The Greenwood Trust

As part of Mayor Nichols' Road to Repair announcement, he has proposed the creation of a private charitable trust named The Greenwood Trust, which would serve as an avenue to encourage economic growth and development in North Tulsa, the historic Greenwood District, and surrounding neighborhoods, with a focus to address disparities experienced by Tulsa Race Massacre survivors, descendants, Historic Greenwood District and North Tulsa residents and businesses.

The following focus areas for the Trust include:

• Housing Fund, $24 million – This fund will benefit the residents of Greenwood and North Tulsa. It will assist in furthering the implementation of community recommendations centered on housing and homeownership benefits for Race Massacre survivors and their descendants. 
• Cultural Preservation Fund, $60 million – This fund will go toward improving buildings, reducing blight, and helping implement certain aspects of the Kirkpatrick Heights-Greenwood Master Plan.
• Legacy Fund, $21 million – This fund will allow for the development of trust-owned land and acquisition of land for the benefit of Race Massacre survivors and descendants. A part of these monies would help in the creation of a scholarship funding structure for descendants to get Tulsa children on a stronger educational pathway. Another portion of the funds will go toward the support of small business and organizational grants to further economic development in North Tulsa and the Historic Greenwood District.

As part of the Road to Repair, the Greenwood Trust will be created with the goal to secure $105 million in assets with most of the funding secured, or committed, by June 1, 2026, the 105th Anniversary of the Tulsa Race Massacre. Assets could include property transferred to the Trust, philanthropic funding, and public funding, if desired.

The trust would be comprised of an executive director, paid by private funding, as well as a board of trustees and a board of advisors to manage and operate the daily functions of the trust. Mayor Nichols said the first operational year of the Greenwood Trust will serve as a planning year to stand up some of the Trust’s initial programs and the hiring of initial staff to carry out fundraising efforts.

More information on board makeup, staffing, and additional announcements will be made soon.