George Floyd Square at the intersection of Chicago Ave. and 38th St Friday, May 19, 2023 in Minneapolis, Minn. The intersection of 38th Street and Chicago Avenue in South Minneapolis is the site of George Floyd’s death and has become a gathering place for people to pay their respects and remember him. It is an important space for racial healing and justice among many members of the community and visitors from all over. This area, also called George Floyd Square, pays tribute to his life and is a powerful way for the Minneapolis community to rally around the importance of Black lives. ] Brian Peterson • brian.peterson@startribune.com (Brian Peterson, Star Tribune/The Minnesota Star Tribune)

The Ward 8 Community Benevolence Fund, established after Minneapolis police murdered George Floyd, announced last week that it has given out all its funds in the foundation's sole round of grant-making.

The $500,000 fund was established as part of the $27 million settlement Floyd's family received from Minneapolis in 2021. The money is intended "for the benefit of the community around 38th and Chicago."

The Ward 8 Community Benevolence Fund, initially named the George Floyd Community Benevolence Fund, took applications between January and the end of March from businesses and organizations near the area of 38th Street and Chicago Avenue, where Floyd was killed in 2020.

The fund's board — composed of members of Floyd's family and estate, the attorneys who negotiated the settlement and Ward 8 residents — reviewed each of the "dozens and dozens" of applications received since the process opened in January. There were far more applicants than funds available, according to a statement from the fund.

The fund did not say which organizations and businesses had been funded or for how much. A statement last week said various dollar amounts went to businesses and organizations that "support children's mental and emotional well-being through social services and literature, teach children entrepreneurial skills, are family-owned and community-based restaurants that provide jobs and gathering places, independent businesses and retailers that provide jobs and skills training, visual and performing arts organizations that add cultural value and expression to the community."

According to an earlier statement, the fund would make grants of between $5,000 and $25,000.

A spokeswoman for the law firm that represented Floyd's estate in the settlements said the fund would make no further statements, and that the grant recipients were not identified in order to respect their privacy.