Who will get Powell Jobs’ $3.5B gift for climate work?
By HALELUYA HADERO
AP Business Writer
Philanthropist Laurene Powell Jobs is gearing up to invest $3.5 billion into climate initiatives through her foundation in the next 10 years. But if the prior donation patterns of Waverley Street Foundation continue, the public might never know where that money is going. Between 2017 and 2019, the foundation funneled $185 million into a donor-advised fund, or DAFs, for short. These accounts shield a donor’s contributions from public view. A spokesperson with Jobs’ company, Emerson Collective, declined to say if the foundation will continue to put its money in a DAF. Critics argue such donations show why DAF reforms are necessary.
