The Decolonizing Wealth Project, a group focused on what it calls “reparative philanthropy,” announced last year an initiative to redirect $1 trillion in philanthropic funding over the next decade. The organization defines reparative philanthropy as “the redistribution of resources in a manner that acknowledges the extractive origins of philanthropic wealth (family or institutional) and how colonization, slavery and the forms of oppression facilitated the accumulation of wealth that philanthropy protects, grows and distributes.” According to its announcement, the project has already influenced nearly $1 billion in grantmaking.
The project’s founder and CEO, Edgar Villanueva, has worked extensively within philanthropy. He previously held positions at organizations such as the Kate B. Reynolds Charitable Trust, Marguerite Casy Foundation, and Schott Foundation for Public Education. Villanueva also serves on boards including Native Americans in Philanthropy and the Robert Wood Johnson Foundation.
Decolonizing Wealth’s philosophy is rooted in criticism of traditional philanthropic practices. The group states that global philanthropy is built on “harmful, racially biased beliefs” that limit power for people of color, particularly those from the Global South. It argues that philanthropy often centers “whiteness as the norm” and can act as a “shield for capitalism,” allowing wealthy donors to avoid addressing systemic issues behind their wealth accumulation.
Villanueva has organized discussions with major grantmakers under themes like “PhilanthropySoWhite,” involving executives from institutions such as Ford Foundation, MacArthur Foundation, Robert Wood Johnson Foundation, Nellie Mae Education Foundation, Groundswell Fund, and Stupski Foundation.
Initially fiscally sponsored by Allied Media Projects until 2023/2024 before transferring sponsorship to Amalgamated Charitable Foundation, Decolonizing Wealth operates Liberated Capital—a pooled fund described by Villanueva as a donor-advised fund but with grantmaking decisions controlled by community advisors from beneficiary populations. Villanueva criticizes traditional donor-advised funds for upholding “white supremacy.”
Since 2020, Decolonizing Wealth reports distributing over $30 million in grants to Black- and Indigenous-led groups and other under-resourced organizations. Three-quarters of recipients are led by minority women; more than two-thirds have budgets under $1 million. Grants support programs related to land rematriation for Native Americans, culturally responsive mental health care for youth facing systemic challenges, indigenous climate solutions, land conservation efforts, and advocacy for racial reparations.
Many grantees are activist organizations with progressive agendas—including Action Center on Race & the Economy; Black Lives Matter Minnesota; Movement for Black Lives; NDN Collective; IllumiNative; SisterSong; Sogorea Te’ Land Trust; among others.
Major private foundations have provided significant financial support through fiscal sponsors or directly to Decolonizing Wealth Project:
– The California Endowment contributed about $5.88 million between 2022–2024.
– MacArthur Foundation granted $3.75 million in 2021.
– Satterberg Foundation gave $3.14 million from 2019–2024.
– Chicago Community Trust donated $3 million in 2021.
– Ford Foundation provided $2.7 million from 2019–2024.
– Pivotal Philanthropies Foundation gave $2 million in 2022.
– Robert Wood Johnson Foundation contributed $1.78 million between 2023–2024.
– Skoll Foundation granted $1.5 million from 2022–2024.
– Omidyar Network Fund gave approximately $1.175 million between 2020–2024.
– Weingart Foundation contributed $1 million during 2023–24.
– Magic Cabinet/Ken Birdwell Foundation provided another $1 million during this period.
Excluding donor-advised fund providers like Chicago Community Trust—which manages assets totaling billions but only directs a small share locally—the combined net assets of these supporting foundations approached nearly $49.5 billion as of 2024.
Additional six-figure donations have come from sources such as California Wellness Foundation, Christensen Fund, Working Families Power, NoVo Foundation, Kresge Foundation and MacKenzie Scott’s Yield Giving.
Some funders designated contributions specifically for Liberated Capital rather than Decolonizing Wealth itself—for example: Democracy Fund ($500k via Allied Media Projects) or Bafrayung Fund ($1M via Social Good Fund). In 2024 Amalgamated Charitable Foundation reported making grants worth over $4M to Decolonizing Wealth Project Inc., though details remain unclear regarding whether this reflects fiscal sponsorship or another arrangement.
Villanueva contends: “settlers and their descendants must grieve the lives of their ancestors…the culture that made their acts of domination…acceptable.” He further asserts: “poverty is the product of public policy and theft…facilitated by white supremacy,” claiming philanthropic dollars have been “twice stolen: once through colonial-style exploitation…and…the second time through tax evasion.” While he does not consider philanthropy irredeemable—stating he “empathize[s]” with skepticism about its potential—he questions whether existing structures can be fixed or trusted given their origins.
These perspectives raise questions about how large foundations view their own legacies—and how public incentives shape contemporary giving.
