The Power Fund is a new initiative to fund and elevate nonprofit leaders of color who share Robin Hood’s mission of increasing mobility from poverty, while addressing the interplay of racial injustice and economic injustice through their work.
The Power Fund invests in leaders of color who are reflective of the communities they serve. Over the last twenty years, only 10% of philanthropic dollars have gone to organizations led by people of color, despite giving increasing nearly 400 percent over the same period. We are addressing a critical funding disparity while funding leaders of color who bring perspective, proximity, and expertise to the fight against poverty.
The
Challenge
Leaders of color have been overlooked and underfunded. While leaders of color receive fewer philanthropic dollars, organizations led by women of color receive even less support.
The data and research on poverty is conclusive on a singular fact: race is one of the strongest predictors of life outcomes in the United States. As a poverty-fighting organization in a city where 80 percent of those in poverty are people of color, we know that poverty fighting solutions that do not account for the conflating impacts of economic injustice and racial injustice will consistently fall short.
Read the Concept PaperIt is critical we fund leaders of color, reflective of the communities they serve. As a recent Bridgespan-Echoing Green report underscores:
“Funding leaders of color is a significant piece of this puzzle, because these leaders often bring strategies that intimately understand the racialized experiences of communities of color and the issues these communities face.”
“Funding Leaders of color is a significant piece of this puzzle, because these leaders often bring strategies that intimately understand the racialized experiences of communities of color and the issues these communities face.”
- Bridgespan Group and Echoing Green
- Leaders of color bring perspective, proximity, and expertise to the fight against poverty
- Leaders of color are hindered by bias and face barriers to accessing capital - leading to significant funding disparities
- The Power Fund is seeking to address this systemic racism that has disadvantaged leaders of color for decades – which Robin Hood has to confront its role in – and catalyze an evolution in all of Robin Hood’s grantmaking.
Over the past two decades, only around 10 percent of philanthropic dollars have gone to organizations led by people of color, despite giving increasing nearly 400 percent.
Our
Solution
Our
Strategy
Driven by research on the barriers leaders of color are consistently faced with in accessing, securing, and sustaining philanthropic funding, the Power Fund is grounded in three pillars of support:
- A meaningful investment in the organization
- Targeted capacity-building and technical assistance support for the organization
- A self-directed investment in the leader’s own development and elevation
Meet the Power Fund leaders
Eligibility
To be eligible for Power Fund support, organizations must be 501(c)(3) organizations operating in New York City: (1) with leadership of color, prioritizing EDs/CEOs of color; (2) whose missions are aligned with Robin Hood’s mission to increase sustainable mobility from poverty; and (3) that are addressing the interplay of racial injustice and economic injustice in their work.
Please note that we do not accept funding requests for the Power Fund. We are, however, expanding our network to get to know the organizations that are addressing economic and racial injustice in New York City. If there is an organization you think we should begin getting to know, please share that information here.
Current community partners are not eligible. The Power Fund is a new and additive initiative which seeks to expand our funding to significantly increase leaders-of-color-led organizations amongst our grantees.
The Power Fund Advisory
Leaders who have demonstrated a commitment to racial justice joined our Advisory to provide expertise to Robin Hood on the Power Fund initiative. Members include:
How the Power Fund is resourced
The Power Fund was seeded with an initial investment of $10 million by Robin Hood, with additional investments from partners, including BlackRock, Capital One, Macquarie Group, NBCUniversal, Salesforce, the Stavros Niarchos Foundation (SNF), Charles and Lynn Schusterman Family Philanthropies, Warburg Pincus, and Wells Fargo, in addition to employee match program support from Bridgewater Associates, Goldman Sachs Gives, and Tudor Investment Corporation.
Want to Learn More?
Learn more about the barriers faced by leaders of color in securing funding and why race matters in the fight against poverty. See what’s new in our library of resources.