$50 million fund begins strategic investments in racial equity-focused work
New York, January 28, 2021 – To deepen its investment in the historic movement toward racial justice, Echoing Green, a global nonprofit organization that finds, supports, and connects emerging social entrepreneurs, launched the $50 million Racial Equity Philanthropic Fund. While the organization will continue to fundraise to support its racial equity objectives, Echoing Green has raised over $40 million toward the $50 million fund goal to-date. Thanks to catalytic support from donors, Echoing Green is proud to announce that the Fund will begin deploying funds to organizations and leaders at the forefront of the racial justice movement.
The Fund was launched to support the following goals over the next three years:
- Launch and scale 500 social enterprises focused on racial equity in the U.S. and globally. In addition to launching new leaders, Echoing Green will invest follow-on funding in its alumni portfolio to help founders refine and scale their work toward racial equity. The first million will be disbursed by July 2021.
- Build onramps to social innovation for 5,000 future leaders and entrepreneurs focused on racial equity. Echoing Green will partner to provide social innovation programming and workshops to emerging innovators—including organizers, entrepreneurs, artists, students, activists, and others—who approach social change through racial justice frameworks.
- Create opportunities for engagement in the movement for racial equity for 10,000 corporate employees. Echoing Green will provide opportunities, including skills-based volunteer engagements, for corporate partners and employees to engage in the racial equity movement so they can drive impact at their organizations and within their communities while bringing their skills to support frontline social change leaders.
The organization is launching new programming to reach these goals starting this month. As part of the Fund’s multi-year objectives, this spring, Echoing Green will launch a pilot program to mobilize funds to social innovators working across diverse issue areas to advance racial equity across the United States and globally. The organization will disburse $1 million in follow-on funding to alumni Fellow organizations committed to racial equity by June 30 of this year. In addition, the Fund will support new cohorts of Fellows working on racial justice issues, investing over $2 million in seed funding by August 2021.
“Today marks a milestone moment for current and future members of the Echoing Green community,” said Cheryl L. Dorsey, president of Echoing Green. “I’d like to thank our donors for their commitment to making the Racial Equity Philanthropic Fund a reality. The fight for racial justice will continue well beyond the lifecycle of this Fund, but it is because of the contributions of many that we can sustain and deepen our investment in incredible racial justice leaders through our work.”
For more information and to support Echoing Green, visit: https://echoinggreen.org/racial-equity-philanthropic-fund/
About Echoing Green
For more than 30 years, Echoing Green has been on the front lines of solving the world’s biggest problems, raising up the transformational leaders willing to speak truth to power and challenge the status quo. The organization finds emerging leaders with the best ideas for social innovation as early as possible and sets them on a path to lifelong impact. Echoing Green’s community of nearly 1,000 social innovators includes past Fellows like First Lady Michelle Obama and the founders of organizations like Teach For America, Data for Black Lives, and One Acre Fund. Built and refined over three decades, Echoing Green discovers tomorrow’s leaders, today, and then funds, connects, and supports a new generation of social impact leaders.