Philanthropy pours more money into advancing Latino wealth

By KAY DERVISHI of The Chronicle of Philanthropy
Chronicle of Philanthropy

Juan Hernandez III leads Creser Capital Fund, which lends to people traditional banks often are reluctant to help. The growth his organization has experienced is the result of a growing effort by private foundations and nonprofit organizations like Latino Community Foundation and Hispanics in Philanthropy to advance economic growth for Latinos in the United States. Foundations have committed nearly half a billion toward economic development over the course of seven years, according to data compiled by Candid and Hispanics in Philanthropy. And such giving seems to be on an upward trajectory in the wake of both COVID and the racial reckoning, which revealed that Latinos have been neglected by financial institutions and government.