Our Common Purpose: The African American Alliance of CDFI CEOs

Wealth disparities between white and Black communities don’t just impact individuals - they also show up in which organizations control the flow of dollars.
In 2020, Kresge’s Social Investment Practice made a $750,000 grant to support the African American Alliance of CDFI CEOs, a growing network of mission-minded financial institutions led by Black executives, organizing to gain control over a bigger piece of the community development funding pie. Historically, white-led CDFIs receive $6 to $1 for Black-led CDFIs.
“What channel investment dollars flow through has proven to be crucial when it comes to making a real impact in communities,” said Kresge Social Investment Practice Managing Director Aaron Seybert. “Black communities deserve more and better investments. It only makes sense to ensure that Black-led CDFIs are better resourced, so they can work hand-in-glove with their own communities to invest for impact.”

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Just here doing research. Good stuff