In The News

Big-Money Philanthropy Must Support Grassroots Coronavirus Relief

By Ana Conner, Teen Vogue

April 29, 2020

In an economically good year, private family foundations give roughly 7% of their assets (in 2015, those assets were more than $400 billion). Since on average a stock investment portfolio will see an annual 7% market return, giving at that exact number ensures that foundations will continue to accumulate wealth. While 7% is already minimal, money designated for women of color is a fraction of that; in a report from the Philanthropic Initiative for Racial Equity, just 0.6% of 2016’s grant dollars went to women of color from the largest 1,000 foundations in the U.S. According to Funders for LGBTQ Issues, for every $100 awarded by U.S. foundations, only $.04 support TGNC folks, with significantly less going to TGNC people of color.

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