Open Society Foundation, the philanthropic organization founded by billionaire George Soros, is investing $220 million in emerging organizations and leaders building power in Black communities across the U.S.
The largest share for the investment, $150 million, will be through a set of five-year grants to Black-led organizations focused on racial equality, the organization announced Monday.
“It is inspiring and powerful to experience this transformational moment in the racial justice movement,” Open Society Foundations’ President Patrick Gaspard said in a statement. “We are honored to be able to carry on the vital work of fighting for rights, dignity, and equity for oppressed people the world over started by our founder and chair, George Soros.”
Some of the organizations receiving the grants are fighting for expanding voting rights, while others are fighting for police reform. Recipients of this set of investments include Black Voters Matter, Circle for Justice Innovations, Repairers of the Breach and the Equal Justice Initiative, according to Open Society Foundations.
In addition to the five-year grants, Open Society Foundations said it is also making a series of investments totaling $70 million in “more immediate efforts to advance racial justice.”