Page 11 - aruba-today DEC 14 2020

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BUSINESS Monday 14 deceMber 2020
Donations soar but nonprofits still struggle with pandemic

By SALLY HO up investment accounts for
Associated Press charitable giving this year.
SEATTLE (AP) — The Ameri- But, the donor-advised
can spirit of generosity this fund operator, which gen-
holiday season may be no erally caters to a wealthier
match for the coronavirus. donor base, also said two-
Despite record amounts thirds of its surveyed donors
of charitable donations decreased or stopped vol-
this year, the effects of the unteering during the pan-
pandemic are suffocating demic.
nonprofits across the coun- There have been efforts
try as organizations face to encourage more giv-
soaring costs and demand ing since the coronavirus
for help, yet are largely took hold of modern life in
without their own support March.
systems, including volun- The IRS is urging the pub-
teers and in-person fund- lic to utilize a special $300
raising events. tax deduction that can
December is typically the be claimed next year for
most important month cash donations in 2020 to
for nonprofit revenues, as tax-exempted nonprofits.
Christmas and end-of-year The initiative allows non-
tax deductions drive a itemized filers to get the tax
flood of charitable giving. A Salvation Army sign includes information for making online and remote donations in front of a break only for 2020, as part
The holiday campaign sea- grocery store, Tuesday, Dec. 8, 2020, in Linden, Wash. of the Coronavirus Aid, Re-
son that charities big and Associated Press lief and Economic Security
small rely on is underway public opts to stay at home. food, toys, and rent assis- ber of people who partici- Act passed by Congress
in full force amid a resurg- Its pool of volunteer bell tance as eviction moratori- pated in the movement to last spring.
ing pandemic that has in- ringers is smaller, as many ums expire. donate on the Tuesday af- Big philanthropic players
fected more than 16 mil- older helpers — some who “The numbers in terms of ter Thanksgiving in the U.S. have also stepped up.
lion people and claimed dress up as Santa Claus — the people who we are The organization said 16.8 The Ford Foundation said
nearly 298,000 lives in the are unable to participate serving are simply off the million people across the it has already surpassed
U.S. alone. because they’re at high- charts and how we’re go- country gave a collective last year’s total giving with
The Salvation Army, al- risk for COVID-19. There’s ing to meet the increased $2.47 billion on Dec. 1 — a $580 million in grants. It’s
ready down 18% in fund- even a national coin short- need is causing us to be 25% increase in total dol- giving another $400 million
ing this year, projects its age, in part because pan- concerned about the giv- lars compared to Giving through a bond. Ford and
Red Kettle campaign will demic shopping has turned ing levels we’re seeing so Tuesday last year. That’s four other foundations an-
net half as much as it did increasingly digital. far,” said Kenneth Hod- more than what any single nounced earlier this year
in 2019. That’s a $60 million The Salvation Army’s thrift der, the U.S. national com- U.S. philanthropic founda- they would borrow $1.7 bil-
drop for the iconic fundrais- stores as a separate fund- mander for the Salvation tion gave in 2019, with the lion through bonds to help
ing drive being crippled by ing stream are also project- Army. exception of the Bill and keep afloat donations-de-
the pandemic in numerous ed to take a $150 million hit But multiple studies and Melinda Gates Foundation, pendent nonprofits through
ways. this year. surveys say more people said Woodrow Rosenbaum, the crisis.
Thousands of kettle loca- The Christian social services than ever are giving and GivingTuesday’s chief data “Even in the best of times,
tions were eliminated be- charity expects 6.6 million at greater amounts than officer. even the most well-known
cause the businesses that people — a 155% increase usual. Fidelity Charitable said it nonprofits live on the edge
once hosted them have over last year — will seek The GivingTuesday Data has distributed 32% more financially,” said Hilary Pen-
closed and foot traffic has their help between Thanks- Commons estimates there grants and seen a 20% in- nington, an executive vice
diminished as much of the giving and Christmas, for was a 23% jump in the num- crease in people setting president at Ford.q

Oracle says it will move HQ from Silicon Valley to Texas

REDWOOD CITY, Calif. (AP) said in a regulatory filing. Texas has long targeted
— Tech giant Oracle Corp. The move comes the same companies in high-cost
said Friday it will move its week that Tesla founder California for relocation.
headquarters from Silicon Elon Musk announced that This month, Hewlett Pack-
Valley to Austin, Texas, he has moved to Austin. ard Enterprise, one of the
and let many employees Musk had criticized Califor- early companies in Silicon
choose their office loca- nia officials for restrictions Valley, said it will move to
tions and decide whether designed to limit the coro- the Houston area and build
to work from home. navirus pandemic. a campus with two five-
The business software mak- Texas Gov. Greg Abbott story buildings by 2022. In
er said it will keep major quickly boasted about Or- 2018, Toyota shifted its U.S.
hubs at its current home in acle’s decision. headquarters from South-
Redwood City, California, “Oracle just announced ern California, to Plano,
and other locations. they have moved their Texas, a Dallas suburb.
“We believe these moves headquarters to Austin,” In its most recent fiscal This June 26, 2007 file photo shows the exterior of Oracle Corp.
best position Oracle for Abbott tweeted. “Texas is year, which ended May 31, headquarters in Redwood City, Calif.
growth and provide our truly the land of business, Oracle reported earnings Associated Press
personnel with more flexibil- jobs, and opportunity. We of $10.1 billion on revenue
ity about where and how will continue to attract the of about $39 billion. The in Santa Clara, California, employed about 135,000
they work,” the company very best.” company was founded in 1977 and as of May 31, people.q