Blue Meridian Partners, an independent 501(c)(3) built on a performance-based investing approach, leadership in aggregating capital, and strong co-investing relationships, has announced the launch of a $100 million COVID-19 emergency response initiative in support of low-incomeĀ individuals and families impacted by the public health crisis.
The two-pronged initiative will provideĀ direct cash assistanceĀ to vulnerable populations and will fund efforts to help low-income people access public assistance, with an initial round of investments going to theĀ Family Independence Initiative,Ā GiveDirectly, theĀ National Domestic Workers Alliance,Ā One Fair Wage, andĀ The Workers Lab, all of which are providing cash payments to people who need financial assistance immediately but are unable to access public benefits quickly. In the coming weeks, Blue Meridian will invest in additional organizations and strategies designed to help millions of low-income individuals and families access public benefits, from federal stimulus aid, to the Supplemental Nutrition Assistance Program (SNAP), to the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC).
Originally incubated at theĀ Edna McConnell Clark FoundationĀ andĀ establishedĀ as a collaborative in partnership with nine other donors and funders in 2015, Blue MeridianĀ became an independent nonprofitĀ in 2018 as EMCF began the process of sunsetting. The COVID-19 emergency response initiative is supported by the organization’s general partners ā including theĀ Ballmer Group,Ā MacKenzie Bezos, theĀ Sergey Brin Family Foundation, theĀ Druckenmiller Foundation, theĀ Duke Endowment, EMCF, theĀ George Kaiser Family Foundation,Ā theĀ JPB Foundation, theĀ Samberg Family Foundation, and theĀ David Tepper Charitable FoundationĀ ā and Impact Partners, includingĀ Arrow ImpactĀ and theĀ Aviv,Ā Bill & Melinda Gates,Ā Charles and Lynn Schusterman Family,Ā Eugene and Marilyn Stein Family, andĀ William & Flora HewlettĀ foundations.
“In our ongoing work, the organizations that Blue Meridian supports are on the frontlines of the social sector, steadfastly serving vulnerable communities that stand to suffer most from COVID-19 and its long-term impacts. We draw inspiration from their work and the ways in which they are innovating to deliver on their missions amid severe challenges,” the organization said in a press release. “Where opportunities exist, we are also backing them in accelerating their work to meet the growing need this pandemic has engendered. And once these organizations and their leaders are ready to look toward the future, we will help them pivot to focus on recovery and resilience.”
Source: PND
