2024 Annual Report
Report Highlights
Engaging 200+ institutional members investing in asset building across the U.S.
45 learning opportunities
advancing the latest insights and strategies from the field
Partnered with more than 195 thought leaders on events and publications
Mobilized 145 unique organizations to collaborate on 35 jointly funded initiatives
National Snapshot
AFN 20th Anniversary
In 2024, AFN had twenty years of learnings and insights that helped deepen our reflections and guide our actions towards meaningful and disruptive outcomes.
AFN Biennial Conference
AFN held its 2024 biennial conference in New Orleans with record-breaking attendance, bringing together funders of all sizes and strategies. Built around the theme, “Centering Economic Equity: The Power of Intentionality.”
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The AFN conference was truly the best I’ve ever attended-rich in insights, packed with practical strategies, and offering an honest discussion of what works and what hasn’t. This candid approach set it apart, providing a clear blueprint for next steps and potential partnerships. It’s an invaluable experience for asset funders committed to driving meaningful and lasting change.
Christina Hanger | W.K. Kellogg Foundation
AFN Original Funder-Focused Research
AFN conducts research to equip members with evidence-based insights and practical tolls to introduce, advocate for, and act on new ideas to address systemic barriers to economic mobility. Including:
Shared Equity Homeownership
Addresses the continuum of impacts for households and communities associated with shared equity homeownership while offering funders strategies through system change, policy and advocacy investments, and direct support.
Leveraging CDFIs to Increase Wealth Generation and Equity
Outlines innovative strategies currently being utilized to position CDFIs as wealth building mechanisms and recommends how philanthropy can invest in CDFIs to narrow the racial and ethnic wealth gap through targeted investments to expand small business.
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The Asset Funders Network thrives on the practice of working together, where success isn’t the only measure of achievement, it’s about the journey of doing, learning, and passing on knowledge to others. With each passing year, we evolve, expand, and innovate, guided by the belief that the real value lies in our collective journey of discovery and action.
REV. CORY ANDERSON | The Winthrop Rockefeller Foundation and AFN Board Member
Informing Members on Emerging Issues
REALIZING ECONOMIC JUSTICE COMMUNITY OF PRACTICE
AFN launched its inaugural Realizing Economic Justice Community of Practice – a brave space for members to exchange emerging practices in support of race-conscious grant making.
YOUTH AND YOUNG ADULTS ROUNDTABLE DISCUSSIONS
AFN and the Aspen Institute Financial Security Project hosted a four-part, funder-only Roundtable Series on youth and young adult financial well-being.
Select Regional Highlights
Connecticut – Baby Bonds
Established in 2023, Connecticut AFN was an early champion of state Baby Bonds. Turning now to successful implementation strategy, AFN has developed partnerships with organizations like The New School to promote Baby Bonds across states in our region, lift up the model of Connecticut Baby Bonds to there philanthropic organizations interested in equity and asset building, and identify ways for philanthropy to continue to support equitable economic policy in the state.
Louisiana
In 2022, Louisiana AFN committed $1 million in direct funding to support a financial coaching cohort across the state, providing planning and implementation grants to 10 nonprofits. This funding focused on building emergency savings, particularly for ALICE households, in response to the increasing challenges posed by climate change and extreme weather events in Louisiana. While the initial investment was made in 2022, the effort has continued through 2024, fostering the development of a statewide financial coaching ecosystem.
