Posted on October 22, 2009

print  e-mail

George Soros Commits $5 Million to OSI-Baltimore

The Open Society Institute has announced that OSI founder George Soros has committed $5 million to OSI-Baltimore through a new fund created in response to the economic downturn.

The Special Fund for Poverty Alleviation will award grants to states and organizations across the country working to help vulnerable individuals who have been hard hit by the recession. Grants awarded by OSI-Baltimore with the $5 million pledged by Soros will require a one-to-one match. The OSI-Baltimore board has already approved $2.5 million in grants to ten local nonprofits, including the Family League of Baltimore, which will receive $1 million for its efforts to create year-long jobs for Baltimore youth; the Fund for Educational Excellence, which will receive $400,000 to hire youth outreach workers for the city's schools; and Baltimore Health Care Access, which will receive $368,000 to help homeless individuals obtain the identification documents they need to apply for public medical assistance. The recipients of the other $2.5 million will be announced in early 2010.

The commitment by Soros is separate from the $10 million challenge grant to the Baltimore community he announced in 2006. To date, OSI-Baltimore has raised more than $12.5 million of the $20 million needed to release those funds.

"Mr. Soros wants to provide an immediate lifeline for the most underserved people in our community who are struggling to find jobs and keep their families healthy," said OSI-Baltimore director Diana Morris. "Many jobs have vanished at a time when families need the income most. For some people, the need is drug addiction treatment and very basic medical care. These grants form a safety net for the most vulnerable."

“Philanthropist George Soros Gives $5 Million to OSI-Baltimore to Provide Relief From Recession for Baltimore's Most Vulnerable.” Open Society Institute Press Release 10/21/09.

Primary Subject: Human Services
Secondary Subject(s): Community Improvement/Development, Economic Crisis
Location(s): Baltimore, Maryland

FC014042