The latest updates from Prosperity Now and the racial economic justice field.
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Dear John,
Halloween is right around the corner, and as we plan our clever and perfectly obscure costumes, we are reminded that there is nothing quite as scary as families not having access to what they need to make ends meet. From advocating for solutions like Baby Bonds to secure children’s financial futures to improving the ecosystem for more entrepreneurs of color to grow their businesses and thrive, we’re brave enough to go for the big change required to create an economy that works for everyone.
This is an exciting time of the year for many reasons. For some, it’s the time of year to get the candy bowl ready for trick-or-treaters and for others, it’s skipping right to putting up your cozy fall décor. It's also the season we celebrate the many contributions Latines make to our society and shared economy. Here are a few efforts Prosperity Now led during Latine Heritage Month: we shared the pay disparities Latinas face in the workforce [[link removed]], led a discussion on how to better support Latine-owned businesses [[link removed]], and examined workforce conditions for Latine workers around the country [[link removed]].
We were also reminded of how our vision for an economy that works for all families is one shared by our champions in Congress at The Champions of Community Development Awards Reception we co-hosted with the Local Initiatives Support Corporation. I was honored to present an award to Rep. Bonnie Watson Coleman who echoed our shared vision in her role as a Congresswoman.
As we get closer to year-end, I can’t help but reflect on all the ways that the Prosperity Now Community has shown up this year—advocating for Baby Bonds on the hill and online, digging into the Volunteer Income Tax Assistance (VITA) program at VITACon 2023 in Pittsburgh, and helping us become a 2023 Fast Company Brand That Matters. [[link removed]] Together, we’re a force to be reckoned with.
Finally, I would like to personally invite you to join Prosperity Partners [[link removed]?], our brand-new monthly giving program where individuals from the Community show their support for racial economic justice every month. As a bonus, if you sign up soon, you will get a tote bag as a special thank-you from Prosperity Now!
As always, we’re so grateful you’re here as part of our fight for racial economic justice. Read on for more on what the Prosperity Now crew has been up to and what we have in store for you!
In Solidarity,
Cherie Collins Sims, PhD
Interim President and CEO
On Latine Homeownership and the American Dream [[link removed]]
Latine Heritage Month may be behind us, but our work to make the economy work for all, including the Latine community, continues. In a new blog, we examine how the notion of homeownership in the American Dream for Latines plays out differently than for other racial and ethnic groups. For example, whether out of necessity or culture, Latine households [[link removed]] are larger and more multigenerational than their non-Latino counterparts. Because of this, many Latinos may seek larger, more costly homes, but also may use multiple sources of income to pay for them.
The Black Wealth Data Center’s Racial Wealth Equity Database datasets [[link removed]] detail and reveal variations in homeownership rates, median income, and net worth among Latinos overall, as well as among subsets of Latines, a group that is often homogenized. Using this data, this blog explores these differences and where possible, identifies any connections or opportunities for further investigation.
Read the Full Blog Here [[link removed]]
“I am compelled to leverage my voice and the advantages I have been granted to work toward a society where everyone has the opportunity to define, achieve, and enhance their family’s economic security.” [[link removed]]
- Bonnie Tiernan of Crisis Assistance Ministry, a Prosperity Now Community Champion [[link removed]]
Meet Our Community Champions: Crisis Assistance Ministry
Prosperity Now Community Champions are key leaders in communities across the country that serve as our organizational partners in advancing strong and effective programs and policies at all levels of government. For more on Community Champions, click here [[link removed]].
Crisis Assistance Ministry [[link removed]] has been a long-time Prosperity Now partner working to close the racial wealth gap in Charlotte, North Carolina. We interviewed Bonnie Tiernan, the organization’s Civic Engagement Manager to learn more about the organization, its successes, and challenges.
Read More Here [[link removed]] Tax Talk and Manifesting Future Success at VITACon 2023
This past September, we and 200+ of our favorite tax pros took over the City of Bridges (Pittsburgh, PA) for VITACon’23. After three days of talking nothin’ but taxes, the conference is in the books; however, we couldn’t convene the greatest minds in community tax prep without talking about what the future holds.
In our closing session, we dared to ask: what is a headline you’d like to read in the future about the Volunteer Income Tax Assistance and Tax Counseling for the Elderly (VITA/TCE) Programs? Their answer?
“VITA Reports Too Many Volunteers!” Read More About How the Tax Prep Field is Making It Happen [[link removed]] Where Are They Now: Former Entrepreneurs Edition
As we create an ecosystem for current and aspiring entrepreneurs to thrive, we realize that there's one group that isn't really talked about: former entrepreneurs. In a new report, our Director of Applied Research, Annette Jacoby, digs into these individuals' experiences, uncovering the stark disparities in profit and loss outcomes between White and minority former business owners.
Read the Full Report [[link removed]]
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