The San Diego Foundation (SDF) has announced the $2.5 million launch of the El Camino Fund, which aims to empower local Latinx leaders and strengthen economic mobility and generational wealth-building.

Through the fund, the foundation will support projects led by Latinx-serving nonprofit organizations in San Diego County, and invest in entrepreneurship, workforce training, financial literacy, and homeownership. The fund was seeded with a $2.5 million endowment and an initial grant of $250,000 from the foundation, as well as support from San Diego Gas & Electric and Wells Fargo.

Inaugural recipients include Escondido Education COMPACT, which was awarded $100,000 in support of a workforce readiness program that uses a culturally competent curriculum with trauma-informed restorative practices; Logan Heights Community Development Corp., which will receive $82,500 for the Emergent Entrepreneurship Program; and MANA de San Diego, which was awarded $25,000 in support of the Latino Upward Mobility Initiative, which assists adults in reskilling and upskilling to attain higher-paying jobs.

“San Diego is a beautiful and diverse region, but not everyone has access to the same opportunity,” said SDF manager of development Miguel Lopez. “Through the SDF El Camino Fund, we will advance the trajectory of our Latino/a neighbors, which will benefit all San Diegans and strengthen our local economy for generations.”

(Photo credit: Getty Images/fgtrade)