Federal government taps Foundation for Black Communities to manage $200M Black-led philanthropic endowment fund
Why It Matters
The Foundation for Black Communities will be responsible for managing a $200 million philanthropic endowment in support of Black communities in Canada over the next decade and beyond. How they choose to invest, steward, and distribute the fund will have significant impacts for Black-led philanthropy and Black communities in Canada.
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In Ottawa on Wednesday, on the unceded and unsurrendered territory of the Algonquin Nation, Minister of Housing and Diversity and Inclusion, Ahmed Hussen announced that the Foundation for Black Communities (FFBC) will administer the governmentโs $200 million Black-led Philanthropic Endowment Fund.ย
โThis is a historic day,โ said Hussen. โ[This will] sustainability support Black Canadian communities from coast to coast.โ
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