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Wealth and Asset Building: Black Facts

Apr 19, 2015
  • Community and Economic Development
  • Housing and Homelessness
  • Race and Ethnicity

  • DESCRIPTION

African American households lost 53% of their net worth between 2005 to 2009 compared to only16% of whites for the same time period. That translates into African Americans only having $17,100 in wealth compared to $170,400 for whites. This has huge ramifications for African American generational wealth and well-being. Since the end of Jim Crow segregation and the signing of the 1964 Civil Rights Act, the U.S. government and many private foundations have included African Americans in anti-poverty programs. However, much of this investment was concentrated on subsistence income supports, not asset building. While giving people money for survival is necessary, it is not sufficient to set them on the pathway to financial independence and self-sufficiency. 

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Wealth and Asset Building: Black Facts

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Published By

  • ABFE | A Philanthropic Partnership for Black Communities

Copyright

  • Copyright 2015 by ABFE | A Philanthropic Partnership for Black Communities. All rights reserved.

Document Type

  • FactSheet

Language

  • English

Geography

  • North America / United States
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Title: Wealth and Asset Building: Black Facts
Publication date 2015-04-19
Publication Year 2015
Copyright holder(s) ABFE | A Philanthropic Partnership for Black Communities
Geographical Focus North America / United States
Keywords asset building , african , wealth , wealth gap , center for community
Document type FactSheet
Language English
URL: https://www.issuelab.org/resource/wealth-and-asset-building-black-facts.html
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