Soros Foundation Pledges $220 Million Toward Racial Equality

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Heritage Foundation

The Open Society Foundations, the philanthropic group founded by George Soros, announced Monday that it would pledge $220 million toward initiatives focusing on racial equality in the United States.

The investment will transform the efforts of political and civil rights groups across the country and comes as protests continue nationwide over the death of George Floyd while in the custody of Minneapolis police, The New York Times reported.

Of the $220 million, $150 million is allocated for groups “that helped to create and now sustain the momentum towards racial equality,” according to a press release from the Open Society Foundations. These groups include the Black Voters Matter Fund, Repairers of the Breach, and political organizations like the Equal Justice Initiative. The money will be given out in five-year grants.

The remaining $70 million will be given as local grants to groups supporting changes to policing and criminal justice, according to The New York Times. The money will also be used to promote civic engagement across communities and political engagement from younger voters.