TPI's Center for Global Philanthropy to Direct New US-Nepal Fund at the Boston Foundation
Center for Global Philanthropy at The Philanthropic Initiative to direct funds to grassroots Nepali organizations
BOSTON, MA (Monday, May 18, 2015) – The Center for Global Philanthropy at The Philanthropic Initiative (TPI) today announced the establishment of the The US-Nepal Fund at the Boston Foundation, a unique donor advised fund that will draw from the wisdom of Nepali Americans and international development experts to assist grassroots Nepali organizations caring for the victims of the earthquakes which struck Nepal on April 25 and May 12. Nepali involvement will ensure cultural competence, provide needed networks, and lend crucial expertise to ensure every dollar sent goes to organizations that can have the greatest impact locally. All funds raised will support community-led, long-term reconstruction and renewal with attention to human rights.
The April 25 earthquake in Nepal killed more than 8,000 people, injured thousands and left millions homeless and without food and clean water. With a 7.9 magnitude and an epicenter just 50 miles from the nation’s capital, Kathmandu, this was the worst earthquake to hit Nepal in more than 80 years, causing mass destruction and ruin for millions of Nepalese people. Little more than two weeks later, on May 12 Nepal suffered another 7.3 magnitude earthquake and powerful aftershocks.
The US-Nepal Fund is seeded by a challenge grant from donors of the Boston Foundation community, Karen Keating Ansara and Jim Ansara. The Ansaras, long-time grant makers to Nepal, will match the first $100,000 in gifts from other funders. The fund will accept money from donors across the US, and distribute all funds by December 2015. All donations will support reconstruction and renewal efforts, as administrative fees will be covered through the initial grant.
“There is tremendous need right now to respond to this disaster and the subsequent earthquake and aftershocks of May 12,” said Maggi Alexander, Partner, Center for Global Philanthropy at TPI. “While many are donating in the short term to quell immediate needs in the aftermath, Nepali citizens will need ongoing long-term support to recover from the earthquakes. The US-Nepal Fund allows us to direct funds strategically and quickly, in a six-month period. Contributions from our donors can have immediate impact in assisting long-term, community-led reconstruction efforts.”
The US-Nepal Fund will draw on lessons learned through The Haiti Fund and the Japanese Disaster Relief Fund. “Lessons from Haiti have taught us how essential philanthropy is to a natural disaster response effort,” said Karen Ansara. “We saw foreign aid pledges committed, but often not fulfilled. We also learned that engaging a country’s US diaspora is so important when responding to an immediate crisis. The diaspora of any country is one of its most priceless resources,” she said. “They have the passion, they have the staying power, and they often have tremendous technical expertise.”
The US-Nepal Fund will be directed by the Center for Global Philanthropy, a group of grant makers, social investors, and advisors catalyzing tens of millions of dollars around the globe through strategic advising, innovative partnerships, and original research to help in the response of immediate crises, such as the Nepal earthquakes.
Those interested in donating to the fund can do so by recommending a grant from a donor advised fund at the Boston Foundation or by making a gift directly to fund. The minimum contribution is $250. For more information or to make a donation, visit the Boston Foundation’s website at The US-Nepal Fund at the Boston Foundation.
About The Philanthropic Initiative (TPI)
The Philanthropic Initiative, pioneers in the field of strategic philanthropic advising, helps companies, foundations, families, and individuals maximize the impact of their giving. As a partner of the Boston Foundation, one of the oldest and largest community foundations in the nation, TPI’s reach is local, national and global. TPI’s Center for Global Philanthropy facilitates bold and insightful giving around the world. Through TPI’s advisory services as well as partnerships with international experts and local organizations, the Center creates innovative and effective philanthropic strategies that address global challenges and promote better giving worldwide. Since 1989, TPI has directed more than $1 billion in philanthropy and influenced billions more on behalf of its clients. For more information about The Philanthropic Initiative visit www.tpi.org or check out our blog Deep Social Impact. We’re also on LinkedIn and Twitter @TPIPhilanthropy.
About The Boston Foundation
The Boston Foundation, Greater Boston’s community foundation, is one of the largest community foundations in the nation, with net assets of some $1 billion. In 2014, the Foundation and its donors made more than $112 million in grants to nonprofit organizations and received gifts of nearly $112 million. In celebration of its centennial in 2015, the Boston Foundation has launched the Campaign for Boston to strengthen the Permanent Fund for Boston, Greater Boston’s only endowment fund supporting organizations focused on the most pressing needs of Greater Boston. The Foundation is proud to be a partner in philanthropy, with nearly 1,000 separate charitable funds established by donors either for the general benefit of the community or for special purposes. The Boston Foundation also serves as a major civic leader, provider of information, convener and sponsor of special initiatives that address the region’s most serious challenges. For more information about the Boston Foundation, visit www.tbf.org or call 617-338-1700.
The Philanthropic Initiative
jmontone [at] tpi.org617.338.5880