FOR IMMEDIATE RELEASE:
August 6, 2026
Media Contact:
Courtney Thomas
Vice President for Communications & Public Affairs
Greater New Orleans Foundation
504.236.7096
courtney@gnof.org
Greater New Orleans Foundation Holds Seventh Annual Celebration of Black Philanthropy, Honoring Rhesa & Alden McDonald, Jr. and Liberty Bank, and Announces the 2026 Dr. Norman C. Francis Endowment for Racial Equity Grantees
Courtesy of VPJR
NEW ORLEANS – (August 6, 2026) On Tuesday, August 4, kicking off Black Philanthropy Month, the Greater New Orleans Foundation (Foundation) hosted its seventh annual Celebration of Black Philanthropy in front of a crowd of over 300 people at the Orpheum Theatre. This year’s event honored Rhesa & Alden McDonald, Jr. and Liberty Bank. Alden McDonald, Jr. is Co-Chairman of the Board and CEO of Liberty Bank, a position he has held since the bank’s inception in 1972, making him the longest tenured African American financial executive in the country. Following five decades of growth, Liberty Bank has over $1 billion in assets and branches in 11 states, making it the largest Black- or African American-owned financial institution in the United States. Rhesa McDonald is a civil rights pioneer and an educational leader for our community. She was one of three young girls to integrate Ursuline Academy in 1962 and later served for two decades as a leader in our schools. The McDonalds have been major supporters of the United Negro College Fund, the Amistad Research Center, the New Orleans East Hospital, and many other charitable causes in our region. The highlight of the Celebration was a fireside chat between Kim Boyle, Managing Partner at Phelps and former Greater New Orleans Foundation Trustee, and Rhesa & Alden McDonald, Jr. At the event, the Foundation also announced this year’s Dr. Norman C. Francis Endowment for Racial Equity grantees.
The Celebration of Black Philanthropy honors past and present Black changemakers whose leadership uplifts the Black community and drives impact across the region. Studies show Black Americans are among the country’s most generous people, with Black Louisianans leading the way. That’s the kind of generosity we pay tribute to with the Celebration of Black Philanthropy.
This year’s Celebration of Black Philanthropy was generously supported by the Dale Mason Cochran Family Fund, First Horizon Bank, Hancock Whitney Bank, and Bright Moments.
Courtesy of VPJR
Andy Kopplin, President and CEO of the Greater New Orleans Foundation, said, “I love this event, because every year we honor more of my heroes—Ellis Marsalis, our late board chair Cheryl Teamer, her dad and another former Foundation Board Chair Dr. Charles C. Teamer, Gen. Russel Honore, and this year, Rhesa and Alden McDonald, Jr. The McDonalds have centered their entire lives on supporting the people of our community, particularly those who have been shut out or left behind. Rhesa is a civil rights pioneer in her own right and an educational leader for our community. After Katrina, after Liberty Bank had lost almost all of its branches, and most of its customers had lost their homes and jobs due to the floods, they leaned forward. Alden once said, ‘We want to be the kind of bank that helps people when times are at their worst.’ And that is what Liberty Bank did for their customers, not because it was profitable, but because it was right and compassionate. That’s the spirit of generosity we honor at Celebration of Black Philanthropy.”
Kopplin continued, “Two years ago, we created the Dr. Norman C. Francis Endowment for Racial Equity to honor Dr. Francis and ensure that the Greater New Orleans Foundation will always have the resources to make grants to organizations fighting to end unjust systems and build wealth in the Black community. Dr. Francis never shied away from saying what he meant and speaking truth to power, recognizing the difference between equality and equity. If we just treat everyone exactly the same, he pointed out, then we aren’t recognizing that some of us are facing bigger obstacles. Given that some of us are facing steeper hills than others, we need to recognize that and give each and every person the help they need to reach their full potential. And that is exactly what Dr. Francis put in place at Xavier by creating a nurturing culture that provides exceptional support to help every student overcome historic barriers and meet their promise. ”
Courtesy of VPJR
In November 2020, the Foundation launched the Greater Together Fund for Racial Equity and has since distributed over $3.5 million to nonprofits leading the fight for racial justice in our region and working to build wealth in the African American community. In line with the purpose of the Celebration of Black Philanthropy and since launching the fund, the Foundation has made large, sustained investments in a number of nonprofits leading on racial equity whose work has scalable local, regional, and even statewide impact. The 2020 founding of the fund was supported by investments of over $500,000 from the Foundation.
At the 2024 Celebration of Black Philanthropy, the Foundation announced it would make racial equity work a permanently priority by establishing the Dr. Norman C. Francis Endowment for Racial Equity with a goal to raise $2.5 million, which would ensure that the Foundation can increase its grantmaking by $100,000 or more annually to the nonprofits on the front lines, doing the work to create a more just and equitable world for us all in the name of one of the most visionary leaders in New Orleans history, Dr. Francis. Since the Foundation announced this endowment in 2024, it has raised more than $1.28 million. The Foundation would like to acknowledge our lead donors, First Horizon and Hancock Whitney Banks—who both generously gave $250,000 in 2024 each to get this campaign started.
At the 2025 Celebration, the Foundation also announced that an anonymous donor had pledged $250,000 to the Endowment, putting us over $1 million towards our $2.5 million goal. That donation is a challenge grant, meaning it must be matched by our community and will add half a million dollars to our permanent endowment for racial equity when it’s complete. Jeanette Davis-Loeb, Greater New Orleans Foundation Board Vice Chair and Chair of the Dr. Norman C. Francis Endowment for Racial Equity Committee, generously kicked off this challenge with a multi-year pledge of her own, totaling $25,000 in 2025.
We are especially grateful to Dr. Dale Mason Cochran for her years of steadfast support for the Greater New Orleans Foundation’s Celebration of Black Philanthropy. Her enduring generosity, together with the commitment of so many dedicated supporters, has helped ensure the continued success and impact of this important celebration.
Courtesy of VPJR
“Each year, this celebration reminds us that philanthropy is about far more than financial resources—particularly within the Black community. For generations, our philanthropy has been expressed through neighbors helping neighbors, families supporting one another, and communities investing in the hopes and dreams of future generations. Long before it was formally recognized or celebrated, Black philanthropy was alive in the generosity of ordinary people giving extraordinary gifts of their time, talent, leadership, resources, and love to strengthen the communities they called home. That enduring legacy is exactly what we gather to celebrate at this event,” said Jeanette Davis-Loeb, Greater New Orleans Foundation Board Vice Chair and Chair of the Dr. Norman C. Francis Endowment for Racial Equity Committee. “For generations, Liberty Bank has represented opportunity, trust, and economic empowerment for communities that have too often faced systemic barriers to accessing capital and building wealth. Together, Liberty Bank and Rhesa and Alden McDonald embody the very essence of Black philanthropy—investing in people, expanding opportunity, removing barriers, and creating pathways for future generations. That vision is also at the heart of the Greater New Orleans Foundation’s Dr. Norman C. Francis Endowment for Racial Equity. Named in honor of one of our nation’s most respected educational leaders, the endowment exists to advance racial equity by addressing systemic barriers and investing in organizations that are creating lasting change throughout our community.”
At the Celebration, the Foundation proudly announced the organizations that have been selected to receive the Dr. Norman C. Francis Endowment for Racial Equity 2026 grants totaling $175,000. The 2026 grant recipients include:
To contribute to the Dr. Norman C. Francis Endowment for Racial Equity, click here. To learn more about the Dr. Norman C. Francis Endowment for Racial Equity, the Foundation’s annual Celebration of Black Philanthropy, and other charitable programs and tools, please contact Ashley Floyd, Major Giving Officer at the Greater New Orleans Foundation, at ashleyf@gnof.org.
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ABOUT THE GREATER NEW ORLEANS FOUNDATION:
With roots extending over 100 years, the Greater New Orleans Foundation connects generous people to the causes that spark their passion. As one of the most trusted philanthropic organizations in the region, we work every day to drive positive impact by championing charitable giving, strengthening nonprofits, and leading civic projects in our thirteen-parish region. In addition to grantmaking, we convene people, resources, and ideas to create intelligent strategies and solutions to meet our region’s greatest challenges. We are proud to serve as a vocal civic leader with our partners to ensure a thriving, sustainable, and just region for all. Learn more at www.gnof.org