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.