A new philanthropic collaborative known as “Blue Meridian” plans to invest “at least $1 billion in high-performing US nonprofits that can have truly national impact for economically disadvantaged children and youth,” reports Forbes. Acclaimed players in the new group include (but are not limited to) former Microsoft CEO Steve Ballmer, hedge fund manager Stan Druckenmiller, as well as the Edna McConnell Clark (EMCF) and Hewlett Packard Foundations.
In an unparalleled bet on social change, the new philanthropy powerhouse intends to grant $100 million or more to individual nonprofits with successful histories of helping disadvantaged youth– the magnitude of this investment is “without comparison” among living donors.
According to Forbes, Blue Meridian’s audacious moves are taking three fledgling philanthropic trends to “the next level.” The trends are: “collaboration between big funders,” “focus on evidence and growth potential,” and “investment in capacity building and organizations.”
Read full story at: Forbes