One Year Later, Nike Breaks Down $140M USD Investment in America's Black Community
As well as detailing its future plans.
Around one year ago, Nike Inc. pledged to invest a total sum of $140 million USD in America’s Black community, in a joint commitment with Jordan Brand and Converse. The footwear giant has now released a breakdown of its investment so far, as well as its future plans.
At the time of the initial announcement on June 5 2020, an official statement from Nike Inc. President and CEO John Donahoe explained that, “the Nike Inc. family can always do more but will never stop striving to role model how a diverse company acts. We will continue our focus on being more representative of our consumers while doing our part in the communities we serve.”
The first portion of the investment would see a $40 million USD contribution on behalf of Nike, Jordan Brand and Converse over a four year period, with a focus on economic empowerment, education innovation as well as social and racial inequality. The remaining $100 million USD would come from Jordan Brand and Michael Jordan, supporting organizations dedicated to social justice, economic justice, education and awareness.
Nike Inc. is making good progress on its promises, having already invested $1 million USD in each of the NAACP empowerment programs, NAACP Legal Defense and Educational, Black Girls Code, Goalsetter and National Urban League. The company has also dedicated $5 million USD to Education and Awareness Grants to the Smithsonian Institution’s National Museum of African American History & Culture, Morehouse College and the Ida B. Wells Society for Investigative Reporting.
Additional support has seen the trio award $500,000 USD to Black Girl Ventures, alongside a further $2.75 million USD to 37 organizations across New York City, Portland, Los Angeles, Memphis, Boston, St. Louis and Chicago, with the goal of fuelling economic empowerment, education and social justice. Nike Inc. plans to continue its investment in the Black community over the next decade, and shows no signs of faltering on their commitment.
To learn more about its promises and plans, head to Nike’s website.