Creative Planning, the Overland Park, Kan., RIA, said Tuesday it has pledged to donate $12 million over the next 18 months to groups advocating for social justice reform, education and financial literacy in the wake of George Floyd’s death at the hands of Minneapolis police officer Derek Chauvin. The firm also plans to create an ongoing financial literacy program to provide legal and tax education services to disenfranchised communities.
"Creative Planning understands the serious inequities present in our society. It is our hope that this contribution will be a step towards creating equal opportunities for success for individuals and communities impacted by racial injustice," said Peter Mallouk, the company’s CEO.
The donation caps a list of work Creative Planning has done to assist disenfranchised communities in the Kansas City area, including scholarships and mentorships for children challenged by homelessness, foster care or an incarcerated parent, building a center to distribute things like soap and deodarant and toothpaste to poor families and re-opening a center for homeless services. Most recently, Creative Planning on March 17 made a $1 million donation to deliver meals to families in need due to coronavirus disruptions.
Mallouk added that Creative is “not only deeply committed” to contributing to “causes that are aligned with our corporate values,” but is seeking “continued dialogue in our industry” over social injustice. “Together, we must ask ourselves how we can change and improve our existing system to stop the cycle of inequity that disproportionately affects these communities,” he said.