FILE - In this May 22, 2012, file photo, Charles Koch speaks in his office at Koch Industries in Wichita, Kan. If a billionaire's approach to philanthropy is a reflection of himself, Koch's latest initiative tackling poverty embodies both the wealthy industrialist's business acumen and the GOP political icon's distaste for big government. (Bo Rader/The Wichita Eagle via AP, File)

Koch tackles poverty by coaching nonprofits on business

June 05, 2019 - 12:10 am

SEATTLE (AP) — Charles Koch's latest initiative tackling poverty embodies both the wealthy industrialist's business acumen and his distaste for big government.

The 3-year-old Stand Together Foundation has taken center stage in Koch's empire as it recalibrates some of its wide-ranging operation and continues to downplay its more well-known conservative political agenda.

A key part of this foray is infusing the work of private nonprofits with corporate principles and business management training. Koch also gives the charities grant money and extends his influence to help them expand.

His Stand Together Foundation supports 140 private groups that help the needy with a path toward self-sufficiency.

It's part of Koch's campaign to shed some of the political associations tied to the former "Koch Brothers" entity. Younger brother David Koch retired in 2018 due to health issues.

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Sally Ho covers philanthropy and education. Follow her on Twitter: https://twitter.com/_SallyHo

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