The Equality Fund
The Boston Foundation has issued a third Request for Ideas for Equality Fund grants. Responses are due Thursday October 23, 2014.
The Equality Fund, established at the Boston Foundation in 2012, is a permanent, committee-advised, Field of Interest Fund with a mission to provide ongoing support to advance the equitable treatment of Lesbian, Gay, Bi-Sexual, Transgender, and Queer (“LGBTQ”) people and their families in Greater Boston, and improve their quality of life over the long term.
The Fund, a first of its kind in Greater Boston, does this by supporting local organizations that deliver services and provide support to these communities. The Equality Fund's first twelve grants, recommended by a 12-person advisory committee representing a cross-section of the LGBTQ community, were awarded in June 2013. (Read the press release.) The next round of grants were awarded in June 2014. (Read the press release.)
The Equality Fund will be stewarded by the Boston Foundation, but its grantmaking priorities and growth strategies will be guided by an Equality Fund Advisory Committee including members of the community, straight allies, donors and professional advisors in law, real estate, financial planning, philanthropy and related fields.
Catherine D’Amato, President and CEO of The Greater Boston Food Bank and Scott E. Squillace, Esq., principal and founder of Squillace & Associates, P.C., an estate planning law firm, are co-chairs for the Advisory Committee. They are joined by nine other members from a variety of experience in the LGBTQ community.
The fundraising efforts of the Equality Fund will focus on building a long-term endowment - with the expectation that the size of this endowment over time could reach millions. In order to serve more immediate needs, $500,000 in seed capital is being raised to launch and support the grantmaking function for the first five years.
To ensure success of this important fund, the Foundation has pledged an inaugural amount of $250,000 as a 2:1 challenge grant. This means that for every $100,000 raised in outright gifts to the grantmaking portion of the Equality Fund, the Boston Foundation will make a grant to the endowment portion of the Fund of $50,000, for a total commitment of $250,000.
Any individual, family, or organization can contribute to the Equality Fund in a variety of ways:
- Planned Gifts – The Boston Foundation offers a full range of planned and legacy giving options. Planned gifts may be made to the Equality Fund through bequests, retirement plan and life insurance gifts. In addition, the Boston Foundation offers charitable remainder trusts, and charitable lead trusts, all of which may benefit the Equality Fund.
- Outright Contributions – The Boston Foundation can accept all types of gifts into the fund including cash, publicly traded securities, restricted stock, real estate, and more.
- Donor Advised Funds – Donors with existing Donor Advised Funds can recommend a grant to the Equality Fund at the Boston Foundation.
- Succession Plans for Existing Giving Vehicles – Donors with a private foundation or Donor Advised Fund can name the Equality Fund as the successor entity to their giving vehicle.
Download the Equality Fund brochure and call 617-338-1700 for more information.
Contribute to the Equality Fund.