The Asian American Foundation Announces First Year Success of its $1.1 Billion AAPI Giving Challenge and Commits $65M Over Five Years Through Launch of new Portfolio Strategy

TAAF rings in second anniversary with five year strategy announcement and invites partners to co-invest to create transformational impact

SAN FRANCISCO, May 3, 2023 /PRNewswire/ -- On its two-year anniversary, The Asian American Foundation (TAAF) announced today the first year success of the $1.1 billion Giving Challenge and unveiled its Portfolio Strategy, committing $65 million in direct funding over five years to bring transformational impact to the lives of AAPIs and their communities. TAAF will invite our network of partners to co-invest in this Portfolio Strategy to significantly multiply the funding and catalyze the impact. With the TAAF Board covering all of TAAF's operating costs, 100% of all funds raised via this new strategy will go directly to programming and initiatives.

When the Giving Challenge was launched in May 2021, over 130 corporations, foundations, and individual donors committed $1.1 billion in funding and in-kind resources to AAPI communities, organizations, and relevant causes over five years. In its first year, TAAF's partners exceeded their original Giving Challenge commitments, providing over $590 million toward AAPI initiatives, and $140 million in direct funding to over 100 AAPI organizations to support their programs and expand their capacity and infrastructure.

Today, TAAF is announcing a pledge of $65 million over five years and invites co-investments from new and existing partners towards each of TAAF's four core portfolios: Anti-Hate, Education, Narrative Change, and Resources & Representation. TAAF will provide nonprofits one-time grants for specific programs or multi-year grants aimed at capacity-building to deepen impact and ensure long-term sustainability. In addition, TAAF will continue to execute its own unique initiatives and events to meet the evolving needs of the community.

"Our community is galvanized to work together and find solutions for fighting anti-Asian hate, bringing education to schools and reclaiming our narratives in the media. That's why TAAF's Portfolio Strategy focuses on four core initiatives: Anti-Hate, Education, Narrative Change, and Resources & Representation," said Norman Chen, CEO of TAAF. "We are excited to commit $65 million of direct funding over five years and invite our partners to co-invest and multiply this investment to create unprecedented change. We are grateful to our inaugural nonprofit partners for the incredible work they continue to do on the frontlines. Together we are building a better future for all AAPIs."

The vision for TAAF's core initiatives are:

1. TAAF'S ANTI-HATE INITIATIVE: To root out hate and violence targeted towards AAPIs, TAAF provides critical infrastructure, resources, and support to address anti-Asian hate and violence across the country. In 2023, we will expand our Anti-Hate National Network to nine cities and in five years, the network will include over 25 cities covering over 90% of AAPIs in the country. In addition, TAAF's New York regional office will launch its NYC Anti-Hate Collaborative Network to address the unique and complex challenges facing AAPI New Yorkers.
2. TAAF'S EDUCATION INITIATIVE: To educate people that AAPI history is American history, TAAF will accelerate the teaching of AAPI studies as part of inclusive history in K-12 in all 50 states and expand AAPI studies in higher education.
3. TAAF'S NARRATIVE CHANGE INITIATIVE: To improve AAPI representation and reclaim our narratives in media, entertainment, arts, and culture, TAAF will work alongside partners to develop pipelines of future AAPI creatives and executives to elevate authentic reporting and stories that combat harmful stereotypes and celebrate AAPI narratives.
4. TAAF'S RESOURCES & REPRESENTATION INITIATIVE: To ensure greater representation and resources for all AAPIs, especially those from the most under-resourced communities, TAAF removes barriers to create access to a future where everyone can not only belong, but prosper. Beginning this year, TAAF will support greater AAPI representation on corporate boards and also additional resources for AAPI small businesses.

AAPI HERITAGE MONTH

To celebrate AAPI Heritage Month, TAAF is launching several efforts in the month of May. TAAF programming includes:

• 2023 STAATUS Index – On May 2, TAAF released the third annual STAATUS Index—"Social Tracking of Asian Americans in the U.S."—the leading national study of attitudes and stereotypes towards Asian Americans in the U.S.
• AAPI Heritage Month Summit – On May 5-6, TAAF will host its AAPI Heritage Month Summit and Celebration which will gather over 500 attendees for dynamic and interactive programming organized around our four core pillars. TAAF will also celebrate the outstanding achievements of AAPI leaders across different industries at its inaugural Heritage Heroes Awards Dinner.
• AAPI Heritage Heroes – On May 26, AAPI Heritage Heroes—the annual program hosted by TAAF, Enfranchisement, Future Friends, and Hulu—will return to spotlight inspiring AAPIs. This must-watch special will air on Hulu and ABC platforms and features an AAPI celebrity cast, storytellers, directors, and crew.
• The AAPI Database – With funding from The Walmart Foundation, TAAF is launching The AAPI Database, a comprehensive, up-to-date interactive tool for funders and the general public to discover and connect with AAPI organizations across the United States.
• Free Comic Book Day – On May 6, Free Comic Book Day, TAAF and the nonprofit organization Leading Asian Americans to Unite for Change (LAAUNCH) will preview the first volume of its upcoming three-part series Fighting To Belong: A History of Asian Americans and Pacific Islanders.

ABOUT THE ASIAN AMERICAN FOUNDATION (TAAF)

TAAF is the national organization fundamentally transforming the future for AAPIs across all sectors. Founded in 2021 in response to the rise in anti-Asian hate and to address the long-standing underinvestment in AAPI communities, TAAF funds organizations working to mobilize against hate and violence, educate communities, and reclaim our narratives. Through our grants, high-impact initiatives and events, we're creating a permanent and irrevocable sense of belonging for millions of Asian Americans and Pacific Islanders in the United States. For additional information about TAAF, please visit www.taaf.org.

Media Contact
Suzzette Martinez-Malavet
Vice President, Media
Edelman  
[email protected]

Joy Moh
Head of Communications and Marketing
TAAF
[email protected]

SOURCE The Asian American Foundation