By Sarahi Castillo
Visa Inc., a CSG Associate and a global payment technology company, and Visa Foundation work with charitable organizations to support underserved communities. In May, Visa Inc. and Visa Foundation directed resources to Tipping Point Community, a nonprofit organization in San Francisco Bay Area.
Visa Foundation announced a $12 million grant for Tipping Point Community to address and prevent youth homelessness in six San Francisco Bay Area counties. The grant will support a broader three-year $16 million total combined initiative, which includes $4 million in funding from Tipping Point to local services that support at-risk youth or youth currently experiencing homelessness, while strengthening the service providers and systems designed to meet their unique needs.
The new program announcement builds on a $7.5 million commitment from Visa Foundation supporting Bay Area organizations working to address chronic and youth homelessness since 2019, including an initial $3 million Visa Foundation grant to Tipping Point.
It is estimated that over 3,500 youth are experiencing homelessness in San Francisco’s Bay Area on any given night, making it one of the highest rates of youth homelessness in the nation. In addition, LGBTQIA individuals and minorities experience greater rates of homelessness than their peers. Recent estimates also show that more than 35,000 homeless people live in all nine Bay Area counties — a 24% increase from 2017 — and 1.7 million people in the Bay Area are unable to meet their basic needs. In some communities, only three in 10 students graduate from college and three-in-four homeless youth come from foster care or the juvenile justice system.
“Homelessness in the Bay Area is the defining issue of our time for our community. It is happening on our watch, and we all need to do our part to solve it, we are committed to working to reduce the tragic number of families and youth experiencing homelessness,” said Oliver Jenkyn, president of North America Visa and member of the Tipping Point board of directors. “As broad and complicated as the issue is, we are committed to working to reduce the tragic number of families and youth experiencing homelessness. Visa and Visa Foundation are ready to roll up our sleeves with Tipping Point to have an impact.” “Visa Foundation and Tipping Point recognize that no single institution acting alone can prevent or address youth homelessness in the Bay Area,” said Graham Macmillan, president of Visa Foundation. “It is through an aligned and coordinated effort across service providers and systems that we can effectively direct resources to address youth homelessness where they have the greatest impact.”
