Charlotte’s racial equity pledge passes another fundraising goal — why that matters.
Mayor Vi Lyle’s racial equity pledge has raised more than $157 million in private sector fundraising, surpassing an original goal by upwards of $7 million, the city announced.
With that new total, the Mayor’s Racial Equity Initiative has now raised $240 million toward its overall public-private $250 million goal since launching in November 2021.
It’s funding that will go a long way in four areas where racial disparities exists: six neighborhoods identified in the Corridors of Opportunity program; increasing internet and technology access for all; boosting recruiting and retention for the city’s biggest employers; and enhancing Johnson C. Smith University, the city’s only historically Black college.
Recent corporation donations helped elevate the original pledge’s goal.
“What we’ve seen in these first 12 months has surpassed all of our expectations and illustrates the importance of this work and the power of public-private partnerships like this one,” Lyles said in a news release.
Honeywell International Inc. contributed $5 million and Albemarle Corporation committed $1.5 million, officials announced late last week.
The racial equity pledge is the largest investment in Charlotte history to address racial disparities through public and private money.
Foundation For the Carolinas serves as the administrator for the majority of the initiative’s private dollars, the news release said.
In October, JCSU announced it surpassed the $80 million fundraising goal that was set. School officials outlined how the funds will support improving academic programs, student scholarships and adding faculty.
As part of its commitment, Honeywell also will donate 13,000 laptops to E2D - Eliminate the Digital Divide.
“Honeywell is pleased to join this county-wide initiative to ensure every home in our headquarter city has a device and affordable Internet service to be able to engage with a digital world,” Darius Adamczyk, Honeywell’s CEO and president, said in the release.
More information about the Mayor’s Racial Equity Initiative and how funds are used is available at EquityCLT.org.
