The London-based Lankelly Chase Foundation has announced its plan to close in the next five years. 

The foundation, which currently holds assets totaling approximately £138 million ($178 million), plans to redistribute its endowment and other resources and power and create healthy resourcing systems for social justice work. The foundation will continue collaborating with social justice leaders, including the Baobab Foundation, which will receive £8 million ($10 million) in support of its efforts to address underfunding, marginalization, and anti-Blackness.

As it develops its redistribution plan, the Lankelly Chase Foundation aims to promote mutuality and collectivism, enable resources to flow easily to communities doing social justice work, invest capital in ways that are aligned with the values and vision of communities, allow a diversity of resourcing approaches to flourish, and support the embodiment of alternative ways of living, knowing, and being in the world. The foundation also plans to honor all existing grant agreements and contracts. 

“We know not everyone will agree with this decision, and we are not saying every endowed foundation should follow our direction,” the foundation said in a statement. “However, we believe that the case for profound change is now impossible to ignore, and each of us must find our answer. This is ours.”

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