$400,000 Major Grant Launches Fund to Advance Equity and Inclusion
DALLAS – October 13, 2021 – The Dallas Foundation, the first community foundation in Texas, announces it has secured $1 million in seed funding for its recently launched Racial Equity Fund. The lead grant is provided by the Highland Dallas Foundation, a longtime partner of The Dallas Foundation’s work to make Dallas a brighter and more equitable place for everyone who calls it home.
“Ensuring a strong and healthy start for all Dallas residents requires that we disrupt the historical inequities that disadvantage communities of color. The launch of the Racial Equity Fund recognizes that reality and leans into the idea that it will take aligned, collective action to create a more equitable Dallas where everyone can reach their full potential,” says Matthew Randazzo, President & CEO of The Dallas Foundation. “Highland Dallas Foundation’s $400,000 grant to this fund represents a significant commitment of resources to improve lives and make visible progress throughout North Texas.”
The new Racial Equity Fund aims to use the collective influence and resources of The Dallas Foundation along with those of its donors and partners to advance equity for Dallas’ BIPOC (Black, Indigenous, People of Color) residents by strategically and purposefully directing philanthropic dollars to support organizations that combat systemic inequities including housing/infrastructure; economic; education; criminal justice/government; and health.
Prolonged divestment in communities of color has resulted in poorer quality schools, fewer job opportunities, lack of economic mobility, and poorer health outcomes. According to a UT Southwestern study, Black and Hispanic residents experience a startling difference in nearly every facet of life. Life expectancy can vary by nearly 20 years for residents of Fair Park versus those in the Park Cities zip codes.
The Dallas Foundation intends to secure a minimum of $3 million in co-investment from donors and partners to address these systemic ways that racial inequity continues to persist in Dallas. Grant investments from the Fund will begin in Spring 2022 and will be informed by a fund advisory committee reflective of the community.
About The Dallas Foundation
The Dallas Foundation, established as the first community foundation in Texas in 1929, brings together people, ideas, and investments in Greater Dallas so individuals and families can reach their full potential. In 2020, The Dallas Foundation, in partnership with our more than 400 fundholders, invested over $60 million into the community.
About The Highland Dallas Foundation
The Highland Dallas Foundation was established in 2011 for charitable, educational, and scientific purposes. The Highland Dallas Foundation is a supporting organization of The Dallas Foundation, the first community foundation in Texas. Since its inception, the Highland Dallas Foundation has contributed tens of millions of dollars to charitable causes focusing on the following issue areas: education; support for military, veterans, and first responders; health and medical research; economic and community development initiatives; and youth and family. This charitable giving has made a tangible impact on improving the lives of Dallas residents.