As the nation picks up the pieces to move beyond the violent insurrection by anti-democratic domestic forces on January 6th, a growing list of corporations have begun re-considering their support for elected politicians who actively encouraged and supported the insurrection and its goal of over-turning the certified results of the national election. We applaud this action and believe there is an opportunity for corporations to go a step further and invest in strengthening and rebuilding democracy in our country.
We invite corporations of conscience to join us and commit to reinvesting in our democracy.
From coast to coast, nonprofit organizations work tirelessly to protect, preserve, and expand our democracy. They advocate for fair and equitable access for all voters, including ensuring voters can vote safely during the COVID pandemic. They provide oversight to make sure our elections are managed fairly, and all votes are counted. They encourage young people and new citizens to register to vote. And they are protecting vulnerable communities and fighting against extremists who seek to undermine our multiracial democracy and the rule of law by spreading misinformation and hate.
These nonpartisan organizations are driven by a fundamental belief that all Americans should share, that our democracy must be vigorously protected; that elections must be free, fair and open; and that we must resolve our differences not through violence and intimidation, but by civil debate and democratic process.
To support corporations that want to join this call of conscience, the Amalgamated Foundation is launching the Democracy Reinvestment Fund. The Fund will serve as a collective platform for corporations who are ready to take a bold stand at this crucial moment in our nation’s history and invest directly in strengthening a reflective democracy.
Billions of dollars currently flow from corporate interests into our political system. In 2020, for example, more than $360 million of corporate dollars went directly to candidates for the U.S. House of Representatives. The positive impact of reinvesting even a fraction of this giving into protecting and preserving our democracy could be significant. A stable, vibrant and healthy democracy will enable our communities and institutions – including our businesses – to survive and thrive.
The Democracy Reinvestment Fund builds upon the Amalgamated Foundation’s track record as a leader of conscience within the philanthropic sector, organizing funders and connecting resources to address today’s most pressing issues including democracy, racial justice, COVID relief, and climate change.
In 2019, the Foundation launched the “Hate Is Not Charitable Campaign” implementing a first of its kind hate screen for its own Donor Advised Fund program and organizing more than 100 signers representing billions of dollars in assets who committed their institutions to stand up to hate by implementing similar policies and processes.
The Democracy Reinvestment Fund will be guided by the Amalgamated Foundation’s experience and expertise that in 2020 included contributions of more than $36 million to organizations working to protect, preserve, and expand our democracy.
Today, as our nation confronts the vulnerability of our democratic institutions and the devastating impact of hate-driven polarization, we invite corporations to invest in the future of our democracy and support the Democracy Reinvestment Fund.
For more information, please contact Anna Fink: AnnaFink@AmalgamatedBank.com