How has Goldman Sachs been involved in philanthropic activities?


by joelle , in category: Banking and Credit , 9 months ago

How has Goldman Sachs been involved in philanthropic activities?

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1 answer

by cedrick.casper , 8 months ago


Goldman Sachs has been involved in philanthropic activities through its Goldman Sachs Gives initiative and various other partnerships and programs. Here are some examples:

  1. Goldman Sachs Gives: Goldman Sachs Gives is a donor-advised fund through which Goldman Sachs employees can recommend grants to nonprofit organizations globally. Since its inception in 2007, the program has donated over $2 billion to charitable causes.
  2. 10,000 Women: In partnership with the Goldman Sachs Foundation, the 10,000 Women initiative provides entrepreneurship and business education to women in underprivileged communities. The program has supported women-owned businesses in over 50 countries, helping them access capital, mentorship, and networks.
  3. 10,000 Small Businesses: Similarly, the 10,000 Small Businesses program aims to help small businesses grow and create jobs. It provides access to business education, capital, and support services to entrepreneurs across the United States and the United Kingdom.
  4. Social Impact Fund: Goldman Sachs has also established a Social Impact Fund, which invests in businesses with the potential for both financial and social returns. The fund focuses on sectors like education, healthcare, and sustainable development.
  5. Community Reinvestment Initiatives: Goldman Sachs actively supports community development and affordable housing projects. It invests in underserved neighborhoods, provides financing to affordable housing developers, and helps revitalize small businesses in economically disadvantaged areas.
  6. Disaster Relief: During natural disasters, Goldman Sachs has provided financial assistance and relief efforts. For instance, following Hurricane Harvey in 2017, the company pledged $10 million to support relief and rebuilding efforts in affected communities.

These are just a few examples of how Goldman Sachs has been involved in philanthropic activities. The company also engages in various other initiatives, including employee volunteering and impact investing, to contribute to social and economic development.