Steven Victor has added another pillar to his Victor Victor Worldwide imprint.

On Tuesday, the Universal Music Group executive announced the launch of his philanthropic venture called the Victor Victor Foundation. And he's already pledged a hefty sum to help kick off its mission.

"I’m committing $1,000,000 to the foundation — it's a starting point and I know it’s going to take much more than that to affect real change," he said in an exclusive statement to Variety.

Victor explained the VVF aims to combat the injustices that have hurt the black community for generations, with the goal of creating a better world for the youth. He said the foundation will do this in a number of ways, such as encouraging voter turnout, implementing mentorship programs, and making monetary donations to public schools.

"The injustices against the black community that persists in our country, fueled by systemic racism and prejudice that lies within the criminal justice system and other institutions, must stop," he said in a statement to Complex. "No one should be conditioned to cope with the worst of humanity on a daily basis. That’s not what I want for my children or yours. I remain hopeful for the next generation and I am committed to doing my part … to continue the fight to effect systematic change, to support economic empowerment for our next generation and to aid in the needs of our community."

The voter participation initiative will be a collaborative effort with Vote Saves America, an online community that provides key election information, including polling locations, where to make campaign donations, and how to register to vote.

"One of the goals of the foundation is to offer both emotional and financial support," said Victor, who has previously worked for imprints like G.O.O.D. Music and Interscope Records as well as acts such as Pusha-T and Pop Smoke. "For me, mentorship from leaders in this industry has had an immeasurable impact on my career, but access has been hard won. I want to empower the next generation of children of color and give them access to opportunities in business. And more importantly, the know how to exploit and grow those opportunities."

He continued: "Last but not least, we know that our communities are struggling right now and know that there are immediate needs. Our long-time friend and client, Pusha-T, challenged us to feed our cities and we accept that challenge. We’ll be in Brooklyn, NY and Flint, MI — my and my wife’s hometowns, cities that have given us so much- supporting families with grocery giveaways. We will announce details shortly. Additionally, the VVF will make a $25,000 donation to the Fund for Public Schools to provide aid to students in Brooklyn to support their education and growth. This initial donation will go to aid students affected by the Covid-19 pandemic to help provide critical resources including basic needs, housing and educational tools and programs.

"I am proud to work with a team of people who are as thoughtful about these issues as they are committed to doing something about it. This is just the beginning…"

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