Ripple partners with Tipping Point to fight poverty in Bay Area

08 Mar, 2019 | Updated: 08 Mar, 2019
by Fifi Arisandi
Ripple partners with Tipping Point to fight poverty in Bay Area

Ripple grants $100 million to a non-profit organization that focuses on fighting poverty in San Fransisco Bay Area. 

“To whom much is given, much will be required.” Ripple seems to understand the wisdom very well.

After launching their $100 million Ripple for Good initiative that aims to support mission-driven organizations and initiatives with the potential to expand financial inclusion worldwide last year, the company announced a new partnership with a non-profit organization, Tipping Point that focuses on fighting poverty in Ripple’s own “backyard”, the San Fransisco Bay Area.

“Over the past several years, San Francisco and the surrounding Bay Area have developed a reputation for increasingly widening wealth inequality,” the announcement wrote.

According to the data quoted by the Ripple team, “One in three people in the Bay Area are too poor to meet their basic needs, it takes five minimum wage jobs in our region to make ends meet today, and over the past eight years, the Bay Area has added 750,000 jobs, but only 167,000 housing units.”

As a San Fransisco-based company, Ripple wanted to be able to participate in any efforts to “ease the problems”, so they reached out to Tipping Point.

Tipping point is an organization that's committed to fighting poverty in the Bay Area. They have raised more than $150 million to educate, employ, house and support those in need in the Bay Area and because of them, at least 21,000 people are on their way out of poverty. 

The partnership will come in the form of a $1 million grant from Ripple to support Tipping Point's mission, and as the first step, Ripple will match the donations made by Ripple employees to Tipping Point on a two dollar-for-one dollar basis.

But that’s not all. Ripple will work collaboratively with Tipping Point to explore ways to make the Bay Area “more financially equitable and inclusive”.

“Problems involving wealth inequality and affordability are complicated and persistent, particularly in the Bay Area. But Ripple is determined to be part of the solution, not part of the problem,” the team closed the announcement.

Kudos Ripple for the initiative!

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