The David A. Tepper Charitable Foundation and Bank of America each announced that they are donating $1 million apiece to the COVID-19 Response Fund, a community-wide effort to assist those affected by the coronavirus pandemic. The fund has collected more than $7.8 million in donations in just four days.
Foundation For The Carolinas and United Way of Central Carolinas launched the fund March 16 to support a range of nonprofit organizations assisting members of the community, particularly those most vulnerable. Donations have come from various sectors: corporations, local governments, individual philanthropists and foundations.
“At Bank of America, supporting our community and responding to some of the biggest challenges we face in our headquarters city is what we do,” said Charles Bowman, Bank of America Charlotte Market President. “Many of those who live here, like many others around the world, are hurting because of the coronavirus crisis, and this fund is a way to deploy resources to immediately address some of their most basic needs.”
Carolina Panthers Owner David Tepper also announced he was contributing $1 million to the fund through his foundation.
“David Tepper has emerged as one of our most influential leaders and a champion in the philanthropic field,” said Foundation For The Carolinas President and CEO Michael Marsicano. “This generous gift is an expression of his heartfelt commitment to the well-being of our citizens. Now is the time for us all to come together to help one another”
Individuals are urged to donate at HelpCharMeck.org. Local agencies and nonprofits are already feeling the strain to deal with increased needs as the economy tightens, workers are asked to stay home, school cancellations cause disruptions and those without insurance are facing additional challenges getting the care they need.
Donations to the COVID-19 Response Fund have ranged from a $5.20 commitment from an anonymous online donor to $1 million gifts from LendingTree, the City of Charlotte, the Howard R. Levine Foundation and Truist Financial Corporation, with the largest gift from Mecklenburg County with $1.3 million.
Bank of America’s gift was part of a larger $100 million commitment to help local communities hurt by the coronavirus pandemic.
“We are so thankful for companies such as Bank of America and individuals like David Tepper for their incredible generosity, and we urge others to join the cause,” said United Way of Central Carolinas President and CEO Laura Yates Clark. “Local nonprofits are already taxed with increased demands to help citizens in need and the financial strain from doing so. This fund will give our nonprofits the resources to provide relief to those most needed. I’m confident we will emerge from this crisis as an even stronger community.”
The fund is administered through a partnership between Foundation For The Carolinas and United Way of Central Carolinas, in close coordination with the City of Charlotte and Mecklenburg County. Grants will be awarded by an advisory group of community members and will be open to any agency that meets the eligibility criteria. The advisory committee may elect to make grants directly to organizations based upon the urgency of the need or through a competitive grantmaking process.
Details regarding the grants program will be forthcoming as fundraising continues. Interested 501(c)3 nonprofits in Mecklenburg County can visit uwcentralcarolinas.org/grants/
To contribute to the COVID-19 Response Fund, visit HelpCharMeck.org. Corporations and foundations that wish to make a donation may contact either Catherine Warfield, Senior Vice President of Philanthropic Advancement at FFTC, at 704.973.4515 or email@example.com; or Clint Hill, Chief Development Officer at United Way of Central Carolinas, at 704.371.6359 or firstname.lastname@example.org.