ESDC | Black-Led Philanthropic Endowment Fund

The Black-led Philanthropic Endowment Fund seeks to create a sustainable source of funding for Black-led, Black-focused and Black-serving non-profit organizations and registered charities. Through it, the Government of Canada will provide 1 national Black-led and Black-serving recipient organization with an endowment of $199,476,227.

Description of funding

Eligible organizations must apply for the maximum total budget of $199,476,227 and a minimum duration of 10 years. At least $190,000,000 would take the form of an endowment.

The recipient organization would be able to access up to $9,476,227 of the total budget. This amount would support first-year operating costs and early granting activities while the endowment gains maturity.

The endowment is restricted to a period of 10 years. At the end of the 10 year period, the restrictions are reviewed and may either be maintained, amended or removed.

Eligible organizations can only submit 1 application. If you submit more than 1 application, we will only review the first one.

This organization will be responsible for investing the endowment. The investment income will provide funding to Black-led, Black-focused and Black-serving non-profit organizations and registered charities across the country. It will apply a Black-centric and intersectional lens to its operations and granting strategy to ensure that they reflect and benefit the full diversity of Black communities. The organization will have support in its operations and activities from the following: 1 or more investment advisor(s) and/or portfolio management (firms) an established allied public foundation (for a period of 3 years or more)

Objective

This call for proposals will provide endowment funding to an eligible organization that would seek the broad goals of:

• reducing anti-Black racism
• improving social and economic outcomes in Black communities

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