Contact: Marie C. Smith, Director of Communications
(631) 991-8800, ext. 223, msmith@licf.org
Melville, NY (October 19, 2022) – The Long Island Racial Equity Donor Collaborative at the Long Island Community Foundation is awarding $500,000 to provide continued support to Black-led organizations advancing racial equity by increasing access to living-wage jobs and improving financial wellness.
The Racial Equity Donor Collaborative is releasing the third year of grants to support the ongoing work of four organizations addressing economic disparities: Bridgehampton Child Care and Recreation Center; Choice for All; Leadership Training Institute; and Women’s Diversity Network. First-year funding was awarded in 2020 to help these organizations plan programs that would drive inclusive economic growth for Black Long Islanders. In 2021, each organization received a second round of support to pilot-test their models. This third year of funding will enable the groups to refine and scale the projects. The organizations, which span the Long Island region, have 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.
Nearly $1.5 million dollars have been raised through the effort; $1.1 has been awarded to Long Island nonprofit organizations which also received specialized technical assistance from Prosperity Now, a national nonprofit leader dedicated to expanding economic opportunity for low-income families.
The social and economic exclusion of Black Long Islanders has led to significant economic inequities as evidenced by wealth, housing, health, and educational attainment. A 2017 Policy Link research study identified Nassau and Suffolk counties’ combined annual economy of $120 billion but noted it would have been $24 billion stronger if racial gaps in income were eliminated. In 2019, an Urban Institute research study concluded that Black Long Islanders are 27 percent less likely than white Long Islanders to have liquid assets to cover sudden costs such as a job loss, medical emergency, or any other crisis leading to a loss of stable income. A report released by the Federal Reserve Bank of New York highlighted two major challenges—lack of access to credit and financial exclusion for Black Long Islanders.
This September, two of the Racial Equity Donor Collaborative grantees were invited to present their learnings and strategies at a national summit facilitated by Prosperity Now.
“When the Long Island Racial Equity Donor Collaborative was formed in 2018, we knew that in order to address racial inequities on Long Island, it would take a combination of local expertise and national investment. This week, by engaging leading organizations of all sizes at the Prosperity Now summit, our grantees have made important strides to advance opportunities for collaboration and accelerate solutions that serve the needs of Black Long Islanders.”– Natalie Abatemarco, Citi Bank, co-chair of the Racial Equity Donor Collaborative.
“It was exciting to have Long Island represented on the National Stage at the Prosperity Now Summit. The Long Island Racial Equity Donor Collaborative grantees dispelled the misconception that Long Island is synonymous with the Hamptons and painted a truer picture; one of the systemic inequities and community-led solutions. America’s first suburb is again a model for suburbs across the country to emulate; doing very deep, hard and iterative work to right historic wrongs.” – Jeanique Druses, JPMorgan Chase, co-chair of the Racial Equity Donor Collaborative.
“We are extremely grateful for the sustained partnership with the Racial Equity Donor Collaborative which has enabled our organization to build plans for a community-led financial empowerment center dedicated to advancing economic inclusion for Black Long Islanders. This work is crucial to the health of our communities and region. We’re using financial services and education to ensure that every Black Long Islander can achieve and sustain financial security, regardless of where they live.” – Jacob Dixon, Choice for All
“We are grateful to the Long Island Racial Equity Donor Collaborative for this award to continue our program. The grant enables us to continue working with our clients thereby creating opportunities for increased economic mobility, financial literacy, and overall well-being.” – Aster Mehreteab, Leadership Training Institute
“The Wealth Equity Fellowship is continuing the work of improving salaries and job opportunities for Black women and Gender expansive people. We look forward to working with our 2nd cohort this upcoming year. We are so excited about the opportunities that are being presented to everyone that has attended the fellowship.” Tanika Steele, Women’s Diversity Network
“The Bridgehampton Child Care and Recreational Center is truly grateful for the opportunity that the Long Island Racial Equity Donor Collaborative has provided. This funding and technical assistance allowed us to pilot and implement Teach Me How to Fish, our high-skills workforce training strategy. We realize that our community members and other stakeholders will likely be adversely impacted by continuing inflation and a looming recession, and we are more committed than ever to ensuring upward economic mobility for all in our community.” Bonnie Cannon, Bridgehampton Child Care and Recreational Center