Community Foundation Announces Meta as Racial Equity Fund Lead Donor of 2022 with $20,000 Donation
HUNTSVILLE, Alabama – The Community Foundation of Greater Huntsville announces today that Meta (formerly the Facebook company) is investing $20,000 in the Racial Equity Fund, which strategically addresses equity gaps that affect quality of life. With this generous donation, Meta is named the 2022 lead donor of the Racial Equity Fund for the second year in a row and jumpstarts fundraising efforts to support the strategic work of the Racial Equity Fund.
The Community Foundation's Racial Equity Fund was launched in 2020 with the financial support of 70 Founding Donors to provide community capital to address equity issues. Meta has invested $65,000 since then to support this critical work. Funds granted in the first grant cycle totaled $115,000 for 13 local nonprofit organizations. In 2021, over $70,000 was granted to 11 local nonprofits. Each of these grants support local programs and projects that span the four focus areas of the Racial Equity Fund:
- Economic opportunity
- Health and wellness
- Neighborhoods and communities
Because this issue is not one that will be resolved quickly, the Racial Equity Fund provides a lasting legacy of support for this issue. This goal is achieved in two primary ways. Fifty percent of all donations are used for current year grantmaking, and the balance is endowed to provide a permanent source of funding to address the ongoing needs for racial equity.
Each February, in honor of Black History Month, the Community Foundation seeks additional annual donors who share a vision for equity in our community. Donors will be announced across the Community Foundation's social media channels, added to the Racial Equity Fund webpage, and receive a Racial Equity Fund seal.
This year, technology company Meta once again steps up as the first investor in the Racial Equity Fund with a generous investment of $20,000. The company supports initiatives that promote greater economic and health equity, diversity and inclusion, including partnerships with community foundations across the US to support the work of hundreds of nonprofits serving Black communities. Katie Comer, Southeast Regional Community Development Manager, says, “Meta stands in support of the Black community and all those fighting for equality and justice every single day. The Community Foundation of Greater Huntsville is doing important work that directly benefits our community, and we are proud to invest in this work, and invite other companies and organizations in the Greater Huntsville region to join with us in supporting the Racial Equity Fund.”
Meta has been a proud supporter of the Huntsville community since 2018, when it announced that an advanced, energy-efficient data center would be built here.
Funds raised in February will be included in the grant cycle for this fund which opens in February, and local nonprofits serving within the focus area are encouraged to apply by March 11. Grants will be selected by a Grants Committee composed of a diverse group of community members with more than half of the members representing racial and ethnic minorities.
The Community Foundation believes that generosity is an investment in the future you wish to see. All gifts to the Racial Equity Fund will help create a community where all residents have the opportunity to fulfill their highest potential. “When we tackle existing equity gaps, we expand opportunities to many people across our community,” says Melissa Thompson, CEO and President of the Community Foundation. “Only then can we experience the changes necessary to be a place where all residents can learn, work, and further contribute to a healthy, thriving, and prosperous place to call home.”
Together we take purposeful action to create a community where we all can thrive. For more information about this fund, the grant process, or to donate, please visit CommunityFoundationHSV.org/Equity.