More About SoFi’s Donation

On June 1st, SoFi committed to donating $1 million to organizations that empower Black and African Americans. In order to be transparent and accountable, we wanted to share a few more details on our plan for these funds, which we’ve broken down into three phases:

  1. Institutional reformation causes

  2. Donation match program for our employees

  3. Long-term investments to change the financial industry

For phase one, SoFi will donate to five organizations within the area of institutional reform. SoulFi, an employee resource group with the mission to empower Black employees, members, and allies to create a more diverse and inclusive SoFi, has chosen the following organizations: The Bail Project, Black Visions Collective, Equal Justice Initiative, Black Lives Matter, and Black Trans Advocacy Coalition Mission.

Here is a little more information on each of these organizations, as described by their respective websites:

•  The Bail Project : The Bail Project, Inc. is a non-profit organization designed to combat mass incarceration by disrupting the money bail system – one person at a time.

•  Black Visions Collective : Black Visions Collective envisions a world in which ALL Black Lives Matter. We use the guidance and brilliance of our ancestors as well as the teachings of our own experiences to pursue our commitment to dismantling systems of oppression and violence.

•  Equal Justice Initiative : Founded in 1989 by Bryan Stevenson, a widely acclaimed public interest lawyer and bestselling author of Just Mercy, Equal Justice Initiative (EJI) is a private, 501(c)(3) nonprofit organization that provides legal representation to people who have been illegally convicted, unfairly sentenced, or abused in state jails and prisons.

•  Black Lives Matter : Black Lives Matter [Global Network] Foundation, Inc. is a global organization in the US, UK, and Canada, whose mission is to eradicate white supremacy and build local power to intervene in violence inflicted on Black communities by the state and vigilantes.

•  Black Trans Advocacy Coalition Mission : The Black Trans Advocacy Coalition’s Mission is to help improve the black trans human experience by overcoming violence and injustice in the world through the power, value, and love of all people!

We’ll be sharing more over the coming weeks about the other two portions of our action plan. We acknowledge this donation is just the beginning and will continue to be transparent in our efforts. If you have any feedback, please feel free to contact us at (855) 456-SOFI (7634).

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