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So who’s funding The Bail Project? For one thing, Steinberg and her team are busily soliciting small donations from the public, all of which go toward bailing people out. Larger contributions cover operating costs as the project expands. Among those bigger commitments are funds from number of family foundations as well as sizable support from investor Michael Novogratz, who serves as chairman of the board.
In a recent profile in The New Yorker, Novogratz characterizes the Bail Project as a “radical move.” He echoes another point that came up frequently in my conversation with Steinberg: the collateral consequences of pretrial detention. “We know the first three to five days in jail are the most damaging,” Novogratz said in the piece. He lists sexual assault, job loss, and suicide as only a few of the potential dangers.
Richard Branson has also donated to The Bail Project, as has the Bronx Freedom Fund’s initial benefactor Jason Flom. But the initiative’s largest source of support is TED, of all places. Specifically, the Bail Project is one of seven initial grantees receiving money and a platform from the Audacious Project, a (((philanthropic))) venture from the organization that brought us TED Talks that debuted earlier this year. There’s quite a bit of money involved. So far, Audacious has raised over $400 million from big names like Gates, Skoll, MacArthur, and Dalio.
https://archive.is/FzMWW#selection-1191.0-1211.175