Nike Inc. cofounder and chairman emeritus Phil Knight and his wife Penny are upping their commitment to Portland Oregon’s Black community with a $400 million pledge to the Rebuild Albina project.
The initiative is an element of the brand new 1803 Fund, a non-public investing and philanthropy fund that's geared toward helping Black residents thrive and for communities to flourish. As the primary enterprise by the 1803 Fund, the Rebuild Albina project is designed to assist advance Black Portland residents — and future generations — through investments in education, place and culture and belonging within the Albina community, with advantages which can be hoped to ripple across Portland.
In an announcement, Knight said he and his wife “have long believed locally of Portland.”...
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