In 2019, the typical White family had 8x the wealth of the typical Black family and 5x the wealth of the typical Latino/a family.
In response to the recently published Menino Survey of Mayors, that highlighted how 67% of local leaders are worried about the racial wealth gap in their cities, AFN, together with The Rockefeller Foundation, offer a short brief that lifts up and outlines how Philanthropy can seize the moment in directing mayors towards the most impactful decisions for workers, families, and entrepreneurs of color.
4 Promising Avenues:
Capitalize on unprecedented private sector interest and public funding to eliminate inequities for Black and Latino/a small businesses.
Increase working families’ financial income and assets – The foundations of all other wealth building efforts.
Get community-building assets into the community’s hands.