Tipping Point Community, a leading organization fighting poverty in the San Francisco Bay Area, just got a major boost from a newly formed coalition of tech companies. Led by Salesforce.com Chairman and CEO Marc Benioff, Silicon Valley tech companies are being asked to contribute a minimum of $500,000 to the SF Gives campaign, which will focus on providing access to jobs, housing, education and health care in the Bay Area.
In addition to Salesforce, Box, Dropbox, Google, IfOnly, Jawbone, LinkedIn, POPSUGAR, Inc. and Zynga have already joined the coalition as founding members, bringing the total donations so far to $5 million. The group is actively seeking donations from other tech companies in the area, and with the names on board so far, we'll likely see contributions from more major tech players soon. And since Tipping Point underwrites its organizational expenses, 100% of the amount raised through this campaign will be going to programs that directly benefit the community.
Tipping Point has been in operation since 2005, and has raised btween $13 and $16 million per year the last several years, so this new $10 million campaign will represent a relatively significant increase in their grantmaking abilities. And if their past grantmaking profile is any indication, a lot of that money will probably be making its way out the door relatively quickly. Much of it is unrestricted funding, so it's a good place for Bay Area organizations that deal with education, job training, housing, and family wellness to seek grants.
That doesn't mean it won't be highly competitive, however—more than 100 organizations were screened in 2013, and only six received grants. Still, the Tipping Point's rigorous screening process can be worth it for the organizations that fit their mission; grants usually start in the $100,000 range, and can often be several times that.
To learn more about Tipping Point's grantmaking approach, and start the application process, click here.