experienced some of the biggest population gains in 2021, adding about 221,000 and 93,000 residents through domestic migration. Phoenix and Tampa added newcomers especially rapidly. “As people have basically poured into these Sun Belt metros, that’s put additional demand on the housing market, and supply has struggled to keep up,” said Taylor Marr, an economist at Redfin. “A lot of the inflation variation is pretty correlated with these migration patterns.”

leases are 35 percent more expensive than at the start of the pandemic but have risen only 2 percent in the past six months, for instance.

Adam Kamins, a director at Moody’s Analytics who focuses on regional and local forecasting, said he expected inflation to begin to equalize across the country as price increases in the South fade more swiftly.

“I think there’s going to be some level of convergence in regional inflation,” Mr. Kamins said. “We just haven’t seen it yet.”

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Inflation, Surge In Prices Impacting Food Banks

“Feeding America” is calling on Congress and the U.S.D.A. to restore hundreds of millions of dollars worth of commodity foods.

In spite of higher gas prices, Shirley Dutcher makes a weekly drive to the Community Food Club in Grand Rapids, Michigan. 

“I’m one of those people that don’t get food stamps or anything,” she said. “So, I come here to get whatever vegetables and stuff I can get.”

She likes to keep food on hand for her ten great-grandchildren when they visit. The higher prices are a challenge for her and the Food Club. 

“Back in December, a case of eggs for us was $23,” Community Food Club Executive Director A.J. Fossel said. “It’s gotten as high as $94 for a case, and we go through six cases of eggs a day here at the food club.”

Food banks were starting to feel some relief as people returned to work when pandemic shutdowns lifted. But the surge in food prices came as COVID-19 disaster declarations ended, along with several programs that provided food to people in need. Now food banks are seeing a spike in demand.    

“We’ve seen an increase of about 30% of the members that we serve since December,” Fossel continued. “So we’re up to a thousand households a month.”

“Inflation right now is not only hurting our recipients,” San Diego Food Bank CEO Casey Castillo said. “It’s hurting our donors and their disposable income and what they can give and it’s impacting us.” 

“We have seen lower donations,” Feeding America West Michigan spokesperson Juliana Ludema said. “That means we need to purchase more food. With the higher food costs and inflation everywhere, that’s definitely expensive for us.”

While some food banks report donations remain steady, the cash donations don’t go as far because of inflation. And higher fuel costs are making food collection and distribution more expensive. 

National food bank network “Feeding America” is calling on Congress and the U.S.D.A. to restore hundreds of millions of dollars worth of commodity foods that were lost when temporary food programs ended. 

In the meantime, everyone is doing what they can to make ends meet. 

“I’ve been coming here two years I think now. So, it helps out a lot when you have nothing else,” Dutcher said.

Source: newsy.com

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‘Davos Man,’ Marc Benioff and the Covid Pandemic

He frequently tells the story of his supposed inspiration for founding Salesforce. Despite success at Oracle, where he worked early in his career, Mr. Benioff was plagued by existential doubt, prompting him to take a sabbatical to southern India. There, he visited a woman known as “the hugging saint,” who urged him to share his prosperity.

From the incorporation of Salesforce in 1999, Mr. Benioff pledged that he would devote 1 percent of its equity and product to philanthropic undertakings, while encouraging employees to dedicate 1 percent of their working time to voluntary efforts. Salesforce employees regularly volunteer at schools, food banks and hospitals.

“There are very few examples of companies doing this at scale,” Mr. Benioff told me in an interview. He noted that people were always talking to him about another business known for its focus on doing good, Ben & Jerry’s. He said this with a chuckle, clearly amused that his company — now worth more than $200 billion — could be compared to the aging Vermont hippies who had brought the world Cherry Garcia ice cream.

Mr. Benioff is by many indications a true believer, not just idly parroting Davos Man talking points. In 2015, when Indiana proceeded with legislation that would have allowed businesses to discriminate against gay, lesbian and transgender employees, he threatened to yank investment, forcing a change in the law. He shamed Facebook and Google for abusing the public trust and called for regulations on search and social media giants. Early in the pandemic, Salesforce embraced remote work to protect employees.

“I’m trying to influence others to do the right thing,” he told me. “I feel that responsibility.”

I found myself won over by his boyish enthusiasm, and his willingness to talk at length absent public relations minders — a rarity for Silicon Valley.

His philanthropic efforts have been directed at easing homelessness in San Francisco, while expanding health care for children. He and Salesforce collectively contributed $7 million toward a successful 2018 campaign for a local ballot measure that levied fresh taxes on San Francisco companies to finance expanded programs. The new taxes were likely to cost Salesforce $10 million a year.

That sounded like a lot of money, ostensible evidence of a socially conscious C.E.O. sacrificing the bottom line in the interest of catering to societal needs. But it was less than a trifle alongside the money that Salesforce withheld from the government through legal tax subterfuge.

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The Consulting Firm Billionaires Turn to When They Give Away Money

MacKenzie Scott stepped out of the long shadow of her former husband, the Amazon founder Jeff Bezos, by handing out billions of dollars in grants over the past two years to charities, community colleges, food banks and progressive nonprofits led by people of color.

Advising her was a team of consultants at a firm that is hardly known outside philanthropic circles but highly influential within them, the Bridgespan Group.

Spun out of the consulting firm Bain & Company as a nonprofit, Bridgespan is one of a host of groups that arose in the early 2000s as a new wave of giving led by tech billionaires was beginning to crest. Two decades later, the consultants working behind the scenes are more important than ever.

Ms. Scott pulled back the curtain a bit in June when, among the 286 groups receiving more than $2.7 billion in donations, were a host of organizations that are basically the plumbing and wiring of the nonprofit world. Among them were the Center for Effective Philanthropy, Charity Navigator and Bridgespan itself, which said it would use its gift mainly to pursue research meant to benefit the sector as a whole.

spreadsheet of gifts and a full-blown foundation with offices on Fifth Avenue.

“Bridgespan occupies a unique perch in the landscape of professional-services organizations serving foundations and high-net-worth families,” said Darren Walker, the president of the Ford Foundation. Mr. Walker, who has worked with Bridgespan since he was with the Abyssinian Development Corporation two decades ago, said no firm had been more influential in the past 20 years.

When a group of billionaires and scholars gathered last year to brainstorm reforms for the charitable sector, they met at Bridgespan’s offices in New York. When the Open Society Foundations, by most measures the second-biggest foundation in the United States after Gates, recently began a significant restructuring, it brought in Bridgespan. And, of course, there is Ms. Scott, who shook up the world of philanthropy with donations of more than $8 billion in 11 months.

Credit…Evan Agostini/Invision, via Associated Press

But some philanthropy experts say relying on consultants can skew which groups get the most funding. “Consultants at places like Bridgespan are setting the menu of what philanthropists can and should do,” said Megan Tompkins-Stange, an assistant professor of public policy and scholar of philanthropy at the University of Michigan. “The organizations that are stamped with the managerial brand are more likely to get funding.”

Bridgespan was started in 2000 by three men with ties to the for-profit management consultant Bain & Company, including Bain’s then-worldwide managing partner Thomas Tierney. The founders received $1.3 million from the consulting firm and $5.5 million from a group of foundations to see if a dedicated nonprofit could do a better job than for-profit consultants dabbling in pro bono work.

Bridgespan got its start during an era of “venture philanthropy” and “philanthrocapitalism.” In essence, the billionaires knew best and they were going to bring their vaunted analytic practices to the world of nonprofits. A whole crop of groups came up at around the same time, Rockefeller Philanthropy Advisors, the Center for Effective Philanthropy and the consultants FSG among them. (All received funding from Ms. Scott in her last round of giving.)

Bridgespan itself received a gift from Ms. Scott. Bridgespan’s latest tax filing for the year 2020 showed contributions and grants leaping to $74.7 million from $12.5 million the year before, nearly doubling the group’s total assets as of the end of last year. Bridgespan said the increase reflected a five-year capital campaign with multiple donors and not just Ms. Scott’s grant.

Giving away money used to be approached as a distinct enterprise from making money. The strategies, language and reams of analytics do not always translate to the nonprofit world, where “return on investment” could be harder to quantify.

“We were getting into bidding wars. ‘I can serve 500 kids for a million dollars.’ ‘I can serve 500 kids for $400,000,’” said Geoffrey Canada, president of Harlem Children’s Zone and one of Bridgespan’s first clients. He said he found his initial encounter with the group “predictably demeaning — they come in, lay out charts, don’t give you the chance to answer back.”

What was different from other firms his nonprofit worked with, he said, was Bridgespan took his “brutally honest” feedback to heart. In turn, they persuaded him to abandon the bidding wars and ask for more money, trusting the donors to respect his candor.

Attitudes toward billionaire philanthropy shifted after the Great Recession, with populists on the left and right more suspicious of the ultrawealthy. Yet management consulting for philanthropists and nonprofits continued to thrive. That is partly because the pie keeps growing.

From 2000 to 2018, assets held by private foundations more than doubled, according to the research group Candid, to $950 billion from $421 billion. Total giving tripled over the same period, the most recent for which complete data is available, rising to $72 billion from $23 billion, according to Candid, which also received a grant from Ms. Scott.

Instead of establishing big foundations, many of the richest Americans now want to use limited-liability companies, like Laurene Powell-Jobs, and donor-advised funds, which Ms. Scott has used for some of her gifts.

“Bridgespan seems exceptionally able and well-disposed to take advantage of the shift from big family foundations to L.L.C.s that don’t want staff but are still giving away a huge sum of money,” said Rob Reich, co-director of the Center on Philanthropy and Civil Society at Stanford University.

Groups like Bridgespan can also step into the gap and serve as outsourced staff for new foundations finding their footing.

In March, the recently formed Asian American Foundation had just five full-time employees. After the killing of eight people at Atlanta-area spas, six of Asian descent, the group was inundated with pledges and commitments, including millions more from prominent board members including Joseph Tsai, owner of the Brooklyn Nets, and a further $1 billion committed to their cause by foundations, corporations and individuals in an eight-week period.

Mr. Hussein of Bridgespan served as an informal adviser, joining calls with board members.

The foundation brought on a team from Bridgespan full time over the summer. “My ask of them was understanding what is happening in the field and what are things we should be paying attention to. Where were the gaps?” said Sonal Shah, the foundation’s president. The Bridgespan team provided a thorough analysis of Asian American and Pacific Islander organizations in the United States.

“I think it was over a four-week period, which is not a small thing to do in a month,” Ms. Shah said.

Ms. Shah said she appreciated the fact that the team from Bridgespan was staffed fully with people of Asian descent. Mr. Hussein said that was intentional. He drew from Bridgespan’s internal affinity group, people with “firsthand experience of what it means to be othered, what it means to have the model minority myth,” Mr. Hussein said.

That was not the case in the group’s early days, said Mr. Walker, of the Ford Foundation.

“When I first met Bridgespan, it was primarily white men at the top and that’s not a surprise given their origin,” Mr. Walker said. “I had a Zoom call with the Bridgespan team on a matter last spring and a majority of the people on the little Hollywood Squares on the Zoom were people of color and women.”

Bridgespan’s self-reported diversity figures show two-thirds of the group’s staff are women. White people make up less than half of the overall staff, as well as less than half of those in leadership positions.

Both Mr. Walker and Jeff Bradach, one of Bridgespan’s founders, used the word “journey” to describe the group’s embrace of diversity and inclusion as central tenets of the work. Mr. Bradach, who was managing partner until October, when he stepped down from the top post, stressed in an interview that this was still a work in progress and that Bridgespan had made mistakes in the past.

For instance, one of Bridgespan’s big pushes was for donors to make “big bets” rather than spreading the money around. But that standard tends to favor big institutions. “If in your criteria, you say, ‘We only fund people that do random control trials,’ if you have these barriers to capital on general operating support, then a whole bunch of organizations led by people of color have actually never been given the money to do that,” Mr. Bradach said.

Ms. Scott has made it a priority to give to such previously underfunded groups. But she has no website or headquarters or way to apply for grants, leaving groups scrambling for a way to get on her radar. People in the field noticed, for instance, that Bridgespan has advised the YMCA and Ms. Scott gave grants to YMCA’s across the country last year.

While avoiding directly discussing Ms. Scott’s giving per company policy, Mr. Bradach rejected the notion that nonprofits could work with Bridgespan as a way of getting the attention of the big donors they advise. Mr. Bradach said that just 5 percent of the nonprofits that Bridgespan’s philanthropic clients gave to were also Bridgespan clients.

In that 5 percent of cases, Bridgespan policy is to tell the donor that it also represents the nonprofit. The notion among nonprofits that they could cozy up to Bridgespan and then receive huge sums from Ms. Scott is wrong, Mr. Bradach said, and also betrays a misunderstanding of how much sway Bridgespan has over the donors who seek its help. “It’s not,” he said, “a black box that they’re kind of scratching their head going, ‘I can’t wait to see what comes.’”

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‘A Perfect Positive Storm’: Bonkers Dollars for Big Tech

In the Great Recession more than a decade ago, big tech companies hit a rough patch just like everyone else. Now they have become unquestioned winners of the pandemic economy.

The combined yearly revenue of Amazon, Apple, Alphabet, Microsoft and Facebook is about $1.2 trillion, according to earnings reported this week, more than 25 percent higher than the figure just as the pandemic started to bite in 2020. In less than a week, those five giants make more in sales than McDonald’s does in a year.

The U.S. economy is cranking back from 2020, when it contracted for the first time since the financial crisis. But for the tech giants, the pandemic hit was barely a blip. It’s a fantastic time to be a titan of U.S. technology — as long as you ignore the screaming politicians, the daily headlines about killing free speech or dodging taxes, the gripes from competitors and workers, and the too-many-to-count legal investigations and lawsuits.

America’s technology superpowers aren’t making bonkers dollars in spite of the deadly coronavirus and its ripple effects through the global economy. They have grown even stronger because of the pandemic. It’s both logical and slightly nuts.

have more money in their pockets thanks to government stimulus checks and pandemic savings, and the tech giants are getting a significant share. Their combined revenue is equivalent to roughly 5 percent of the gross domestic product of the United States.

Big Tech’s pandemic big bucks have an understandable root cause: We needed its services.

People gravitated to Facebook’s apps to stay in touch and entertained, and businesses wanted to pay Facebook and Google, which Alphabet owns, to help them find customers who were stuck at home. People preferred to buy diapers and deck chairs from Amazon rather than risk their health shopping in stores. Companies loaded up on software from Microsoft as their businesses and work forces went virtual. Apple’s laptops and iPads become lifelines for office workers and schoolchildren.

Before the pandemic, America’s technology superpowers were already influential in how we communicated, worked, stayed entertained and shopped. Now they are practically unavoidable. Investors have scooped up Big Tech shares in a bet that these companies are nearly invincible.

“They were already on the way up and had been for the best part of a decade, and the pandemic was unique,” said Thomas Philippon, a professor of finance at New York University. “For them it was a perfect positive storm.”

Sales in the first quarter rose 44 percent from a year earlier, and Amazon’s profits before taxes — which have never been exactly robust — more than doubled to $8.9 billion. Businesses are addicted to Amazon’s cloud computer services, where sales rose 32 percent, and shoppers can’t live without Amazon’s delivery. Investors love Amazon, too. The company’s stock market value has nearly doubled since the beginning of 2020 to $1.8 trillion.

For the other tech giants, it’s as if their brief pandemic nosedive never happened. Advertising sales typically rise and fall with the economy. But as other types of ad spending shrank when the U.S. economy contracted last year, ad sales rose for Google and Facebook. The growth was even better for them in the first three months of this year.

A year ago, analysts worried that Apple would be crippled as the pandemic gripped China, which is the hub of the company’s manufacturing operations and its most important consumer market. The fears didn’t last long. In the first three months of 2021, Apple’s revenue from selling iPhones increased at the fastest rate since 2012. Sales in mainland China, Taiwan and Hong Kong nearly doubled from a year earlier.

been on a tear. So have some younger technology companies, such as Snap and Zoom, the maker of the pandemic-favorite videoconferencing app. The crisis forced all sorts of businesses to go digital fast in ways that could help them thrive. Restaurants invested in online sales and delivery, and doctors went full bore into telemedicine.

But the dictionary doesn’t have enough superlatives to describe what’s happening to the five biggest technology companies. It’s all a bit awkward, really. It’s rocket fuel for critics, including some regulators and lawmakers in Europe and the United States, who say the tech giants crowd out newcomers and leave everyone worse off.

peculiarities of the pandemic economy. Some people and sectors are doing awesome, while other families are lining up at food banks and while companies like airlines are begging for cash. Unlike the stock market clobbering in the Great Recession, stock indexes in the United States have reached new highs.

The tech superstars have also capitalized on this moment. Alphabet and Facebook have used the pandemic to cut back in places that matter less, such as promotional costs and travel and entertainment budgets. And the tech giants have generally increased spending in areas that extend their advantages.

Alphabet is now spending more on big-ticket projects, like building computer complexes, than Exxon Mobil spends to dig oil and gas out of the ground. Amazon’s work force has expanded by more than 470,000 people since the end of 2019. That deepens the moat separating the tech superstars from everyone else.

Big Tech is emerging from the pandemic lean, mean and ready for a U.S. economy expected to roar back to life in 2021. Meanwhile, there are still long lines at food banks. Some American workers who lost their jobs last year may never get them back. Housing advocates are worried that millions of people will be evicted from their homes. And being Big Tech is an invitation for everyone to hate you — but you do have towering piles of money.

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