New opportunities, resources and more from Prosperity Now
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Dear John,
Spring is a time for transformation, and the economic systems transformation we are collectively driving has the potential to change the economic reality of generations to come. From our work to advance Baby Bonds as a wealth-building policy solution positioning children for future financial success to our critical partnerships with Volunteer Income Tax Assistance (VITA) sites through our Taxpayer Opportunity Network, our impact is clear. We’re here to create an economy that works for everyone, and we know that solutions are not one-size-fits-all.
April is also blooming with opportunities to explore how tax, housing and other economic systems interact to affect our economic wellbeing. We know systems transformation is required for us to have true control of our financial lives as we commemorate Financial Capability Month. And Fair Housing Month reminds us that having access to safe, stable and affordable housing is foundational to economic mobility.
Read on to learn more about the opportunities, resources and exciting announcements that we have in store for you this month and beyond!
In Solidarity,
Gary Cunningham
President & CEO
Prosperity Now
Last Chance to Apply for Our New Pilot Design Lab: Strengthening Black Women Entrepreneurship in Retail
With support from Walmart, Prosperity Now will be accepting proposals through April 30th from CDFIs and Entrepreneurial Support Organizations (ESOs) who currently work with Black women entrepreneurs. The objective of this pilot is to understand testable strategies for facilitating mergers and acquisitions in the retail space for Black women entrepreneurs and strategies to support sustainability and scalability for the targeted population. Participants will receive a $50,000 stipend and technical assistance to participate in the design lab and pilot phase of this project.
Supporting Black Entrepreneurs Through CDFIs: A Playbook for Long-term Growth
BIPOC-serving Community Development Financial Institutions (CDFIs) and entrepreneurship-serving organizations are vital in supporting entrepreneurs who are often overlooked, especially entrepreneurs of color. These organizations are best positioned to implement strategies, or partner with others in the ecosystem to, strengthen technical assistance, improve access to capital and bridge the economic opportunity gap facing both service providers and business owners. With Wells Fargo support, Prosperity Now found five high-impact CDFIs that serve Black entrepreneurs to understand their current resource gaps, visions for the future, and everything in between to co-create a Playbook outlining capacity-building opportunities for CDFIs and their communities.
Want to learn more about how CDFIs can be a game-changer for BIPOC entrepreneurs and help advance racial economic equity? Register for our Learn & Grow Webinar series! Running from May 3 to May 17, we’ll dive into the financial challenges CDFIs face, strategies for long-term planning, and tools to maximize community impact. Don’t wait to register!
The Latino Economic Development Center: Securing Stable Housing through Community Empowerment and Advocacy
For 32 years, the Latino Economic Development Center (LEDC) has been driving the economic and social advancement of low-middle-income Latinos and other underserved communities in the Washington D.C. area and Puerto Rico. By educating individuals and fostering community collaboration, LEDC uses direct assistance and empowers people to advocate for themselves in issues relating to housing, small business, and direct community investment.
This month, we had the privilege of speaking with Emi Reyes, the Executive Director of the Latino Economic Development Center. Originally from DC, she has been immersed in Latino communities and the issues they face since childhood. She also has an expansive work history in organizing and advocacy. To honor National Fair Housing Month, we mostly spoke with Emi about the housing work LEDC is doing in the community.
Celebrate Prosperity Now’s Most Signed Advocacy Letter Ever!
This month, Prosperity Now and United Way Worldwide partnered once again to push for increased funding for the Volunteer Income Tax Assistance (VITA) program in fiscal year 2024. Our petition letter - which calls for $45 million in funding for FY24 - received a record 180 signatures from organizations across the country. Thank you to all who were able to sign on. If you'd like to take additional advocacy actions on VITA or our other policy priorities, visit the Prosperity Now Advocacy Center.
What's New from Prosperity Now and the Field
A Tale of Two Southern Cities: Reporting from Savannah and Memphis | Prosperity Now
Prosperity Now, with support from Bank of America, sought to understand and address the structural and resource inequities that BIPOC-led and serving nonprofits face. Read about the Racial Economic Equity Fellowship featuring organizations from Savannah and Memphis.
Mission-Related Investments to Advance Racial Equity and Justice | Urban Institute
This brief explores how federal policymakers can encourage private foundations to make greater use of funds they have allocated to mission-related racial equity investments.
Minding Our Business: Investing in Women Entrepreneurs Gets Us Closer to Economic Justice | Prosperity Now
Black women have been leading in the creation of new businesses and start-ups over the past few years and we must recognize the barriers they have overcome and how we can remove them for good.
Fair Housing Month Resources | U.S. Department of Housing and Urban Development (HUD)
To celebrate the 55th anniversary of the Fair Housing Act (FHA), HUD put together this page with resources on technical assistance, outreach, and more on the FHA.
Are You Joining Us?
Webinar: Human Service Power Brokers: Using ARPA to Drive Racial Economic Equity | Prosperity Now | Thursday, April 20, 2023
Webinar: Prosperity Summit Encore: Maximizing Community Impact: Scaling VITA Services with Self-Preparation | Prosperity Now | Tuesday, April 25, 2023
Webinar: Learn and Growth Series: Strengthening Black and BIPOC Entrepreneurship Serving CDFIs | Prosperity Now | Wednesday, May 3, 2023
Webinar: 2023 Tax Season Debrief | Prosperity Now | May 4, 2023
ICYMI
Webinar Recording: From Small Beginnings to Great Heights: Children's Savings Accounts' Phenomenal Growth | Prosperity Now
Recording: Briefing on Massachusetts Baby Bonds Legislation | Massachusetts Office of Economic Empowerment
The Pulse on Prosperity Now
AL DIA News: SBA implements rules to address gaps in access to capital, Prosperity Now
Yahoo! Finance: Many Americans thought they were getting a bigger tax refund, study finds, Joanna Ain, Associate Director of Policy
Yahoo! Finance: Tax refunds are $372 smaller on average this year, Joanna Ain, Associate Director of Policy
P&G: Secret Deodorant Launches Initiative Empowering Women to Achieve Financial Wellness, Prosperity Now
