Opinion: Rethinking the role of nonprofits in fight for racial and economic justice

For more than two years now, the COVID-19 pandemic has devastated New York State. While it has touched us all in different ways, its disproportionate impact on communities of color has exposed deep-rooted inequities within our social, political, and economic systems that require urgent attention and reforms. Now, as we have always done, our robust nonprofit community will need to come together to do our part in helping Black, indigenous and people of color (BIPOC) communities and small businesses recover.

According to areport by the House Small Business Committee, Black business ownership dropped more than 40% between February and April of 2020 during the pandemic – the largest of any racial group. Additionally,only 29% of Black-owned businesses successfully received federal relief through the Paycheck Protection Program, compared to 60% of white-owned businesses.

We have all seen the realities of these disparities firsthand. That’s why we need to build a nonprofit ecosystem in New York that is proudly committed to racial equity – one where we all make it a priority to proactively examine and identify greater opportunities for us to make it as employers and business leaders in the neighborhoods we serve.

Opinion: Rethinking the role of nonprofits in fight for racial and economic justice

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