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Abundance Capital lets donors recommend funding

Abundance Capital, a Greenville, SC-based online platform where donors can recommend funding opportunities, officially launched last month after securing 501(c)(3) tax exemption designation in December.

Founded by philanthropy and impact investment industry veterans Mike Gatchell and Margaret Gifford, the platform plans to work to connect available capital with ideas and talent throughout the Southeast, according to this news release. Abundance Capital clients may make donations, advise investments, and recommend grants that meet criteria from the United Nations’ Sustainable Development Goals.

“After two decades of helping individuals support the institutions and causes they care most about, I heard again and again from donors, whether giving $100 or $100 million, that they want to do more with their philanthropy. They want to solve deep problems, generate more impact, and create lasting prosperity for their communities,” said Gatchell, Chief Executive Officer and Co-Founder. “Abundance Capital provides a new and fun way for people to make their giving regenerative, using tax-deductible contributions for impact investing as well as granting.”

The firm’s goal is simple: to activate philanthropic capital on a local level and create abundance by stretching the impact of philanthropy, using debt, equity, or granting. Through Abundance Capital, donors become venture philanthropists, providing critical capital for underserved entrepreneurs and projects that create equitable and sustainable community development.

 

 

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