Grassroots Empowerment:

Introducing the African American

Financial Capability Initiative
March 5, 2018 3:00-4:00 pm EST
Welcome

Carmen Shorter
Sr. Manager for Learning, Field Engagement
Prosperity Now
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#RacialWealthDivide
#RaceandWealth
@ProsperityNow
 Prosperity
Now’s mission
is to ensure
everyone in our
country has a
clear path to
financial stability,
wealth and
prosperity.
Today’s Speakers
Emanuel Nieves
Cat Goughnour
Senior
Sr. Policy Manager
Program Manager, Racial Wealth Divide Initiative
Contact: enieves@prosperitynow.org
Contact:
@Emannieves
cgoughnour@prosperitynow.org

Dedrick
Dedrick Asante-Muhammad
Asante-Muhammad
Senior Fellow, Racial Wealth Divide
Senior
Contact: Fellow, Racial Wealth Divide
dasantemuhammad@prosperitynow.org
Contact:
@DedrickMdasantemuhammad@prosperitynow.org
@DedrickM

Solana
Lillian Rice
Director, State & Singh
Local Policy
Director,
Contact: Racial Wealth Divide Initiative
srice@prosperitynow.org
@SolanaRice
Contact: lsingh@prosperitynow.org
@lilliandsingh

Nikki Foster
Program Officer, Northwest Area Foundation
Contact: nfoster@nwaf.org
@N_FFoster
Today’s Moderator &
Manager of the African American
Financial Capability Initiative

Cat Goughnour
Sr. Program Manager,
Racial Wealth Divide Initiative
Prosperity Now
Objectives for Today’s Discussion
• Outline the causes and consequences of the racial
wealth divide
• Address common misconceptions and barriers
communities of color face while working to overcome
economic injustice
• Highlight best practices for maximizing grassroots
power
• Answer audience questions about lessons learned and
promising practices
African Americans
and the Racial Wealth Divide

Dedrick Asante-Muhammad
Sr. Fellow, Racial Wealth Divide
Prosperity Now
How The Civil Rights Movement is Remembered
The Reality of the End of the
Civil Rights Movement
Racial Wealth Divide 1983 - 2016
MEDIAN NET WORTH, 1983-2016

Whites Blacks Hispanics

$180K
$166,300

$160K
$140,500
$140K
$120,300

$105,300
$120K
$96,100

$100K

$80K

$60K
$10,500
$7,900
$40K
$4,100 $2,000 $6,300

$20K $7,000 $11,600 $10,700

$3,400
$1,70
$0K
1983 1989 1992 1995 1998 2001 2004 2007 2010 2013 2016
The Disconnect Between
Income & Wealth
The Disconnect Between
Education & Wealth
Discussing Racial Wealth Inequality
The FALSE narrative: The TRUTH:
There is a system that works and
communities of color are doing Our economy is designed to reward
something wrong the wealthy and leave others behind

In their finances An upside down tax system

Residential economic
On the job segregation

Personal decisions Lack of investment in

disenfranchised communities
Racial Wealth Divide Initiative's
Programmatic Work

Lillian Singh
Director, Racial Wealth Divide Initiative
Prosperity Now
Three Strategies to Addressing
Racial Equity at Prosperity Now
Strengthen all of Prosperity Now's programs’ ability to address
racial wealth inequality and develop stronger analysis of asset
poverty in communities of color.

Launch and implement specific projects that highlight best

practices in bridging racial wealth inequality working in
collaboration with local and regional organizations.

Elevate Prosperity Now and its partners as influential voices that

drive policy solutions to tackling racial economic inequality at the
national, state and local levels.
The Approach:
Working with Nonprofits of Color

•Assist in developing high impact •Build an understanding of the

nonprofit organizations of color intersection of income, assets
focused on advancing economic and the racial wealth divide.
opportunity nationally.

THE WORK
•Strengthen leaders access to •Improve relationships between
networks across sectors to have organizations of color, local
lasting local influence and organizations and asset-building
advance social change. institutions.
2 Flagship Projects – 10 States
Building High Impact Building High
Northwest Area
Nonprofits of Color Impact Nonprofits
Foundation (2016 – Present ) of Color (2018)
The African American Financial
Capability Initiative: Theory of Change
• We support African American led organizations to
identify community resources, strengthen and coordinate
service delivery, advocate for asset-building policies and
IF engage in asset-building networks.

• Organizations will be better positioned to address the

complex and unique financial challenges facing African
Then Americans in target cities.
African American Financial Capability Initiative
Early Lessons for Intermediaries Working
With & Supporting Organizations of Color
Northwest Area Foundation’s
Racial Equity Commitment

Nikki Foster
Program Officer
Northwest Area Foundation
Northwest Area Foundation
Theory Of Change
Northwest Area Foundation
Theory Of Change
Northwest Area Foundation
Theory Of Change
Northwest Area Foundation
Theory Of Change
Northwest Area Foundation
Theory Of Change
Northwest Area Foundation
Theory Of Change
Northwest Area Foundation
Theory Of Change
 Audience Q & A

What questions do you have?

Share them in the

Questions box!
Today’s Speakers
Emanuel Nieves
Cat Goughnour
Senior
Sr. Policy Manager
Program Manager, Racial Wealth Divide Initiative
Contact: enieves@prosperitynow.org
Contact:
@Emannieves
cgoughnour@prosperitynow.org

Dedrick
Dedrick Asante-Muhammad
Asante-Muhammad
Senior Fellow, Racial Wealth Divide
Senior
Contact: Fellow, Racial Wealth Divide
dasantemuhammad@prosperitynow.org
Contact:
@DedrickMdasantemuhammad@prosperitynow.org
@DedrickM

Solana
Lillian Rice
Director, State & Singh
Local Policy
Director,
Contact: Racial Wealth Divide Initiative
srice@prosperitynow.org
@SolanaRice
Contact: lsingh@prosperitynow.org
@lilliandsingh

Nikki Foster
Program Officer, Northwest Area Foundation
Contact: nfoster@nwaf.org
@N_FFoster
 Stay Connected

Bridging the Racial Wealth Divide

Racial Wealth
Divide Initiative
https://prosperitynow.org/ https://soundcloud.com/ https://www.facebook.com/
racial-wealth-divide- rwdpodcast racialwealthdivide/
initiative
Next Steps
• Learn more about the African American Financial Capability Initiative
and follow our upcoming op-ed series: visit
https://prosperitynow.org/african-american-financial-capability-initiative

• Follow the work of the Racial Wealth Divide Initiative at

https://www.prosperitynow.org/racial-wealth-divide-initiative

• Become a member of the Racial Wealth Equity Network and listserv to

engage with others committed to addressing the racial wealth divide.
Sign up today at https://prosperitynow.org/get-involved/racial-wealth-equity

• Stay tuned for future learning opportunities: join the Prosperity Now
Community at https://prosperitynow.org/get-involved/community

• Join us this fall for the 2018 Prosperity Summit in DC!

Racial Equity Policy Design and Advocacy Primer
& A State Policy Blueprint
Plug into the Prosperity Now
Community
Sign up for listservs and working groups, volunteer to facilitate
peer discussions, serve in a leadership role and more!

 Racial Wealth Equity Network

 Adult Matched Savings Network
 Financial Coaching Network
 Taxpayer Opportunity Network
 Medical Financial Partnership Network
 Campaign for Every Kids Future — Children’s Savings Accounts
 Affordable Housing Network
 Innovations in Manufactured Housing (I’M HOME) Network

Visit any of the networks above at prosperitynow.org/getinvolved to get started.

Take action with Prosperity Now Campaigns!
Sign up to stay informed about the latest developments and opportunities to take
action by joining one of our four federal policy campaigns.

HOMEOWNERSHIP CONSUMER SAFETY NET TURN IT

PROTECTIONS RIGHT-SIDE UP

Homeownership is Consumer Safety net programs The vast majority of

key to building protections create help protect tax incentives go to
wealth. Together, we fairer, more vulnerable individuals those at the top, not
will advocate for transparent financial and families from to those who need it
products and policies markets. Together, falling deep into most. Together, we
that provide more we will ensure poverty. Together, we will turn our upside-
affordable homes to consumers keep the will protect programs down tax code right-
more people. safeguards they like SNAP, IDAs and side up.
deserve. more to help those in
need when they need
it most.
Take Action at the Prosperity Now Advocacy Center!
Make your voice heard by calling, emailing, tweeting or scheduling a visit
with your Members of Congress with a fast and simple click of a button!
https://prosperitynow.org/take-action
The Assets Learning Conference…
is now the Prosperity Summit!

Join us September 5-7 for the

2018 Prosperity Summit!

https://prosperitynow.org/events/save-date-2018-prosperity-summit
 Thank you!
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