Fund Led by NBA Icons Investing $230K to Empower Black Youth and Entrepreneurs

NBA legends Carmelo Anthony, Chris Paul, and Dwyane Wade, alongside their philanthropic endeavour, the Social Change Fund United (SCFU), have announced a significant investment of $230,000 into two initiatives aimed at uplifting the Black community.

This strategic move by the trio, who are not only renowned NBA athletes but also committed philanthropists and entrepreneurs, highlights their steadfast dedication to economically empowering historically marginalized communities in the United States. 

These initiatives also seek to bolster Black youth and entrepreneurs, addressing the persistent disparities faced by these communities.

Established in 2020 in response to widespread racial injustices across the nation, SCFU has been unwavering in its mission to support organizations advocating for communities of color. 

Their impactful work has already reached over 130,000 individuals through various initiatives, including support for the George Floyd Memorial Foundation, scholarships, and partnerships with nonprofit organizations.

With nearly $1 million in grants already distributed, including substantial support for small business owners in cities like New Orleans, Chicago, Los Angeles, and Winston-Salem, North Carolina, SCFU is now doubling down on its commitment to narrowing the racial wealth gap. 

Their renewed vision focuses on promoting entrepreneurship, leadership, and innovation within black and brown communities.

SCFU has outlined its plans to allocate the $230,000 investment into two key programs: SCFU We Got Next and SCFU Legacy.

The SCFU We Got Next initiative aims to equip youth with the necessary skills to thrive as future business leaders. 

Through partnerships with organizations like Gray Matter Experience, AllStar Code, and Rapunzl, SCFU will invest a combined $125,000 to provide access to entrepreneurial training and resources.

Meanwhile, the SCFU Legacy initiative, in collaboration with Stackwell Capital, will award grants to six minority-owned small businesses based in Los Angeles. 

This program, set to kick off this summer with its inaugural 2024 cohort, will receive $105,000 in funding from SCFU.

Aida Morrow, Executive Director of SCFU, expressed excitement about the fund’s expanded focus, stating, “We’re thrilled to launch this new dimension of SCFU and reaffirm our commitment to empowering underrepresented communities. 

Through this strategic shift, we aim to pave the way for a more inclusive future, unlocking untapped potential and uplifting the communities we serve.”

Chris Paul, co-founder of SCFU and now with the Golden State Warriors, emphasized the importance of community engagement in achieving their mission, stating, “Our involvement within communities of color is paramount to realizing the impact and outcomes of our mission.” 

His co-founders, Dwyane Wade and Carmelo Anthony, retired from the NBA in 2019 and 2023, respectively.

Reflecting on the fund’s new direction, Callie Curry, SCFU Advisory Board Member and Executive at Creative Artists Agency (CAA), expressed pride in the progress made over the past three years. She expressed confidence that this next phase of work would amplify their efforts, attract new partners who share their vision, and positively impact more lives.