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Philanthropic organizations, and the nonprofits that rely on philanthropic giving, are built upon a vast and persistent racial wealth gap in the United States. In this chapter, we call for intentional and sustained attention to intersections of race and class in the dynamics between organized philanthropy and nonprofit organizations. Combining scholarship on elite philanthropy with critical theories of structural racism, we argue that systems of unearned white advantage have simultaneously fuelled organized philanthropy and muted the philanthropic contributions of communities of color. We examine how interactions between organized philanthropy and nonprofits facilitate the racialization of these organizations as spaces that center the interests of white donors and encourage the reproduction and reinforcement of racial inequality in core functions of nonprofits. Finally, we consider the implications of the perpetuation of white supremacy in the sector and offer avenues for transformation in policy, research, and practice.