Goldman Sachs Establishes Fund for Racial Equity
$10 Million to Be Deployed to Help Address Racial and Economic Injustice
NEW YORK, June 3, 2020 – Goldman Sachs today announced it has created the Goldman Sachs Fund for Racial Equity to support the vital work of leading organizations addressing racial injustice, structural inequity and economic disparity. The fund will be launched with $10 million from Goldman Sachs Gives, a donor-advised fund that allows the firm and its current and retired senior employees to direct grants to support underserved communities around the world.
“We must stand up and support organizations dedicated to the fight for a more just and equitable society,” said David M. Solomon, Chairman and Chief Executive Officer. “To honor the legacies of George Floyd, Breonna Taylor and Ahmaud Arbery, we must all commit to help address the damage of generations of racism.”
The fund is in addition to the firm’s COVID-19 relief and recovery efforts, including its $30 million COVID-19 Relief Fund and $525 million commitment to small businesses, Goldman Sachs has deployed capital to communities in need around the world, with significant funds designated toward supporting communities of color, who continue to be disproportionately impacted by the pandemic.
Goldman Sachs employees donating to Fund for Racial Equity recipient organizations will have their contributions matched by the firm dollar for dollar, and donations $25 and under will be matched three to one.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
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