Seattle Foundation and Local Philanthropists Increase GiveBIG "Stretch Pool" by $300,000

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May 03, 2012, 04:39 ET

New dollars reward community generosity following $7.4 million giving campaign

SEATTLE, May 3, 2012 /PRNewswire-USNewswire/ -- Following the stunning results of GiveBIG, The Seattle Foundation, local businesses and philanthropists have added $300,000 more to the "stretch pool" that will leverage the $7.4 million in gifts made yesterday through the online giving campaign.

During this 24-hour online event held on May 2, people made nearly 38,000 donations to more than 1,200 local nonprofits profiled on www.seattlefoundation.org. The Seattle Foundation promises to "stretch" these gifts further, making a prorated "stretch" or match of every contribution using a pool of $500,000 provided by corporate sponsors, individual contributors and the Foundation. Today's announcement brings the "stretch pool" to $800,000, allowing for a larger proportional match than would have otherwise been possible.

"The "GiveBIG" campaign generated a stunning $7.4 million in online contributions for nonprofits, more than twice last year's results of $3.6 million," said Norman B. Rice, president and chief executive officer of The Seattle Foundation. "We are delighted to see many local businesses and philanthropists we work with step up and reward the community for its exceptional generosity."

The majority of the new stretch funds come from families who partner with The Seattle Foundation to manage their philanthropy. Inspired by the high volume of donations on the afternoon of GiveBIG, they committed to support GiveBIG's success in this very important way, said Rice.

The $300,000 in new funds adds to $500,000 already committed by local businesses and philanthropists, led by Bezos Family Foundation, JPMorgan Chase, Microsoft and the Seattle International Foundation, as well as The Seattle Foundation. A total of 35 companies and individuals supported GiveBIG with funding and in-kind contributions, including The Seattle Sounders who were a presenting partner.

GiveBIG attracted donations from all 50 states and 23 foreign countries. The areas receiving the highest overall level of gifts were Arts & Culture ($1.66 million), Health & Wellness ($1.33 million) and Basic Needs ($1.28 million). Planned Parenthood of the Great Northwest received the highest number of individual donations, with 1,217 gifts. The Seattle Foundation will notify nonprofits of their GiveBIG total gifts and share of the stretch pool within one week. (GiveBIG results are preliminary until funds are distributed.)

Fourteen organizations received GiveBIG "Golden Tickets," which are additional gifts of $1,000, when a donation to them was selected in random drawings. Golden Ticket recipients were: Sightline Institute, Impact Capital, Diocese of Olympia, Seattle Public Library Foundation, GreenStage, CoolMom, Museum of Glass, KCTS Television, Pediatric Interim Care Center, Puget Soundkeeper Alliance,Cedar River Clinics, Operation Nightwatch, Sea Mar Community Health Centers, and Northwest Immigrant Rights Project.

GiveBIG information and updates are available on www.seattlefoundation.org and The Seattle Foundation's Facebook page.

SOURCE The Seattle Foundation