BACKBLACK CAMPAIGN LAUNCHES TO CONNECT BLACK-LED NONPROFITS WITH PHILANTHROPIC CAPITAL
NEW YORK, Aug. 3, 2023 /PRNewswire/ -- A coalition of major giving platforms and donors today launched the BackBlack campaign to address funding disparities affecting Black-led nonprofits. Starting this August, during Black Philanthropy Month, Black-led nonprofits can access a central hub – BackBlackMovement.org – to connect with resources and funding opportunities across platforms.
- Starting this August, during Black Philanthropy Month, Black-led nonprofits can access a central hub – BackBlackMovement.org – to connect with resources and funding opportunities across platforms.
- Moreover, revenues of Black-led nonprofits are 24% smaller than revenues of their White-led counterparts, and unrestricted net assets of Black-led nonprofits are 76% smaller than White-led nonprofits ( Bridgespan Group and Echoing Green ).
- White-led nonprofits are also more likely to receive corporate donations — 71% vs 58% for BIPOC-led nonprofits ( Nonprofit Finance Fund ).
- The BackBlack campaign aims to direct more philanthropic capital to Black-led organizations, build greater awareness of racial disparities in funding, and generate new data and insights to close the funding gap.