Black Freedom Fund Sets $200M Endowment to Strengthen Black Communities

The California Black Freedom Fund, born in 2020 at the height of national protests following the murder of George Floyd, is embarking on an ambitious effort to secure its future: the creation of a $200 million endowment.

The move is rare in philanthropy and comes at a politically sensitive moment, as the Trump administration ramps up scrutiny of race-based grantmaking.

Originally housed within the Silicon Valley Community Foundation, the fund became an independent nonprofit on July 1 under a new name, the Black Freedom Fund — reflecting its broader national mission.

In five years, it has raised more than $97 million and distributed $45 million in grants to 206 California-based nonprofits supporting Black communities. Its grantees include organizations working on criminal justice reform, youth development, civic engagement, and economic empowerment, with a focus on long-term capacity-building rather than short-term aid.

Executive Director Marc Philpart said the endowment would enable the fund to provide $10 million in annual grants without eroding its principal.

“When a crisis occurs in the Black community, philanthropy parachutes in, there’s a wave of support, and then as soon as the news cameras turn away, the support recedes,” he said. “We need enduring institutions led by and committed to the Black community in ways that have a lasting impact.”

The push comes at a time of growing political pressure on race-conscious initiatives. The Department of Justice has been instructed to investigate diversity, equity, and inclusion programs, while a 2023 Supreme Court ruling striking down race-based college admissions has cast uncertainty across philanthropic efforts.

“The administration is fervently looking for people to make examples of at this point,” said Dan Morenoff, executive director of the American Civil Rights Project.

Yet, donor enthusiasm appears resilient. “People have rallied to us and doubled down on their commitments to support Black freedom and Black power,” Philpart noted. “There is a critical mass of leaders throughout the country who care very deeply about the community.”

Among those supporters is the California Wellness Foundation. Its president, Richard Tate, described the Black Freedom Fund as “needed now more than ever.” He added: “

The fact that we are talking about a Black Freedom Fund is an acknowledgment that not everyone has equal standing in the culture. Whatever headwinds exist in this political moment, now is the time to be explicit about supporting this community.”

The effort also underscores longstanding disparities in philanthropy. A 2022 Bridgespan Group analysis found that nonprofits led by Black executives receive endowments only one-quarter the size of those awarded to white-led organizations. That inequity, fund leaders argue, makes the creation of a strong endowment essential to ensuring independence and stability.

Philpart remains confident in reaching the $200 million target. “We’re drawing people out who want to prove we are greater than divisiveness, greater than bigotry, and greater than racism,” he said.