Skip to main content
yveqfttaz

NoVo Foundation

Profile

Last Updated: 2016-07-07

At A Glance

NoVo Foundation

(formerly The Spirit Foundation)

535 Fifth Ave., 33rd. Fl.

New York City, NY United States 10017-0051

URL: www.novofoundation.org

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Celebrity: Business

Financial Data

(yr. ended 2014-12-31)

Assets: $527,185,379

Total giving: $87,390,400

EIN

470824753

BRIDGE Number

3056408397

Additional Contact Information

E-mail for Kelly Merryman: Kmerryman@novofoundation.org

Background

Established in 1999 in NE; classified as a private operating foundation in 2000; reclassified as an independent foundation in 2001 - Founded by Warren Buffett, founder, Chairman and C.E.O. of Berkshire Hathaway Inc., a conglomerate holding company headquartered in Omaha, Nebraska, that oversees and manages a number of subsidiary companies, including GEICO Insurance. He is often called the "Oracle of Omaha" or the "Sage of Omaha". In 2008 he was ranked by Forbes as the richest person in the world with an estimated net worth of approximately $62 billion. In 2006, Warren Buffett pledged a portion of his Berkshire Hathaway, Inc. stock to the foundation to be paid out over time. In 2012, Warren Buffett decided to significantly increase the amount of stock he gives to the foundation, ultimately amounting to about $2.1 billion. Warren Buffett has committed to The Giving Pledge, and has pledged to give away at least half of his wealth to philanthropy. The grantmaker is a signatory to Philanthropy’s Promise, an initiative of the National Committee for Responsive Philanthropy (NCRP). By signing on, the grantmaker has committed to allocating the majority of its grantmaking dollars to marginalized communities and at least 25 percent to social justice strategies, such as advocacy, community organizing, and civic engagement

Purpose and Activities

NoVo Foundation seeks to foster a paradigm shift from domination to partnership. Funds are primarily directed toward the empowerment of women and girls, social emotional learning for all, and support for men and boys as their roles transform toward a more balanced society. Strategies include: Education and economic empowerment for young women and girls in the developing world. Ending violence against women and girls. Leadership development for women and men who share our commitment to shifting the paradigm from domination to partnership. Research and advocacy. Advancement of social emotional learning (SEL).

Program Area(s)

The grantmaker has identified the following area(s) of interest:

Move to End Violence

The program is a groundbreaking, 10-year, $80 million initiative designed to strengthen the movement to end violence against girls and women in the United States. The program is designed as a series of five cohorts, each on a two-year cycle. Over the life of the initiative, the program will engage over 100 individuals and as many organizations, establishing a powerful infrastructure of sophisticated leaders and organizations to lead the effort to end violence against girls and women in the United States. The program will be creating online communities through its Facebook page and its Twitter account.

Fields of Interest

Subjects
  • Child development
  • Community and economic development
  • Human rights
  • Human services
  • Women's rights
  • Women's services
  • Youth development
Population Groups
  • Female children and youth
  • Females
  • Transgender people

Financial Data

Year ended 2014-12-31

Assets: $527,185,379 (market value)

Gifts received: $149,743,329

Expenditures: $99,261,506

Total giving: $87,390,400

Qualifying distributions: $94,323,984

Giving activities include:

$87,390,400 for 244 grants (high: $10,000,000; low: $1,000)

$1,857,585 for foundation-administered programs