User:Adjoajo/BUFNY

The Black United Fund of New York was formed in 1979. It was an African American self-help and community based philanthropy organization. BUFNY promoted financial literacy, home ownership and business development. BUFNY was a member of the National Black United Fund fund that was started in 1972 by Walter Bremond. The BUFNY and NBUF were formed as an alternative to United Way's employee payroll charity reduction fund. In 1980 NBUF was ruled in court that NBUF had been illegally excluded from the Combined Federal Campaign.

In 2002 the Black United Fund of New York was under investigation from the then attorney general Eliot Spitzer. In 2003 Spitzer orchestrated the dismantling of BUFNY. He announced that the entire board of directors of the Black United Fund was being replaced. It was replaced with an all Republican appointees.