Asian American Foundation raises $1bn for AAPI communities
A FOUNDATION started by notable Asian American business leaders has announced that it has raised over $1bn to support Asian American and Pacific Islander (AAPI) communities.
The Asian American Foundation (TAAF) announced on March 20 that just two weeks after launching its efforts to raise funds, it managed to collect nearly $1.1bn to support AAPI communities. ‘This builds upon an initial commitment from the TAAF board of $125m announced on May 3, which was already the largest philanthropic commitment in history fully focused on supporting Asian Americans and Pacific Islanders,’ the foundation said.
TAAF has been working with foundations, corporate partners, and individuals to commit even more resources through TAAF’s ‘AAPI Giving Challenge’- a five year commitment to bringing resources to AAPI organizations and causes.
‘TAAF was founded to close critical gaps of support for Asian Americans and Pacific Islanders and end the longstanding underinvestment in our communities. Today’s historic announcement should send a clear signal to the 23 million AAPIs living in this country that TAAF and our AAPI Giving Challenge partners are here to upend the status quo in favor of a better, brighter future for AAPI communities,’said Sonal Shah, President of TAAF.
‘The AAPI Giving Challenge was created to invite other funders, leaders, and philanthropists to the table to help TAAF advance our mission, and we have been overwhelmed by the outpouring of support we’ve received in such a short period of time. It’s amazing to know that we are not alone in wanting to help lift up AAPI communities. In fact, there’s a long list of organizations and people who are joining us in saying enough is enough — the time for change is now.’
Earlier, TAAF’s representatives met with White House Public Engagement Director Cedric Richmond, Domestic Policy Advisor Susan Rice, and Deputy Assistant to the President and AAPI Senior Liaison Erika Moritsugu. President Biden and Vice President Harris dropped by the meeting to express their support for TAAF and solidarity with the AAPI community.