Puget Sound AFN is a regional network of grantmakers—private, public, corporate, and community foundations—who invest in policies, programs, changes in practices as well as financial products as tools to confront the roots of inequities and create change. We view the concept of assets broadly to include issues such as health, employment, business ownership, housing, post-secondary education, and public and private debt. In this way, AFN accounts for multiple interrelated dimensions of assets for the household as well as community and intergenerational family wealth.
We believe targeted wealth generation is an essential component of racial justice. In 1865, the promise of 40 acres and a mule — an idea generated by Black people and promised by General Sherman and then President Lincoln — intended both reparations for the harm of slavery and a means to freely build wealth and pass it on to the next generation. The quick abandonment of that order is one example of a legacy of broken promises and unequal treatment that lives on in the present day widening of racial wealth disparities and other racial disparities. So too does the work to fulfill its promise for true equality, freedom, and justice.
How We Work
Over the next 24 months, Puget Sound AFN will convene regularly to learn together, act, and invest to uphold modern ideas of 40 acres and a mule by preventing further harm from the continuous generational loss of wealth and to purposefully build wealth for Black, Indigenous, and other people of color and immigrant and refugee communities. Acting together in this capacity, we advance thriving communities throughout our region. Join Us
Our collective pathway will support varied funding approaches and issue priorities. Initially we will:
- Grow our coordinated network of funders advancing racial economic justice by addressing root causes of wealth disparities. Philanthropy plays a critical role in generating capital flow and seeding big ideas.
- Shift narratives of wealth and power by making visible the hidden and unwritten rules that support white privilege and hold people from other communities back, and developing narratives that catalyze public will for changes that promote equity.
- Identify and support initiatives that help change the rules to advance racial and wealth equity.
Puget Sound Grantmakers interested in joining this collaboration should contact Annette Case at Annette@assetfunders.org.
Are you a Puget Sound area grantmaker interested in joining this chapter? Contact us to learn more.
Annette Case, email@example.com
On November 19, 2020, Puget Sound AFN, in partnership with the Washington State Budget and Policy Center, met to discuss how the racialized history of our state property and sales tax creates wealth advantages for some while extracting wealth from and further disinvesting in Black, Indigenous, and other People of Color as well as low income households, continuously widening wealth inequities.
We discussed promising solutions on the table for the next legislative session designed to change the structure for greater equity while generating needed revenue to invest in our communities. We also provided opportunities for philanthropy to support immediate system changes as well as help build for a redesign of the tax code over the longer term to support racial wealth equity.