The Walter & Elise Haas Fund in San Francisco has announced a $24.5 million investment in a new fund focused on closing the racial and gender wealth gap and promoting long-term nonprofit well-being. 

The Endeavor Fund aims to promote systemic change while championing quality jobs in the nonprofit sector. To that end, it will award seven-year grants of $3.5 million each to seven Bay Area organizations: the East Bay Alliance for a Sustainable Economy, East Bay Community Law Center, La Cocina, Oakland Kids First, Oakland Promise, Young Women’s Freedom Center, and Youth Organize! California. The recipients all have leadership teams composed of Black, Indigenous, and people of color, with staff who mirror the communities of women, youth, workers, and first-time entrepreneurs that they serve.

“We strongly believe that this shift in practice will drive significant change and promote nonprofit well-being,” said Pui Ling Tam, who leads the Walter & Elise Haas Fund's economic well-being program. “We recognize that nonprofits are often constrained by the restricted scope of their funding and are urged to focus on immediate crises at the expense of implementing meaningful, purpose-driven actions. The Endeavor Fund seeks to break from this traditional mold by providing comprehensive support to seven nonprofits that lead the way in promoting community well-being. Our goal is to catalyze a shift in philanthropic practices toward a more holistic approach that prioritizes the well-being of nonprofit employees and promotes systemic change.” 

(Photo credit: Getty Images/Fizkes)