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Race & Wealth Newsletter: August 2016

If you are interested in receiving timely updates about our new Racial Wealth Divide initiative, including this quarterly newsletter, sign up here.

Letter from CFED Racial Wealth Divide Initiative Director, Dedrick Asante-Muhammad

Dear Colleague,

On August 9, CFED and the Institute for Policy Studies published The Ever-Growing Gap: Without Change, African-American and Latino Families Won't Match White Wealth for Centuries. This new report shows how absent intervention, it will take Latinos 84 years to amass the wealth white families currently enjoy, while for African-American households, it would take an astonishing 228 years to amass the wealth whites have today. These findings highlight the challenges of growing economic inequality and seeks to help people understand the effects of the racial wealth divide, as well as which policies are needed to create better opportunity for people of color.
 

Since our last newsletter, we have attended or presented at the National Council of La Raza, NAACP, National Urban League and RESULTS conferences, to name a few. We also officially launched the Building High Impact Nonprofits of Color project, made possible thanks to generous support from JPMorgan Chase & Co., with our cohorts of nonprofits of color in New Orleans and Miami. Now we are in the process of building our cohorts for this project in Chicago and Baltimore, and will update you on our progress in the next newsletter. 

Finally, I look forward to seeing all of you at the upcoming Assets Learning Conference, September 28-30 in Washington, DC. If you haven't registered, it's not too late! Register by September 2 to join us for a range of sessions related to closing the racial wealth divide. Sincerely,

Dedrick Asante-Muhammad (@DedrickM)
Director, Racial Wealth Divide Initiative, CFED
facebook.com/DedrickM1

The report comes around the one-year anniversary of the launch of the Racial Wealth Divide Initiative, and what a busy year it has been. We now have four full-time staff and just said goodbye to our University of California summer interns. In our first year, we've reached a number of milestones, including the launch of our Race & Wealth podcast. Our most recent episode, “Race, Wealth and Women with Dr. Mariko Chang,” is definitely worth a listen.

Since our last newsletter, we have attended or presented at the National Council of La Raza, NAACP, National Urban League and RESULTS conferences, to name a few. We also officially launched the Building High Impact Nonprofits of Color project, made possible thanks to generous support from JPMorgan Chase & Co., with our cohorts of nonprofits of color in New Orleans and Miami. Now we are in the process of building our cohorts for this project in Chicago and Baltimore, and will update you on our progress in the next newsletter.

Finally, I look forward to seeing all of you at the upcoming Assets Learning Conference, September 28-30 in Washington, DC. If you haven't registered, it's not too late! Register by September 2 to join us for a range of sessions related to closing the racial wealth divide.

Dedrick Asante-Muhammad, Director, Racial Wealth Divide Initiative

www.facebook.com/DedrickM1

Twitter: @DedrickM

Lillian Singh, Associate Director, Racial Wealth Divide Initiative

Twitter: @lilliandsingh


America’s Racial Wealth Divide Is Nothing Short of Shocking

By Dedrick Asante-Muhammad and Chuck Collins; Originally published by The Huffington Post.
 

Most media coverage of racial injustice has understandably focused on our country’s unfair policing and criminal justice system. But to fully understand the current reality of racial inequality in America, we also need to take an honest look at our nation’s shocking wealth disparities.

Wealth—the total assets a family owns after the bills are paid—is the safety net we all need to help us get through the tough times and invest in our futures. And its polarization along racial lines is striking..Read more.


Racial Wealth Divide Updates

The Racial Wealth Divide Initiative team would like to thank our University of California summer interns, Holly Heafey (UC Santa Barbara) and Karishma Shamdasani (UC San Diego), for their contributions to our work over the last few months. We appreciate your hard work!

The Initiative is pleased to welcome our Miami and New Orleans cohorts of nonprofits of color. Learn more about these great organizations!

This summer has been a busy conference season for the Racial Wealth Divide Initiative team! Check out pictures on our Facebook page from our recent conference presentations.


Recent Podcasts

Race, Wealth and Women with Dr. Mariko Chang, featuring Dr. Mariko Chang, August 23, 2016

A History of the Racial Wealth Divide with Kilolo Kijakazi, featuring Kilolo Kijakazi, August 9, 2016

Race, Wealth and 21st Century Housing with James Carr, featuring James Carr, July 26, 2016.

Race and Wealth and Entrepreneurship in Florida with Torey Alston, featuring Torey Alston, July 12, 2016.


Upcoming Events

Join 1,300+ professionals working to build an opportunity economy at the 2016 Assets Learning Conference, taking place September 28-30, in Washington, DC. To learn more about the conference and how to register, click here. Register by Friday, June 24 to get $100 off the cost of registration!


Resources & Publications

The Ever-Growing Gap,CFED, Institute for Policy Studies

"Understanding the Economic Challenges of Asian Americans," Huffington Post, Lillian Singh and Karishma Shamdasani

"3 Reasons Why the American People are Numb to the 'Economic Recovery'," Huffington Post, Dedrick Asante-Muhammad and Holly Heafey

"Race, Wealth and Disability in America," Huffington Post, Dedrick Asante Muhammad and Micahel Morris

[Webinar] Policies, Partnerships: Coming Together to Heal the Racial Wealth Divide, CFED

Practitioners Discuss Challenges, Opportunities for Entrepreneurs of Color in Webinar, CFED, Diego Quezada

"The Next Battle for Black Lives Matter: Economic Justice," CNN Money, Tanzina Vega

Overlooked but Not Forgotten, Center for Global Policy Solutions

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