Leaders of collaborative funds focused on supporting Black communities worldwide want to increase their number and take the lead on driving efforts to create more equitable systems amid concerns that philanthropic support for diversity, equity, and inclusion efforts is waning.
Three years after the murder of George Floyd by a police officer spurred a wave of pledges for DEI from corporations and foundations, there is a growing conservative backlash in the United States and elsewhere against the promotion of so-called “woke” social causes, which includes racial equality. Increasing uncertainty about the economy has also prompted some companies, particularly in the tech sector, to begin laying off recently hired DEI staff.
Black-led collaborative funds, however, are committed to keeping equity “squarely on the agenda” within the philanthropy sector, and may be best positioned to push for greater accountability, said Rebecca Darwent, co-founder of Foundation for Black Communities, a Canadian collaborative fund. Earlier this year, the fund secured a $200 million commitment from the Canadian government to support Black-led and Black-serving nonprofits in the country.