Billionaire George Soros Encourages Philanthropists to Invest in African-American Males
According to a report by Soros’ Open Society Foundations and the New York-based Foundation Center, black males are in desperate need of support and opportunities.
The report, titled ‘Where Do We Go From Here? Philanthropic Support for Black Men and Boys,’ shows that annual funding designated for that specific group has been rising steadily, from $10 million in 2003 to $29 million in 2010. Education is a top funding priority, garnering 40 percent of those grant dollars between 2008 and 2010. California, New York and Georgia are the top three states receiving foundation money explicitly designated for black males.
Targeting money specifically to black males is important because one wave does not lift all boats, meaning solutions and the dollars that fund those solutions must be targeted to specific demographics.
“It is my hope that this report will motivate other philanthropists and foundations to invest in efforts to improve achievement by African American boys and men,” Soros said in a statement. “This is a generational problem that demands a long-term commitment.”
Both George Soros and Mayor Michael Bloomberg have each donated $30 million dollars to programs designed to help African-American and Latino males.
It is a positive indicator that even though the U.S. government refuses to deal with the lack of opportunity for African American males, some philanthropists are stepping up to the plate. Soros should be commended for his efforts.
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