In order to transform the lives of the more than 100 million people1 in America living in or near poverty—or 1 in 3 people, including nearly half of the people of color in the nation2—we need fundamental shifts in our culture, policies, programs, and institutions.

To achieve those systemic changes without racial disparities will require a well-capitalized movement for equity that is aligned around a common set of values and desired results.

PolicyLink has teamed up with The Bridgespan Group to analyze the state of philanthropic funding for racial equity work; our focus in this piece is on large-dollar donors (inclusive of both institutional philanthropy and individuals). Informed by the expertise of movement leaders on the frontlines of this work, we share what we’ve learned about funders’ intentions to contribute toward racial equity, and what it will take to move from intention to enduring impact. We also offer specific ways that funders can close the gap and we frame what level of funding is needed.

This report reinforces messages by equity leaders working toward structural change like those behind the California Black Freedom Fund and the open letter from the Groundswell Fund co-signed by more than 400 funders. Although these developments, among others, are important signs of momentum, we also observe a growing resistance to racial equity in some parts of the sector and the nation that further highlights that now is a critical time to bolster the case for a robust, sustainable movement for racial equity fueled by doers and donors.