Subject: OT: Peter Buffett's Philanthropy in Kingston,
I live in the Hudson Valley, quite close to Kingston, NY. Peter is often seen around town and is obviously sought out by people who wish to receive some of his sweet donation money. I'm sure much of what he does is positive. However, there are naturally more than a few people who have turned groveling into an artform. He pays better than what the local economy usually supports. For example, Radio Kingston doesn't appear to appeal to many people besides those being interviewed on the station. But the station itself is 'swank', as various independent folks have told me unprompted.

Thought this might be of interest to those following the works of Warren's children. I have copied and pasted the article here, since the Kingston Daily Freeman has a paywall. I hope I am not violating any copyrights. I just wanted to share this info.


KINGSTON, N.Y. — A charitable foundation controlled by Peter and Jennifer Buffett gave out at least $75.2 million to regional organizations, schools, activist groups, farm programs, food pantries, and colleges in 2024, about $30 million more than it did the year before, according to tax documents.

One of the donations given by the NoVo Foundation was nearly $1.5 million to Mid-Hudson Valley Energy Transition. It is a group that pushes alternative energy solutions and has promoted a plan for a government takeover of Central Hudson Gas & Electric Corp. on its website.

In all, the NoVo Foundation has now contributed at least $341 million to charitable groups, activists, and governments between 2017 and 2024, tax records show.

Peter Buffett, who lives in Lomontville, is the youngest son of multi-billionaire investor Warren Buffett. Peter Buffett and his wife, Jennifer, are co-presidents of NoVo.

According to 2024 tax records, the foundation gave out at least $75,262,235 to Mid-Hudson Valley community groups, non-profits, activist organizations, and others, a Freeman review of the tax documents shows.

In 2023, that figure was $45,021,403, records indicated.

In 2013, Buffett purchased the former Gill Farm in Hurley, where the Hudson Valley Farm Hub, now a subsidiary of the NoVo Foundation, is located. The 2024 tax records show that NoVo Hudson Valley Farm Hub funding exceeded $15.9 million for “costs associated with the operations of a farm that provides the local community services, such as professional farmer training, the hosting and supporting or agricultural research, the demonstration of new farm technologies, and educational resources for advances in food and farming.”

The amount donated to Hudson Valley Farm Hub in 2023 exceeded $13.7 million.

NoVo gave to, among others, Radio Kingston, $10,419,168; RUPCO, $5,350,000; Regional Food Bank, $2,540,000; Good Works Institute in Kingston, $1,539,697; YMCA of Kingston and Ulster County, $1,318,000; People’s Place in Kingston, $1.2 million, and Bard College in Annandale-on-Hudson, $1,075,000.

Other recipients of NoVo donations included Community Foundation of the Hudson Valley in Poughkeepsie, $1,125,000; Waldorf School, $750,000; Family of Woodstock, Kingston, $575,000; Hawthorne Valley Association, $505,000; Baradavon 1869 Opera House, $500,000; Omega Institute for Holistic Studies, $500,000; Future Perfect Project in Stone Ridge, $350,000; People’s Place in Kingston, $300,000; and Hudson Valley Current, $250,000.

Additional large donations included Crop Shop Hudson Valley, $1,395,150; Hudsy Community Project, $750,000; Cornell Cooperative Extension, $650,000; Citizens for Local Power, $405,000; SUNY Research Center, $286,840; O+ Festival, $275,000; Kingston Food Co-Op, $272,000; Harambee Kingston, $200,000; and the Worker Justice Center of New York in Kingston, $150,000.

Buffett said the contribution to the Mid-Hudson Energy Transition was in support of its work to provide access to affordable energy, not in relation to a stand on the possibility of a Central Hudson government takeover.

“NoVo does not take political positions,” Buffett said in an email. “We support MHET specifically for the work it does providing access to affordable and alternative energy needs.”

On its webpage, the group says that they are “a local, Kingston-based non-profit whose mission is to empower municipalities, residents, and businesses to own and share renewable energy, create healthier buildings, and join in community wealth-building to strengthen the resilience of the Hudson Valley in the face of climate change.”

Assemblymember Sarahana Shrestha, D-Esopus, who represents the 103rd District, and state Sen. Michelle Hinchey, D-Saugerties, have sponsored the Hudson Valley Power Act to force a public takeover of Central Hudson.

Buffett also said that the 2024 giving is part of a broader effort.

“As usual, this is a snapshot in time from 2024 and the numbers only tell part of the story,” Buffett said. “For instance, some grants are multi-year. So the numbers aren’t always specific to just 2024.”

The next generation of Buffetts — Howard, Susie, and Peter — poised to become one of the most powerful forces in philanthropy when their 94-year-old father, Warren Buffett, the leader of Berkshire Hathaway, eventually dies.

Warren Buffett announced in June 2024 that he would donate his fortune, now valued at $148.2 billion, to a charitable trust managed by his three children when he dies, instead of giving it to the Gates Foundation, as he indicated nearly 20 years ago.

Last week, Peter Buffett said that those funds would not be used by the NoVo Foundation.

“The announcement from my dad regarding how his wealth gets transferred back to society is significant,” Buffett said in an email. “When the time comes, those resources will be jointly directed by myself and my siblings and are unrelated to NoVo. And NoVo in Kingston will continue to support the community as it always has.”

“NoVo will be funded as it always has been,” through the transfer of stock,” Buffett added. “The only difference is it will come from his estate as opposed to from him directly.”

https://www.dailyfreeman.com/2...