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Gifts Roundup
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Billionaire Charles Schwab Gives $65 Million to House the Homeless

By  Maria Di Mento
October 26, 2020
Charles and Helen Schwab.
Tipping Point Community
Charles and Helen Schwab’s gift to the Tipping Point Community will go toward a new 145-unit building for people experiencing homelessness in San Francisco as well as toward other housing construction in the future.

A roundup of notable gifts compiled by the Chronicle:

Tipping Point Community

Charles and Helen Schwab gave $65 million to develop a new 145-unit building for people experiencing homelessness in San Francisco and to back the construction and renovation of more such housing in the future. The new building is scheduled to open in next Fall.

The Schwabs’ gift is notable not only for its size but because it makes it possible for the nonprofit and its partner, the San Francisco Housing Accelerator Fund, to complete the project without any upfront public funding.

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A roundup of notable gifts compiled by the Chronicle:

Tipping Point Community

Charles and Helen Schwab gave $65 million to develop a new 145-unit building for people experiencing homelessness in San Francisco and to back the construction and renovation of more such housing in the future. The new building is scheduled to open in next Fall.

The Schwabs’ gift is notable not only for its size but because it makes it possible for the nonprofit and its partner, the San Francisco Housing Accelerator Fund, to complete the project without any upfront public funding.

Charles Schwab is chairman of the the Charles Schwab Corporation, a financial services company he founded in San Francisco in the early 1970s. His net worth stands at $7.5 billion, according to Forbes.

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“Helen and I are inspired by Tipping Point’s Chronic Homelessness Initiative because they are creating innovative new solutions,” said Charles Schwab in a news release about the gift. “We must respond to the homeless crisis with strategies that fundamentally change the equation.”

Harvard Business School and Harvard University Department of Stem Cell and Regenerative Biology

Chris and Carrie Shumway donated $25 million through their Chris and Carrie Shumway Foundation to support life sciences research and programs promoting the development of new life sciences leaders, including a joint degree offered by the business school, the Graduate School of Arts and Sciences, and Harvard Medical School.

Chris Shumway founded Shumway Capital, a Greenwich, Conn., hedge fund. He earned an MBA from Harvard Business School in 1993.

Center for Election Innovation and Research

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Mark Zuckerberg and Priscilla Chan pledged $19.5 million to promote safe and reliable voting in the upcoming election and help the nonprofit provide support to states across the country that need additional money to address voting challenges that have arisen from the pandemic.

The couple plan to give money through their Chan Zuckerberg donor-advised fund at Silicon Valley Community Foundation. They gave the nonprofit $50 million in early September.

This additional $19.5 million will ensure that every qualified jurisdiction that applies for financial assistance will receive the money it needs to administer the election and ensure that every eligible citizen can vote safely and that every vote is counted.

The Facebook co-founder and his wife, a pediatrician, have given nearly $4 billion in recent years to their foundation and their donor-advised fund, through which they support three main areas: education, criminal justice, and science. They have appeared on the Chronicle’s annual Philanthropy 50 list of the biggest donors six times since 2010.

Missouri University of Science and Technology

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Bipin and Linda Doshi donated $10 million to endow the department of chemical and biochemical engineering and endow the position of the department’s chairman and two professorships for midcareer faculty members.

Bipin Doshi is a retired chairman, president, and CEO of Schafer Industries, a group of manufacturing companies, in South Bend, Ind., that he sold in 2017. He earned his bachelor of science and master of science degrees in chemical engineering from the university in 1962 and 1963, respectively.

University of Arizona Cancer Center

Ginny Clements donated $8.5 million to endow the Ginny L. Clements Breast Cancer Research Institute and to support a director’s chair, two professorships, and other programs.

Clements co-founded Golden Eagle Distributors, a Tucson distributor of Anheuser-Busch products, with her late husband Bill Clements, who died in 1995. She retired in 2003. Clements is a breast-cancer survivor who was diagnosed with the disease at age 15.

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Louisiana State University College of Engineering

The Brookshire family gave $6 million to expand the Brookshire Scholars program, which was created in 2010 by the late William Alfred “Bill” Brookshire, who died in 2017.

The scholarship is aimed at helping engineering students who are working their way through college and work at least 30 hours a week.

Brookshire co-founded S&B Engineers and Constructors, an international building firm in Houston. An LSU alumnus, he earned a master’s degree there in 1959 and a Ph.D. from the university in 1961.

University of Pennsylvania School of Nursing

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University of Pennsylvania president Amy Gutmann, and her husband, Michael Doyle, gave $2 million to establish the Gutmann Leadership Scholars Program, which will provide support to 10 students annually across undergraduate and graduate degree-levels, and will prioritize diverse and first-generation students.

“Philadelphia, our country, and the world desperately need more nurses and nursing leaders,” said Gutmann in a news release. “Nurses ... are heroes in the effort to contain and defeat the COVID-19 virus.”

Gutmann has served as the university’s president since 2004 and is a political science professor in UPenn’s School of Arts and Sciences. She previously served as provost of Princeton University and founded its ethics center, the University Center for Human Values.

Doyle is a professor at Columbia University’s School of International and Public Affairs. He served as assistant secretary-general and special adviser to United Nations Secretary-General, Kofi Annan, from 2001 to 2003.

To learn about other big donations, see our database of gifts of $1 million or more, which is updated throughout the week.

We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
Philanthropists
Maria Di Mento
Maria directs the annual Philanthropy 50, a comprehensive report on America’s most generous donors. She writes about wealthy philanthropists, arts organizations, key trends and insights related to high-net-worth donors, and other topics.
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