Foundations are opening their wallets to nonprofits dedicated to helping people of color

That avoidance has produced jarring financial consequences. An August study from the National Committee for Responsible Philanthropy found that across 25 foundations, an average of just 1% of grants were specifically designated for Black communities. Meanwhile, unrestricted assets, seen as the holy grail of donations because nonprofits rather than donors can determine how to spend them, are 76% smaller at Black-led organizations compared to white-led ones, according to a report from the Bridgespan Group, a management consulting firm for nonprofits. Despite such documentation, little has moved the needle.

Read the entire article in Crain’s New York Business.