- The Barstool Fund will remain active as a full-time charity after initial plan to wind down its fundraising efforts
- Established in December 2020, the fund has raised $41.5 million to assist small businesses impacted by COVID-19 shutdown orders
- Dave Portnoy, founder of the site, said he made the decision after receiving requests to keep the fund active as well as messages of gratitude
Summary by Dirk Langeveld
The Barstool Fund, which helped raise millions of dollars for small businesses during the COVID-19 pandemic, will continue as a full-time charitable organization.
Dave Portnoy, founder of the Barstool Fund, recently announced the decision on Instagram and said he will hire a full-time director to oversee the fund. While Portnoy originally intended to wind down his fundraising efforts, he said he decided to keep the fund active after receiving requests to keep it going as well as messages of gratitude from business owners that had received assistance.
Portnoy, who previously founded the blog Barstool Sports, established the site in December 2020 to assist small businesses impacted by shutdown orders. He contributed $500,000 of his own money, and the effort has since raised $41.5 million through more than 231,000 donors; funding has been disbursed to 443 businesses.
Businesses must have an active payroll to be eligible, and can apply online.