diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
new file mode 100644
index 0000000000..81295749d8
--- /dev/null
+++ b/CONTRIBUTING.md
@@ -0,0 +1,12 @@
+Contribute to Racket by
+submitting a [pull request](https://github.com/racket/racket/pulls),
+reporting an [issue](https://github.com/racket/racket/issues),
+joining the [development mailing list](https://lists.racket-lang.org),
+or visiting the IRC or Slack channels.
+
+By making contributions, you agree to license your contributions under the Apache 2.0 and MIT licenses. Those
+licenses are available in this repository in the files
+[LICENSE-APACHE.txt](racket/src/LICENSE-APACHE.txt) and
+[LICENSE-MIT.txt](racket/src/LICENSE-MIT.txt).
+
+In addition, contributors are expected to follow the [Friendly Environment Policy](https://racket-lang.org/friendly.html).
diff --git a/README.md b/README.md
index c25fd3e59c..2177dc9b3b 100644
--- a/README.md
+++ b/README.md
@@ -27,21 +27,6 @@ Building from Source
 For information on building Racket from this repository, see the
 [Build Guide](build.md).
 
-Contributing
-------------
-
-Contribute to Racket by
-submitting a [pull request](https://github.com/racket/racket/pulls),
-reporting an [issue](https://github.com/racket/racket/issues),
-joining the [development mailing list](https://lists.racket-lang.org),
-or visiting the IRC or Slack channels.
-
-By making a contribution, you agree to follow the [Friendly Environment Policy](https://racket-lang.org/friendly.html) and that your contribution is
-licensed under the Apache 2.0 and MIT licenses. Those
-licenses are available in this repository in the files
-[LICENSE-APACHE.txt](racket/src/LICENSE-APACHE.txt) and
-[LICENSE-MIT.txt](racket/src/LICENSE-MIT.txt).
-
 License
 -------