The Asset Funders Network 2021 Annual Report shares a high level review of our work last year.
The Asset Funders Network is pleased to share our 2021 Annual Report. AFN continues to actively engage philanthropy and stakeholders to advance equitable wealth building and economic mobility.
The AFN team is grateful and humbled by the continued engagement and support from our growing membership and partners to exchange ideas, plan relevant and innovative investments in communities, and help fashion approaches to impact economic inequity and improve mobility.
Report Highlights
Engaging over 130 institutional members investing in asset building across the U.S.
54 learning opportunities
advancing the latest insights and strategies from the field
46 national and regional webinars and events convened
8 unique issue based research publications produced
Partnered with more than 110 thought leaders on events and publications
Mobilized 92 unique organizations to collaborate on 28 jointly funded initiatives
National Snapshot
Realizing Economic Justice
Systemic racism and bias across multiple systems are the key drivers of the racial wealth gap. Philanthropy has a unique opportunity to confront racial bias in philanthropic impact. AFN launched Realizing Economic Justice: Confronting Racial Bias in Asset Building Philanthropy, a platform offering a series of activities, educational offerings, and programming, to present funding strategies and philanthropic practices that members can use to confront and address racial bias in economic security and asset-building philanthropy.
This webinar series elevates thought leaders who are trailblazing the examination of racial equity through asset building. Developed for both funders and nonprofits, this virtual seminar series spotlights the latest ideas and learnings for intentionally advancing and aligning equity and economic justice.
Recognizing that organizations led by people of color often lack equitable connections to philanthropic funding, Equity Amplifier is a monthly series that showcases organizations led by people of color and focuses on building economic security in communities of color.
National Network with a Local Presence
Leading regional chapters, coordinating place-based efforts, and representing the sector across the country where funders came together to learn and collaborate on issues of local importance and priority.
Regional Highlights
New Mexico AFN
Leading a family economic security pooled fund developed directly with Native American communities. The structure enables regional and national funders to work directly with local foundations pursuing place-based strategies and provides opportunities for participatory grantmaking stewarded by Native American leaders.
Bay Area AFN
Developed an online mapping tool highlighting vulnerable businesses owned by people of color. The Bay Area Small Business Vulnerability Mapping Project deepens understanding of where Black, Latinx and people of color owned businesses are most vulnerable and of the policy level solutions to support longer-term viability and health
of these businesses. The multistage process was developed in partnership with the Urban Displacement Project and also explores the feasibility of a permanent infrastructure for collecting data, monitoring business health, and recommending policies.
Place-Based Insights
Systems Change
Advocating for changes in public policy is often a critical part of reimagining systems to achieve equitable wealth building, economic opportunity, and economic mobility. Across our regions, AFN is working with grantmakers to advance policies that build a healthier and more equitable society.
In an effort to support the financial health of ALICE (Asset Limited Income Constrained Employed) Arkansans, Arkansas AFN led a campaign for a state Low Income Tax Credit as part of Governor Asa Hutchinson’s special session on tax reform in December 2021. The effort included coordinating stakeholder groups and narrative
change, resulting in the enactment of a low income tax credit and lower wage tax reform, impacting over 800,000 taxpayers who make between $23,000 and $82,000. The average ALICE household with two dependents will see more than $200 in benefit from the tax package.
