Warren Buffett Foundation is one of the best ways billionaire Warren Buffett has used to give back to society. This foundation is based in his hometown Omaha in Nebraska. The aim of Warren Buffett Foundation is to help the needy in society by providing them with basic needs. The foundation was later renamed to Susan Thompson Buffett Foundation. Susan Buffett was Mr. Buffett’s wife who passed on in 2004.
Mr. Warren established the foundation in 1964 and was not run by a director until his then son-in-law (Mr. Allen Greenberg) took the job. The chairperson of the Warren Buffett Foundation is Susie Buffett Mr. Warren’s daughter. She has exhibited great leadership skills in managing finances in the foundation. It is important to note that the foundation does not accept pleas they choose to seek viable beneficiaries on their own.
Tremendous progress has been made by the donations the foundation makes to the society. For example in 1999 the Warren Buffett Foundation made a donation worth $17.6 million. An approximated $ 3.8 million was redirected to the clinics to cater for planned parenthood what a great impact they made. The foundation is significant in giving financial grants to companies and institutions such as Marie Stopes WFP and IPAS. The money is crucial for their day-to-day activities.
The foundation offered scholarships to over 100 students who were undertaking their college education when it began. This number continues to increase each year and currently stands at 770. Mr. Warren planned to make this his greatest act of charity, however, he decided his largest donation will be given to his best friend’s foundation. The Gates Foundation has become a great source of admiration to Mr. Buffett.
The Warren Buffett Foundation receives $3 billion each year to finance its projects. This is one of the greatest acts of charity that Nebraska has ever known. What a beautiful journey Mr. Warren began.