April 15th 2024.
Led by iconic basketball players Carmelo Anthony, Chris Paul, and Dwyane Wade, the Social Change Fund United (SCFU) is making a bold move by investing $230,000 into two new initiatives that aim to uplift the Black community. These three legends are not just known for their skills on the court, but also for their philanthropy and entrepreneurial endeavors. This latest effort is part of their strategic focus to economically empower marginalized communities in the United States, with a special emphasis on supporting Black youth and entrepreneurs.
The SCFU was launched in 2020 in response to the widespread racial injustices that continue to plague our nation. Since then, the fund has been dedicated to supporting organizations that advocate for communities of color. Through their partnerships with nonprofits, distribution of scholarships, and contributions to the George Floyd Memorial Foundation, the SCFU has already impacted over 130,000 individuals. In fact, they have distributed nearly $1 million in grants, with over $60,000 going towards small business owners in cities like New Orleans, Chicago, Los Angeles, and Winston-Salem, North Carolina.
With a renewed vision and determination, the SCFU is committed to playing a vital role in narrowing the racial wealth gap. They believe that by promoting entrepreneurship, leadership, and innovation among Black and brown communities, they can create a more equitable future. To that end, they have announced their plans to allocate the $230,000 investment into two initiatives: SCFU We Got Next and SCFU Legacy.
The SCFU We Got Next initiative aims to provide youth with access to resources and support that will help them develop entrepreneurial skills and become future business leaders. The fund will invest a total of $125,000 into three partners: Gray Matter Experience, AllStar Code, and Rapunzl. These organizations have a proven track record of empowering young people and equipping them with the tools they need to succeed in the business world.
Meanwhile, the SCFU Legacy initiative, in collaboration with Stackwell Capital, will provide six grants to minority-owned small businesses in Los Angeles. This program will kick off this summer with its inaugural 2024 cohort, and the SCFU will be contributing $105,000 towards this effort. Aida Morrow, the Executive Director of the SCFU, expressed her excitement about this new phase of their work, stating, "We're thrilled to launch a new dimension of SCFU and to clarify our purpose of empowering underrepresented communities. Through this redirection, we hope to pave the way for a more inclusive future, attract new partners who share our vision, and truly uplift the communities we serve."
Chris Paul, co-founder of the SCFU and current player for the Golden State Warriors, added, "Our engagement within communities of color is crucial in achieving the impact and results of our mission." His co-founders, Wade and Anthony, retired from the NBA in 2019 and 2023 respectively, but their dedication to making a positive impact in their communities remains unwavering.
Callie Curry, a member of the SCFU Advisory Board, reflected on the organization's new focus, saying, "We are proud of the progress we've made over the last three years and are confident that this next phase of our work will expand our efforts, attract new partners with a similar vision and resources, and positively impact even more lives." It's clear that the SCFU is committed to creating lasting change and building a brighter future for all.
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