As the United States approaches its 250th anniversary, we are reminded of the nation’s complex history — one marked by profound struggles for freedom and equality. In this moment of reflection, the intersection of the abolitionist movement and modern impact investing offers a compelling framework to examine how resources can be mobilized for systemic change.
Richard Allen and the abolitionist movement
Richard Allen, founder of the African Methodist Episcopal Church, provides a timeless example of how faith, community leadership and financial innovation can converge to transform society. As detailed in Richard S. Newman’s Freedom’s Prophet: Bishop Richard Allen, the AME Church, and the Black Founding Fathers, Allen’s story is one of resilience and resourcefulness.
Sidney S. Williams Jr.
Allen transformed a blacksmith shop into Bethel AME Church, creating not just a place of worship but a sanctuary for abolitionist organizing and community empowerment. This transformation was made possible by strategic financial partnerships, including support from Quaker abolitionists in Philadelphia, who purchased investment notes to fund Allen’s vision.
Newman writes, “Allen’s genius lay not only in his spiritual leadership but in his capacity to create a sustainable institution that addressed the immediate and long-term needs of his people.”
This collaboration represents an early form of impact investing where financial resources are intentionally directed to support social justice and community well-being. By blending mission and capital, Allen and his allies laid the groundwork for a model that continues to inspire.
Modern Intermediaries
Today, Allen’s legacy finds new life in the work of community-based intermediaries. These organizations bridge the gap between philanthropic funders and grassroots movements, ensuring resources flow equitably to communities that need them most. As a recent essay in Nonprofit Quarterly notes, “A new generation of leaders is emerging in communities of color that asserts its autonomy from traditional organizational structures and directly challenges conventional philanthropic thinking and practices.”
These intermediaries do more than allocate funds; they center community voices, embed equity into grantmaking practices and challenge the systemic inequities of traditional philanthropy. Their mission is to empower movements, reduce bureaucratic barriers and ensure that resources align with the priorities of those they serve.
Oikos Institute for Social Impact
The Oikos Institute for Social Impact, co-founded by Sidney Williams and Reginald Blount, exemplifies this modern intermediary model. Inspired by the legacy of leaders like Richard Allen, Oikos supports Black churches in addressing systemic inequities and fostering community transformation.
In addition to providing technical assistance and advocacy, Oikos has established a loan fund to help churches and community organizations access the capital necessary for their initiatives. This loan fund was made possible through the foundational support of the Southern Reconstruction Fund, Napolean Wallace, and the Nathan Cummings Foundation. These partners share Oikos’ vision of equipping underserved communities with resources to create sustainable economic and social impact.
“Oikos has established a loan fund to help churches and community organizations access the capital necessary for their initiatives.”
Furthermore, Oikos recently achieved Certified Development Entity certification and intends to apply for Community Development Financial Institution certification in 2025. These advancements position Oikos as a vital resource for Black churches seeking to build sustainable, community-driven initiatives.
Much like Allen’s Bethel AME Church, Oikos operates as a hub of social and economic empowerment, aligning financial tools with the needs of marginalized communities. By asking, “What do you need?” before designing its programs, Oikos ensures its work reflects the priorities of those it serves, creating solutions that are both equitable and impactful.
“The Anti-Slavery Society Convention, 1840,” by Benjamin Robert Haydon (died 1846), given to the National Portrait Gallery, London in 1880 by the British and Foreign Anti-Slavery Society. (Wikimedia public domain)
A call to action
As we reflect on 250 years of American history, the lessons of the abolitionist movement and the vision of leaders like Richard Allen remind us that liberation requires more than good intentions — it demands strategic action and investment.
Organizations like Oikos demonstrate how the principles of abolitionism can inform today’s efforts to dismantle systemic inequities and build a more just society.
This anniversary is a moment not only to celebrate but to recommit ourselves to the unfinished work of justice. By aligning our resources, policies and practices with the needs of underserved communities, we honor the legacy of those who fought for freedom and ensure that their vision continues to guide our path forward.
Richard Allen’s story, as told in Freedom’s Prophet, challenges us to reimagine what is possible when we combine faith, innovation and action. His work — and the work of modern intermediaries like the Oikos Institute — provide a blueprint for how we can invest in communities to create lasting change.
As we forge ahead, we invite leaders, organizations and allies to join us in this critical work. The next Fishing Differently conference, scheduled for Sept. 3-5, 2025, in Philadelphia, will provide an opportunity to deepen these conversations and explore actionable strategies. Together, let us draw on this rich history to build a future where resources flow equitably, communities thrive and justice prevails.
Sidney S. Williams Jr. is an impact investor and theologian with more than 30 years of experience in corporate and community development and serving his 14th year as senior pastor. Taking advantage of his early experience working on Wall Street, where he learned how to develop sustainable business models, Williams is known for making a continuous effort to identify where theological and marketplace frameworks should interact. He is the chief executive officer of Crossing Capital Group Inc. and currently serving in his 10th year as senior pastor of Bethel Church of Morristown, N.J. He is the author of two books: Morning Meditations: 100 Days to Believing You’re Successful and Fishing Differently: Ministry Formation in the Marketplace.