The Mayor’s Racial Equity Initiative has surpassed its private-sector fundraising objective.
The Charlotte Post reports, donations from Honeywell and Albemarle, and anonymous contributors announced last week pushed private sector giving to $157.5 million, $7.5 million better than the original goal. The initiative has raised more than $230 million in its entirety.
“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,” Mayor Vi Lyles said. “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.”
In the latest round of gifts, Albemarle committed $1.5 million, and Honeywell committed $5 million. The Mayor’s Racial Equity Initiative has now raised $240 million of the initial public-private $250 million total goal, with additional public-sector grants pending.
The funds will address racial inequities in Charlotte in four so-called Priority Focus Areas:
- Transform Johnson C. Smith University into a top-tier, career-focused historically Black campus,
- Bridge the digital divide through the work of the Center for Digital Equity at Queens University of Charlotte,
- Invest in the city’s six “Corridors of Opportunity” and
- Boost corporate commitment to advancing more people of color to leadership positions
The initiative, launched in November 2021, focuses on achieving racial equity, social justice, economic opportunity, and upward mobility through public and private partnerships.
“Albemarle is a values-driven company, and our commitment to sustainability includes how we engage and collaborate with the communities where we live and work,” Albemarle CEO Kent Masters said in a statement. “We’re proud to join Mayor Vi Lyles and community leaders to support greater equity and economic mobility in the Charlotte area.”
While surpassing the $150 million goal is an achievement worth celebration, initiative leaders stressed this is only the beginning. MREI depends on continued support from both the public and private sectors to make strides, provide opportunities and break boundaries for Charlotte residents of color.
“We are so proud to share that as part of the Digital Divide workstream, Honeywell will donate 13,000 laptops to E2D – Eliminate the Digital Divide to help close the digital divide in the Queen City,” Darius Adamczyk, Honeywell’s president and chief executive officer, said. “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. With this historic donation, the largest ever to E2D, Charlotte is closer to becoming the most digitally equitable community in the country.”
Initiative funders include corporate, philanthropic and government donors and Foundation For The Carolinas is the administrator for most of the majority of the private dollars as well as the integration point for funders across the Priority Focus Areas. Public money is maintained separately and processed through those entities for approval, oversight, and distribution. Private Funder Advisory Committees oversee approval of focus areas to approve the release of funding.
