Valueendowment of $199,476,227
The Black-led Philanthropic Endowment Fund seeks to create a sustainable source of funding for Black-led, Black-focused and Black-serving non-profit organizations and registered charities. Through it, the Government of Canada will provide 1 national Black-led and Black-serving recipient organization with an endowment of $199,476,227.
Your organization must:
- be located in Canada
- be a not-for-profit organization or registered charity
- indicate that it is both:
- Black-led: a minimum of 2/3 of the leadership positions, across all levels of your organization’s management and governance, are held by people who self-identify as Black, and
- Black-serving: An organization for whom Black communities are an important or the main beneficiary group
- have identified as a partner 1 or more investment advisor(s) and/or portfolio management firm(s)
- have identified as a partner, for a period of 3 years or more, an allied public foundation to provide capacity supports
- have proof of a Canada Revenue Agency (CRA) registration number
- organizations must have a Canada Revenue Agency business or registration number or proof of incorporation or registration. Organizations don’t have to be registered charities when they apply. Organizations must register as a charity with the Canada Revenue Agency within their first 3 years of their project
Eligible organizations must apply for the maximum total budget of $199,476,227 and a minimum duration of 10 years. At least $190,000,000 would take the form of an endowment.
The recipient organization would be able to access up to $9,476,227 of the total budget. This amount would support first-year operating costs and early granting activities while the endowment gains maturity.
The endowment is restricted to a period of 10 years. At the end of the 10 year period, the restrictions are reviewed and may either be maintained, amended or removed.