Salesforce new ‘Catalyst Fund’ addresses philanthropic inequities
[Oakland, CA. August 10, 2022] – Salesforce, a company that makes cloud-based software for businesses, launched its philanthropic “Catalyst Fund” in June 2022. This fund provides capital to non-profit organizations with leaders who are underrepresented in philanthropic giving. The first round of funding collectively totaled $2 million for 20 organizations across the U.S., Australia and the United Kingdom. Kingmakers of Oakland (KOO) is gratefully included in the first round of unrestricted funding to receive a generous $100,000 grant.
The Catalyst Fund will support KOO in team building, scaling and innovation to grow efficiently while improving productivity and effectiveness. KOO services are rooted within a two-pronged framework that focuses on transforming adults at the systems level; while also ensuring African American male students are supported directly and individually, both through implementation of our six Systems Change Drivers.
“KOO leads the field of education in understanding how to most effectively transform systems, structures, culture, and conditions to support African American male students, and other students of color, to achieve their unlimited potential and innate greatness,” said KOO CEO Chris Chatmon.
Salesforce is addressing the philanthropic funding gap by stepping up for Black-led non-profit organizations through their Catalyst Fund to broaden inclusive giving. Their Catalyst Fund announcement notes Black and Latinx led organizations get 4% of philanthropic funding, though they are approximately 10% of the organizations. They also receive 76% lower unrestricted funds than their white counterparts.
“It’s important to assess who our grantees serve and what they do, but it’s equally important that their leaders reflect the communities they are serving,” stated Rebecca Ferguson, SVP of Philanthropy, in their announcement. “The Salesforce Catalyst Fund aims to empower underrepresented leaders who are closest to the issues and can guide the best approach for their communities.”
For more information about KOO, please visit our website at: KingmakersOfOakland.org.
PRESS RELEASE (pdf)
James C. Earl-Rockefeller, III