One year ago, as protesters filled America’s streets demanding justice after George Floyd’s murder by police, corporations and major philanthropists pledged an outpouring of donations for racial equity causes. Billions of dollars were committed to new philanthropic initiatives. Billions more were directed to new business practices designed to aid minority communities. Those causes may yet receive the money they were pledged. Yet a tangle of complex tax rules and the absence of a framework to track funding for racial equity programs make it all but impossible to assess the overall effectiveness of the donations.
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