Community Foundation receives $1M from Facebook

The Community Foundation for Greater Atlanta is committed to addressing the fundamental problems of inequity and lack of economic mobility that limit opportunities for residents and constrain the Atlanta region’s growth. Overall, the Atlanta region is one of the fastest growing in the nation, and yet, has some of the fastest growth of suburban poverty in the nation and the ranking of #1 for income inequality and lack of economic mobility.

Today, the Community Foundation announces it will receive $1M from Facebook, as part of its commitment to support Black businesses, creators and nonprofits. This investment will be used in the formation of a fund that seeks to disrupt and dismantle the structures and systems of racism that produce disparate outcomes for Black residents of Atlanta.

“We’re excited to work with Community Foundation for Greater Atlanta to help bring much needed funding to nonprofits that are serving and supporting the Black community in the Atlanta region,” said Marcy Scott Lynn, Director of Global Impact Partnerships at Facebook. “We’re providing funding directly to the Community Foundation for Greater Atlanta to build on their track record of supporting Black-led nonprofits and ensure that people locally are making the decisions about where these dollars are most needed and can have the most impact.”

The shape of the fund, including investment focus, will be shaped in partnership with civil, civic and community leaders. Further announcements will be made in early 2021.

“We welcome Facebook’s investment in catalyzing opportunity in Atlanta,” said Frank Fernandez, president and CEO of the Community Foundation. “The creation of a special fund to support Atlanta’s Black residents is just a first step that will help our own organization move our equity promise forward. We look forward to partnering with our community to make that promise reality.”