These are tough economic times we live in, but philanthropic organizations are still willing to give big money to causes that improve the lives of people in need.
That was the key message that Bill Gates sent when his organization, the Bill & Melinda Gates Foundation, committed $750 million to the Global Fund to Fight AIDS, Tuberculosis, and Malaria. The major gift came in the form of a promissory note, a new funding mechanism that allows an organization to distribute funds based on immediate needs, which leads to greater impact.
The Gates Foundation has always placed a high priority on deadly diseases with its philanthropic efforts. The organization has already contributed $650 million to the Global Fund since its inception 10 years ago at the World Economic Forum, which is a gathering of the world's top business and political leaders. In addition, the foundation has a Global Health Program that uses advances in technology to help save lives in poor nations. Most of this work is done through grants to partner organizations.
Since 2002, investments to the Global Fund have helped develop innovative treatments for AIDS, tuberculosis, and malaria in developing countries around the world. The organization has provided antiretroviral treatment to 3.3 million people, detected and treated 8.2 million people with tuberculosis, and provided 230 million bed nets to families to prevent malaria. These efforts and more have helped save 100,000 lives every month.
You can read more about this story in The NonProfit Times.