Airbnb donates $10 million to 120 nonprofits on 6 continents through its unusual community fund
NEW YORK — Airbnb on Tuesday donated a total of $10 million to more than 120 nonprofits in 44 countries on six continents, the short-term rental giant’s latest expenditure in its unusual $100 million distribution through its Airbnb Community Fund.
Beneficiaries include Digify Africa, which helps youth participate in Africa’s digital economy, Japan’s Service Dog Resource Center and the Atlanta Habitat for Humanity. All groups that received money were selected, not by Airbnb or its employees, but by the hosts who rent their properties on the platform.
While many companies are increasingly shifting philanthropy decisions from corporate suite executives to employees by matching their donations, few have gone as far as Airbnb — which has sometimes been criticized for its effect on housing markets and tourism destinations — by transferring control of the financial sector. money to outside groups.
“Airbnb has a 21st century business vision,” said Janaye Ingram, Airbnb’s director of community partner programs and engagement. “We want to do things that benefit all our stakeholders: our employees, our hosts, our guests, the communities we serve and our shareholders. Working with our host community is a very important way for us to share our success with them.”
San Francisco-based Airbnb reported a profit of $4.37 billion in the third quarter of 2023, including a large one-time tax benefit, the most recent quarter for which data is available. By supporting nonprofits that hosts find valuable, Airbnb can increase funding for groups that help keep their communities strong, Ingram said.
It also strengthens the bond between the company and its hosts, who often make their properties available for rental on Airbnb and its competitors at the same time. And it could help address Airbnb’s sometimes contentious relationship with municipalities where it does business.
During an appearance at the Stanford University Graduate School of Business last year, Airbnb CEO Brian Chesky said he has tried to meet with government officials, even if the meetings have been a bit hostile. He added: “I said to our team, ‘I want to meet people who don’t like me’ and it turns out they kept me busy for a long time… But I had a rule that I always listened first and tried to get them to understand.’
Chesky said about 90% of the Top 200 markets where Airbnb does business now have rules for short-term rentals. That includes New York City, where new legislation went into effect in September requiring landlords to share living space with guests who rent a space for less. than 30 days.
Nadia Giordani, who has rented out the small house in her Atlanta backyard through Airbnb for eight years, said it’s a “great opportunity” to have a say in where the company donates in her community. She was one of 23 members of the Airbnb Host Advisory Board, formed in 2020 to shape policies and programs. The board asked hundreds of Airbnb Host Club leaders around the world for recommendations for nonprofits.
Like many companies, Airbnb has expanded its community outreach in the wake of the racial reckoning that followed the 2020 killing of George Floyd in Minneapolis. It asked hosts about their experiences on the platform, as well as with their companies, Giordani said.
“It’s hard to shut me up,” she said, laughing. “So I started getting involved and it got me out there a little bit.”
Giordani, who has been active in numerous local charities, including Clark’s Christmas Kids, which provides Christmas presents to foster children in Atlanta, and the nonprofit Hosea Feed the Hungry & Homeless, said she was thrilled to hear from fellow hosts about the nonprofits helping in their communities. She is now looking forward to seeing what impact the donations will have.
“It is important for us to be stewards of our community,” she said. “We are not just individuals living alone on a planet. The impact we have is great.”
Donors’ impact can be greater if companies coordinate the interests of different stakeholders as Airbnb does, according to the nonprofit Chief Executives for Corporate Purpose. The group, which advises companies on sustainability and corporate responsibility issues, says in its report ‘Corporate Foundations: Designing for Impact’ that companies are more likely to support nonprofits in the ways they want – through capacity building, research and capital subsidies – if they have a basis.
Airbnb has its own foundation, Airbnb.org, which focuses on providing shelter to people displaced by disasters or war. However, the Airbnb Community Fund is managed separately.
“The Community Fund builds on all the important work we’ve done,” said Airbnb’s Ingram. “But it’s really about communities being able to meet their needs.”
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Associated Press coverage of philanthropy and nonprofits is supported by the AP’s partnership with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.