Money

Pledges to support racial equality initiatives are skyrocketing, but recipients and amounts remain largely unknown

Image Source: PolicyLink and The Bridgespan Group

Funders have made record numbers of commitments to support racial equality initiatives over the past year, but the majority of donors have data showing where these contributions are heading. I haven’t reported it yet. report Found.

In the months following the killing of George Floyd, nearly $ 12 billion was donated to the purpose of social justice. It has provided the most funding in the last nine years, according to a report by PolicyLink, a research group focused on promoting racial and economic justice. Bridgespan Group, a consulting firm based in New York.

However, complex tax laws combined with the lack of a framework for tracking funding for racial equality programs made it difficult to determine how effective donations were.

As a result, only $ 1.5 billion of last year’s donations could actually be linked to recipients, the report said.

Willasserdon, Bridgespan’s partner and co-author of the report, said: We will work on structural or system change efforts, organizations led by people of color, and general support over multiple years. “

Michael McAfee, CEO and President of PolicyLink, said he conducted the analysis “to increase the capital needs needed to win equity and to attract large investments to equity movement leaders, especially frontline leaders.” I did.

“”Understanding how funds are aggregated and deployed is an important part of that effort., “He added.

A year after many companies promised to promote racial equality and donate to the cause, recently CNBC According to the report, many tech companies have achieved some of these initial goals.

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Source: Equity news




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