Corporate funders support COVID-19 relief (update – 06/24/2020)

Corporate funders support COVID-19 relief (update – 06/24/2020)

Clif Bar & Company has announced a donation of seven million CLIF, CLIF Kid, and LUNA Bars to help feed families experiencing food insecurity as a result of the COVID-19 pandemic. The donation to food banks and community organizations is in addition to the company's previous donation of seven million energy bars for frontline healthcare workers and first responders. The company also has repurposed the employee café at its headquarters in Emeryville, California, and will prepare up to four hundred and fifty meals a week for Oakland Unified School District volunteers. According to a survey by the Brookings Institution's Hamilton Project, food insecurity has increased more than 200 percent during the public health emergency. 

Multinational beverage producer Diageo has announced a $20 million fund to help African-American communities and Black-owned businesses recover from the impacts of COVID-19. With a focus on businesses, partners, and individuals engaged in the hospitality industry, the fund will award targeted grants in support of advocacy efforts, training for business owners and employees, and emergency relief assistance.

Duke Energy has announced a $150,000 commitment through its foundation to provide financial assistance to women-, veteran- and minority-owned small businesses in the Cincinnati area impacted by COVID-19. The Cincinnati USA Regional Chamber and the Northern Kentucky Chamber will each receive $75,000 that they can regrant to Duke Energy small business customers with less than $1 million in annual revenues.

Opportunity Finance Network has announced a first round of Grow with Google Small Business Fund loans and grants from Five community development financial institutions (CDFIs) received loans totaling $15.5 million to be deployed to small businesses impacted by the COVID-19 emergency and civil unrest, while six CDFIs received $750,000 in grants to better serve women- and minority-owned small businesses. The recipients are Citizens Potawatomi Community Development Corporation ($1 million loan, $125,000 grant), Grameen America ($5 million loan, $125,000 grant), MoFi ($3 million loan), the Opportunity Fund ($5 million loan, $125,000 grant), PeopleFund ($1.5 million loan, $125,000 grant), Pacific Community Ventures ($125,000 grant), and Washington Area Community Investment Fund ($125,000 grant).

The MetLife Foundation has announced a $425,000 grant to SaverLife, a nonprofit fintech company that helps low-income working families achieve prosperity through savings. Part of MetLife Foundation's $25 million commitment in support of COVID-19 response efforts, the grant will enable SaverLife to provide cash assistance to roughly eight hundred clients facing economic instability as a result of the public health emergency.

The New Balance Foundation has announced grants totaling $1.25 million in support of COVID-19 relief efforts by human service agencies providing food, shelter, and critical aid to underserved populations; youth-serving nonprofits helping families with food, counseling, physical activity, and virtual learning; health organizations; and cultural institutions. Recipients include Boston Children's MuseumEssex Art CenterHealthy Oxford HillsSoccer Without Borders, and the Urban Food Initiative/Daily Table.

TD Bank has announced a C$10 million ($7.38 million) commitment in support of innovative and measurable solutions for addressing the impacts of the COVID-19 pandemic through its annual TD Ready Challenge. As part of the bank's $25 million TD Community Resilience Initiative in support of COVID-19 relief efforts, the challenge will award grants of between C$350,000 ($258,529) and C$1 million ($738,569) for projects that address inequities exacerbated by the pandemic in the areas of financial security, the environment, community engagement, and health.

For more information about the philanthropic response to the coronavirus, including a funding summary, a list of emergency resources for individuals and small businesses, and a list of funds established in response to the pandemic, visit Candid's COVID-19 popup page.

(Photo credit: Clif Bar)