On February 22, Warren Buffett highlighted the Stephen Center’s homeless shelter in his hometown of Omaha, Nebraska, in his annual letter to shareholders of Berkshire Hathaway. On the next Monday, nonprofits were flooded with calls, a sharp increase in website visitors and a surge in social media access.
“Faced with reality: this kind of opportunity, especially the opportunity that happens from such people,” Chris Knauf, CEO of the Stephen Center, told Observer.
Buffett picked out the organization, from Berkshire Hathaway (BRK.A) for 60 years, A book to celebrate the 60th anniversary of his company. About 5,000 books, Including previously unseen photos, quotes and stories from late Berkshire vice-chairman Charlie Munger, will be purchased at the annual shareholder meeting on May 2 and May 3 at Berkshire.
However, in these copies, the book’s curator and former Berkshire employee signed 18 copies, which will provide shareholders with only $5,000 or more. Every donation made to the nonprofit will match the dollar of Buffett’s.
Buffett's longtime friend Bill Kizer and his wife Bunnie were early supporters of the Steven Center, serving homeless and low-income individuals in Omaha. According to Knov, in his forty years of operation, senior attacker shelters have never experienced such support.
Stephen Center services include programs such as emergency shelter, addiction recovery center and affordable housing units. Knauf said shelters are not just about providing basic necessities, but focus on “providing individuals with the necessary resources to gain positive housing destinations and better lives.”
Buffett's initiative has granted nonprofits a lot of cash. Earlier this month, Stephen Center provided copies of the first eight books Berkshire Hathaway of 60 years Through the online auction held on its website. Each copy costs more than $5,000 and ends up bidding between $20,000 and $100,000. Buffett matched the total amount raised, with the auction netting for shelter over $620,000.
The remaining ten books will be auctioned at the upcoming shareholders' meeting. The champions will be sold in person at the Stephen Center booth at the Stephen Center in Omaha Arena, where the annual gathering of Buffett Consortium is held.
Knauf said Buffett’s gift to Stephen Center will transform the nonprofit and the more than 1,000 individuals it serves each year. Omaha is one of the fastest growing metropolitan areas for the homeless population. The CEO said the population grew 10% last year, noting that the proceeds from the Buffett initiative will help nonprofits as it builds a new shelter focused on expanding services for women and children.
“There is no more popular character in the whole of Omaha than Mr. Buffett,” he often picked out from local nonprofits to get his donations and has previously told Omaha Girls Inc. Nove. “Of course, Mr. Buffett loves Omaha.”
