BLOOMBERG PHILANTHROPIES’ GREENWOOD INITIATIVE LAUNCHES NEW RACIAL WEALTH EQUITY DATABASE

NEW YORK, September 15, 2022 /PRNewswire/ — Today, Bloomberg Philanthropies Greenwood Initiative announced the launch of the Black Wealth Data Center (BWDC) which will host the new Racial Wealth Equity Database. The BWDC aims to empower decision-makers – including practitioners, elected officials at all levels and philanthropists – as well as journalists, working to improve and chronicle economic opportunity by making it easier for them to research and analyze a broad range of factors correlated with economic well-being and progress by race. This new effort will also create a network of leaders and organizations working to create economic progress for Black families and communities. BWDC is incubated by prosperity nowa leading non-profit organization based in washington d.c. focused on promoting racial and ethnic economic justice.

On the Black Wealth Data Center website, visitors will use BWDC’s Racial Wealth Equity Database to interact with wealth data by subject (assets/debts, education, employment, property and home ownership). company) and compare wealth data by race (Black, Hispanic, Asian, White, Other, or multiple races), gender, age, education, and geography (state, county, or zip code). Over the coming months, the BWDC will continually add datasets and features to the database, looking for opportunities to offer new tools in the field to better interpret racial equity data. It will also bring together leaders and host events on the power of data to help find solutions for racial wealth equity.

The need for the BWDC was explained by Michael R. Bloombergfounder of Bloomberg LP and Bloomberg Philanthropies and 108th mayor of New York City in January 2020 when he spoke in Tulsa, Oklahoma, launching the Greenwood Initiative, and addressed “the enormous obstacles that so many black Americans have faced not only to build wealth, but also to pass on assets to their children and grandchildren as generations have done. of white families. He said: “I believe we have the power to build a future where color and capital are no longer tied together.”

Bloomberg Philanthropies’ Greenwood Initiative is a nationwide program focused on accelerating the pace of wealth accumulation for Black individuals and families and addressing systemic underinvestment in Black communities across the United States. United. Through this initiative, Bloomberg Philanthropies supports and works with leaders and organizations across the country to implement, expand and advocate for efforts that increase economic and social mobility to reduce wealth disparities in Black communities.

“Leaders and organizations across the country have been challenged by the lack of accessible, high-quality race-disaggregated data – making it difficult to assess what is working and not working in efforts to make the A more equitable America, what assets exist in black communities, and what we need to do to bring about change,” said Garnesha Ezediaro, who leads Bloomberg Philanthropies’ Greenwood Initiative. “Committed to continuously analyzing and integrating the best data into one comprehensive, user-friendly source, the Black Wealth Data Center will be a resource for leaders working to ensure that data is accessed more equitably, that progress can be measured more accurately, and that change can come faster.”

The BWDC is led by Natalie Evans Harris, who brings nearly 20 years of experience advancing the strategic use of data in the public sector. She spent 16 years at the National Security Agency where she ran an analytical development center and served as a senior policy adviser to the United States Chief Technology Officer in the Obama administration. Most recently, Natalie co-founded and led the strategic initiatives of BrightHive, a data sharing platform enabling users to easily and securely connect data.

“I am excited to lead the Black Wealth Data Center, to help leverage data and technology to accelerate black wealth accumulation, and to partner with practitioners and policy makers to pave the way for fairness,” said Natalie Evans Harrisexecutive director of the Black Wealth Data Center.

Bloomberg Philanthropies’ Greenwood Initiative partnered with Prosperity Now to incubate the Black Wealth Data Center because of its long tradition of racial economic justice work rooted in data, research and community building.

“For so long, those of us working to develop meaningful programs to address racial wealth inequities have had to use the critical resources of our organizations to seek out and access the data needed to support our work,” said declared Gary CunninghamPresident and CEO of Prosperity Now. “Prosperity Now is thrilled to incubate the Black Wealth Data Center. We hope it will serve as a resource for leaders seeking to address racial wealth inequality for the Black community and other groups who systematically experience wealth inequality. “

To lay the groundwork for new data sources and help contextualize the data, the BWDC is currently working in partnership with the National Neighborhood Indicators Partnership, the Urban Institute, and DataKind. BWDC will create additional partnerships with a particular focus on increasing the amount of local data in its database, incorporating data from private sources and working with existing data providers to strengthen data quality.

The Black Wealth Data Center is the most recent investment made by Bloomberg Philanthropies’ Greenwood initiative, which was launched in September 2020. The first investment was a $100 million partnership with the country’s four historically black medical schools to help ease the debt burden of approximately 900 black medical students. The second investment represented more than $6 million to these four schools to increase their mobile unit’s vaccination efforts against COVID-19 and help ensure equitable access to vaccines within Black communities disproportionately affected by the pandemic. The third investment was the Vivien Thomas Scholars Initiative, a $150 million effort to John Hopkins dedicated to addressing historical underrepresentation in science, technology, engineering and mathematics (STEM) fields by providing ongoing funding for a sustained cohort of approximately 100 new slots for diverse doctoral students in more than 30 JHU STEM programs. The Greenwood Initiative has also partnered with programs to help local leaders prioritize economic equity programs through Bloomberg Philanthropies. Local Infrastructure Center and the CityStart program at Cities for Financial Empowerment.

To learn more about the Black Wealth Data Center and the database, visit blackwealthdata.org.

ABOUT BLOOMBERG PHILANTHROPIES

Bloomberg Philanthropies invests in 941 cities and 173 countries around the world to ensure better, longer lives for as many people as possible. The organization focuses on five key areas to create lasting change: arts, education, environment, government innovation and public health. Bloomberg Philanthropies encompasses all Michael R. Bloomberg donations, including his foundation, corporate and personal philanthropy as well as Bloomberg Associates, a pro bono consulting firm that works in cities around the world. In 2021, Bloomberg Philanthropies distributed $1.66 billion. For more information, please visit bloomberg.org or follow us on Facebook, instagram, Youtube, Twitterand LinkedIn.

SOURCEBloomberg Philanthropies