CONTEXT

We are a tax exempt, philanthropic community foundation started in 1998. This institution was started to address specific problems of the poor and hard-pressed communities in the San Francisco Bay Area, i.e., ethnic minority communities. In the Bay Area, there are over 500 foundations, corporate trusts, and various philanthropic agencies that provide money and management to agencies delivering services to the poor and the arts. The total assets of these foundations are upward of $40 billion. Of those agencies, only two are black, and the combined budget of the two is less than $500,000; and they have no assets.

The Bay Area is one of the richest areas in the nation--there is a thriving black and ethnic middle and upper class, their millionaires have increased extraordinarily, and the black community, as an example, has a GNP of a half trillion dollars. In spite of these numbers, however, there is a 27% persistent underclass among blacks. This is often typical in other hard-pressed communities also. The 500+ Bay Area foundations have been unable to attend to or have overlooked the needs of many of these ethnic communities. In spite of a sizzling economy and the upsurge of new millionaires and new money, no adequate philanthropic provisions have been made for their poor.

The African American community is especially deplete of institutional philanthropic structures in the midst of a vast advances in their GNP. Gibbs feels that an oversight has occurred in these communities' development: For example, the African American community has built up its churches, its economics, education, but they have not developed philanthropic institutions that can address the persistent poor. This picture is also replicated in other ethnic communities. There should be institutions that allow and make provision for those with increased wealth to share with others who have not experienced similar or any prosperity .

MISSION

We focus on 501(c)(3) agencies that deliver services primarily to the poor of the black and minority communities, then other communities similarly situated. We provide the following services. First, financial, managerial and technical assistance to emerging nonprofit service agencies that address the health, education, and social needs of the poor and dispossessed in our communities. Second, the above services to existing nonprofit agencies that would discontinue their services, but for our assistance. Third, fill the gap in ethnic communities of not having philanthropic foundations in their communities.

FUNDING

Because this foundation was not endowed when we started, it will take us a number of years before we start providing funds. We have projected that we will start funding agencies in the year 2001-2002.

THE NAME GIBBS
Mifflin W. Gibbs was a black man who came to California during the Gold Rush (1850) and made his gold through hard work and study. He published a black newspaper, started small businesses, was the first elected black judge in the US; he was a presidential appointee to many positions of honor, ending his career as Consul to Madagascar. We honor his name and assume his legacy by using his name for building our foundation......