The Philadelphia organization provided no details for the abrupt move.
received a $20 million no-strings attached grant from MacKenzie Scott“A perfect storm of circumstances led to this decision, which the board unanimously approved,” the Philadelphia nonprofit said in a statement e-mailed to The Inquirer. BDT, which helps people access government benefits under contracts with states and health insurers, said it would provide no further comment.Employees received an email Tuesday afternoon saying their last day would be Aug. 24.
A board document obtained by The Inquirer showed that as of October, BDT was on track to report a $9.8 million loss for 2023. Final 2023 financial results were not available. BDT’s 2022 audited financial statement showed that it had $46 million in revenue, up from $28 million the year before. The grant from Scott caused the big gain., replacing him on an interim basis with Wendy Starner, who had been the organization’s chief financial officer.
Warren Kantor, a former credit card executive, founded BDT in 2005. He wanted to see whether marketing techniques used to sell people credit cards could help find seniors and others who needed help signing up for benefits. Kantor was motivated by the challenge of helping his widowed mother sign up for a prescription drug benefit.
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