Update on the philanthropic response to the Coronavirus Disease (COVID-19)
Editor’s note: Since the publishing of this post, Candid released a pop-up webpage about coronavirus. View philanthropy’s response to the pandemic: candid.org/coronavirus. While we’ll be updating this webpage regularly, there can be lags getting data from different sources, so there may be short-term discrepancies. Check back regularly for updates.
On March 3, we reported on the philanthropic response to the Coronavirus Disease (COVID-19). At that time, donations for COVID-19 dwarfed funding for recent natural disasters: where pledges and donations for eight major hurricanes, earthquakes, and wildfires totaled more than $898 million, philanthropic funding for COVID-19 alone was $980 million. The vast majority of funds—both number of pledges and dollar value—came from China and the United States. Private companies led the way in responding to the crisis.
These figures have only grown since our first post. Here are updates as of March 10, 2020.
- Total giving has increased from $980 million to $1.3 billion.
- The number of pledges from South Korea has grown from 3 pledges to 9, raising the total from that country from $6.2 million to $46.7 million.
- The new funders from South Korea are:
- Amorepacific Corportion
- Hyundai Motor Company
- LG Group
- Samsung Group
- SK Group
- Corporate giving, which accounted for 86% of pledges and 81% of dollar value, now makes up 83% of pledges and 80% of dollar value.
- China and the United States, which accounted for 84% of pledges and 97% of dollar value, now make up 80% of pledges and 90% of dollar value.
- Evergrande Group, a China-based real estate company, was the most generous donor, contributing $115 million to a consortium of Boston-area clinicians and research institutions to develop diagnostic tools, treatments, and vaccines for the coronavirus epidemic. Wellcome Trust, a U.K. foundation, donated $50 million in seed funding to the COVID-19 Therapeutics Accelerator, to speed up the response to the COVID-19 epidemic by identifying, assessing, developing, and scaling-up treatments.
We are in the process of adding these COVID-19 pledges to our free, publicly accessible Measuring the State of Disaster Philanthropy funding map, which was created in partnership with the Center for Disaster Philanthropy.