Foot Locker is on a mission to advance health, wealth, and upward mobility within Black, Indigenous, and people of color (BIPOC) communities.
The Foot Locker Foundation has teamed up with the Local Initiatives Support Corporation (LISC) to fund nonprofit community organizations empowering youth in BIPOC neighborhoods, according to a press release. The funding will come in the form of grants and will focus on continuing the athletic wear company’s mission to provide economic opportunity and racial equity for all.
A statement from Richard Johnson, chairman and CEO of Foot Locker:
“Creating a more equitable future begins with meaningful investments at the community level. For too long, community organizations led by people of color and the youth they serve have been underinvested in and overlooked. Through LEED and the Community Empowerment Program, we are providing local nonprofits the tools and resources they need to expand their impact. These organizations have a deep connection to the communities they serve and understand the issues they face. With this support, these local groups can advance opportunities for youth in their communities and build a stronger future.”
Eligible organizations can receive grant funding that ranges from $25,000 to $100,000 and will be used to support programs including career development, civic engagement, and mentorships.
Funded programs that range from construction training for young adults to after-school programming for middle school kids and more will also be supported through the grants.
Not only will the grants address funding, but they are also a response to the gap in philanthropy received by BIPOC-led organizations. A 2020 study conducted by The Bridgespan Group and Echoing Green revealed that Black-led nonprofits had unrestricted net assets that were significantly lower than those led by white-led groups. The result of this is that those BIPOC groups have a much more difficult time operating their organizations thus preventing them from growing their impact.