loanDepot’s Post

Although Black women make up less than 10% of the U.S. population, we have become the fastest growing demographic of #entrepreneurs. I believe the #burnout that many of us experience in corporate culture is pushing us to branch out on our own. Black women face many barriers to success, particularly when it comes to raising funds. Black business owners applying for funding have a rejection rate 3x higher than that of White business owners, which has in turn has resulted in many (61%) Black women being forced to self-fund their #startup capital. How can we work to fix this? Support Black women-owned businesses, address bias in funding, and improve #DEIB in the workplace.

🌍 Closing the Racial Wealth Gap: Philanthropy's Crucial Role 🌍 Today, white households at the median hold six times the wealth of Black households, five times the wealth of Hispanic households, and more than 10 times the wealth of Native American households. Addressing this gap can boost our economy by trillions. Philanthropy can lead the way by scaling up interventions that ensure wealth access for marginalized communities. This article by The Bridgespan Group five key drivers of the wealth gap and offers impactful solutions. 🔹 Family Inheritance: Baby bonds 🔹 Income & Benefits: Employee ownership models 🔹 Homeownership: Community-anchored affordability 🔹 Debts & Fees: Community lending 🔹 Entrepreneurship: Equitable investment capital 📖 Read more: https://lnkd.in/e9sKsGKK #Philanthropy #RacialWealthGap #GivingCompass #Impact #Equity #TheBridgespanGroup #SocialChange #DonorEducation

Keynote panel discussion with InnovateHER KC 2023.

We recently facilitated a series of workshops with AARP Foundation, holding space for a cohort of staff to interpersonally, communally, organizationally, and sectorally look at their work through the context of equity to more deeply fulfill their mission. In this last session, the cohort shared parts of its drafted equity charter and began to unpack the charter’s guiding principles by aligning them with potential commitments and outcomes. While this was the last workshop in the series, there is a plan and momentum to continue moving forward. Because charter is both a noun and a verb. ➡️ As a noun, the charter will provide a specific unified vision and framework for the role of equity in the Foundation. ➡️ As a verb, the act of chartering will allow staff to be grounded, aligned, and shift the culture of the Foundation to be more equitable internally which will influence how equity can be operationalized externally. Thank you to every Foundation staff participant for your care, consideration, vulnerability, transparency, graciousness, and your hunger for change. Our world will be better because of it. AARP Foundation imagines a future without senior poverty. Can you imagine the seeds of change that have been planted as each team member continues working towards this vision with a clearer lens of racial equity?  We can! It’s a dreamy future, indeed. And a warm shoutout to our internal team Macaire Eidson, M.Ed, NBCT, Victor Valenzuela, Emily Norton (she/her), Carmen Simon, Leslie Knepp, MPH, and Bianca B. for their partnership with the workshop cohort. #RacialEquity #SystemsChange #Philanthropy #Foundation #EquityCharter

For Safety Reasons, We Can’t Post Pictures of Our Staff. It’s The Nature of Our Work. So Here’s My Smile In Our Office For What Matters Most To Me: #Talent. The for profit sector has a bottomline. The nonprofit has a double bottomline. And I believe when you have double lines to achieve—you better advocate hard for those who matter most. So we flipped the script on last year’s inflation and exhaustion of needs—we set a vision that in 2024 that ALL STAFF GET RETENTION BONUSES! We have nearly a 100 staff. Results? I’m smiling because we just greenlit for everyone. People work hard and they deserve retention bonuses. And market corrections. And merit raises. All of that is happening. The nonprofit sector is filled with talent. And I’m so grateful for the talent in our region and the INCREDIBLE talent at Women Helping Women of SW Ohio. #talent #retention #employeeengagement #leadership #abundancemindset #equity #advancement #inclusion #teamappreciation

As I reflect on the remarkable journey of the Twin Cities GroundBreak Coalition, which has successfully mobilized a groundbreaking $1 billion to address racial equity, I’m struck by the sheer potential of collective impact and strategic vision. This isn't just a win for the Twin Cities; it's a clarion call to communities everywhere that change is possible. The coalition’s approach, marrying ambitious financial targets with cross-sector collaboration and deep community engagement, offers a template for systemic transformation. In Milwaukee, where the echoes of segregation still influence economic disparities, especially within the African-American community, there's much we can learn and apply from GroundBreak’s model: Set Bold, Measurable Goals: GroundBreak’s aim to raise $5.3 billion over a decade for racial equity initiatives demonstrates the power of setting bold targets. Foster Broad Coalitions: The coalition’s strength lies in its more than 40 corporate, civic, and philanthropic partners. Milwaukee could similarly benefit from uniting diverse stakeholders around a common cause. Commit to Community Engagement: Solutions are most effective when they emerge from the community's heart. GroundBreak’s active community engagement ensures their strategies are grounded in real needs and aspirations. Innovate Financial Tools: The coalition’s financial tools, like down payment assistance and start-up loans, can be a template for creating equitable growth in Milwaukee. Prioritize Systemic Change: Beyond short-term projects, GroundBreak’s focus on long-term systemic change is something we need to mirror to address the structural roots of economic disparities. The time for change is now. Let’s take inspiration from our neighbors and work towards a future where economic prosperity is accessible to all in Milwaukee. I welcome thoughts from my network: How can we collectively foster this level of change in our community? What steps can we take today to build a more equitable tomorrow?

Today at 2 pm EST, I’ll be debriefing a year-long case study: I.D.E.A. into Action with Terri Wingham, CEO of the nonprofit, A Fresh Chapter. If you've ever wondered how a small nonprofit might take action on inclusion, diversity, equity, and accessibility (I.D.E.A.), I invite you to join us. Recent data from Nonprofit HR shows that 53% of nonprofits have a statement in support of Diversity, Equity, Inclusion, and Justice, yet 39% have a strategy to support it. From here, only 38% have funding to support their strategy. And yet, many nonprofits have a mission to serve the broader community - people from various racial, ethnic, and gender identities, sexual orientations, abilities, and more...and they struggle to do so. Our initial questions were: * How can a small nonprofit turn I.D.E.A. into Action? and, * Is there a model that could be created (and replicated) that would help more nonprofits do the same? We learned a lot, and look forward to sharing. A huge thanks to Gilead Oncology and Genentech for their generous funding of this work. If you can’t join us live, I invite you to register and catch the replay. I hope to see you there! #Project2043 #healthdisparities #IDEAintoAction https://lnkd.in/eDp88B2G

As levels of inequality in the US soar, the racial wealth gap is a chasm. This new article from my colleagues at Bridgespan shares opportunities for philanthropic and private investors to help close that gap that are high-leverage and immediately investable. Please take a look and let me know your thoughts!

As levels of inequality in the US soar, the racial wealth gap is a chasm. This new article from my colleagues at Bridgespan shares opportunities for philanthropic and private investors to help close that gap that are high-leverage and immediately investable. Please take a look and let me know your thoughts!