Long Island Racial Equity Initiative

Building from data and research, the Fund’s vision is to:

• Support Black-led nonprofit programs and projects that create economic opportunities.
• Increase the capacity of community-based efforts that strengthen leadership opportunities.
• Empower Black Long Islanders to create solutions to racial inequities.
• Leverage these strengths to garner greater public and private investments to fund opportunities to increase financial access.
• Support innovative Black-led, suburban-oriented solutions that serve Black communities to address inequities.
• Foster partnership, collaboration, and shared learning opportunities with donors in other regions to address racial and economic inequity.

The Long Island Racial Equity Fund was established in 2018. It has raised nearly $1.5 million to date to address racial inequalities by supporting strategies informed by the Long Island Racial Equity Donor Collaborative and the findings and recommendations outlined in a Long Island-focused equity profile authored by Policy Link.

This Fund strives to increase upward mobility opportunities and improve the quality of life for Black Long Islanders by employing strategies that strengthen credit, build assets and wealth, and develop quality workforce development opportunities. The Fund’s efforts are directed at the systems level—organizational networks, associations, institutional configurations, and pivotal stakeholders—in an effort to build capacity, catalyze collaboration, and strengthen the systems that can serve the interest of achieving tangible outcomes.

• In September 2020, the Collaborative awarded seven $25,000, six-month planning grants to support Black-led nonprofit organizations advancing racial equity by increasing access to living-wage jobs and improving financial wellness. In addition to the planning grant, the Collaborative hired the Racial Wealth Divide Initiative Team at Prosperity Now to provide racial, economic, and wealth equity technical assistance and strengthen the capacity of the grantees to develop their programs.
• In June 2021, through a competitive process, the Collaborative awarded $100,000, one-year implementation grants to provide continued support to four of the planning grant recipients: Bridgehampton Child Care & Recreational Center, Choice for All, Leadership Training Institute, and Women’s Diversity Network. Prosperity Now received ongoing support to continue assisting the grantees as they prepared for program launch, outcomes evaluation, and sustainability.
• In 2022 the Fund released a third year of grants totaling $500,000 inclusive of technical assistance to support the ongoing work of four organizations addressing economic disparities. The second year’s funding was for pilot testing the models, and the third year will be to refine and scale the projects.

The organizations, which span the Long Island region, have successfully established effective public/private partnerships to advance their goals, leveraged additional funding from new sources, and improved the earning power of Black individuals and families.

THE FUND CONTINUES TO:

• Develop strategies for the ongoing support of the current grantees and determine how to expand the future of our investments into organizations working in the workforce development and financial wellness/credit-health racial equity arenas, based on the landscape analysis conducted by Urban Institute.
• Recruit additional donors for partnership and to inform investment strategies.
• Promote best practices and share lessons learned.
• Work in partnership with regional stakeholders and decision-makers, including community leaders in labor, government, and business who are committed to participating in the ongoing work of implementing policy changes that lead to increased inclusion and economic opportunities for Black residents; develop additional studies and informational resources as needed; and document and evaluate impact.

The LI Racial Equity Donor Collaborative is a place to learn. We are continually developing, analyzing, and refining our program. We are committed to achieving the transformation we seek to catalyze.

HOW OUR INVESTMENTS HAVE BEEN LEVERAGED

Bridgehampton Child Care and Recreation Center:  Teach Me How to Fish is an upward mobility workforce development program designed to positively impact economic equity on Long Island. Through high-quality, high-skills training opportunities, coaching and mentoring, and access to high-salaried careers in sustainable and growing industries, it is helping change the economic trajectory of participants and their families. In its pilot year, through partnerships with business and municipal leaders, nearly 30 individuals have participated in training programs in real estate and technology. In the coming year, they will expand the program to include emerging careers in the fast-growing wind energy sector.

Choice for All: To increase the availability of financial services and opportunities for Black Long Islanders to access these services and build generational wealth, Choice for All is establishing two financial empowerment centers in Roosevelt and Wyandanch and developed a culturally competent financial empowerment counseling curriculum that will be offered to 100 Black Long Islanders in the coming months. A financial advocate will work with the clients on individualized financial plans to accelerate their financial health and narrow the wealth gap. The work has inspired local municipalities, who are eagerly reviewing readiness to explore a partnership with the FEC Academy.

Leadership Training Institute: The STEP Program provides financial literacy coaching that offers a financial roadmap to individuals and their families through group workshops and individual one-on-one training. Additionally, the STEP program also offers career development strategies that focus on increasing the earning potential of our program participants. In its pilot year, LTI services have helped clients increase credit scores and personal savings, secure employment, and successfully purchase their first homes. The Leadership Training Institute is continuing to build on the successes of the pilot, expand its program, and increase the number of clients served.

Women’s Diversity Network: To address the wage gap inequality, Women’s Diversity Network (WDN) has developed a fellowship and mentoring program for Black women and gender-expansive individuals which exposes participants to high-salaried careers, builds their personal brand, strengthens their job search, and provides networking opportunities. Since its pilot year, fellows have obtained higher-paying jobs and secured competitive apprenticeships as WDN has broadened the program to include more participants and career mentors.

• Apple Bank
• BankUnited
• Capital One
• Citi
• Dime
•  JPMorgan Chase & Co.
• The New York Community Trust
• M&T Bank
• Wells Fargo
• Nassau Financial Federal Credit Union
• William E. & Maude S. Pritchard Charitable Trust
• Santander
• Surdna Foundation