« Economic Democracy: A Conversation With Funders | Main | Jeff Bezos and Climate Change »

Update on the Philanthropic Response to COVID-19

March 13, 2020

Editor's note: Since this post was published on the Candid blog two days ago, Candid has released a pop-up webpage focused on philanthropy’s response to the novel coronavirus emergency. Although we plan to update the page regularly, there often are lags in getting data from different sources, so be sure to check it often for updates.

800px-2019-nCoV-CDC-23312_without_backgroundOn March 3, we reported on the philanthropic response to the novel coronavirus (COVID-19) outbreak. At that time, donations in support of the response to the outbreak dwarfed funding for emergency relief and recovery efforts in response to recent natural disasters: whereas pledges and donations for eight recent major hurricanes, earthquakes, and wildfires totaled more than $898 million, the philanthropic response to the COVID-19 outbreak quickly surpassed $980 million. The vast majority of the funds — both in terms of number of pledges and dollar value — came from donors in China and the United States, with private companies leading the way.

Those totals have grown since our first post. Here is the latest update (as of March 10).

What has changed

  • Total giving has increased from $980 million to $1.3 billion.
  • The number of pledges from South Korea has grown from three to nine, with the total dollar amount of pledges from that country increasing from $6.2 million to $46.7 million.
  • The new funders from South Korea are:
    • Amorepacific Corporation
    • Hyundai Motor Company
    • LG Group
    • Samsung Group
    • SK Group
  • Corporate giving, which accounted for 86 percent of the pledges and 81 percent of the dollar value, now comprises 83 percent of pledges and 80 percent of the dollar value.
  • China and the United States, which accounted for 84 percent of the pledges and 97 percent of the dollar value, now account for 80 percent of pledges and 90 percent of the dollar value.
  • Evergrande Group, a China-based real estate company, is the most generous donor, contributing $115 million to a consortium of Boston-area clinicians and research institutions in support of their efforts to develop diagnostic tools, treatments, and vaccines for COVID-19. And the Wellcome Trust, a UK-based foundation, has contributed $50 million to the COVID-19 Therapeutics Accelerator in support of its efforts to coordinate research and development of therapeutics and remove barriers to scaling treatments for the disease.

We are in the process of adding these and other COVID-19 pledges to our free Measuring the State of Disaster Philanthropy funding map, which was created in partnership with the Center for Disaster Philanthropy.

Agrabois_picHave an update we should know about? Email Andrew Grabois, corporate philanthropy manager at Candid, at Andrew.Grabois@Candid.org.

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Contributors

Quote of the Week

  • "I think one's feelings waste themselves in words; they ought all to be distilled into actions which bring results...."


    — Florence Nightingale (1820-1910)

Subscribe to Philantopic

Contributors

Guest Contributors

  • Laura Cronin
  • Derrick Feldmann
  • Thaler Pekar
  • Kathryn Pyle
  • Nick Scott
  • Allison Shirk

Tweets from @PNDBLOG

Follow us »

Archives

Tags