Wealth – what you own minus what you owe – is critical to basic economic security and also creates economic opportunities. It is a nest egg to draw on during hard times. It acts as the fence between temporary setback and economic catastrophe that families have been building for generations.
Over the course of the initiative, we embarked on five strategies to realize our vision and meet our longer term goal of creating the environment for the enactment of new wealth-related policies that are targeted and universal:
- Produce groundbreaking research that helps us better understand dimensions of the racial wealth gap to help inform policy and practice;
- Build and support an Experts of Color Network to inform policymaking to ensure asset policies reflect the leadership of people of color and are sensitive and respectful of diverse ethnic cultures;
- Implement a comprehensive and strategic media approach to educate the public about the racial wealth gap and reframe discourse on race and wealth;
- In conjunction with the Federal Reserve Board of Governors, create the environment for policy development and advocacy to ensure policies reflect the needs of communities of color; and
- Increase the capacity of state coalitions to address the racial wealth gap by working with them to account for racial disparities in their asset building policy efforts