A new effort to help grantmakers change the way they work so they can better support Black-led nonprofits was announced today. Abundance is a collaboration between three Chicago-area grantmakers, Chicago Beyond, the Grand Victoria Foundation, and the John D. and Catherine T. MacArthur Foundation.
Abundance is not a pledge, but rather a program for grantmakers. The foundations are in the process of hiring a director for Abundance and have given the group an annual budget of $400,000 for three years. Much about the way it works will be determined by the director, but the idea is to provide a forum for grantmakers to learn from one another about how to change their practices so they are more effectively supporting Black-led groups, which are often small, locally focused, and historically underfunded.
