Launch of the Black Philanthropy Circle in Baltimore

The Baltimore Community Foundation (BCF) on Monday announced the launch of the Black Philanthropy Circle, a donor-driven 501(c)3 nonprofit fund focused on charitable donations to nonprofit organizations that directly support people. and black communities in the Baltimore metropolitan area.

The Circle has begun its first grantmaking cycle and is accepting applications through February 28.

Founded by a group of more than 30 black business and civic leaders, the Black Philanthropy Circle was created to cultivate an inclusive philanthropic community, build the capacity of Baltimore’s black nonprofits, and impact the black community. of Greater Baltimore as a whole.

The Circle draws on a deep tradition of charitable giving in the Black community. According to a report by the WK Kellogg Foundation, African Americans donate 25% more of their income annually than white Americans.

Most founding members contributed $10,000 or more to start the fund, which sets the group apart from other donor circles where the typical starting contribution is around $2,500.

For its first grantmaking cycle, the Circle plans to award $25,000 grants to nonprofit organizations that are black-led or based in black communities in the greater Baltimore area. Grant decisions will be made by Spring 2022.

The Circle will give priority to organizations with the following areas of interest: arts and culture, economic welfare, education, recreation and youth, community (non-political) organization and service, environmental services and health and welfare

“Supporting organizations in such areas of interest will have a significant impact on improving black communities in the Baltimore metro area,” said Savonne Ferguson, Esq., Founder of the Black Philanthropy Circle and Senior Vice President, Responsible compliance (mutual funds) and associate general counsel at Neuberger Berman. “This support is critical to strengthening and moving Baltimore forward.”

Over $550,000 has already been raised to support the Black Philanthropy Circle’s mission. The Circle plans to use its launch year to continue to grow the fund and its membership base.

Source link

Comments are closed.