– Aims To Support The Black Community & Drive Generational Change
– NBA Foundation to Contribute $300 Million Towards Economic
NEW YORK, Aug. 5, 2020 – In a historic move supporting the ‘Black Lives Matter’ movement, the National Basketball Association (NBA) Board of Governors in association with the National Basketball Players Association (NBPA) announced today the launch of the first- ever NBA Foundation. The NBA further announced that that it will contribute $300 million as an initial funding to power the NBA Foundation’s efforts in creating greater economic empowerment within the Black community.
It was also announced that over the next decade a total of $30 mullion annually would be collected as contributions from 30 NBA team owners to establish a new, leaguewide charitable foundation. The primary objective of this foundation would be to drive economic empowerment to the black communities through employment and career advancement. Along with this the foundation would also aim to increase their access and support for education across high school, college going and career ready youths from the black community.
The foundation would also assist national and local organizations that provide skills training, mentorship, coaching and pipeline development in all the NBA markets and communities across the United States and Canada. As a public charity, the Foundation will also aim to work strategically with marketing and media partners to develop additional programming and funding sources that deepen the NBA family’s commitment to racial equality and social justice.
The Foundation will focus in empowering the black community in their career development on three critical employment transition points: obtaining a first job, securing employment following high school or college, and career advancement once employed.
The NBA Foundation through contributions will enhance and grow the work of national and local organizations dedicated to education and employment, including through investment in youth employment and internship programs, STEM fields, job shadows and apprenticeships, development pathways outside of traditional higher education, career placement, professional mentorship, networking and specific partnerships with Historically Black Colleges and Universities.
“On behalf of the NBA Board of Governors, I am thrilled to announce the creation of the NBA Foundation,” said NBA Board of Governors Chairman and Toronto Raptors Governor Larry Tanenbaum. “All NBA team governors recognize our unique position to effect change and we are committed to supporting and empowering young Black men and women in each of our team markets as well as communities across the U.S. and Canada.”
“The creation of this foundation is an important step in developing more opportunities for the Black community,” said NBPA President Chris Paul. “I am proud of our league and our players for their commitment to this long-term fight for equality and justice, and I know we will continue to find ways to keep pushing for meaningful institutional change.”
The Foundation will work directly with all 30 teams, their affiliated charitable organizations and the NBPA to support national organizations and their local affiliates as well as local grassroots organizations to facilitate sustainable programming and create change in team markets.
“Given the resources and incredible platform of the NBA, we have the power to ideate, implement and support substantive policies that reflect the core principles of equality and justice we embrace,” said NBPA Executive Director Michele Roberts. “This Foundation will provide a framework for us to stay committed and accountable to these principles.”
“We are dedicated to using the collective resources of the 30 teams, the players and the league to drive meaningful economic opportunities for Black Americans,” said NBA Commissioner Adam Silver. “We believe that through focused programs in our team markets and nationally, together with clear and specific performance measures, we can advance our shared goals of creating substantial economic mobility within the Black community.”
The 30 NBA teams will be members of the NBA Foundation with its eight Board of Directors comprised of representatives from the NBA Board of Governors (four board seats), players and executives from the NBPA (three board seats) and the league office (one board seat). The Foundation’s board will oversee all business affairs and provide strategic direction with respect to programming and grantmaking.