DETROIT – The Ally Charitable Foundation will invest an additional $1.5 million over the next two years to provide grants to 16 Black-led grassroots organizations in Charlotte and Detroit, Ally’s hometown markets.
The commitment builds on the original $400,000 investment and brings the total investment in these organizations to $1.9 million since 2021.
“Many of these organizations operate on very tight budgets to provide critical, on-the-ground support, and we wanted to make the funding process simpler and more accessible,” said Mike Rizer, president of the Ally Charitable Foundation. “These unrestricted grants will put game-changing funds in the hands of organizations aiming to close the opportunity and wealth gaps in their areas. This targeted, yet agile, approach to community giving starts to meet the pressing needs of smaller organizations led by Black leaders that are often overlooked by other funders.”
Ally’s approach to grants simplifies the process and gives the organizations flexibility in how and where they use grants and the ability to make need-based decisions quickly and efficiently.
“The grant we received from Ally demonstrates their belief in City Startup Labs and the power of trust-based philanthropy,” said Henry Rock, founder and executive director at City Startup Labs in Charlotte. “Funding of this sort, for organizations our size, enables us to be more nimble – and, in this case, lets us focus on our work with the formerly incarcerated through our ReEntry Entrepreneurship Program. Now, we can experiment with new and innovative ideas such as fostering new ventures through which entrepreneurship can be a tool for social capital, innovation, meaningful work, resilience, wealth creation and restorative justice.”
The Ally Charitable Foundation has committed $3.4 million in grants in 2022 to support organizations focused on promoting economic mobility through financial education, workforce development and affordable housing initiatives. Of that, $1.5 million will be allocated to the 16 grassroots organizations over two years, including $755,000 this year.
Who gets the grants?
• Charlotte grants go to the following: Beatties Ford Road Vocational Trade Center, Inc; City Startup Labs, Inc.; CrossRoads Corporation for Affordable Housing and Community Development; For The Struggle, Inc.; Friendship Community Development Corp (My Sister’s House); Gardhouse Limited; Premier Foundation; and West Side Community Land Trust.
• Detroit grants go to the following: Caught Up; Detroit Phoenix Center;Downtown Boxing Gym Youth Program; Emerging Industries Training Institute (EITI); Ground Up (Man to Man Project, Inc.); JOURNI; Lawn Academy; Michigan College Access Network.