Scott Bade is a ancient speechwriter for Mike Bloomberg and co-creator of “Extra Human: Designing a World Where Of us Come First.”
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Over the last decade, Silicon Valley Community Basis has transform thought to be one of the predominant fave locations for tech philanthropy.
Counting Impress Zuckerberg, Jack Dorsey and Reed Hastings amongst its donors, SVCF has quietly transform a philanthropic powerhouse. As a community foundation, it made $126 million in grants in 2018 in San Mateo and Santa Clara counties (basically the most trendy twelve months for which numbers luxuriate in been readily available), but its correct energy comes from the nearly $9 billion in donor-advised funds (veritably identified as DAFs) it oversees.
DAFs luxuriate in transform standard amongst nicely off donors in most trendy years because they bring the tax advantages of a donation with out requiring that a straight away donation be made. They also courted controversy, with critics accusing them of being a vehicle for tax sheltering.
No longer so, says Nicole Taylor, SVCF’s CEO and president. Appointed a twelve months previously after her predecessor was ousted in scandal, Taylor is working to swap the state of DAFs whereas no longer easy her donors to take care of the Bay Assign’s irregular challenges, like housing, inequality and transportation. I spoke to Taylor about how the tech sector can keep better with its giving.
TechCrunch: Let’s delivery by explaining how a community foundation works?
Nicole Taylor: Community foundations are a vehicle for folks that want to present that include a far better tax benefit and advising benefit than constructing non-public foundations [whose] overhead is costly. Most folks don’t want to creep there; they need a situation that helps them with their giving and they’ll must luxuriate in that connection wait on to their local folks.
Community foundations luxuriate in been started in the Midwest and are over 100 years oldschool. There are over 800 of us. We wait on particular geographic areas. Our core focal point [at SVCF] is the Silicon Valley internet site, the 2 counties here – Santa Clara and San Mateo.
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