Photo: Black Freedom Fund
The California Black Freedom Fund is aiming to grow into a $200 million endowment to support Black-led nonprofits across the country amid political pushback against race-based philanthropy, per the Associated Press.
The fund, which was launched in 2020 following George Floyd's murder and was formerly part of the Silicon Valley Community Foundation, has raised over $97 million and granted $45 million to 206 organizations. Now independent, the organization seeks to generate $10 million annually in grants from investment returns alone.
“When a crisis occurs in the Black community, philanthropy parachutes in… and then as soon as the news cameras turn away, the support recedes,” Executive Director Marc Philpar said in a statement. “We need enduring institutions that are led by and committed to the Black community in ways that have a lasting impact.”
The initiative comes as the Trump administration is directing federal agencies to investigate race-conscious grantmaking, claiming that such efforts are discriminatory. Philpart said the attacks have only galvanized support.
“People have rallied to us and really doubled down,” he said.
Over 70 funders, including the California Wellness Foundation, are currently supporting the effort. The goal of the $200 million endowment is to support grassroots organizations often left out of traditional funding.
“We’re drawing people out who want to prove we are greater than divisiveness,” Philpart said. “We are better than all the things that pull us apart.”
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