Rhode Island Foundation Establishes Endowment for Black Community

The Rhode Island Foundation has announced the launch of a $2.5 million endowment that will fund scholarships, youth mentoring, and other services for the state's African-American community.

The funds to establish the endowment were derived largely from the sale of Bannister House, which was founded in 1890 as a nursing facility for elderly African-American women, most of whom had worked in the households of wealthy families. Following the sale of the property in 2015, the home’s board of directors approached the leadership of the foundation's Black Philanthropy Initiative about what they might do with the proceeds from the sale, approximately $2.2 million.