The newly formed Asian American Foundation will invest in three key areas: primarily funding: anti-hate programs, education and data, and research.
Prominent Asian American business leaders on Monday launched a 250 million initiative to support a variety of causes in Asian American and Pacific islands, promising to build a national infrastructure for communities facing growing numbers of ethnic attacks.
The Asian American Foundation will invest its initial funds – described by the organizers as an all-time philanthropic effort to support the API community – in three key areas: anti-hate programs, education and data, and research.
The board of the foundation, which has pledged 125 125 million over five years, is chaired by Lee Lu, founder of Hazel Fund’s Himalayan Capital, and includes Jerry Young, co-founder of Yahoo, and Joseph Sosai, co-founder of Alibaba Group Holdings. Among other executives.
According to the foundation, companies such as Coca-Cola Co, Walmart Inc., Citigroup Inc., Amazon.com Inc., UBS Group AG and the National Basketball Basketball Corporation have made another $ 125 million contributions.
Former Presidents Barack Obama, George W. Bush and Bill Clinton will be present at an online launch event on Tuesday.
The organization fills in the gaps that have long limited API community organizations, with Asian Americans representing about six percent of the U.S. population yet receiving less than 0.5 percent of the charitable foundation.
This effort reinforces the rise of Asian Americans as a political and cultural force, especially after a sort of heinous crime against Asians last year.
The 23 million-strong community is one of the country’s fastest-growing population groups and has seen a huge increase in voter turnout in last year’s presidential election.
Among the eight people killed in a mass shooting in the Atlanta-region in March were six women of Asian descent, including a more gavlized national lawyer.
Joseph Baye, vice president of private equity firm KKR & Co., on the company’s board; Peng Zhao, CEO of market maker Citidel Security; Shayla Lirio Marcelo, founder of Kayla.com; And Jonathan Greenblatt, CEO of the Anti-Defamation League
Sonal Shah, a former Obama administration official, will serve as president of the foundation and hold board seats.
This group will support organizations that deal with hatred; Help create school curricula that reflect the historical contributions of the API community in the United States; Money efforts in art, film and media to ensure that the Asian American experience includes; And invest in data-driven research to improve policy making and advocacy.
The foundation has already released several grants, including ড 1 million, to support the work of Stop API Hate, which began compiling a database of attacks last year. Experts say federal efforts to report heinous crimes are suffering from low statistics and inconsistent standards.
In an interview, Shah said the foundation would prevent “model minority myths” because Asian Americans are successful and do not need their help. He mentioned that only 1 of the US corporate officers. Percent percent are of Asian descent, and many Asian Americans face inequality, poverty, and marginalization.
“We want our communities to be seen,” Shah said. “We want to make sure they have a voice.”
The foundation has formed an advisory board of eminent personalities from AAPI, who will help promote the work, including former U.S. Secretary of State Condoleezza Rice, actor Daniel Dr. Kim and CNN hosts Lisa Ling and Farid Zakaria.