Rising Tides Don’t Create Racialized Change: Analyzing Institutional Change Projects in Postsecondary Philanthropy’s College Completion Agenda

This paper uses critical archival analysis, paired with textual analysis of grant descriptions, to understand how nine foundations — all with endowments derived from the student loan industry — have motivated their college completion work and the relationship between these commitments and grantmaking over time (2000–2019). Mobilizing concepts of theorization and racialized change work (RCW) to analyze the relationship between funders’ deployed racial frames and their theory of change, this paper offers three primary contributions: 1) A methodological approach to analyzing philanthropic or intermediary-led reform campaigns (e.g. the college completion agenda) as a form of theorization — a core mechanism of institutional change and diffusion — inclusive of funders’ racial projects; 2) Insights on the qualitative, causal pathway by which one foundation created organization-specific interest convergence that facilitated engagement in RCW, and 3) Evidence demonstrating how race-evasive theorizations, even if efficacious mechanisms for change, fail to deinstitutionalize a core mechanism of racialization: investment in deficit-minded, individual-level projects. These insights speak not only to the material differences between race-evasive and race-conscious theorizations, but also organizational pathways toward durable race-conscious commitments in higher education.