More than two dozen philanthropic organizations including the Annenberg Foundation, the California Endowment and the Conrad N. Hilton Foundation — all based in Los Angeles — Thursday launched the California Black Freedom Fund, a $100 million, five-year initiative that they say will provide resources to Black-led organizations in the state that are seeking to erase systemic racism.

The new fund is intended to address a “history of underinvestment” by philanthropists in Black-led and power-building organizations. It currently holds an initial investment of $32.4 million, with the rest of the money to be raised and distributed within the next five years to groups engaged in advocacy and other types of mobilization.

The fund says it plans to support Black-led organizations “focused on stopping police violence, promoting education equity, improving health outcomes, championing voter registration and civic engagement and crafting policies around increasing access to housing.”

Dr. Robert K. Ross, president and CEO at the California Endowment, said the effort represents “a bold move by philanthropy. But we know it will take bold moves such as this in order to reimagine institutions that are more inclusive and racially equitable for all Californians.”

Ross said, “The pandemic and the racial divide in this country have exposed the anti-Black systems that are in place. These resources will make sure we build and sustain an ecosystem of Black-led organizations and networks that can move racial equity work forward, while leading California towards healing and structural change.”

In its first round of grant-making, the Freedom Fund is investing over $6 million to support three established Black networks that have long-term working relationships with dozens of Black-led organizations across the state:

— Black Census and Redistricting Hub — A network of more than 30 Black-led and Black-serving organizations maximizing participation in the census and redistricting process among hard-to-count Black communities;

— Black Equity Collective — A community-public-private partnership strengthening the long-term capacity and infrastructure of Black-led and Black-empowering social justice organizations in Los Angeles County and the Inland Empire; and

— PICO California — Live Free/Bring the HEAT: An intervention organization that acts to protect the basic health, safety and well-being of all people by demanding a series of immediate and sweeping changes to the current policing systems in the U.S.

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