The Skanner News – 1803 Fund Will Invest £8 million in 11 Community Partners to Strengthen Black Portland

By The Skanner News | The Skanner News

Published: 09 December 2024

PORTLAND, Ore. –The 1803 Fund has announced it will invest £8 million in 11 community-based partners aimed at strengthening Black Portland.

Founded in 2020, the investment fund aims to grow shared prosperity, through a mix of financial investments and investments in community-based organizations. Rukaiyah Adams, CEO of 1803 Fund, wrote the fund’s original business concept after George Floyd was murdered in Minneapolis.

“These grants make real a vision that started in 2020,”  she said. “I remember thinking that I wanted to use the skills I had developed over 20 years as a professional to do something transformative,” she added.

That commitment to transformation has now materialized as millions of dollars invested in her community.

Kenneth Berry is the Board President of Albina Music Trust (AMT), one of the new 1803 Fund partners. AMT documents the legacy of Albina’s music community through archival media preservation, events, a record label and other programs that aim to amplify the soul of Portland.

“What we’re doing is basically preserving tradition, history, and life,” Berry said. “A lot of people are passing on who have contributed to Albina and we’re trying to document as much as we can.”

Calvin Walker–AMT’s Board Chair said the grant from 1803 Fund will allow AMT to do more of that work. He’s especially encouraged by the strong relationship that has already been built between Albina Music Trust and 1803 Fund.

“It feels more like a family than a funder,” Walker said. “Just the method of how (1803 Fund] is doing the work–it’s heartwarming, truthfully. And with such dignity, and promise.”

Dana Shephard—the Executive Director of Portland Housing Center (PHC), another community partner said she feels similarly connected to the team and mission at 1803 Fund. PHC helps make homeownership a reality for folks through home buyer education, one-on-one mentorship, down payment assistance and more.