The Center for Economic Democracy was founded as the Economic Justice Funding Circle (EJFC) in 2012 to provide a space for Boston’s grassroots leaders and funders to develop shared vision, strategy and practice for transformational movement building in Massachusetts and beyond. With support from its founding donors, EJFC’s steering committee of grassroots organizers stewarded $500,000 in grants to advance racial and economic justice organizing in the community.

As of mid-2019, CED supported the successful launch of the Ujima Fund, which raised $500,000 from 100 investors in its first 100 days and aims to raise $5 million through 2020. The Solidarity Economy Initiative has expanded its membership of grassroots organizations and funders and helped train and inspire hundreds of local activists to build the next economy today. The Solidarity Economy Fund has made $612,000 in total grants to grassroots organizations to date.​

In addition to supporting its two core programs, in 2019 CED helped launch the Massachusetts Employee Ownership Table,co-convened a study group on democratizing Boston's City Charter, helped establish the Boston PILOT Action Group, co-convened the Boston Divest-Reinvest Network and continues to advise foundations and wealth holders to adopt "Solidarity Philanthropy" practices while providing trainings and workshops for progressive networks across the United States.