Funding diversity initiatives is an important step towards promoting equity and inclusion, but it is true that without proper checks and balances, the funds may not achieve the intended results. Here are some ways to improve and extend the effectiveness of funding diversity initiatives:

1. Set clear goals and metrics: It is essential to have clear goals and metrics that define what success looks like for the diversity initiatives. This will help to ensure that the funds are being used in a targeted and effective way.

2. Monitor and evaluate: Regular monitoring and evaluation of the initiatives can help to ensure that they are on track to meet their goals. This will also help to identify any areas where the initiatives may need to be adjusted to achieve the desired results.

3. Work with diverse stakeholders: It is important to work with a diverse range of stakeholders, including the communities being served by the initiatives, to ensure that the initiatives are meeting their needs and addressing the root causes of inequality.

4. Foster accountability: Foster accountability by setting up systems to track the impact of the initiatives and report back to donors and stakeholders. This will help to ensure that the funds are being used in the most effective way possible.

5. Invest in capacity building: Investing in capacity building can help to ensure that the organizations implementing the diversity initiatives have the resources and skills needed to achieve their goals.

6. Address systemic barriers: In addition to funding diversity initiatives, it is important to address the systemic barriers that contribute to inequality. This may require a more comprehensive approach that goes beyond funding alone.

By taking these steps, funding diversity initiatives can be more effective in achieving their intended results, promoting equity and inclusion, and addressing systemic barriers to equality.