Wells Fargo Awards $6 Million in Neighborhood Revitalization Grants

Philanthropy News Digest | October 13, 2018

Wells Fargo & Company has announced $6 million in grants to nonprofit organizations working to revitalize neighborhoods. Awarded through the Wells Fargo Housing Foundation's 2018 Priority Markets Program, the grants will support projects, programs, and initiatives focused on neighborhood revitalization and removing barriers to the creation of sustainable housing in low- and moderate-income communities. Since 2009, the program has awarded grants totaling $54 million to nonprofits in more than a hundred and twenty-five communities. "These fifty nonprofits share our focus of strengthening communities through local neighborhood revitalization efforts in support of sustainable housing," said Martin Sundquist, executive director of the Wells Fargo Housing Foundation. "The impact of each dollar invested through this program will be magnified by enabling nonprofits to combine funding with other community grants as the catalyst for their neighborhood revitalization work, serving as a powerful example of the positive impact that can be achieved with thoughtful public-private collaboration.

Spotlight

Be Inspired Films have been out and about at National Convention and have been asking you 'What's the next big thing in fundraising?' Here's what you had to say...

Spotlight

Be Inspired Films have been out and about at National Convention and have been asking you 'What's the next big thing in fundraising?' Here's what you had to say...

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NONPROFIT MANAGEMENT

Non-profit blockchain organization PraSaga to operate as a foundation

PraSaga | July 13, 2022

The non-profit organization building the next generation of Layer One blockchain – today announced its official designation as a Swiss Foundation. This critical step caps off a busy first half of 2022 for PraSaga, which also included attending the Chamber of Digital Commerce's Blockchain Summit in Washington D.C., to help define the future of the crypto industry, and attending Consensus 2022 in Austin, Texas, to introduce SagaPython, a new extension of the popular coding language Python, with an integration into PraSaga's blockchain. Recognition as a Swiss Foundation means that the PraSaga ecosystem will be governed by majority rule moving forward. Decisions will be based on the authority of majority or super-majority votes, meaning that no single entity will have the ability to gain control. This will help to ensure that PraSaga realizes its goal of creating a blockchain that delivers a better future, with transparent government, efficient markets, and real threat protection. "We understand the responsibility that comes with creating a Layer One blockchain and cryptocurrency. Being constrained by profit margins and controlled by a centralized authority are simply not compatible with the goals we are aiming to achieve at PraSaga. Operating as a foundation allows us to pursue our ultimate goal of improving the quality of life for people around the world. By placing control of data in the hands of every individual, and in areas such as creating transparency in tracking carbon emissions and addressing flaws in the global supply chain". -Michael Holdmann, Founder and CEO of PraSaga To gain designation as a Swiss foundation, the organization had to comply with government regulations. However, it was a worthwhile journey as Switzerland's legal and political stability, along with its focus on innovation, make the country a unique financial center. The Swiss finance industry is known globally for its banking legacy. Yet, its constant drive to broaden its horizons, and ready adoption of innovations like fintech and sustainable finance, make it the ideal location for a future-facing foundation like PraSaga to base itself. About PraSaga- PraSaga is a Swiss Foundation building the next generation of Layer One blockchain. PraSaga's technology solution solves many of the limitations that plague first-generation Layer One blockchains. The SagaChain™ successfully addresses lowering transaction fees, extensibility for supply chains, and significantly lowers development costs.

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FUNDRAISING

NEW AI PLATFORM FOR NONPROFITS TO IMPROVE FUNDRAISING RAISES $1.5M IN PRE-SEED FUNDING

HATCH | July 26, 2022

The company has developed an "Altruistic Intelligence"TM platform that leverages AI to make nonprofit fundraising efforts more effective. Using a combination of data-enrichment, machine learning, and AI predictive modeling, Hatch aims to make a significant impact in the giving space. Hatch is the brainchild of Moshe Hecht, former co-owner and CIO of charidy.com, the fundraising platform that has raised $2B+ for charities since 2013. He is joined by CTO and co-founder Eyal Beigman, PhD. In his 7 years of leadership at charidy.com, Hecht discovered that most organizations spend 90% of their time engaging just 10% of their donors. The overwhelming majority of people have been overlooked, at best relegated to receiving mass email blasts (often driving them to unsubscribe). "It's not just about identifying the rich people anymore, We're moving into a new era of giving, where philanthropy is being driven by the collective power of the many rather than the exclusive power of the few." -Moshe CEO, Hecht. Hatch solves this problem by unlocking what makes people tick, click and give." The result is thriving engagement across a larger donor base. Hatch's platform generates a holistic profile of every donor. In doing so, it can help organizations better identify the people most likely to engage with them, using predictive modeling to forecast greater opportunities for impact. As Beigman explains, "Hatch makes data accessible and easy to use even for a volunteer. Hatch has raised a $1.5M Pre-Seed round from a group of prominent angel investors and tech leaders, including computer scientist and philanthropist David Magerman. Other key investors include renowned venture capitalist and philanthropist Howard L. Morgan, Tiferes Ventures (Clark Valberg of InVision), Avi Geller (Leonite Capital), Daniel Cotlar, Jonathan Zauderer, Mallion Holdings LLC (Esriel Rappaport), Rochel Leah Bernstein, Levy Lieberman, Meir Gniwisch (Olive Tree Ventures) , Israel Schachter (Charity Bids), and others. As an investor, I'm excited to see the impact Hatch is going to have on the nonprofit world, Magerman shares. It's going to be like nothing we've ever seen before.

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FUNDRAISING,NONPROFIT TECHNOLOGY

DTE Energy donates $10 million to non-profits for energy assistance

DTE Energy | August 30, 2022

DTE Energy, a nationally recognized leader in delivering energy assistance to customers, today announced a $10 million donation to five Michigan non-profits to help people pay their current and overdue energy bills. “DTE and our partners are doing everything in our power to ensure customers are never without the energy they need, Many Michigan families face financial hardships, and it's our goal to connect our customers to the support and resources they need as quickly as possible.” -Angie Pizzuti, vice president and chief customer officer, DTE Energy. Five local outreach agencies received the donation, which will be distributed to elderly, unemployed, underemployed, disabled and other residents in need throughout Michigan, while also helping them to enroll in affordable payment plans such as DTE’s Low Income Self-Sufficiency Plan. The $10 million commitment includes grants given to: United Way for Southeastern MI: $4 million The Salvation Army: $2 million TrueNorth Community Services: $2 million The Heat and Warmth Fund (THAW): $1.5 million United Way for South Central MI: $500,000 Each outreach agency will conduct enrollments for eligible individuals until funds are exhausted. DTE has donated more than $50 million to outreach agencies since 2016 to assist customers in paying their past-due energy bills by enrolling them in LSP. Since its inception in 2012, the LSP program has seen a nearly 90% success rate of enrollees completing their payment plan cycles and building a pattern of self-reliance. DTE has also taken steps during the pandemic to deliver help directly to customers in need through the Low Income Home Energy Assistance (LIHEAP) program. With LIHEAP Direct, DTE partners with the Michigan Department of Health and Human Services to determine customers with the greatest need for assistance and directly apply aid, bypassing the application process. This has allowed DTE to get assistance to customers quicker than ever before, helping them keep their light and heat on. The White House recognized DTE as an example for other energy companies to follow in reducing barriers and directly applying help to customers. DTE has also worked closely through the pandemic with the State of Michigan to administer CERA (COVID Emergency Rental Assistance) aid to our customers who rent their homes and MIHAF (Michigan Homeowner Assistance Fund) help for homeowners. Additionally, DTE donated $10 million early in the pandemic to reduce arrears for our most vulnerable customers, and restored service for thousands of customers out of concern for public safety. About DTE Energy: DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio also includes non-utility businesses focused on industrial energy services, renewable natural gas, and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80% by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric and Gas aspire to achieve net zero carbon and greenhouse gas emissions by 2050. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress.

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