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"For black people, there is a double standard," Monica Montgomery Steppe says. "We, as a city and as a nation, are facing it for what it is."
The San Diego Housing Commission on Wednesday announced a $7.5 million grant from Wells Fargo to help people of color buy homes, the San Diego Union-Tribune reports.
"We want you here because diversity is the strength of this city and home ownership is the power that helps provide the stability the city needs to move forward," said Mayor Todd Gloria at the announcement.
The Wells Fargo Wealth Opportunity Resorted Though Homeownership or WORTH initiative, a $60 million national effort to address systematic barriers to homeownership for people of color, aims to help 40,000 new homeowners of color nationwide by the end of 2025.
"There are systemic barriers to closing the racial wealth gap," Wesley Brooks, Home Ownership Lead at Wells Fargo, tells the Union-Tribune.
"When we heard from the housing commission in-depth detailed knowledge of what some of the barriers were, and comprehensive strategies of how they were going to address those barriers, it became a no-brainer to fund that."
A San Diego Housing Commission Urban Institute study found that black families own just 29% of homes in the city, while Latino families own 35% and white families own 55%.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
"When I came to Harare from Zaka, I had nobody and knew nobody, but I had to define my career path and carve my own niche, hence the confidence that all these important people here now have in...more
The Greater Hermiston Community Foundation is accepting applications for its 2024 grant cycle. Local organizations serving Hermiston, Umatilla, Stanfield, Echo, and Irrigon are eligible to...more
Foundation: Kellogg Foundation
For more than 30 years,Henrie Treadwell has been fighting for racial equity at the University of South Carolina, where she became the school's first black graduate since Reconstruction, the...more
If you're an artist trying to break into the music business, there's a good chance you've never heard of entertainment law. But if you're a law student at Mercer University in Georgia, you may...more
Amy Reese, a veteran and CEO of ARC Business Solutions, says she's "thrilled to see the impact" her organization's "Business Boots on the Ground" program will have on military veterans in...more
The University of Colorado at Boulder is in the news this week for an unusual reason: It's hosting a two-day "staff summit" next week that's open to all staff members, reports the Daily...more
Baltimore's Mitchell family is putting its money where its mouth is, awarding a $50,000 grant to Excellence & Ambition, a nonprofit that helps young people ages 14 to 21 launch and grow their own...more
Foundation: Silicon Valley Community Foundation, California Endowment
In 2024, Los Angeles will host the Mission Investors Exchange 2024 National Conference, an annual conference that brings together more than 750 philanthropy and impact investing leaders from across...more
Foundation: California Community Foundation, California Endowment
Ava DuVernay financed her latest film with money from the Giving Pledgean initiative of the California Endowment, the largest US foundation to commit its entire $4 billion portfolio to social and...more
Foundation: Marguerite Casey Foundation, Marguerite Casey Foundation, Rockefeller Philanthropy Advisors, Skoll Foundation, Target Foundation, Ford Foundation, Philadelphia Foundation, Rockefeller Foundation
"The US creative economy was most recently valued at over $1 trillion by the National Endowment for the Arts," per a press release, "even before considering film, fashion, video games, beauty, food,...more
Community Building News from...
Wells Fargo Foundation
New Hampshire Charitable Foundation
Community Foundation of Southeast Kansas
Dallas Foundation
Oak Park-River Forest Community Foundation
Greater Washington Community Foundation
Rhode Island Foundation
Community Foundation for Greater Atlanta
California Community Foundation
Arizona Community Foundation
Social Entrepreneurship
Spotlight
Influencing Social Good Through Retail
When Hannah Davis traveled to China to teach English, she noticed how Chinese workers and farmers were often sporting olive green army-style shoes. Those shoes served as her inspiration to create her own social enterprise, Bangs Shoes.
