U.S. companies last year pledged to spend billions of dollars to help solve the country’s longstanding racial inequities. But more than a year later, it’s nearly impossible to know where all of that money has gone and exactly who benefited from it.
A year after Floyd’s death, most of the money had gone to either “unknown” or “multiple” recipients, according to Candid’s analysis, meaning that the company announced it was donating money toward racial equity, but did not say who received the funding; or that the company mentioned multiple recipients, but didn’t say how much each group received.
— Anna Koob, director of research standards at Candid, and Adia Colar, Candid’s communications and outreach manager That action took many forms. Many companies vowed to make internal changes such as hiring more Black employees, appointing more Black board members, or doing more business with Black-owned suppliers. This story examines promises companies made to address racial inequity by donating money to nonprofits or to small businesses.
Timing, recipients and exact amounts can be unclear Gleaning details on those monetary pledges takes detective work. Some companies put the information in press releases; others in annual corporate social responsibility reports. Others only provided specific information on their pledges in response to MarketWatch inquiries.
What three major companies pledged, and what they publicly revealedAmazon Amazon publicly listed the names of 12 nonprofits that received a total of $27 million donated by both Amazon and its employees, but a spokeswoman said she couldn’t share the specific dollar amounts each group received or details about what the groups did with the money.
Facebook also donated $10 million to 36 nonprofits focused on racial inequity in 2020, and publicly announced three of the groups that received money. The company could not share the names of the other recipients because it did not have permission from the groups to do so, a spokeswoman said, but she confirmed that each group received $277,777.77.
Roderica James and Francina James, sisters who co-own a Detroit luxury inn called The Cochrane House, received a 2020 grant from PayPal that saved their business from permanently closing, they said. While the sisters said that big companies should be held accountable for their racial justice pledges, they preferred not to reveal the exact amount their business received from PayPal.
Race card money? I would like some
I also think about all that money at the start of the pandemic that went to various fundraisers. Where did all that money go Who did it help?
These Pertinent Mismanagement Issues Could Be Addressed With Work Ethics Of Republican President Mark Patrick Seymour
Nowhere and No One, not hard to figure that out, it's called propaganda.
Yep and OJ’s lookin for the real killers 👏🏽😅
Just like the Red Cross donations for the earthquake in Haiti. Billions and not one house built. It's all a sham.
nice