Saturday, February 25, 2006

Foundation Center: Nearly $3 Billion Given by Private Sources to Katrina Victims

Via the Accounting Web website (click title above for link): The Foundation Center, which monitors giving from corporate and foundation donors, found that $2.96 billion were given in private aid in response to Hurricane Katrina and the subsequent flooding in New Orleans. Of this amount, one-sixth or about one-half billion came from corporate and foundation giving. Cited as especially generous were: Starkey Help America Hearing Project, Walmart, Federal Home Loan Bank of Cincinnati, Freddie Mac mortgage, General Electric, Cox Communications, Office Depot, Comcast and IBM. This, along with the response to the tragic events of 9/11/01, were billion-dollar giving events.

Another source, though not listed by the Foundation Center, that deserves credit for the private response to Katrina was N.Z. Bear's blogosphere mobilization. Heavily promoted on Instapundit and with numerous participants in the financial blogosphere, this effort was an effective display of the grass-roots power of bloggers.


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