In a recent interview by Dylan Matthews at Vox, Schott Vice President of Programs and Advocacy Edgar Villanueva described how the racial wealth gap has translated to a similar gap in philanthropic giving: a bias in how that wealth is dispersed, which keeps control away from people of color, and minimizes donations to groups run by people of color for the benefit of communities of color.
Schott is very proud of our partnership with the Nellie Mae Education Foundation (NMEF) and our joint support for grassroots organizing as a critical strategy for ensuring all children have a fair and just opportunity to learn.
Since its founding the Schott Foundation has worked to help build a broad-based movement to ensure all children have an opportunity to learn. Importantly, a movement led by the grassroots leaders in communities of color who are most impacted by educational inequities and other barriers to opportunity. It’s not arms-length philanthropy, but close working partnerships with our grantees and allies that undergirds all our work.
You would be hard-pressed to pick up a newspaper, scroll through an online media platform, or check social media without being bombarded with stories on the U.S. college admissions scandal. It’s been fodder for daytime and late-night television, grist for comedic satire, and a source of anger and frustration.
Originally published at Giving Compass.
Most people have a complex relationship with money. We either live in a state of perpetual lack, spend frivolously and without intention, or use it in ways that perpetuate harm. This is true for individuals and it is also true for institutions.
Today, as a member of the Lumbee Tribe and a foundation official, I plan to join with people across the United States to observe the third annual National Day of Racial Healing. Started by the W.K. Kellogg Foundation, this national day is designed to bring Americans together to demonstrate solidarity and work toward healing our racial divides. But what does it take to truly heal?
This week the New York Times profiled Schott Vice President Edgar Villanueva's new book Decolonizing Wealth and raised up his urgent call for a new direction in the philanthropic sector. As a public fund that supports funders in advancing social justice philanthropy, we at Schott are proud of Edgar and the deeply thoughtful dialogue he is sparking.
This is an exciting week at Schott—it marks the official release of Decolonizing Wealth, the provocative new book by Edgar Villanueva, Schott’s Vice President of Programs and Advocacy. It’s in bookstores nationwide—and is deservedly garnering wide attention, spurring candid assessments and dialogue within philanthropy.
Forbes just released its annual list of the wealthiest folks on Earth, who have an average net worth of $4.1 billion. Every time one of these lists comes out, the first thing I do is scan for names that are not white men, and every time, I'm disappointed.