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Mathers, who later founded the Agaisnt Malaria Foundation, created the Swim for Terri, in order to raise money for a 2-year-old girl who was badly burned in a house fire. Held in December 2003, the Swim for Terri started as a three-person fundraiser and grew to include 10,000 swimmers in 73 countries. This later lead to the Swim Against Malaria, which in turn lead to the Against Malria Foundation.
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The Against Malaria Foundation was founded in August of 2004, originally intended to handle the money raised by the Swim Against Malaria in late 2004. It was, however, actually named the Swim Against Malaria Foundation originally.
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The World Swim Against Malaria raised $1.3 million for the distribution of insecticide treated nets to combat malaria. The event has been run yearly since.
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In 2005, the Against Malaria Foundation gained Tax Exemption in the US.
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The Against Malaria Foundation received its current name in July of 2005, being renamed from the Swim Against Malaria Foundation.
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The Against Malaria Foundation has been recommended by GiveWell, a foundation that rates charities, in 2012, 2013 and 2014.
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In 2012, the Against Malaria Foundation did not undertake all planned distributions due to safety concerns in Mali and concerns about transparency with potential partners in Malawi and Togo.