{"id":57384,"date":"2022-06-23T05:02:00","date_gmt":"2022-06-23T12:02:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=57384"},"modified":"2022-06-23T11:01:21","modified_gmt":"2022-06-23T18:01:21","slug":"salesforce-catalyst-fund-announcement","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/news\/stories\/salesforce-catalyst-fund-announcement\/","title":{"rendered":"Salesforce Launches Catalyst Fund to Scale Inclusive Philanthropy"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><em>Unrestricted grants will support 20 nonprofits led by underrepresented leaders<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>Today, Salesforce announced the launch of its Catalyst Fund, which will provide critical, unrestricted capital to nonprofits led by underrepresented leaders.&nbsp;<\/p>\n\n\n\n<p>The first round of grants, totaling $2 million, support 20 nonprofits in Australia, the United Kingdom, and the United States, that are addressing inequities in education, economic opportunity, and racial justice.<\/p>\n\n\n\n<p>\u201cIt\u2019s important to assess who our grantees serve and what they do, but it\u2019s equally important that their leaders reflect the communities they are serving,\u201d said Rebecca Ferguson, SVP of Philanthropy, Salesforce. \u201cThe Salesforce Catalyst Fund aims to empower underrepresented leaders who are closest to the issues and can guide the best approach for their communities.\u201d<\/p>\n\n\n<div class=\"wp-block-image__wrapper\">\n<figure class=\"wp-block-image size-large prevent-download\"><a href=\"#\" class=\"wp-block-image__modal-toggle\" aria-expanded=\"false\" data-modal-id=\"57538-modal\"><span class=\"screen-reader-text\">Open Image Modal<\/span><img loading=\"lazy\" decoding=\"async\" width=\"898\" height=\"557\" src=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=898\" alt=\"\" class=\"wp-image-57538\" srcset=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg 898w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=300&amp;h=186 300w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=768&amp;h=476 768w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=264&amp;h=164 264w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=500&amp;h=310 500w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=678&amp;h=421 678w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=150&amp;h=93 150w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=311&amp;h=193 311w\" sizes=\"auto, (max-width: 898px) 100vw, 898px\" \/><\/a><\/figure>\n<div id=\"57538-modal\" class=\"image-modal\" aria-hidden=\"true\" aria-labelledby=\"image-dialog-title\"><div class=\"image-modal__overlay\" tabindex=\"-1\" data-a11y-dialog-hide><\/div><div class=\"image-modal__content\" role=\"dialog\"><button class=\"image-modal__close-button\" type=\"button\" data-a11y-dialog-hide aria-label=\"Close this image dialog window\"><svg viewBox=\"0 0 26 25\" height=\"16\" width=\"16\" fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><rect x=\".626\" y=\"22.753\" width=\"32\" height=\"3\" rx=\"1.5\" transform=\"rotate(-45 .626 22.753)\"\/><rect x=\"2.747\" y=\".125\" width=\"32\" height=\"3\" rx=\"1.5\" transform=\"rotate(45 2.747 .125)\"\/><\/svg><\/button><h1 id=\"image-dialog-title\" class=\"screen-reader-text\">Image Modal<\/h1>\n<figure class=\"wp-block-image size-large prevent-download\"><img loading=\"lazy\" decoding=\"async\" width=\"898\" height=\"557\" src=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=898\" alt=\"\" class=\"wp-image-57538\" srcset=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg 898w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=300&amp;h=186 300w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=768&amp;h=476 768w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=264&amp;h=164 264w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=500&amp;h=310 500w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=678&amp;h=421 678w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=150&amp;h=93 150w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/06\/image1.jpg?w=311&amp;h=193 311w\" sizes=\"auto, (max-width: 898px) 100vw, 898px\" \/><\/figure>\n<\/div><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-salesforce-addressing-philanthropic-inequities-through-new-fund\">Salesforce addressing philanthropic inequities through new fund<\/h2>\n\n\n\n<p>As <a href=\"https:\/\/www.pewresearch.org\/social-trends\/2020\/01\/09\/trends-in-income-and-wealth-inequality\/\" target=\"_blank\" rel=\"noreferrer noopener\">income and wealth inequalities<\/a> widen, advancing access to capital for people of color and underrepresented groups is critical to closing the wealth gap. Black and Latinx nonprofit leaders receive only about <a href=\"https:\/\/www.bridgespan.org\/bridgespan\/Images\/articles\/racial-equity-and-philanthropy\/racial-equity-and-philanthropy.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">4% of philanthropic funding<\/a> in the U.S., though they make up approximately 10% of nonprofit leadership nationwide.&nbsp;<\/p>\n\n\n\n<p>This capital gap is even more pronounced when it comes to unrestricted funding \u2014 funding nonprofits can use to support operating costs and innovation. The unrestricted net assets of Black-led organizations are <a href=\"https:\/\/www.bridgespan.org\/bridgespan\/Images\/articles\/racial-equity-and-philanthropy\/racial-equity-and-philanthropy.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">76% smaller<\/a> than their white-led counterparts, ultimately contributing to the systemic underinvestment in these communities.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-catalyzing-new-solutions-with-unrestricted-funding-prompts-trust-flexibility\">Catalyzing new solutions with unrestricted funding prompts trust, flexibility<\/h2>\n\n\n\n<p>The Catalyst Fund aims to counter <a href=\"https:\/\/ssir.org\/articles\/entry\/overcoming_the_racial_bias_in_philanthropic_funding#\" target=\"_blank\" rel=\"noreferrer noopener\">systemic racial inequities in philanthropic funding<\/a> by redistributing the flow of money to traditionally underfunded groups. The fund will empower leaders closest to the issues, providing unrestricted funding to help drive new solutions and deepen their impact.&nbsp;<\/p>\n\n\n\n<p>Historically, nonprofit leaders <a href=\"https:\/\/www.tagtech.org\/news\/576408\/100-Forms-in-100-Days-campaign-saves-nonprofits-1-million-hours.htm\" target=\"_blank\" rel=\"noreferrer noopener\">spend a lot of time<\/a> chasing funding and reporting their progress back to funders. By distributing unrestricted funding to trusted organizations, Salesforce will lower these administrative burdens and empower organizations to focus on what really matters \u2014 bringing innovative solutions to communities in need.<\/p>\n\n\n\n<p>Catalyst Fund grantees are each given $100,000 to use at their discretion \u2014 a different model from traditional giving, which often requires nonprofits to demonstrate an intention to do work that aligns with the funders\u2019 priorities. Too often, this model results in a <a href=\"https:\/\/www.socialinnovationforum.org\/blog\/reflections-promise-trust-based-philanthropy\" target=\"_blank\" rel=\"noreferrer noopener\">power dynamic<\/a> where the funders steer the solutions. Salesforce recognizes that its partner organizations working directly with the issues are likely more aware of what solutions work best, and unrestricted funding allows them to take risks and pilot new ideas in the spaces they are serving.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-salesforce-donates-to-underfunded-orgs-to-support-growth\">Salesforce donates to underfunded orgs to support growth&nbsp;<strong>&nbsp;<\/strong><\/h2>\n\n\n\n<p>The first round of grantees are organizations with person of color (PoC) or underrepresented leaders that are less than 10 years old or have operating budgets of less than $2 million. Salesforce specifically focused on small nonprofits, as organizations of this size are often overlooked for funding and struggle to build the teams and resources needed to scale.<\/p>\n\n\n\n<p>The first round of grants from the Catalyst Fund will support:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.accessopportunity.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Access Opportunity<\/a><\/li><li><a href=\"https:\/\/aletofoundation.org.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Aleto Foundation<\/a><\/li><li><a href=\"https:\/\/www.americaontech.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">America on Tech<\/a><\/li><li><a href=\"https:\/\/www.alasdreams.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ayudando Latinos a So\u00f1ar (ALAS)<\/a><\/li><li><a href=\"https:\/\/www.bridgingtech.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bridging Tech<\/a><\/li><li><a href=\"https:\/\/deadlyscience.org.au\/\" target=\"_blank\" rel=\"noreferrer noopener\">DeadlyScience<\/a><\/li><li><a href=\"https:\/\/www.footballbeyondborders.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Football Beyond Borders<\/a><\/li><li><a href=\"https:\/\/www.girlforward.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">GirlForward<\/a><\/li><li><a href=\"https:\/\/www.kindwork.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">KindWork<\/a><\/li><li><a href=\"https:\/\/www.kingmakersofoakland.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Kingmakers of Oakland<\/a><\/li><li><a href=\"https:\/\/kuralabs.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Kura Labs<\/a><\/li><li><a href=\"https:\/\/www.lovchicago.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ladies of Virtue<\/a><\/li><li><a href=\"https:\/\/projectsyncere.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Project SYNCERE<\/a><\/li><li><a href=\"https:\/\/reworktraining.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Re:Work Training<\/a><\/li><li><a href=\"http:\/\/www.resilientcoders.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Resilient Coders<\/a><\/li><li><a href=\"https:\/\/www.hiddengeniusproject.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Hidden Genius Project<\/a><\/li><li><a href=\"https:\/\/www.marcylabschool.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Marcy Lab School<\/a><\/li><li><a href=\"https:\/\/oaklandreach.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Oakland REACH<\/a><\/li><li><a href=\"https:\/\/urbanedacademy.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Urban Ed Academy<\/a><\/li><li><a href=\"https:\/\/exploringtech.org\/home\" target=\"_blank\" rel=\"noreferrer noopener\">URBAN TXT: Teens Exploring Technology<\/a><\/li><\/ul>\n\n\n\n<p>\u201cWe\u2019re the only nonprofit focused on supporting the Latino farm worker community in this area so we have to think about how our work cares for the whole child in our rural community,\u201d said Belinda Hernandez-Arriaga, Executive Director &amp; Founder of <a href=\"https:\/\/www.alasdreams.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">ALAS<\/a>. \u201cSupport from the Catalyst Fund has catapulted our ability to have an educational specialist and provide critical resources and advocacy for children in our community.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-s-next-for-catalyst-fund\">What\u2019s next for Catalyst Fund?<\/h2>\n\n\n\n<p>Salesforce is constantly learning from its nonprofit partners and improving its grantmaking processes to ensure Salesforce philanthropy is inclusive and reaching the organizations that will benefit most from these funds. With round one of the Catalyst Fund underway, Salesforce will be continuing the momentum by awarding a second round of grants to 20 additional nonprofit organizations later this year.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-salesforce-works-toward-systemic-change\">Salesforce works toward systemic change<\/h2>\n\n\n\n<p>Salesforce believes creating systemic change in communities comes in part through inclusive business practices, investing resources, and empowering minority-led organizations. Philanthropy is a key pillar in this effort, and Salesforce is committed to supporting diverse leaders and organizations to drive inclusive grantmaking across its entire philanthropic portfolio.<\/p>\n\n\n\n<p><em>Learn more about <\/em><a href=\"https:\/\/www.salesforce.com\/\/company\/equality\/racial-equality-justice-taskforce\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>Salesforce\u2019s commitment to racial equality and justice<\/em><\/strong><\/a><strong><em>.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unrestricted grants will support 20 nonprofits led by underrepresented leaders Today, Salesforce announced the launch of its Catalyst Fund, which will provide critical, unrestricted capital to nonprofits led by underrepresented leaders.&nbsp; The first round of grants, totaling $2 million, support 20 nonprofits in Australia, the United Kingdom, and the United States, that are addressing inequities [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sf_subhead":"","sf_i18n_disclaimer":false,"_jetpack_memberships_contains_paid_content":false,"alternateThumbnailId":57538,"sf_product_cta_id":0,"footnotes":""},"categories":[1],"tags":[],"sf_content_type":[1722],"sf_theme":[1914],"sf_topic":[1766,1750,1733],"sf_product":[],"sf_industry":[],"sf_role":[],"sf_multimedia_asset":[],"sf_location":[1724],"sf_collection":[],"sf_visibility":[],"coauthors":[],"class_list":["post-57384","post","type-post","status-publish","format-standard","hentry","category-uncategorized","sf_content_type-news-announcements-corporate","sf_theme-business-as-a-platform-for-change","sf_topic-equality","sf_topic-philanthropy","sf_topic-stakeholder-capitalism","sf_location-amer"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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