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In 2020, following the murder of George Floyd, more than 80 companies across Minnesota came together to establish the Minnesota Business Coalition for Racial Equity (MBCRE).
The coalition was founded under the leadership of James Momon, a Minnesota-based equity and inclusion leader, with a shared commitment to advancing a new and courageous approach to racial equity in the business community. From its inception, the MBCRE set out to confront the deep inequities that have long shaped the lives of Black Minnesotans.
Over the past five years, the MBCRE’s members, as business leaders, have aligned to take collective action against the racial disparities embedded in our economy and institutions.
Today, the community faces a renewed moment of strain. Access to resources has grown more precarious, public commitments have winnowed and many Black-led initiatives are being asked to do more with less — precisely as the need for trusted, community-rooted responses grows more urgent.
As the MBCRE nears its sunset on Dec. 31, leaders are charged with rebuilding momentum in a significantly changed political landscape.
That’s why the remaining assets will seed the Black Economic Prosperity Endowment, stewarded by a former MBCRE partner, the Black Collective Foundation MN (the Collective). This first-of-its-kind fund in Minnesota is dedicated to advancing Black economic well-being, recognizing that Black-led organizations doing essential, community-responsive work are too often forced to operate with inadequate and unstable support.