The legacy of Black philanthropy in America reminds us that generosity is an expression of collective care and humanity.
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John,
For the Black community, philanthropy has a unique history rooted in solidarity, self-determination and mutual aid. Throughout our history, Black leaders like Dr. Martin Luther King Jr. ([link removed]) , voting rights and anti-hunger activist Fannie Lou Hamer ([link removed]) , and businesswoman Madame C.J. Walker ([link removed]) all made philanthropy a staple of their legacy, while continuing to focus on fighting for justice and equity to make life better for their community. As Dr. King stated, “it must not cause the philanthropist to overlook the circumstances of economic injustice which make philanthropy necessary.”
While historically overlooked in traditional pipelines of philanthropy, Black communities use collective action to build schools, sustain neighborhoods, and support community members’ basic needs. According to a report from the W.K. Kellogg Foundation and Rockefeller Philanthropy ([link removed]) , Black households give 25 percent more of their income annually than White households, and nearly two-thirds of Black households donate to organizations and causes. These contributions typically total $11 billion annually, and institutions are taking notice.
This is why Bloomberg Philanthropies’ Greenwood Initiative believes disrupting wealth extraction on the path to accelerating wealth accumulation for Black communities is critical to our work. In the months to come, we'll be sharing how we’ll continue to partner with organizations and efforts across the county to create change.
Here are some of the many exciting examples of Black Americans demonstrating community care through fundraising and grantmaking across the country:
* In Washington D.C., Black Benefactors ([link removed]) support the well-being of Black children in the D.C. metropolitan area by giving grants to deserving nonprofit organizations like Empower DC and Mamatoto Village.
* In Cleveland, the Cleveland Black Futures Fund ([link removed]) was formed during the COVID-19 pandemic to invest hundreds of millions of dollars to improve education, housing, and job opportunities for Black people.
* Another great example of organizations strengthening the philanthropic pipeline in Black communities is Baltimore’s Black Philanthropy Circle Fund ([link removed]) . Savonne L. Ferguson and Alicia L. Wilson created the fund to support non-profit organizations providing goods or services that directly support Black people and their communities.
These funds build on the legacy of Black philanthropy in America and remind us that generosity is an expression of collective care and humanity.
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Similarly, Bloomberg Philanthropies’ Greenwood Initiative is committed to empowering Black entities through targeted investments. Over the past two years, we have formed partnerships and made investments designed to have a far-reaching impact on racial wealth equity.
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We’re very excited about these investments—and we’re just getting started. We hope that you will continue to join us on this mission to accelerate the pace of wealth accumulation for Black people.
Until next time,
Garnesha Ezediaro
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