OVERVIEW: The Amalgamated Foundation supports democracy, racial justice, climate change mitigation and economic justice through many donor-advised and “combined impact” funds.
IP TAKE: The Amalgamated Foundation is the philanthropic giving platform facilitated by Amalgamated Bank, a union-owned bank that has aligned itself with many progressive causes since its founding in the 1920s. It has given over $1 billion in grants since 2018, when it was founded. Grantmaking is conducted through more than 100 donor-advised and “combined impact” funds, which the foundation directs. This funder does not typically accept applications for funding, “with the exception of when one of our funds has an open call for proposals.” In these cases, RFPs would be posted in the foundation’s news section. This is a must-know funder in its areas of giving.
PROFILE: The Amalgamated Foundation is the philanthropic offshoot of Amalgamated Bank. Based in New York City, Amalgamated Bank describes itself as a majority union-owned bank and prides itself on providing affordable banking to individuals and small businesses. Since its founding in the 1920s, the bank has distinguished itself by aligning with many progressive social causes, most notably the Occupy Wall Street movement. Amalgamated established its charitable foundation in 2018, and it aims to “redefine[…] philanthropy by empowering activism, harnessing generosity and leveraging technology.” The foundation is mainly supported by donations, and grantmaking stems from over 100 donor-advised and “combined impact” funds, which “bring together multiple funders for collective impact.” Its stated areas of impact are Democracy and Racial Justice, Climate Justice and the Environment and Workers’ Rights and Economic Justice. A past fund supported front-line workers during the COVID-19 crisis.
Grants for Democracy and Racial Justice
Amalgamated facilitates four major giving vehicles in the areas of democracy and racial justice.
- The Emergent Fund awards rapid response grants to grassroots organizations “facing injustice based on racial, ethnic, religious and other forms of discrimination.”
- The Amplify Fund works in partnership with the Neighborhood Funder’s Group to support equitable community development in BIPOC and low-income areas.
- The Democracy Front Line Fund was established by the Libra Foundation and is “guided by a Brain Trust of accountable movement advisors.” This effort supports Black-led organizers working in the areas of elections and criminal justice reform.
- The approach of Way to Rise involves support for “frontline” organizations that work to fulfill people’s basic needs and rights.
In addition to these funds, Amalgamated organizes the Hate Is Not Charitable campaign, which bring philanthropic leaders together to “stand against the twisted use of charitable funds to support organizations that foment hatred.”
Grants for Environment and Climate Change
Amalgamated’s climate work aims to galvanize support for efforts to meet global net zero emission goals. The foundation has two main climate funding vehicles.
- The Partnership for Carbon Accounting Financials is funded by the Hewlett Foundation, IKEA, Bloomberg Philanthropies and others and has worked to create an “accounting practice” for emissions “associated with” financial institutions, with the overarching goal of lowering emissions over time.
- The Advance Change Funds: Investing for the Planet are a group of donor-advised vehicles that make investments in fossil free endeavors.
Grants for Economic Justice and Workers Rights
The foundation’s Workers Rights and Economic Justice area reflects Amalgamated’s roots as a banking institution for “working people and their families.” Three main initiatives support economic justice.
- Labor Innovations for the 21st Century (LIFT) is a fund that supports collaborative work between community and labor organizations working for the “safety, wellness and economic security” of workers.
- The HouseUS Fund, established by the Ford Foundation and focuses on policy and advocacy for affordable housing.
- The Community Infrastructure Fund for Mutual Aid is a project of the Omidyar Foundation that provides funding for organizing, convening and knowledge sharing among mutual aid organizations.
Grants for LGBTQ
While this funder does not have a program dedicated to LGBTQ causes, it gives to related causes across most funding areas. In 2024, LGBTQ grants totaled over $6.9 million.
Grants for Immigrants and Refugees
Similarly to the above funding space, the Amalgamated Foundation does not have a program dedicated to immigrants and refugees, but supports projects and organizations that serve this demographic. Funding for this space totaled over $4.8 million in 2024.
Important Grant Details:
The Amalgamated Foundation does not make proprietary grants but oversees and facilitates grantmaking for donor advised and collaborative funds.
- While Amalgamated oversees more than 100 grantmaking vehicles, highlights of its recent work are profiled here.
- This funder does not accept unsolicited proposals for funding but indicates that opportunities would be linked to its news page.
- Reach out with inquiries via Amalgamated’s contact page. A phone number for the foundation is listed as (202) 721-8272.
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