White supremacy is described as a pandemic worse than COVID-19, affecting society for at least 500 years. Indigenous communities face severe hardships due to COVID-19, including high death rates and economic devastation. Philanthropic reactions vary, with some organizations providing necessary support, while others withdraw from aiding communities of color to protect their finances. Despite public commitments to address racial disparities, many foundations do not follow through effectively. Bill Clinton's emphasis on community development financial institutions highlights the need to tackle the inequalities faced by marginalized populations under economic stress from the pandemic.
White supremacy is a pandemic. In this moment in time, the shared global narrative centers around COVID-19. But white supremacy is a more pernicious virus, permeating every strata of human life for at least the last 500 years.
Philanthropy has had two primary responses-either leaning in to provide relief and real-time solutions-or an even greater distancing from Black, Brown, and Indigenous communities and organizations to protect their own 'at-risk' endowments and prestige.
The distancing occurs even as foundations hide behind admirable organizational mission statements aimed at reducing racial wealth disparities and building inclusive economies.
Former President Bill Clinton amplified the importance of community development financial institutions (CDFIs) to 'address the inequalities facing Black, Latinx, and Native Americans, and other historically underserved groups who have borne the brunt of both health and economic consequences of COVID-19.'
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