Leaders, donors, and investors will convene on Friday, August 22nd, to encourage Black-led philanthropy.
The Community Foundation of Greater Memphis will host its first Black Philanthropy Month Symposium at Bridges USA as a precursor to Give 8/28 — a national day focused on giving to “Black-led and Black-benefiting nonprofits.”
“[The] Powered By Us Symposium, a transformative event [will bring] Black leaders, donors, and changemakers to build a unified roadmap for Black-led philanthropy,” The Community Foundation said in a statement. “It’s a call-to-action from community leaders in Memphis on how we better engage the majority of the city to amplify the work happening here that impacts each corner of our community.”
According to The Community Foundation, funding disparities disproportionately affect Black nonprofits compared to white-led ones. Data from The Bridgespan Group found that Black-led organizations operate with “revenues 24 percent lower than white-led ones.”
“Funding equity begins with awareness and trust in the incredible Black-led, Black-serving organizations that are often uniquely positioned to listen and respond to those they serve,” the foundation said in a statement.
Veronica Jamison, vice president of philanthropic service for The Community Foundation, said with Memphis’ predominantly Black population, these organizations are committed to being “boots on the ground” and doing impactful work.
“They shouldn’t have to sit back and wait for things, because they are truly committed to making this city better for all of us,” Jamison said.
This year’s symposium, along with the celebration of Give 8/28 day, seeks to close the gap for more than 200 Black-led nonprofits in the Mid-South.
Aerial Ozuzu, director of community impact for The Community Foundation, said as they encourage donations for Black-led and focused nonprofits, it’s also important for Black people to see themselves as philanthropists.
She said Black people have had a history of generosity, whether it be in their churches or to different causes in their network.
“The legacy of Black people is giving to make sure we all have what we need,” Ozuzu said. “It’s entrenched in our DNA to make sure we take care of our own. It’s important to emphasize who we are and put names and words to it, because we know the power that can be associated with that.”
Ozuzu said The Community Foundation is also dedicated to making sure these nonprofits have access to the capital they need to function. She said the city is full of generosity and this event seeks to bring more attention to the ways people can give.
Organizers said they hope attendees walk away feeling inspired, with a call to action to connect and learn more about the work being done in the Mid-South.