Nexus Community Partners in St. Paul, Minnesota, has announced the launch of an eight-year, $50 million fund that will help the Black community to cultivate wealth and prosperity.

Funded by the Bush Foundation, the Open Road Fund is a wealth-building vehicle to assist descendants of the Atlantic slave trade who live in North Dakota, South Dakota, and Minnesota. The fund will award $50,000 grants to at least 800 eligible applicants in support of wealth-building projects, including housing, education, financial well-being, healing, and economic justice. There are no income caps or minimums, and Black people ages 14 and up are encouraged to apply, especially formerly incarcerated people, single parents, senior citizens, LGBTQ+ people, and those living with disabilities. While individual applicants can apply, in hopes of building long-term Black wealth and increasing community impact, group applicants are encouraged.

The fund will open for applications on June 19, also known as Juneteenth. The Open Road application will close on July 28.

“Through this $50 million Open Road Fund, Nexus has a chance to provide a return on the investment Black folks have long made to this country and create Black wealth. To us, Black wealth-building is about creating spaces and opportunities that help all Black people to thrive,” said Nexus Community Partners president and CEO Repa Mekha. “When we have access to an abundance of resources, we can cultivate healing, safety, care, and liberation on our own terms.”

(Photo credit: Getty Images/Violeta Stoimenova)