Buffett foundation to unveil plan to help girls of colour
NEW YORK — A foundation run by the youngest son of billionaire investor Warren Buffett is announcing its strategy for distributing $90 million to help improve the lives of young women and girls of colour in the United States.
The New York City-based NoVo Foundation, created in 2006 by Jennifer and Peter Buffett, the youngest son of Warren Buffett, says it will let the girls and their advocates on the local level determine what their needs are, rather than be told what the money has to be used for. The foundation on Thursday will officially announce how its $90 million commitment over seven years will be carried out.
The unveiling of the grant-making process comes a year after the foundation first announced the investment. It has spent the months since canvassing the country talking to girls and their advocates.
“One size fits all was never going to work in terms of the kind of support we offer,” said Pamela Shifman, executive director of the foundation. “We wanted to let girls of colour and their advocates really determine their most important needs because they are the experts on their own lives.”