T. Rowe Price commits $2 million to fighting racial injustice
T. Rowe Price Group Inc. is donating $2 million to organizations fighting racial injustice.
The Baltimore-based money manager did not specify which organizations would get the donation, but said the T. Rowe Price Foundation will work with an advisory committee, which will include employee representatives, to determine where the money will go. T. Rowe Price is also encouraging employees to utilize the company's matching gift program to support racial equity causes.
The donation comes as protests around the U.S. continue after George Floyd, a black man, was killed by Minneapolis police in late May.
“My hope is that we are at an inflection point and that our actions and voice will contribute to the encouraging momentum behind the call for racial justice," CEO Bill Stromberg said in a statement Thursday. "Today, on the eve of Juneteenth, the firm and its Foundation continue their commitment with the donation of $2 million to support organizations that are working to dismantle racial injustice.”
Source: Baltimore Business Journal