Within the past two years, President Obama’s initiative to help young men of color advance in modern American society through mentorship and addressing long-existing opportunity gaps among men of color has grown to over a $1 billion investment.
Two years have passed since the president signed a Presidential Memorandum in 2014 establishing the My Brother’s Keeper Task Force, a coordinated Federal effort to address persistent opportunity gaps faced by boys and young men of color and ensure that all young people can reach their full potential.
In response to the president’s call to action, nearly 250 communities in all 50 states have accepted the president’s My Brother’s Keeper Community Challenge; more than $600 million in private sector and philanthropic grants and in-kind resources and $1 billion in low-interest financing have been committed in alignment with MBK. New federal policy initiatives, grant programs, and guidance are being implemented to ensure that every child has a clear pathway to success from cradle to college and career, states the MBK Task Force.
During the 2016 White House Science Fair, more than 100 different organizations announced new, independent commitments to expand opportunities for students. Opportunity Finance Network has invested more than $470 million in financing for deals impacting youth of color.
In May 2015, a group of private-sector leaders joined together to launch the My Brother’s Keeper Alliance (MBKA), a nonprofit that supports boys and young men of color. The founding board of directors collectively committed $80 million in financial donations to support the organization’s mission.