The time is now. For many of us in philanthropy, we have never seen a major policy expansion to support children and families on a scale that the president proposed last evening. But how did we arrive here, and how can philanthropy ensure more moments like this?

It would be a mistake to only credit forward-thinking policymakers: the real leadership clearly came from grassroots social justice movements. Building on the tireless work of past generations, over the last several years these groups changed the entire political landscape, pushed new, visionary ideas to the fore, and organized the public to demand transformative change. A $15 minimum wage. Universal childcare and pre-K. Reducing student debt and increasing access to college. Guaranteed paid family leave. Their organizing put these policies on the agenda. Passing that agenda in Congress requires all of us to step up.

This is a moment that embodies philanthropy’s business model for impact: employing our resources and leadership to leverage massive, transformative federal, state and local investments and policy changes. Simply stated, using private millions to yield public trillions.

The Biden administration has already moved trillions through the American Rescue Plan to stimulate the economy. Now, the president proposes to make other “once-in-a-generation investments in America” through the American Jobs Plan and the American Families Plan. These multi-trillion-dollar packages are aimed at supporting low and middle-income families and children.

What do you do when you have an opening like this? For foundations and philanthropic leaders, sitting on the sidelines shouldn’t be an option. These much-needed investments in American communities can either increase racial disparities or, with philanthropy-supported advocacy, implementation monitoring and local grassroots community power-building, they can turn around decades of racial disparities.

We can and should join with national and local leaders in calling on Congress to finally use its financial power to address the nation’s centuries-long plague of racial disparities and pass this major federal investment. We have argued that philanthropy should use its “cash and connections” to advocate for a major government stimulus to close our country’s deep racial inequities in wealth, health and education and jumpstart our economy—as the American Jobs Plan can start to do. From $100B to modernize schools to $85B for transit and $25B for early childhood education, these investments should align with racial justice goals. This is a time to be vocal and collaborative, and importantly to move the money to track the resources and support the local organizing necessary to ensure the state and local implementation needed to address existing racial disparities.

Just as corporations are speaking out for voting rights, now is when foundation leaders should leverage their influence to advocate for the federal investments to build the infrastructure of state and localities to address disparities. If we think these dollars can’t impact racial inequities, one only has to look at the impact of the 1930s’ New Deal in expanding segregation through redlining and public housing.

And it is right now when we can use our “millions” to build and back local grassroots organizations and movements which have already accomplished transformative change. Grassroots organizations, those closest to the problems, are those most grounded in their communities, most able to mobilize support—not only to urge passage of this second infrastructure investment, but to ensure the investments and expenditures actually address racial inequities. Just as in New York, when investments in parent, youth and educator organizing finally gained the hard won $5.5B in equitable funding for the schools and students most in need. A historical and outstanding win for NY students and a particularly great philanthropic return on investment.

It will take philanthropy’s support of organizing in communities of color to build the power necessary to ensure America lives up to its still unfulfilled promise of democracy and equity. Philanthropy’s investment in supporting grassroots organizations and racial justice is the path forward. This is the way to ensure that federal investments truly are a new deal for all communities—specifically Black, brown and Native—that helps build America back better for all.