Buffett Donates BH Shares Valued at $3.17 Billion to Five Foundations

Philanthropy News Digest | July 16, 2017

According to the Omaha-based conglomerate, Buffett, a co-founder and signatory of the Giving Pledge, converted 12,500 of his Class A shares into 18.75 million Class B shares and donated more than 18.62 million of the latter, valued at $3.17 billion, to the Bill & Melinda Gates Foundation and four foundations established by his late wife and children: the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation. With the gift, Buffett, who has never sold any of his Berkshire stock, has given more than 40 percent of his 2006 holdings in the conglomerate to the five foundations. The total value of those gifts (including this year's), as calculated from the share price at the time the A shares were converted, is $27.54 billion.

Spotlight

The crowd is a diverse group of capable individuals who can make a significant contribution to your non-profit organization. Crowdsourcing is community engagement at a much larger scale, and for non-profits it goes far beyond raising money. From pooling knowledge to micro-volunteering, consider taking advantage of the specific ways you can use crowdsourcing effectively. This white paper about crowdsourcing and nonprofits can help.


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NONPROFIT TECHNOLOGY

YARDZ Graduates from Tech Alpharetta

Tech Alpharetta | June 28, 2022

Tech Alpharetta, the nonprofit organization helping the City of Alpharetta to lead in innovation, announces that YARDZ has graduated from its Innovation Center. YARDZ becomes the 20th graduate from Tech Alpharetta’s startup incubator, which opened in the City of Alpharetta in 2015. YARDZ is a construction asset tracking platform that enables its construction industry customers to aggregate, automate, and manage the lifecycle of equipment rented or owned by those customers. YARDZ joined Tech Alpharetta in March 2020. The company has grown significantly since its founding, outgrowing its Innovation Center office, and now, headquartering in the City of Alpharetta. “YARDZ’s team members worked long hours at our Center every day for more than two years, but they always found the time to pay it forward, by volunteering their time and expertise to other entrepreneurs and to the community,” notes Tech Alpharetta President and CEO, Karen Cashion. “We’re so happy that they’ve chosen to headquarter and grow their company here in Alpharetta.” Tech Alpharetta provided us with so much valuable support, from introductions and connections, to mentoring and resources, along with a welcoming community of tech entrepreneurs. Headquartering here in Alpharetta was the obvious choice for us.” Jason Perez,YARDZ co-founder and CEO Tech Alpharetta’s Innovation Center is a thriving tech-startup incubator in Alpharetta that provides education, mentoring and other resources to its startup members to help them grow and succeed. About Tech Alpharetta Tech Alpharetta (previously the Alpharetta Technology Commission), the first organization of its kind in Georgia, was established in 2012 by the City of Alpharetta and is an independent, 501(c)(6) nonprofit organization today. The organization, whose mission is to help grow technology and innovation in Alpharetta, includes a strategic advisory board of Alpharetta’s leading technology companies, thought leadership events for area tech executives, and the Tech Alpharetta Innovation Center, a flourishing tech startup incubator that is home to more than 40 tech startups.

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NONPROFIT TECHNOLOGY

Habitat for Humanity International launches initiative to address the Black homeownership gap in the U.S.

Habitat for Humanity International | June 14, 2022

Leveraging funds provided in part by MacKenzie Scott's transformational donation, Habitat for Humanity International is launching a new initiative to address the racial homeownership gap—which now stands at nearly 30 percent, the widest it has been in more than 40 years. Habitat's Advancing Black Homeownership initiative deepens our commitment to increase homeownership opportunities for Black individuals and families—and address the racial and systemic bias that has stymied access to homeownership for generations—through programs that will help end the social and economic disparity many Black people and communities of color continue to face. Habitat is initially investing more than $25 million over the next three to five years—with a goal of raising $100 million or more—to develop and launch a slate of new programs, including an equitable commercial lending strategy and property acquisition fund through Habitat Mortgage Solutions, our community development financial institution. "These efforts are designed to help Black families build intergenerational wealth through homeownership and other strategic supports, such as developing more inclusive communities, increasing the availability of affordable homes near public transportation and jobs, and transforming concentrated areas of poverty into areas of opportunity," said Adrienne Goolsby, senior vice president of the U.S. and Canada for Habitat for Humanity International. "Ultimately, we want to reduce the impact a century of discriminatory housing policies has had on the Black community." Other initiative programs include financial coaching and counseling to help Habitat affiliates address the needs of applicants along their homeownership journey; a national Black homeowner advisory group to help Habitat for Humanity International develop strategies and implement programs to help increase Black homeownership; expanded advocacy outreach through the Cost of Home campaign; and collaborative efforts with affordable housing partners. Funding opportunities will also be made available to Habitat affiliates doing innovative work to help increase Black homeownership. Our mission is driven by our theological imperative to seek justice and to have mercy. Doing so through this work, we put God's love into action and help further our mission to build homes, communities and hope." Jonathan Reckford, CEO of Habitat for Humanity International About Habitat for Humanity International Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in south Georgia. Since its founding in 1976, the Christian housing organization has grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower.

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NONPROFIT MANAGEMENT

MB2 Dental Launches Charitable Organization

MB2 Dental | July 15, 2022

The dental partnership organization, MB2 Dental, has launched its own charitable Foundation – The MB2 Family Foundation, a 501(c)(3) non-profit with a mission to provide financial assistance to its 5,000 plus employees in the event they experience unforeseen, life-altering hardships such as natural disasters, extended illnesses, injuries, and more. Team members may nominate themselves or others for consideration for a monetary donation. The work of the Foundation will also include providing donations to local charities and organizations at the request of MB2 Dental's doctor partners and employees. The Foundation thrives through the generosity of its team members. Funding for the Foundation will come from MB2 Dental's doctor partners and team members through optional paycheck deductions and other fundraising events. "The number one priority of any family is to take care of each other; this is our dental family, With affiliated practices in over 35 states, supporting our doctor partners and their teams in any way possible is a top priority. The individuals who make up our MB2 family have always been ready to jump into action and help one another without hesitation. The Foundation allows us to streamline this." -Dr. Chris Steven Villanueva CEO and Founder, MB2 Dental. MB2 Dental's previous charitable initiatives include annual doctor-led mission trips and donating to local organizations such as the North Texas Food Bank, The Genesis Women's Shelter, and Salvation Army. MB2 Dental also annually conducts The Elves Initiative, a cause led by Dr. Villanueva encouraging MB2 Dental home office employees to nominate coworkers, family, friends, and neighbors for financial assistance around the holidays. The success and growth of the Elves Initiative served as inspiration for the MB2 Family Foundation. About MB2 Dental- Dallas, Texas-based MB2 Dental is a first-of-its-kind Dental Partnership Organization (DPO) founded and led by dentist and entrepreneur CEO Dr. Chris Steven Villanueva, with a mission to empower dentists to preserve their profession. Since its founding in 2007, MB2 has partnered with hundreds of dentists to help them stay in the driver's seat as they maximize their talents, connect as part of a community and build exceptional wealth. MB2 currently partners with dentists and specialists in more than 35 states.

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NONPROFIT MANAGEMENT

NABA Announces $1M CLA Foundation Grant to Grow Black Talent in Accounting

NABA | June 27, 2022

NABA, Inc., a nonprofit member-based association for accounting, finance, and business professionals announced that it received a grant of $1 million from the CLA Foundation to seed the nonprofit’s new Pathway to College program, support human capital needs, and create scholarships. “I am excited to path and pave a more just world together with the CLA team,” said NABA President and CEO Guylaine Saint Juste. “The $1 million grant allows us to design programs and services to give more young Black Business Leaders a sense of belonging that increases their propensity to choose accounting as a field of study and career pathway.” CLA (CliftonLarsonAllen LLP) and NABA commemorated their relationship in September 2021 with a first of its kind corporate sponsorship to help fuel the organization’s mission to advance diversity, equity, and inclusion within the profession. Through this work with NABA, CLA continues to increase workforce diversity and expand its pool of talent and improve the representation of Black individuals within the firm and the accounting profession. We’re working to significantly increase the number of accountants in the United States, not just for CLA, but across the industry. And we’re doing it with an inclusive mindset. Attracting and retaining talented diverse professionals is essential to the future of the profession. NABA is helping us do this within our own walls, even as we help NABA advance its programs and initiatives.” Jen Leary, CEO of CLA, one of the leading professional service firms in the United States The CLA Foundation grant was presented to Saint Juste at the NABA RECHARGE convention held in Hollywood, Florida June 21 – 24. CLA sponsored the NABA RECHARGE convention at the ”Pacesetter” level and hosted two sessions: “Be Well and Belong — Investing in Your Authentic Self” (for students) and “Living Your Inspired Career” (for professionals). “Our relationship with CLA is so much more than a dollar figure,” said Saint Juste. “From shared work spaces to strategic visioning to leadership consulting, we give each other energy and insights to continue to make headway toward our goals.” NABA’s Pathway to College program is designed to support Black high school, community college, and Historically Black Colleges and Universities students’ pathway into the public accounting and advisory profession, offering work experience along the journey. In addition to supporting the Pathway to College program over the next five years, a portion of the grant funds will be set aside to create a base for scholarships with lasting impact. CLA also plans to offer paid internships to students throughout the five-year grant commitment. These internships will provide students with real work experience to support them on their journey to becoming accounting professionals. CLA’s promise is “to know you and help you” and this includes its clients, its people and its communities. This grant is an example of how CLA is working with NABA to truly impact the Black community. “I believe the impact we have with NABA in the Black community will be replicated in the future,” said Leary. “I’ve seen our CLA Foundation contributions rise every year since inception. I couldn’t be more thrilled about the opportunities we have to support the communities in which we work and live, with equity, inclusion, and a dose of joy.” All CLA Foundation grant nominations originate with CLA team members. Since 2015, the CLA family has awarded over $6.5 million through 388 grants to organizations across the country. Learn more about the CLA Foundation. About NABA NABA, Inc. is a nonprofit membership association dedicated to bridging the opportunity gap for Black professionals in the accounting, finance, and related business professions. Representing more than 200,000 Black professionals in these fields, NABA advances people, careers, and the mission by providing education, resources, and meaningful career connections to both professional and student members, fulfilling the principle of our motto: Lifting as We Climb. About CLA CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. With more than 7,500 people, 121 U.S. locations, and a global vision, we promise to know you and help you.

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Spotlight

The crowd is a diverse group of capable individuals who can make a significant contribution to your non-profit organization. Crowdsourcing is community engagement at a much larger scale, and for non-profits it goes far beyond raising money. From pooling knowledge to micro-volunteering, consider taking advantage of the specific ways you can use crowdsourcing effectively. This white paper about crowdsourcing and nonprofits can help.

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