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In this second session of the Foundations of Racial Equity Series, we explore racial capitalism, which describes the current economic system of extracting social and economic value from people of color. Racial capitalism is based on the theft, exclusion and exploitation of the land, labor, and capital of people of color. Philanthropy—as a social, political, and economic strategy of society’s wealthiest people, mostly white men, and institutions that “do good” while moving wealth without tax exposure— upholds racial capitalism.

As foundations put the finishing touches on their 2024 grantmaking portfolios, nonprofit organizations at the forefront of the movement for social justice are also planning their 2024 strategies to build power, disrupt the status quo, transform narratives, and secure more equitable outcomes for their communities – but will they be funded to put those plans into action?

The Asian Pacific Islander (API) community is gravely impacted by both the criminal justice and immigration systems, yet we don’t hear enough about the challenges and needs of this population. The API prisoner population grew by 250% in the 1990s and API individuals incarcerated in California received life sentences at double the rate of the overall state prison population.

Since the start of the pandemic, we have observed several transitions among foundation CEOs. These transitions have come about in a number of different ways. A significant number of CEOs retired from their positions (and a few have been dragged back into the fold). Some transitions have occurred because of new (or renewed) foundation missions which necessitated changes in organizational structure. And others have come about due to the natural evolution of careers, interests, and opportunities. But whatever the case, understanding what these transitions are like for the leaders— current and former—is instructive to both the field and the larger community.

As we mark another Black History Month and celebrate Black futures, there is an urgency for us to address the existing divisions in our country and create solutions that move us closer towards our vision of a strong, inclusive, multiracial democracy with Black communities at the center. Some of the barriers we continue to see in communities across the nation include attacks on voting rights, biased immigration policies, blatant displays of white supremacy and white nationalism, and a decline inequitable economic opportunities.