Other Group

Equity Endowment

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The Equity Endowment, founded by Russel Fugett, is an impact endowment fund with a portfolio made up of minority fund managers and funds that invest in minority businesses and communities. 1 2

Background

Founded in 2023, Equity Endowment is a fiscally sponsored project of the Players Philanthropy Fund. 2 1 It is an impact endowment fund focused on “creating equity.” 1

Executive director Russel Fugett said that Equity Endowment is a nonprofit that has a “mission of closing the racial wealth gap.” Fugett said that “access to capital has always been a barrier for people of color in America to have ownership.” 3

Equity Endowment Fund invests in minority fund managers, businesses, and communities. 2 3 Proceeds from the fund are given to nonprofits focused on increasing the number of “minority entrepreneurs and business owners.” 3

Leadership

Russel Fugett is the executive director of Equity Endowment. He is also a consultant with Management Concepts and a consulting network member with GLG. Fugett previously was a senior consultant with the Jumla Network, the president of Good Word Digitals, and chief executive officer and president at TLC JR, LLC. Fugett worked as a business delegate for the U.S. Embassy to South Africa and was the senior program coordinator for the Multicultural Student Services Center at George Washington University. 4

References

  1. “Home.” Equity Endowment. Accessed August 16, 2024. https://www.equityendowment.org/.
  2. “Equity Endowment”. LinkedIn. https://www.linkedin.com/company/equityendowment/about/
  3. Costello, Jamie. “Russell Fugett Aims to Close the Racial Wealth Gap with His Endowment Fund.” WMAR 2 News Baltimore, January 5, 2024. https://www.wmar2news.com/local/russell-fugett-aims-to-close-the-racial-wealth-gap-with-his-endowment-fund
  4. “J. Russell Fugett, PMP – Equity Endowment.” Linkedin. Accessed August 16, 2024. https://www.linkedin.com/in/jrussellfugett.
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