The American Electric Power (AEP) Foundation announced 3/3/09 that it will donate $200,000 to respond to The Columbus Foundation's Critical Need Alert and the creation of the Safety Net Fund to help 20 area nonprofit organizations offer food and housing to people in need in central Ohio.
"Our decision to join with The Columbus Foundation in this effort is simple," said Michael G. Morris, chairman of The AEP Foundation and AEP chairman, president and chief executive officer. "People in our community are feeling the impact of the economic downturn. We know that an increasing number of families and individuals are in crisis, and we want to help ensure that they have the most essential of life's necessities - food to eat and a warm, safe place to sleep."
Original post:
The Columbus Foundation has established a Safety Net Fund in response to the critical needs facing Columbus, Ohio. To seed the fund and to support 20 selected organizations providing safety net services to Columbus residents in need, the Foundation is using its PowerPhilanthropy platform to engage donors and the public in a matching gift program, described like this:
Your gift to the Safety Net Fund or any of the 20 organizations included within will be matched. Thanks to The Columbus Foundation’s Governing Committee and several generous donors, for every dollar contributed, fifty cents will be added, until the match is exhausted. A total of $400,000 in matching funds for existing donors and the public is currently available.
The matching program for existing donors to the Columbus Foundation kicked off February 5, 2009.
There is no gift maximum per fund or organization. Up to $300,000 in matching funds will be available to Foundation donors, with matching funds that remain as of February 26 to be rolled over into the public match.
The public match day kicks off Thursday, February 26, 2009 at 2:00 pm.
The public is invited to make gifts online through PowerPhilanthropy at www.columbusfoundation.org. The Foundation is setting aside at least $100,000 (plus any remaining match funds from the Foundation donor match period) to match online credit card donations to eligible nonprofits or to the Safety Net Fund in the amount of fifty cents for every dollar contributed, until funds are exhausted. Anyone can give, with a minimum gift of only $20. There is no gift maximum per individual or per organization.
Pretty cool. Sounds like a great way to level the philanthropic playing field, enabling anyone with twenty bucks to participate in leveraging good works with grant dollars. And, it will help a lot of people who need it right now. Nice.
--Cindy Bailie
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