To be healthy, people need the stability, confidence and aspiration gained through earning a reliable and growing income, building up a financial cushion, and owning assets. Yet many Californians face barriers to achieving enough income to meet basic needs, let alone build wealth – the single most important factor that influences health.
If you think of economic security as a house, we strive to support Californians in strengthening the floor and eliminating the ceiling. "Strengthening the floor" means focusing on reinforcing a social safety net that protects people from economic distress when faced with financial challenges. And "eliminating the ceiling" means emphasizing higher education, and access to good jobs that provide living wages, strong benefits and career paths. Eliminating the ceiling also includes entrepreneurship and growing assets – from homeownership to retirement savings.
According to the Asset Funders Network, wealth helps to explain the long-standing racial health inequities that endure in our nation. "Wealth" isn’t just for millionaires. AFN defines “high wealth” as possessing $104,000 or more in total assets. On average, White households are about 10 times wealthier than Black ones, and Whites have historically had more assets than Blacks, who have been subjected to systemic barriers to economic prosperity. To challenge entrenched inequities, we prioritize Californians from communities of color and low-income communities. These communities have long faced, and continue to face, systemic barriers to realizing their aspirations and achieving fulfilling lives.Our Economic Security and Dignity portfolio aims to advance the economic well-being of Californians, especially those from low-income communities and communities of color. Improving health outcomes is not just a matter of promoting good jobs and increasing income — it’s also about building assets and the confidence and cushion that wealth provides to expand opportunities.
The Economic Security and Dignity portfolio makes grants under three goal areas. To be eligible for funding, your organization’s work must fit into at least one of these goal areas:
- Economic Mobility & Wealth Creation
- Higher Education (note: this goal area is currently not accepting unsolicited applications for funding).
- Economic Safety Net