Since 1975, The San Diego Foundation has been significantly improving the quality of life for San Diegans through donors, volunteers and visionary leaders.
The Black Community Investment Fund, co-founded by The San Diego Foundation and the Central San Diego Black Chamber of Commerce, increases racial equity and generational wealth for Black San Diegans through education, employment, entrepreneurship and housing.
Watch the video above to learn more about the innovative efforts of the Black Community Investment Fund, or read the full transcription we’ve provided below (lightly edited for clarity).
Pamela Gray Payton, Vice President, Chief Impact and Partnerships Officer, SD Foundation (00:02) – The San Diego Foundation inspires enduring philanthropy to create community solutions. So we are essentially a community foundation that works directly with philanthropists who wish to deposit money with The San Diego Foundation to either directly contribute to nonprofits in our region. Or, they come to us and ask us to help them find nonprofits to support causes that are of interest to them.
(00:27) – In 2020, The San Diego Foundation, largely in response to the social unrest that we were seeing across the country, started a program in collaboration with the Central San Diego Black Chamber of Commerce, called the Black Community Investment Fund. The Black Community Investment Fund is intended to be a resource of support to help build generational wealth within San Diego’s Black communities.
(00:52) – With this initiative, we decided to focus on four disparities based on lots of data that was collected to really understand what are the key areas that if we were to make investments could actually have the impact of improving the trajectory of lives for Black San Diegans, and really helping them build generational wealth.
(01:12) – And so the conclusion was that there were four things that we could focus on, those being education, helping with entrepreneurism, helping with workforce and job training. And then the fourth was with homeownership.
Ritha Rowe, New Home Owner (01:26) – All of the living space is upstairs… For our family, the opportunity to buy a house was life-changing. If you do what you’re supposed to do, you go to work, and you stay out of trouble. And you know, you just want to have a little piece of something to call your own. And so by getting the grant, now we have our first place.
PP (01:48) – There are fewer Blacks by percentages of the population in San Diego who own their homes than any other minority group. And so we thought that if we were to invest in a program that actually helped to increase homeownership for Black San Diegans, that would have the long term impact of helping to build and increase generational wealth in the region.
Tyshawn Cook, New Home Owner (02:10) – So this is my kitchen. When it comes to generational wealth, my thoughts have been – buy a property, buy more properties, sell or rent. You know, that’s comes from my dad, mainly. He had not too long prior to me buying this place bought a place. And well, he did it. Why can’t I do it? So I brought my little brother out here. He’s actually living with me right now. I want him to then follow in my footsteps.
PP (02:35) – Anyone who is interested in learning more about the program can contact the San Diego Foundation, which is sdfoundation.org/black-community-investment-fund.
RR (02:44) – On behalf of our entire family, I just really express gratitude. Because 2021, we had our very first Christmas in our own and that was due to people paying it forward.
For more Black History Month features, visit yurview.com/BlackHistoryMonth.