PACE Members announce nearly a quarter-billion dollars in commitments to racial justice
Earlier this summer, as protests against racial injustice were underway in communities across the country, many in the field of philanthropy, including a majority of PACE members, were speaking out and issuing statements. Some had been in the work for years, and others were starting a journey. While all those voices felt important, many were understandably asking, will it stop at statements, or could there be a broader strategic shift towards racial equity on the horizon?
Many are now backing their words with action (and dollars) by making significant allocations to racial justice and by fighting systemic and anti-Black racism. Here’s a snapshot of a few recent commitments from current PACE members, listed alphabetically:
The Lumina Foundation is setting aside $15 million over the next three years to help eradicate systemic racism. While they are still figuring out the details of the funds’ operations, they articulate part of its vision as a commitment “to help realize the American ideal of ‘a more perfect union,’ in which educational achievement and other measures of health and civic participation are no longer determined by an individual’s race or ethnicity.”
The McKnight Foundation and Voqal Fund have both joined the Philanthropic Collective to Combat Anti-Blackness & Realize Racial Justice. Formed in the wake of George Floyd’s killing and the global uprising it inspired, the group has issued a bold statement denouncing racism and will create a new $25 million Minnesota Black-Led Movement Fund.
The Meyer Memorial Trust announced Justice Oregon for Black Lives: A five-year, $25 million commitment, which is the largest initiative in its 38-year history. They articulate that this “dedicated funding will deepen support for Black-centered organizations, uplift a just system of community well-being and invest in long-term lasting strategic change.” Notably, this commitment taps into the Trust’s endowment and is in addition to their annual grantmaking.
The Robert Wood Johnson Foundation made a $4.5 million grant to Borealis Philanthropy’s Black-Led Movement Fund. Born out of the uprising in Ferguson, Missouri, this fund aims to support a new generation of intersectional, Black organizing leadership as they shape the conversation about race and activate bases of power in local communities.
The Rockefeller Brothers Fund committed to seize this “hinge moment in history” by increasing its grantmaking by $48 million over the next five years, which includes $10 million explicitly classified as an initial investment in a new racial justice initiative. The initiative “will draw on the Fund’s previous experience with institutions of justice, governance, and civic culture to identify systemic advances, fundamental changes in policy, and other pathways to dismantle structural racism in America.”
The William and Flora Hewlett Foundation announced new steps to address systemic racism in the near- and longer-term. This year, they are committing $18 million to organizations working on systemic racism, and especially anti-Black racism. They have also announced Board approval of a 10-year, $150 million racial justice initiative, and have articulated a desire to “more fully incorporate racial equity into our ongoing programs and grantmaking strategies.”
The Chronicle of Philanthropy has a round-up of these and other commitments. They estimate that in recent weeks alone, new philanthropic commitments towards racial equity and justice total nearly half a billion dollars. More tracking on philanthropic funding and leadership toward combating systemic racism and committing to diversity, equity, and inclusion is available from Candid.
