Federal government taps Foundation for Black Communities to manage $200M Black-led philanthropic endowment fund

“This is legacy. This is the kind of thing that will have an impact for generations to come,” said Minister for Women and Gender Equality and Youth, Marci Ien at the federal announcement during Black History Month.

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.

This independent journalism is made possible by the Future of Good editorial fellowship covering the social impact world’s rapidly changing funding models, supported by Future of Good, Community Foundations of Canada, and United Way Centraide Canada. See our editorial ethics and standards here.

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 government’s $200 million Black-led Philanthropic Endowment Fund. 

“This is a historic day,” said Hussen. “[This will] sustainability support Black Canadian communities from coast to coast.

Our social impact coverage and insights enrich thousands of change makers like you everyday. Sign up for a free account with Future of Good to continue reading this series.