The Foundation seeks to foster economic well-being, vitality and sustainability by promoting asset-building for individuals, families, and communities in North Carolina. The Foundation has come to understand that wealth, more than income, promotes economic mobility and security, and that asset-building plays a critical role in addressing family economic well-being. Families of color have much lower levels of wealth than white families, with women of color having the least of all population groups.

Looking forward into 2011, the Foundation seeks to deepen its community development work by focusing on the growing racial and gender wealth gaps in North Carolina and strategies for reducing these gaps. By way of background, applicants are invited to review a report by the UNC-Chapel Hill Center on Poverty, Work and Opportunity, "Racial Wealth Disparity in North Carolina". Though we plan to have more information to share later in 2011, we hope you will help focus our thinking by sharing any insights about how your work affects racial or gender wealth disparities as you develop your applications for the upcoming grant cycle.

Results Sought:

Protect and increase the incomes and assets of low-income individuals and families, particularly among racial minorities

• Measurably increase or protect levels of home-equity
• Increase the supply and utilization of high quality affordable housing so that rates of monthly rents or mortgages for low-income residents do not exceed 30% of monthly income
• Increase income from self-employment or small businesses, especially in rural and minority communities
• Increase availability of and access to non-traditional capital to support home-ownership, asset building, and economic development
• Ensure equitable distribution of capital
• Eliminate financial practices that negatively and disproportionately target and affect lower-income families and individuals

Increase community control of economic assets and economic independence for the benefit of low-income and/or rural populations

• Build economically viable, environmentally sound, and socially sustainable local agriculture and business enterprise systems, particularly among minorities
• Increase economic development activities by capitalizing on existing local community strengths and cultural or environmental assets