Steve Bing Pledges $30 Million Toward Motion Picture & Television Fund
The producer and businessman is putting the legacy gift toward MPTF's goal of raising $350 million.
Producer Steve Bing is opening up his wallet with a $30 million legacy commitment toward the Motion Picture & Television Fund’s campaign goal of $350 million.
MPTF Foundation chairman Jeffrey Katzenberg, who is spearheading the campaign, called Bing one of the most philanthropic and generous people in show business. Bing is among the nation's leading donors to environmental causes and is a heavyweight contributor to the Democratic Party.
“He has also been one of the most loyal supporters of the MPTF through both the good and challenging times,” said Katzenberg, who is also an MPTF board member. “Now with this amazing contribution, he puts us another step closer to securing our long-term goals.”
The MPTF has provided financial assistance and services essential to the well being of the entertainment community for 90 years and is a leader in the development and implementation of services and programs for seniors and those who care for them. In the wake of Bing’s donation, MPTF president and CEO Bob Beitcher stressed the need for both the annual support of MPTF’s programs for the entertainment community and the long-term stability that the MPTF campaign will bring to the charity.
“Ninety-one years ago, the first person helped by this organization was an actor who couldn’t afford a toupee needed for an audition,” he said. “Today the needs are far greater as we maintain the residential campus and long-term care facility and support the charitable programs and services provided each year to thousands of entertainment industry members -- active and retired -- who depend on MPTF for health and social services as well as child care and retirement care.”
Said Ken Scherer, CEO of the MPTF Foundation, “[Bing’s] commitment will help provide the safety net in the years ahead for the 75,000 industry members who will be retiring over the next 10.”