The Mayor’s Racial Equity Initiative has surpassed its private sector fundraising goal of $150 million, the city of Charlotte said Thursday.
Recent corporate donations from Honeywell International Inc., Albemarle Corporation, Bloomberg Philanthropies and anonymous contributors pushed the city past its goal.
The private sector donations have reached more than $157 million. Honeywell contributed $5 million and Albemarle committed $1.5 million.
“We’re proud to join Mayor Vi Lyles and community leaders to support greater equity and economic mobility in the Charlotte area,” said Kent Masters, Albemarle's CEO.
With the new gifts, the Mayor’s Racial Equity Initiative has now raised $240 million of the $250 million total public-private goal. That total includes additional public-sector grants that are pending.
Mayor Vi Lyles launched the program in November 2021 to help Charlotte deal with persistent shortfalls in racial equity, social justice, economic opportunity and upward mobility. The goal is to combine public and private money to create a more significant impact.
“There has undoubtedly been a tremendous amount of financial support in the inaugural year of the MREI and with money allocated to all four Priority Focus Areas, I couldn’t be more grateful,” Lyles said in a statement.
The funds raised will address racial inequities across Charlotte with money to support Johnson C. Smith University, aiding the digital divide through the Center for Digital Equity at Queens University of Charlotte, investments in the “Corridors of Opportunity” underserved neighborhoods and more job training and other employment services.
For more information about the Mayor’s Racial Equity Initiative and how funds are used, visit EquityCLT.org.
Major support for WFAE's Race & Equity Team comes from Novant Health and Wells Fargo.
