From the Editor

Dear Community Partners,

We want to start by offering our condolences to the Floyd, Taylor and Arbery families. We also want to acknowledge that many of you may be working through pain, as we are, from the consistent acts of racial injustice and violence that have plagued our country for centuries. Prosperity Now is an anti-racist organization, and we exist to eradicate poverty for all by working to build and protect assets for families. All of our missions that work toward economic justice and opportunity are critical, as we have not witnessed this level of widespread national unrest since the assassination of Dr. Martin Luther King in 1968. Dr. King was murdered fighting for poor and working-class families, and we will continue to carry that torch with forty-six percent of this nation (140 million Americans) living in poverty. We have long experienced a pandemic within a pandemic and could not do this work without your allyship and partnership.

We reflect on President Obama’s words from 2013 when he was honoring the 50th anniversary of the civil rights movement:

“The men and women who gathered 50 years ago were not there in search of some abstract idea. They were there seeking jobs as well as justice. Not just the absence of oppression, but the presence of economic opportunity. For what does it profit a man, Dr. King would ask, to sit at an integrated lunch counter if he can't afford the meal?... The test was not and never has been whether the doors of opportunity are cracked a bit wider for a few. It's whether our economic system provides a fair shot for the many, for the black custodian and the white steel worker, the immigrant dishwasher and the Native American veteran."

If you’d like to take action with us, here are two things you can do now:

Sign up to take action in our online advocacy center and join one of our policy campaigns [[link removed]], like the Right Side Up Tax Reform Campaign which is focused on bringing equity to the largest public financial structure (our tax code) that redistributes wealth in our country. Reach out and connect with a coalition or network near you to link arms. Here’s our 93 state, local and tribal Community Champion coalition partners [[link removed]] advocating and working for economic change in their communities.

In addition, check out our resources on racial wealth equity [[link removed]], like

COVID-19: New Crisis, Same Story [[link removed]] Taxes and the Racial Wealth Divide: How the Tax Law Leaves Households of Color Behind [[link removed]] Downpayment on the Divide: Steps to Erase Racial Inequality in Homeownership [[link removed]]and Designing a Way to Equity [[link removed]]

If you have ideas or items you’d like to see featured in future Community Bulletins, or action items you’d like to share with the Community, send them to us at [[email protected]].

In community,

Gary Cunningham, President & CEO

Karen Chevalier, Interim Chief Operating Officer

Cherie Collins Sims, Chief Strategy & Innovation Officer

David Newville, Vice President, Policy & Research

Frances Rosebush Baylor, Vice President, Partnerships & Field Engagement

Lillian Singh, Vice President, Programs & Racial Wealth Equity

Caryn Sweeny, Chief Philanthropy Officer

Highlights

Massachusetts Coalition Partners Shift Savings Programs to Provide Emergency Cash Distributions

Community-based organizations across the country have had to reconsider their programming as the COVID-19 pandemic has led 40 million American workers to file for unemployment insurance since March. A Massachusetts Community Champion, the Midas Collaborative [[link removed]], has supported its partners in shifting matched savings programs to emergency distributions in order to serve their clients’ current needs. As of mid-May, Midas’ partners processed and distributed $54,000, which helped clients fill gaps in federal benefits to cover emergencies and necessities. Prosperity Now interviewed the Executive Director of the Midas Collaborative, Kimberly Hirsh, to learn more. Read more. [[link removed]]

Saint Paul’s African American Leadership Forum Advocates for Housing Policies to Protect Vulnerable Renters

In Saint Paul, MN, the African American Leadership Forum (AALF), along with organizations such as Frogtown Farms [[link removed]], HOME Line [[link removed]] and West Side Community Organizations [[link removed]], worked closely with the City of Saint Paul to spread awareness about a housing ordinance proposal titled S.A.F.E. Housing Tenant Protections [[link removed]]. Prosperity Now spoke with AALF Program Director LaCora Bradford-Kesti to learn more about their advocacy efforts. Read more. [[link removed]]

Practitioners Share How They are Meeting Community Needs During the COVID-19 Crisis

Most members of the Prosperity Now Community have had to quickly adjust their work to meet the needs of their clients and their staffs. So, as a follow up to the Community Listening Sessions [[link removed]] we hosted in March, we hosted the Network COVID-19 Engagement Series [[link removed]] in April and May to learn how organizations on the ground have made changes in response to the COVID-19 crisis. Despite differences in issue areas across our eight Networks, we heard common themes from partners throughout the series. Read more. [[link removed]]

Resources from Across the Community

What States Should Do: Stabilizing Consumer Finances During the Coronavirus Crisis [[link removed]] | National Consumer Law Center

This brief describes measures states can take to protect consumers during the COVID-19 pandemic.

On the Margins: Economic Security for Women of Color Through the Coronavirus Crisis and Beyond [[link removed]] | Closing the Women’s Wealth Gap

This report reviews recent coronavirus relief packages and analyzes the benefits and implications for women of color.

EITC Public Health Action Guide [[link removed]] | CDC Foundation

This guide demonstrates how federal and state Earned Income Tax Credits (EITC) is a viable policy solution to ensure low-income families retain more money and how this can improve health outcomes.

Building Community Capacity from a Distance: Four Lessons from Resident-Led Housing Solutions [[link removed]] | Urban Institute

The Urban Institute shares lessons learned from housing organizations receiving technical assistance interrupted by the COVID-19 pandemic, and how the organizations adjusted their work to serve clients.

The Cascading Impact of COVID-19 on Microbusinesses and the U.S. Economy [[link removed]] | Prosperity Now

This report explains why vulnerable microbusinesses have had trouble getting access to financing and how the COVID-19 pandemic has exacerbated the problem.

Protecting Your Finances During the Coronavirus Pandemic [[link removed]] | Consumer Financial Protection Bureau

This page provides up-to-date resources for consumers on topics such as mortgage and housing assistance, unemployment benefits, small business guidance and more.

Innovation Spotlight: Direct-to-Consumer Solutions to Ease the Financial Hardships of COVID-19 [[link removed]] | The Financial Health Network

The is a comprehensive list of fintech resources curated for consumers related to debt management, financial coaching, and savings.

Opportunities and Events Opportunities

Rural Local Initiative Support Corporation (LISC) has been approved as a USDA Community Facilities Re-lender. It is offering technical assistance, predevelopment grants and grants to Rural LISC partners organizations. Learn more here [[link removed]].

Events

Webinar: Prosperity Now Mindfulness Mondays [[link removed]] | Prosperity Now | June 1 & 8, 2020

New Crisis, Same Story! Highlighting the Innovations to Racial Economic Inequity from Leaders of Color [[link removed]] | Prosperity Now | June 3 – August 5, 2020

Land Banks, Land Banking Programs and COVID-19: Strategic Consideration for a Long-Term Equitable Recovery [[link removed]]| Center for Community Practice | June 4, 2020

Introduction to Change Machine – Public Demonstration [[link removed]] | The Financial Clinic | June 4, 2020

Save the Date: Virtual 2020 Prosperity Summit [[link removed]] | Prosperity Now | September 30 – October 2, 2020

Policy Updates

Small Businesses: Introducing the Page 30 Coalition

Prosperity Now is a founding member of the Page 30 Coalition [[link removed]], a partnership whose mission is to make sure that underserved small businesses, especially minority-owned small businesses, get their fair share of COVID-19 relief funding. Read more. [[link removed]]

COVID-19 Emergency Legislation

U.S. House Democrats have introduced their vision for what a fourth coronavirus emergency legislative measure should be. Titled the “ Health and Economic Recovery Omnibus Emergency Solutions HEROES Act [[link removed]]”, or “HEROES Act”, the $3 trillion package includes extensions of the unemployment support provided through the CARES Act, additional Economic Impact Payments and temporary expansion of the Earned Income Tax Credit that are intended to help mitigate the impact the crisis has had on individuals, families and workers and support the recovery ahead. Read more. [[link removed]]

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