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Tipping Point Benefit Raises $8.5 Million to Prevent Poverty

         Tipping Point Benefit Raises $8.5 Million to Prevent Poverty

PR Newswire

SAN FRANCISCO, May 3, 2013

SAN FRANCISCO, May 3, 2013 /PRNewswire/ -- Tipping Point Community, the Bay
Area's leading poverty-fighting organization, today announced that its annual
benefit held last night raised $8.5 million, and 100 percent of the money
raised will go to local nonprofits that provide education, housing, employment
and wellness services to low-income individuals and families, as Tipping
Point's board underwrites all event costs.

With a record long waitlist for public housing in San Francisco, homelessness
up 20% in Silicon Valley and a third of low-income African American and Latino
students in California failing to complete high school, Tipping Point
Community's benefit focused this year's major fundraising effort on providing
more unrestricted dollars to the most effective education, housing, employment
and wellness programs serving low-income communities in the Bay Area.

Million dollar matching pledges from Pete Briger, Chairman at Fortress
Investment Group and Tipping Point's newest board member, and another from an
anonymous donor, jumpstarted the event's cause-related auction, a competition
led by team captains Phaedra Ellis-Lamkins, Ronnie Lott, Alec Perkins and Jed
York. The funds raised in the auction will allow Tipping Point to add four
nonprofits to its portfolio and increase unrestricted grants to organizations
that are scaling their poverty-fighting efforts. Altogether, Tipping
Point-supported programs will reach a total of 80,000 people in need over the
next year.

"Nights like tonight signal that we're living two realities in the Bay Area
right now," said Tipping Point Community Founder + CEO, Daniel Lurie. "Many of
the people in this room are responsible for dreaming up products, companies
and connections we never thought possible, and yet one in five individuals in
our community is too poor to meet his or her basic needs. I believe it is our
duty to dream of a better life for everyone in our community."

The benefit was co-chaired by Cori and Tony Bates, Alicia Engstrom and Hosain
Rahman, Liz and Thomas Laffont, and Christine and Pierre Lamond. Daniel Lurie
and auctioneer Lydia Fenet of Christie's hosted the seventh annual event,
while Tony Bates, President of the Skype Division at Microsoft, event
co-chair, and Tipping Point board member, addressed guests as well. Run DMC
entertained guests after the dinner and auction, and DJ Ruckus spun until
midnight for the spirited crowd.

Of the evening, Mr. Lurie said, "We are incredibly humbled by the
extraordinary generosity we witnessed last night and are inspired by all those
who gave on behalf of the 1.3 million people living in poverty right here in
the Bay Area."

Visit tippingpoint.org to learn more and to get involved.

About Tipping Point Community

Tipping Point screens nonprofits rigorously to find the most effective groups
connecting low-income people to the services and opportunities needed to break
the cycle of poverty and achieve economic self-sufficiency. Tipping Point's
board underwrites all operating and fundraising expenses so that 100% of every
dollar donated goes directly to the fight against poverty. Beyond dollars,
Tipping Point provides its grantees with the communications, technical and
management support they need to grow and increase their impact.More
information about Tipping Point Community is available at tippingpoint.org.

SOURCE Tipping Point Community

Website: http://www.tippingpoint.org
Contact: Jen Pitts at Tipping Point Community, +1-415-348-1240,
jpitts@tippingpoint.org; or Shawn Pattison, shp@abmac.com or Elizabeth
Wilsterman, egw@abmac.com, both of The Abernathy MacGregor Group,
+1-212-371-5999
 
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