Social Change Fund United Granting Financial Empowerment to Young Black Entrepreneurs

Social Change Fund United, an organization co-founded by NBA stars Carmelo Anthony, Dwyane Wade and Chris Paul, has announced that $230,000 will be granted to two new entrepreneurship-centered programs based in Los Angeles and Chicago. The non-profit’s latest strategy will target the cities’ youth to fuel economic opportunity in minority communities. 

The new initiative signals the foundation’s shift in focus towards promoting economic empowerment in minority communities in an effort to bridge the racial wealth gap, which has continued to climb since 2010.

The foundation has partnered with the Chicago-based organization Gray Matter Experience and the Los Angeles non-profit All Star Code to create the SCFU “We Got Next” program, which aims to provide students and young adults with the knowledge and financial resources they need to launch their own businesses. Together, the initiative hopes to serve 1,000 members in Black and brown communities.  

In a second initiative due to kick off this summer, the SCFU foundation is collaborating with Stackwell Capital to kick off the SCFU Legacy initiative to provide small business grants to six minority-owned businesses based in Los Angeles. 

Along with its famous founders, Social Change Fund United has the backing of big names in the sports and entertainment industries. The foundation counts WNBA players Natasha Cloud and Candace Parker as members of its Executive Council and Creative Arts Agency executives Callie Curry and Hillary Thomas as members of its advisory board. 

Established in 2020 with the goal of advocating for minority communities through investment in organizations championing social and criminal justice reform, the foundation has awarded nearly $1 million in grants to community-focused initiatives. Its previous initiatives include SCFU Rebound and SCFU Champion, created to help people of color reenter the workforce and empower them to become actively involved in elections, respectively. 

“We’re excited to launch a new dimension of SCFU and to clarify our purpose of empowering underrepresented communities,” said SCFU Executive Director Aida Morrow. “Through this redirection, we hope to light the way for a more inclusive future to unlock potential, bring on new partners and authentically uplift the communities in which we serve.” 

Updated: April 30, 2024 — 3:02 pm