Last week I wrote an article on Bill Cummings, the Boston billionaire who has promised to give away his fortune.
The article proved very popular with readers, and I even received a message from Bill himself. People love to read good news stories, and it seems that good news continues in the city of Boston.
The Boston-based Barr Foundation announced this week that they would commit up to $20 million this year to racial wealth equity in Boston.
Let's take a look at the Foundation and the grants they have already started making.
The Boston-based Barr Foundation
The Barr Foundation was founded in 1997 by Amos Hostetter Junior and his wife, Barbara. Amos is yet another Boston billionaire who has promised to give away his fortune.
Each year the foundation donates tens of millions of dollars to support the arts and education and fight climate change. Over the last 20 years, the Barr Foundation has donated more than $1 billion since 1999, mainly to projects across Boston.
The $20 million commitment
The new commitment was announced by Jim Canales, President of the Barr Foundation. In a press release, he stated that Barr would invest between $15 and $ 20 million in 2022, focusing on three key areas.
- Supporting leaders and organizations advancing racial wealth equity in the Greater Boston region
- Deepening and broadening research and evidence about the nature of the racial wealth gap and prospective solutions
- Exploring the role of narrative efforts to expand understanding of multiple perspectives and support space for community dialogue
In line with this announcement, the Foundation announced six grants they had awarded totaling $6.75 million.
- $1.5 million to the Black Economic Council of Massachusetts
- $1 million to the Boston Impact Initiative Fund
- $750,000 to the Foundation for Business Equity
- $750,000 to Lawyers for Civil Rights
- $1 million to King Boston
- and $1 million to Visible Hands
Readers, what do you think of this announcement and the charitable efforts of Boston residents like Amos Hostetter Junior and Bill Cummings?
What organizations in Boston would you like to receive part of the $20 million grant commitment?
Please leave your comments below.
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