Name
Is All Money, Good Money? The Moral Dilemma of Funding Radical Change
Date
Friday, November 12, 2021
Brandon Anderson Raby Gueye William Jackson
Description

This session will feature Black social entrepreneurs (organizers, innovators, activists) who are building ventures geared towards achieving racial equity for Black communities. 
 This session will provide insight into the journey of Black social entrepreneurs building ventures rooted in racial equity. We will discuss their journey towards entrepreneurship and highlight the significant and deep impact they have had in Black communities despite the difficult navigation, within a biased philanthropic space, they have had to do to sustain their work and impact. Through a panel discussion, they will discuss the tools and frameworks they have implemented to alleviate the tension or moral dilemma to accept or not accept funds from problematic donors.


Racism is prevalent, systemic and painful. For social entrepreneurs of color, the prevalent nature of racism drives their passion and commitment to drive systemic change. Still, racism also fuels the disparities they face when funding their work. As stated in the Barriers to Capital report, a partnership between Echoing Green and Bridgespan, Race is one of the most reliable predictors of life outcomes across several areas, including life expectancy, academic achievement, income, wealth, physical and mental health, and maternal mortality. Compared to whites, African American business owners are 5.2 times more likely to be denied a loan. The report, which utilized Echoing Green applicant data, also highlighted that in Echoing Green’s 2016 applicant pool, 56 percent of white applicants had already raised funds, while only 36 percent of Black applicants had reached that same milestone. When funds have been raised, black applicants consistently report raising less than white applicants: of those in operations one to two years, black applicants report revenue of USD 68,000 on average, compared to USD 122,000 raised by white applicants.
  
On virtually every issue, holding all other factors constant, one’s race predicts outcomes better than anything else. And racism has restrained Black economic progress for decades. With this in mind, through storytelling and framework exploration Black social entrepreneurs will share first hand insight into their navigation of funding this work