Tipping Point Raises $8 Million to Prevent Poverty with Bay Area Giving Challenge

SAN FRANCISCO, May 11, 2012 /PRNewswire/ -- Tipping Point Community, the Bay Area's leading poverty-fighting organization, today announced that its annual benefit held last night raised a record-breaking $8 million, and 100 percent of the money raised will go to local nonprofits that provide education, housing, employment and wellness services to low-income individuals and families, as Tipping Point's board underwrites all event costs.

As waitlists for family housing, mental health support and other vital human services continue to grow, and as California faces a third consecutive year of widespread statewide budget cuts to safety net programs, Tipping Point Community's benefit focused this year's major fundraising effort on providing more unrestricted dollars to the most effective education, housing, employment and wellness programs serving low-income communities in the Bay Area.

Million dollar matching pledges from Google co-founder Sergey Brin and his wife Anne Wojcicki, co-founder of 23andme, Helen and Charles Schwab, and Fiona and Stanley Druckenmiller of New York fueled the campaign. This year's auction raised $6 million from 400 donors, which will allow Tipping Point to add seven nonprofits to its portfolio and grow the average general operating grant size by 26%, thereby reaching a total of 75,000 people in need over the next year.

"For every single one of the 160,000 people Tipping Point has reached over the past seven years, there are hundreds of thousands more waiting for a chance," said Tipping Point Community Founder + CEO, Daniel Lurie. "It's up to us to create more opportunities at the very best poverty-fighting organizations for those who are ready to do whatever it takes to change their lives."

The benefit was co-chaired by Gayle and Ron Conway, Jane and Wyatt Gruber, Marissa Mayer and Zachary Bogue, and Dawn and David Zierk. Daniel Lurie and local auctioneer Mark Buell hosted the sixth annual event, while Jed York, CEO of the San Francisco 49ers and Tipping Point board member, addressed the guests as well. Band of Horses entertained the nearly 2,000 guests who gathered at Pier 48 for the fundraiser, and DJ Ruckus spun for the lively after-party.

Of the evening, Mr. Lurie said, "We are incredibly humbled, not only by the generosity of our million dollar heroes, but by every single person who came to the table last night on behalf of the 1.3 million Bay Area individuals and families who are too poor to meet their basic needs."

Visit tippingpoint.org to learn more and to get involved.

About Tipping Point Community

Tipping Point screens nonprofits rigorously to find the most effective groups connecting low-income people to the services and opportunities needed to break the cycle of poverty and achieve economic self-sufficiency. Tipping Point's board underwrites all operating and fundraising expenses so that 100% of every dollar donated goes directly to the fight against poverty.  Beyond dollars, Tipping Point provides its grantees with the communications, technical and management support they need to grow and increase their impact. More information about Tipping Point Community is available at tippingpoint.org.

SOURCE Tipping Point Community