More people in the Black community can buy homes. Black students are receiving critical financial and academic assistance for college and career success. Others are starting their own businesses or receiving the work training needed to pursue new, high-paying jobs.
Over the last two years, strides like these were made possible by the launch of the San Diego Foundation Black Community Investment Fund (BCIF).
The fund was created after COVID-19 and the racial reckoning of 2020 revealed the impacts of systemic racism, especially as it impacts Black communities. For example, San Diego County’s Black community has the highest poverty rate (21%) of any group in the region. Statistics like these drove SDF to work with the County and San Diego Black Chamber of Commerce to start the fund.
BCIF follows four core pillars of grantmaking – education, entrepreneurship, employment and housing – all chosen and defined by the BCIF Advisory Council. Since its start, BCIF has granted more than $3.3 million to Black San Diegans.
Making an Impact
How has BCIF begun to move the needle on housing, entrepreneurship, employment and education?
- Nearly 40 Black homebuyers, including Jordan Daniels, were able to make their homeownership dreams a reality.
- The County of San Diego Black Chamber of Commerce Urban Business Resource Center received $500,000 to help Black entrepreneurs start their businesses, with nearly 100 assisted so far.
- SDF and San Diego Workforce Partnership provided workforce training in healthcare, IT and construction to 100 people so they could grow their income potential through high-paying local jobs.
- More Black students received scholarship support for college this past year and SDF partnered with four local Black sororities to provide $75,000 in matching grants for scholarships.
However, none of this work would be possible without the crucial help of donors and funders.
To launch BCIF, SDF received seed funding from partners like San Diego Gas & Electric, Wells Fargo Bank and Cox Communications, with Bank of America also contributing this past year. Together, their contributions have helped make a change in our community by increasing racial equity and building generational wealth for Black San Diegans.
There is still work left to do to achieve the SDF vision of just, equitable and resilient communities. To learn how you can support racial and social justice in the San Diego region or to donate, visit the BCIF webpage.