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Equipping the Future

Empowering diverse youth to create generational wealth.

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Our Mission

The Generational Wealth Foundation’s mission is to foster wealth principles among socio -economically diverse populations, drive wealth accumulation, and reduce the wealth gap

Overview

The Generational Wealth Foundation is a 501c3 nonprofit organization, headquartered in Atlanta, GA, which uniquely offers a holistic approach to supporting wealth generation, through financial literacy programming coupled with lifestyle skill development among youth and adults.  All-inclusive programming provides fiscal, philosophical, artistic, academic, athletic, social, civic and cultural principles implemented by the ultra-successful, all housed within one program.

The program will roll out initially in Atlanta, GA, however, look out for roll out in a city near you! The vision is global!

Why Is Our Mission Critical? The Racial Wealth Disparity

 

Wealth (or net worth) is defined as an individual or family’s combined assets minus their debt. Currently, the median net worth of Black and Latino families stands at just $11,000 (8.2%) and $14,000 (10.4%), respectively compared to the $134,000 of White families. When consumer durable goods (such as automobiles, electronics, and furniture) are removed, median wealth for Black and Latino families drops to $1,700 (1.5%) and $2,000 (1.7%), respectively, compared to $116,800 for White households.

The Magnitude and Impact of The Racial Wealth Disparity

The Previous State of Wealth Among Minorities (↓ 75%)

Between 1983 and 2013, the wealth of median Black and Latino households decreased by 75% (from $6,800 to $1,700) and 50% (from $4,000 to $2,000), respectively, while median White household wealth rose by 14% (from $102,200 to $116,800). If current trends continue, by 2020 median Black and Latino households stand…Read More

The Present Wealth Disparity in America (8x$)

White households in the middle-income quintile (those earning $37,201-$61,328 annually) own nearly eight times as much wealth ($86,100) as middle-income Black earners ($11,000) and ten times as much wealth as middle-income Latino earners ($8,600).

Why We Must Prevent Projected Wealth Trend (2073 = 0 Wealth)

If the racial wealth divide is left unaddressed and is not exacerbated further over the next eight years, median Black household wealth is on a path to hit zero by 2053—about 10 years after it is projected that racial minorities will comprise the majority of the nation’s population. Median Latino…Read More

Statistics above were derived from a 2017 study by ‘The Institute for Policy Studies’ and ‘Prosperity Now.’

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The Generational Wealth Foundation
Shari@GenWealthFoundation.com