Hartford Foundation invests $2.5M in foundations aimed at Black, Hispanic communities
Photo | Contributed
Hartford Foundation President Jay Williams addresses a crowd of nonprofit leaders.
The Hartford Foundation is spending $2 million to support two foundations aimed at boosting opportunities and improving life for people in Greater Hartford's Black and Hispanic communities.
The foundation will make two $1 million grants to the Prosperity Foundation, a Black-led philanthropic organization, and the Hispanic Federation – Connecticut, a Hispanic-led organization. It will also establish two five-year, $250,000 flex-funds for the Foundation’s two existing giving circles, the Latino Endowment Fund and Black Giving Circle Fund.
The Prosperity Foundation and the Hispanic Federation - Connecticut will write grants aimed at capacity building in the Hartford region, according to the Hartford Foundation. Those serving on the group’s boards will work to connect stakeholders in communities of color to resources for projects aimed at ending systemic racism and other issues.
"These investments are intended to galvanize our Black and Latinx communities and give them the agency and power to determine where resources should be spent,” Hartford Foundation President Jay Williams said.
The two $1 million grants will be made in 2021 Williams said.
Prosperity Foundation Board Chair Howard K. Hill said the organization's focus will be on reversing historic trends that have left Black people behind.
“This $1 million investment into TPF is an important first step needed to bridge a 225-year wealth-gap when it comes to our whole health, education, economic development and overall sustainability for a people badly in need of the opportunity," Hill said.
Hispanic Federation - Connecticut President Frankie Miranda said the Hartford Foundation's $1 million grant can grant Hispanic communities in Greater Hartford with some relief from the health and economic damage the COVID-19 pandemic has caused.
"As Latinos have been disproportionately impacted by the current health pandemic due to historical inequities, we commend this unprecedented investment of $1 million to advance the social and economic vitality of the region’s Latinx communities," Miranda said.
Correction: A previous version of this story incorrectly stated the Hartford Foundation recently founded the Prosperity Foundation and the Hispanic Federation – Connecticut., and the two organizations would each receive $1.5 million in funding from the Hartford Foundation. The two organizations were founded independent of the Hartford Foundation. The Hartford Foundation is granting each organization $1 million, and will also establish two five-year, $250,000 flex-funds for the Foundation’s two existing giving circles, the Latino Endowment Fund and Black Giving Circle Fund.
Most Recent
Most Recent
0 Comments