Affinity Funds
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Affinity funds offer an efficient way to support a specific group of people and the nonprofits that aid them by leveraging contributions through collective giving and committee-advised grantmaking. This model allows contributions of all sizes to amplify impact by pooling them into one investment fund.
Historically, philanthropy has not adequately or equitably invested in nonprofit organizations led by and serving the LGBTQ+, Latinx, and Black communities. To better invest in those communities, expand those who see themselves as philanthropists and to ensure funds are guided by community, the Cleveland Foundation has launched the LGBTQ+ Opportunity Fund and has plans for Latinx and Black affinity funds. Each fund has been endowed by the foundation with $3 million.
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Advisory Committees
Cleveland Foundation affinity fund committees are comprised of at least five members of that community and its allies. Foundation staff are assigned to support the affinity fund committees.
Committee responsibilities include:
Providing thoughtful guidance leveraging the Cleveland Foundation’s expertise
Review grant strategy and applications
Support fundraising efforts
Advocate on behalf of the fund and its priorities
Grantmaking
Each affinity fund makes grants on an annual basis, has its own grantmaking priorities and, in some cases, its own application qualifications. Grantmaking is determined by the committee in partnership with Cleveland Foundation staff.
LGBTQ+ Opportunity Fund
The LGBTQ+ Opportunity Fund is an affinity fund launched in August 2024 with a $3 million endowment from the Cleveland Foundation that will grow for decades with community support. The fund’s mission is to empower LGBTQ+ communities by leveraging philanthropy to advance justice and equity.
Focusing on local partners, the LGBTQ+ Opportunity Fund will raise and grant resources for Greater Cleveland organizations serving and uplifting the LGBTQ+ community.
Frequently Asked Questions
Who can donate to the fund?
Anyone can make a gift to any affinity fund at any time. There is no giving minimum and donations are pooled.
How much money will affinity funds grant to community partners?
The budget for each fund will align with the Cleveland Foundation’s five percent spending policy. The larger the fund, the larger the grantmaking budget will be.
Who is eligible to serve on the advisory committees?
Members will serve three-year terms, renewable once. Committee members should be allies or members of the community that the affinity fund aims to serve and be residents of the Cleveland Foundation’s geographic footprint. Members will serve without compensation and should not be elected officials.
How will affinity funds grow?
Donations will be invested with the Cleveland Foundation to ensure growth of the fund over time by investing dollars in one of many pools. Affinity funds will be invested in one of the foundation’s socially responsible pools that focuses on equity by excluding investment areas that do not align with Cleveland Foundation values.