Building wealth in communities is 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 addressing the wealth gap is a recognition that we must address systems that have limited the creation of wealth in these communities. According to the Social Justice Partners of Los Angeles, systems change work tackles the root causes of pressing social problems. 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. 

With these principals in mind, Barr Foundation expanded its grantmaking to organizations working to advance racial wealth equity in Greater Boston. We believe, 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. However, we are open to learning about colleagues engaged in similar efforts in Fall River, New Bedford, Lawrence, Lowell, Brockton, and Randolph.