Things are changing for the better for black-led nonprofits, who typically “have less access to funding sources, and have fewer cash reserves to use to support their missions”, according to a study organized by the Philadelphia African American Leadership Forum.
“Earlier this year, local civic leaders and philanthropy professionals launched the Philadelphia Black Giving Circle to distribute pooled funds to nonprofits in the Philadelphia area that are black-led and black serving. Sidney Hargro, ED of Philanthropy Network Greater Philadelphia, said:
Historically, the black community has always valued the giving of money, goods, and time to support worthy causes, though the term “philanthropy” was not necessarily used to describe these efforts. The Philadelphia Black Giving Circle will be a formal catalyst that builds on this rich tradition to create and scale social change in our region.”
Read the full story by Alyssa Ochs in Inside Philanthropy.