Visa Foundation Commits $12 Million to a New Tipping Point Community Program Addressing Youth Homelessness in the San Francisco Bay Area
May 13 2022 - 9:00AM
Business Wire
Directing resources that uplift and improve the
lives of future generations
Yesterday, Visa Foundation announced a $12 million grant to
Tipping Point Community, a nonprofit organization committed to
fighting poverty in the San Francisco Bay Area. Visa Foundation
will partner with Tipping Point and its community network to direct
these funds to impactful local service providers in Bay Area
neighborhoods with the goal of driving lasting change in the lives
of youth. Visa Foundation is proud to align with the critical work
of Tipping Point Community and to take the next step in a
partnership that has been forged over several years.
The Visa Foundation grant will support a broader three-year $16
million total combined initiative to curb youth homelessness in six
San Francisco Bay Area counties.
It is currently estimated that over 3,500 youth are experiencing
homelessness in the San Francisco Bay Area on any given night, one
of the highest rates of youth homelessness in the nation1.
Additionally, systems-involved, LGBTQIA, and black and brown youth
experience far greater rates of homelessness than their peers, one
in five former foster youth experience homelessness within four
years of exiting the foster care system2. The new program, which
includes $4 million in funding from Tipping Point, will be designed
to narrow the gap in resources and programs supporting youth
at-risk of or currently experiencing homelessness, while
strengthening the service providers and systems designed to meet
their unique needs.
“Homelessness in the Bay Area is the defining issue of our time
for our community. It is happening on our watch, and we all need to
do our part to solve it,” said Oliver Jenkyn, group president and
president of North America, Visa and member of the Tipping Point
board of directors. “As broad and complicated as the issue is, we
are committed to working to reduce the tragic number of families
and youth experiencing homelessness. Visa and Visa Foundation are
ready to roll up our sleeves with Tipping Point to have an
impact.”
“It is no secret that the Bay Area is witnessing a homelessness
crisis which includes a heartbreaking number of families and
youth,” said Sam Cobbs, CEO of Tipping Point. “Thousands of young
people in our community are preoccupied about where they're going
to sleep, rather than building a foundation for their future.
Thanks to the generous support of Visa Foundation, we have an
extraordinary opportunity to have an impact on young people
throughout our region who are struggling to meet their most basic
needs."
The new program announcement builds on $7.5 million commitment
from Visa Foundation supporting Bay Area organizations working to
address chronic and youth homelessness since 2019, including an
initial $3 million Visa Foundation grant to Tipping Point.
“Visa Foundation and Tipping Point recognize that no single
institution acting alone can prevent or address youth homelessness
in the Bay Area,” said Graham Macmillan, president of Visa
Foundation. “It is through an aligned and coordinated effort across
service providers and systems that we can effectively direct
resources to address youth homelessness where they have the
greatest impact.”
To learn more about Visa Foundation, visit:
visafoundation.org.
About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments,
facilitating transactions between consumers, merchants, financial
institutions and government entities across more than 200 countries
and territories. Our mission is to connect the world through the
most innovative, convenient, reliable and secure payments network,
enabling individuals, businesses and economies to thrive. We
believe that economies that include everyone everywhere, uplift
everyone everywhere and see access as foundational to the future of
money movement. Learn more at Visa.com.
About Visa Foundation
Visa Foundation seeks to support inclusive economies where
individuals, businesses and communities can thrive. Through
grantmaking and investing, the Foundation prioritizes the
resilience and growth of micro and small businesses that benefit
women. The Foundation also supports broader community needs and
disaster response in times of crisis. Visa Foundation is registered
in the U.S. as a 501(c)3 entity. For more information visit:
visafoundation.org
1 2019 Bay Area Point in Time Counts (San Francisco, Alameda,
Contra Costa, Santa Clara, San Mateo, Marin Counties) 2 Fernandes,
AL. (2007). Runaway and Homeless Youth: Demographics, Programs, and
Emerging Issues
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Visa Media Brittany Jackson brittany.jackson@visa.com
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