The racial reckoning that followed George Floyd 's murder in 2020 carried hopes of new support for disproportionately underfunded, Black-led nonprofits. American companies stepped up donations to historically Black colleges and universities. Major climate funders pledged to give more toward minority groups. Large donors sought to narrow the racial wealth gap.
But new research released Tuesday shows that such financial gains for many Black-led nonprofits were short-lived, if they happened at all. A subset of large, Black-led nonprofits saw only temporary funding increases between 2020 and 2022, according to the analysis by nonprofit research service Candid and Black philanthropy group ABFE. Smaller organizations saw no significant change.
