Micheal and Susan Dell along with Texas Governor Greg Abbott announced the Rebuild Texas Fund this morning. In conjunction with the One Star Foundation, this new initiative sets an initial goal of $100 million to rebuild Texas. The announcement was made on Good Morning American this morning.
To support the Texas communities devastated by Hurricane Harvey, the Michael & Susan Dell Foundation is leading the charge to raise $100 million for the Rebuild Texas Fund.
Michael and Susan Dell have committed $36 million to the fund. They are giving half that amount to launch the fund, and started a matching campaign that will continue through midnight Monday, September 4. During the campaign, the Michael & Susan Dell Foundation will match $1 for every $2 in donations for the first $36 million raised.
The Rebuild Texas Fund is about people helping people in our time of greatest need, and also about addressing the long-term effort ahead of us. Rebuilding our communities across Texas in the wake of Hurricane Harvey will take all of us working together for years to come. We invite all of you to join us with your resources and your expertise. We’re in this together.
What will the money be used for?
Given the massive rebuilding work ahead, we expect that the money will be deployed to support the longer term work of recovery AND rebuilding, in addition to immediate relief efforts. Together we are committed to stabilizing families and the fund will support community partners in four initial focus areas – health and housing; schools and child care; workforce and transportation; and capital for rebuilding small businesses.
What portion of the fund will go toward immediate relief versus long-term recovery and rebuilding?
The distribution of funds will be informed by the needs on the ground and the amount of money we raise for the fund. The fund is being built to focus on stabilizing the many families that have been devastated by Hurricane Harvey.
Who are the other funders or partners in the fund?
We need as many people as possible to join us. We are working with foundations across Texas like the KLE Foundation and the Lyda Hill Foundation, and big corporations like Verizon, who have already committed to the fund. And of course, every person who donates is a partner in this effort to rebuild Texas. We hope to have many more partners after this weekend!
Who decides where the money goes?
The Rebuild Texas Fund will be housed at the OneStar Foundation, and the Michael & Susan Dell Foundation will be contributing significant time, money, and expertise to the effort. We believe strongly in measuring outcomes, and so the Rebuild Texas Fund will report out regularly on how the money is being used.
How will you measure your impact?
The Michael & Susan Dell Foundation believes strongly in measuring outcomes, and the Rebuild Texas Fund will report out regularly on how the money is being used and the results on the ground.
What do I need to know about the fund?
For givers, they can rest assured that their dollars are going 100 percent to relief, recovery and rebuild efforts in Texas. Administrative costs and people costs are covered by the OneStar Foundation and by the Michael & Susan Dell Foundation.