Special Initiatives

Advancing Racial Wealth Equity in Greater Boston

Striving toward systems change to advance racial wealth equity

Black Economic Council of Massachusetts

Building community wealth is perhaps one of the most important levers to advancing racial equity.

For centuries, systemic racism and oppression deliberately codified through policy and advanced in practice has prevented Black people and other people of color from realizing their full potential for wealth creation in America. At the heart of centering racial equity is a recognition that we must address systems that have limited the creation of wealth in these communities. To do this, we are expanding the Barr Foundation’s grantmaking to organizations working to advance racial wealth equity in Greater Boston.

Racial wealth equity is achieved when all people, regardless of race, have a fair shot at opportunities to build wealth for themselves, their families, and their communities.

Barr’s Racial Wealth Equity Initiative aims to remove barriers by transforming systems, policy, and narratives to build wealth in communities of color. We focus on the Greater Boston region. Yet we are also open to learning about colleagues engaged in similar efforts in Fall River, New Bedford, Lawrence, Lowell, Brockton, and Randolph.

Strategies

While there are many approaches to advance wealth creation for all communities, Barr focuses where we see high potential to influence systems change:

  1. Increasing access to capital: Barr’s Racial Wealth Equity Initiative supports partners working to shift policies to make it more viable for people of color to become homeowners and entrepreneurs, and partners working to provide access to capital and mitigate financial challenges, in ways that can inform new policies and systems for individuals and community assets can be further developed within communities of color.

  2. Advancing pathways to high-road jobs: “High-road” jobs are those where employees have access to higher wages, predictable annual income, opportunities for advancement, and benefits such as health insurance and retirement. Through this strategy, we aim to support the “invisible workforce”—adults in communities of color who are either in low-wage jobs and/or could benefit from opportunities like workforce development and training to gain access to high-road jobs. We seek partners who are interested in innovative, culturally-competent workforce development to increase diversity within high-road industries. Given Barr’s Climate Program, we have a particular interest in the rapidly growing clean energy industry.

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What we fund

Within the strategies outlined above, we seek to support efforts that incorporate one or more of the following approaches:

  • Advocacy and organizing for systems change. We seek partners using grassroots power building or advocacy to advance new public policies and institutional practices that remove barriers and create opportunities for wealth building in communities of color. This includes partners already doing advocacy and organizing, capacity-building organizations that strengthen related skills (such as field development), and others who are invested in building this capability.

  • Narrative and strategic communications. This work also requires that we work to shift mindsets, deepen understanding of root causes and potential solutions, and to inspire civic action. We seek partners who are poised to engage in strategic communications and narrative work as a key driver.

We acknowledge that the vision for racial wealth equity can only be realized through concerted and aligned efforts spanning many sectors. That is why collaboration, coalitions and networks, and collective action are fundamental to how we engage, and to the kind of work we seek to support. We also understand that one of the most important roles a funder can play is to provide flexible operating and capacity-building support, and then get out of the way – ensuring that the organizations closest to communities, challenges, and solutions can lead.

What is systems change?

The Social Justice Partners of Los Angeles offer a definition of systems change that resonates with our thinking for Barr's Racial Wealth Equity Initiative:

Systems change [is] work that tackles the root causes of pressing social problems. As distinct from direct service work, systems change initiatives:

  • acknowledge the complex, interrelated political/social/economic factors contributing to a social problem, and
  • create change in underlying inequitable structures by shifting policies, processes, resources, mental models, and power structures.

Grantmaking

Barr has awarded over $25 million in grants through this special initiative.

To explore all Racial Wealth Initiative grantmaking, visit our grants database via the button below.

Racial Wealth Equity Initiative grantmaking

Meet our Racial Wealth Equity Team

We are actively seeking to engage with new partners who share our aims and priorities. Please note that we are focused on Greater Boston. Yet, we are also open to learning about colleagues engaged in similar efforts in the Gateway City regions of Fall River, New Bedford, Lawrence, Lowell, Brockton, and Randolph.

Submit an inquiry.

Relevant Research

Recent Racial Wealth Equity Blogs