Focus Areas
Creating equitable access to capital, closing the educational gap, and promoting economic mobility and inclusion.
Closing the educational gap
The Acevedo Foundation's commitment to closing the educational gap is rooted in the belief that when a community is equipped with the right knowledge and technical abilities, their opportunities are endless. Recognizing that financial literacy is critical to creating generational success for Latinos, the foundation launched SUMA Academy, the first platform to offer Latinos curated financial information and in-depth financial educational resources through content that is culturally relevant, easy-to-understand, and completely free. In 2021, we hope to partner with Wells Fargo to launch the Dinero Bootcamp that will impact the financial wellbeing of 1000 Latinos in Los Angeles.
Creating equitable access to capital
Creating more equitable access to capital and mentorship for Latino entrepreneurs is critical to elevating the community's needs and building generational wealth. The Foundation serves as the fiscal sponsor for PledgeLA’s Fund for South LA Founders, which offers much-needed non-dilutive capital to startup founders. In 2021, the Acevedo Foundation, in partnership with the Annenberg Foundation, helped raise $500,000 for 20 Latino and Black founders from South Los Angeles. Each received a $25,000 stipend, 3 months of technical assistance, and mentorship from experienced CEOs. This effort will continue for a further two years.
Achieving Cultural Advancement through Narrative Change
The late media scholar George Gerbner once said, “We experience the world through stories. Whoever tells the stories of a culture defines the terms, the agenda, and the common issues we face.” An equitable foundation of media rests on not just who creates it, but also who owns it. As media and news outlets and platforms continue to struggle to evolve in the ever-changing media landscape, it’s more important than ever for grant-makers to help support and expand the fragile Latino-owned media infrastructure that currently exists. The Acevedo Foundation is committed to ensuring that Latino-owned media is as robust as the 62.5 million Latinos it represents.
Promoting economic mobility and inclusion
Promoting economic mobility and inclusion means creating the programs and platforms for the Latino community to congregate, be seen, and prosper. To accomplish this, the Foundation partnered with LTX Connect which has become the largest digital marketplace of Latino talent in technology, media and advocacy. In 2020 over 10,000 Latino professionals joined this community and opportunity hub enabled with AI matchmaking technology, helping them find jobs, mentorship, and access to capital.
Opening doors to diverse opportunities
One of the biggest problems Latinas continue to face is the lack of available resources to pursue and enhance their careers and seek diverse opportunities. The Educated Hermanaz, Melanie and Mel, have created the 24Fierze fund with the mission to expand opportunities for Latinas, to break stereotypes, and limitations that have been placed on Latinas. 24Fierze will create tangible opportunities for Latinas by providing financial help to pursue an experience that will enhance their career such as research for STEM, study abroad, take a masterclass, or even get a real estate license.