By: DEANNA JAMES, PRESIDENT & CHIEF EXECUTIVE OFFICER
(TEL) 340.773.9898, (EMAIL) staff@STXFOUNDATION.ORG
FOR IMMEDIATE RELEASE: OCTOBER 29, 2020
The recently launched Momentum Fund is exemplifying a model of philanthropy that unapologetically centers racial equity and explicitly prioritizes the needs of Black, Indigenous and People of Color (BIPOC) communities as part of our national recovery from the COVID-19
Washington, D.C. – St. Croix Foundation for Community Development announced today that it has been awarded a $65,000 grant from the newly-formed Momentum Fund to advance its COVID-19 relief work. The grant will support nonprofit organizations serving communities of color, low-income populations, and other groups disproportionately impacted by the pandemic. As one of 129 grants totaling $8.5 million that was awarded by the Momentum Fund to 501(c)(3) organizations around the country, St. Croix Foundation’s grant will be regranted, providing direct support to St. Croix-based nonprofits.
Launched in May 2020 with a vision of ushering in a new model of philanthropic giving, The Momentum Fund unapologetically centers racial equity and explicitly prioritizes the needs of Black, Indigenous, and People of Color (BIPOC) communities. The National Fund is managed by United Philanthropy Forum.
Through the Momentum Fund’s award, St. Croix Foundation will open an invitation-only grant cycle through its CARE Fund to award up to $5000 in capacity-building grants to local nonprofits serving populations who have been impacted by Covid-19. Organizations eligible to apply include those active in the Foundation’s Nonprofit Consortium, a 25-member coalition of local nonprofits serving the community in the areas of health care, youth and education, and environmental preservation (built and natural), and arts and culture. NPC members will be invited to submit a proposal beginning November 2, 2020. Applications are due by November 9, 2020 and awards will be announced on November 16, 2020.
Due to the risks surrounding Covid-19 and the annual threat of hurricanes, in June St. Croix Foundation relaunched its CARE Fund as a permanent fund to support immediate and long term needs relating to mitigating risk from crises while nurturing community resilience. The CARE Fund’s priority areas include: (1) Open Door Operating Support for Essential Nonprofits, (2) Programmatic Support for Frontline Responders, (3) Data Collection for Strategic Recovery, and (4) Support for Community Resiliency and Systems Innovations. In this phase of grantmaking, the Foundation will be focusing on grants to support priorities #1 and #2 to ensure local nonprofits remain operationally strong enough to deliver services to residents in need.
Deanna James, President and CEO of St. Croix Foundation, stated, “Today, despite the dire circumstances facing our Territory, indeed the world, Philanthropy is being afforded an unparalleled opportunity to build innovative global models for isolated, rural communities. Our priority at the Foundation is to fortify and inoculate vulnerable populations by ensuring that those social impact organizations serving on the front lines are sturdy and resilient.” To date, the CARE Fund, established in 2017 immediately following Hurricanes Irma and Maria, has invested $1.8 million into the Territory, providing direct support to front-line relief efforts as well as holistic, long-term recovery strategies.
“We are witnessing a historic and unprecedented level of suffering and need that must be addressed before this nation falls even further into a state of absolute humanitarian crisis,” said Amanda Misiko Andere, CEO of Funders Together to End Homelessness and Chair of the Momentum Fund Advisory Board. “It is essential that the philanthropic sector continues to dedicate itself to this work, which includes addressing the devastating and deadly human health, economic, and social impacts that are befalling millions of people of color and vulnerable families across the nation every day.”
To view a complete list of Momentum Fund grantees, visit www.momentumfund.org. For more information on the CARE Funds 2020 Open Door Grant opportunity, please contact staff@stxfoundation.org.
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ABOUT ST. CROIX FOUNDATION
Established in 1990, the Foundation has served as a conduit for over 42 million dollars in funding for community-based projects throughout the Virgin Islands. With an incomparable track record of successful community development initiatives and national recognition for its work in education reform and small business development, the Foundation has also received international acknowledgment for its community revitalization initiatives and, today, continues directing its focus on energy independence, workforce development, education, youth and families, and of course, the broad-based support of nonprofits, including fiscal sponsorship, grantmaking, and the Nonprofit Consortium.