Dear friends, 

As a result of the restructuring process that Prosperity Now recently embarked on, the mission of closing the racial wealth divide is now at the center of everything we do. This centering on racial economic equity is now a guidepost that orients our organization and reminds us of the values we have committed to operating from.

This shift of focus that started in 2019 also better positioned us to respond to the upheaval and distress of the pandemic. This fall, we continue to sound the alarm on the urgency of supporting the communities that have been consistently excluded, and remain our country’s most vulnerable, especially in the face of what can be considered ongoing, multiple pandemics.

With the Infrastructure Bill and Build Back Better Act moving through Congress, we have an incredible opportunity to make historic investment in BIPOC communities. The funding in these proposals is critical for reducing child poverty, making affordable housing more accessible, and helping small business owners keep their doors open and boost our economy. Will you join us by telling your Members of Congress to pass these key pieces of legislation? Please help us by reaching out to your representatives today.

And last but not least, today we release our 2020 Annual Report! I invite you to take a look and see what we advanced and learned.  As you read about some of our victories, I hope you will reflect on the sentiment that drove them: a conviction that everyone deserves the chance to reach economic stability, build generational wealth and prosper. I also ask you to remain with us in the fight for justice. We have the power to make a difference and transform our current system in exchange for a more equitable society.

Your support is critical, your voice necessary, and your continued presence in the movement invaluable.

National Mortgage News: Democratic senators look to 'LIFT' first-generation homeownership, Doug Ryan, Senior Fellow and Interim Vice President of Policy & Applied Research

CNBC: A bipartisan financial literacy bill would give high school students $300 to start saving, Gary Cunningham, President & CEO

The U.S. Sun: High school students to get $300 each to start saving under new proposals, Gary Cunningham, President & CEO

Press & Guide: Peters introduces bipartisan PIGGY BANK Act to bolster financial literacy, Gary Cunningham, President & CEO

Portland Business Journal: Viewpoint: A potential 'game-changer' for BIPOC businesses, Gary Cunningham, President & CEO

CNBC: These key policy changes are needed to help Americans retire securely, experts say, Alejandra Montoya-Boyer, Director of Policy

Fast Company: America’s racial wealth gap is enormous and getting worse, Gary Cunningham, President & CEO

Just Released: Our 2020 Annual Report!

Prosperity Now’s work to drive change to build racial and ethnic economic equity is critical. During the onset of the pandemic, that became even more evident. In our latest Annual Report, we detail how Prosperity Now adapted creatively in response to the challenges brought on by the COVID-19 crisis and the murder of George Floyd. Prosperity Now was able to accomplish many important milestones and secure meaningful wins by pivoting projects to help LMI households adapt to the additional layers of economic hardship they faced. Read highlights and success stories from our core program portfolios, including Racial Wealth Equity, Asset & Wealth Creation, Entrepreneurship, and Policy. We offer our sincere gratitude to the generous corporate partners, foundation and non-profit funders, public-sector funders, and individual donors whose 2020 financial contributions made possible the work outlined in this annual report.

Prosperity Now is mobilizing resources and leveraging our network to maintain the robust funding that is currently proposed by Congress within the Build Back Better Act—landmark human infrastructure legislation using the budget reconciliation process. The budget resolution is an opportunity for a critical step for racial economic equity that would increase financial security, create economic opportunities, and provide a more secure safety net for millions of households in this country. Prosperity Now is calling on our network to use their voices to keep important programs that expand the Child Tax Credit, increase housing affordability and stability, boost small business opportunities and reduce the racial wealth divide in the final version of the legislation.

Reducing the Tax Gap: 5 Key Points on Information Reporting | Center on Budget and Policy Priorities (CBPP)
A new piece from the CBPP discusses the Biden Administration’s plan to reduce the tax gap and raise an estimated $700 billion over ten years. The revenue generated from this plan would be used to reduce child poverty, address climate change, and increase economic opportunity and security for families across the country.

Child Tax Credit or Guaranteed Income: What’s in a Name? | Prosperity Now
On September 15, millions of families received the third installment of the monthly Child Tax Credit (CTC) payments that began in July. The expansion of the CTC made the full credit available to 27 million children whose families' incomes were too low to qualify previously, including about half of all Black and Latinx children.

Unions Help Increase Wealth for All and Close Racial Wealth Gaps | Center for American Progress
Unions increase wealth for all households and provide a larger increase for Black and Hispanic households respectively, by raising incomes, increasing benefits, and improving the quality and stability of jobs.

Tracking the COVID-19 Economy’s Effects on Food, Housing and Employment Hardships | Center on Budget and Policy Priorities (CBPP)
A new report from the CBPP discusses the impact of the pandemic on household budgets and the economic fallout across the country.

Why Building Black Wealth is Key to Health Equity | Robert Wood Johnson Foundation
In a Q&A, Darrick Hamilton, the Henry Cohen Professor of Economics and Urban Policy at The New School discussed the impact of the racial wealth gap and its effect on health outcomes.

Where Are Families Most at Risk of Missing Out on the Expanded Child Tax Credit? | Tax Policy Center
This tool maps where children in families that did not file income taxes in 2019 or 2020 are most likely to live, which can help inform policymakers and community advocates working to connect eligible families to needed benefits.

Opportunity in the Crisis: Findings from a Year of Research on Renters in the Pandemic and the Programs Needed to Stabilize Them | Urban Institute| September 30, 2021

Wicked Cool Talks: Virtual | Financial Planning Association of Massachusetts | September 30

Addressing Seattle’s Racial Wealth Divide  | Prosperity Now| October 7, 2021
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Addressing Minneapolis' Racial Wealth Divide | Prosperity Now| October 12, 2021

MCAP 2021 Annual Human Services Conference: Using Racial Economic Equity to move from Transactional to Transformational Change | Maryland Community Action Partnership | October 13, 2021

Accelerating Social Transformation (AST) 2021: Extending the Common Good | University of Washington | October 13, 2021

Remaking the Economy: Economic Justice in Indian Country | Nonprofit Quarterly, First Nations Development Institute | October 14, 2021

Advocacy Guide | Prosperity Now
Check out this comprehensive tool to help you engage and mobilize your communities to take action! 

How to Use the Prosperity Now Scorecard | Prosperity Now