type of functionality, across multiple campaigns, built natively into their platform. Nonprofits can now tap into new networks of donors and drive higher conversion rates, all with an easy back-end experience that provides almost immediate data." Christopher Himes, CEO of Classy At launch, cryptocurrency donors will also be given the option to help offset the environmental impact of their donation by making a one-off individual environmental offset donation via Offset Alliance. Offset Alliance is a certified B Corp that helps make it simple to take measurable and meaningful climate action. Coinbase Commerce Product Manager Roy Zhang commented: "Crypto donations have become an increasingly popular and effective way for nonprofits to raise funds. Accepting crypto as an additional donation option allows nonprofits to reach a wider base of donors, and offers consumers more flexibility when donating to causes they care about. We're thrilled that Coinbase Commerce is powering Classy's Crypto Giving solution and we're excited to see more donors drive positive impact through crypto." About Classy Classy, an affiliate of GoFundMe, is a Public Benefit Corporation and giving platform that enables nonprofits to connect supporters with the causes they care about. Classy's platform provides powerful and intuitive fundraising tools to convert and retain donors. Since 2011, Classy has helped nonprofits mobilize and empower the world for good by helping them raise nearly $4 billion. Classy also hosts the Collaborative conference and the Classy Awards to spotlight the innovative work nonprofits are implementing around the globe.

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FINANCIAL MANAGEMENT

Funding Circle, DreamSpring Partner to Increase Access to Capital for Small Business Owners in Underserved Communities

DreamSpring | July 25, 2022

Funding Circle, one of the nation’s leading online small business loans platforms, and DreamSpring, a nonprofit community development financial institution (CDFI) with nearly 30 years of experience in community lending, have launched a new partnership to increase access to funding for small business owners in underserved communities across the nation. The new partnership aligns with both organizations’ shared commitment to advancing entrepreneurship and innovation by providing equitable access to capital to small businesses. Through this lending-as-a-service program, DreamSpring will be able to expand its distribution and impact throughout the nation and originate more loans faster and at a lower cost, all while ensuring a seamless experience for customers. DreamSpring small business customers who apply through the co-branded application portal will receive one-on-one support from a dedicated Funding Circle Account Manager, an approval decision in a matter of hours and access to funds in as few as 48 hours. “We are excited to offer financial institutions our customizable end-to-end lending platform and technology that we have spent the last 12 years developing, We look forward to seeing the positive impact our partnership with DreamSpring has on communities across the country, especially those underserved.” -Angus Sanders, Chief Revenue Officer of Funding Circle US. At DreamSpring, we lend at the intersection of mission, technology, and heart. Our relationship with Funding Circle will be transformational—empowering entrepreneurs to rapidly access funding necessary for job creation and small business growth, said Francisco Lopez, Chief Operations and Innovations Officer at DreamSpring. Together, we will provide the flexibility and resources small business owners need to navigate today's changing economic climate. Funding Circle is committed to helping small businesses get the funding they need to thrive by working closely with financial institutions—including national, regional and community banks and community development financial institutions (CDFIs)—to achieve this mission, most recently launched a small business lending-as-a-service partnership with Pitney Bowes. A study published by the Philadelphia Federal Reserve this year found that Funding Circle has been able to expand credit access to underserved small business owners who are not likely to receive funding from traditional lenders, and has done so at a lower cost to borrowers. The study also noted Funding Circle’s partnerships with community institutions made it possible for those banks to reach new customers during the pandemic. About Funding Circle: Funding Circle (LSE: FCH) is a small and medium enterprise (“SME”) loans platform. Since launching in 2010, investors and lenders across Funding Circle's geographies - including banks, specialty finance companies, asset management companies, insurance companies, government-backed entities and funds - have provided approximately $18 billion to over c.120,000 businesses globally. About DreamSpring: DreamSpring is a nonprofit community lender dedicated to eliminating systemic wealth inequities and accelerating the economic inclusion and strength of underserved communities. Founded in 1994, the organization, which operates in 19 states, provides rapid access to capital and customized wrap-around support to the most vulnerable small business owners, focusing on communities including people of color, women, low- to moderate-income earners, people with disabilities, and start-ups. To date, DreamSpring has issued more than 42,000 loans totaling over $465 million to small businesses that support an estimated 72,000 jobs

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