This is about being bold.
Project 10X is LISC’s biggest, most ambitious and most urgent initiative ever. It is designed to upend the racial health, wealth and opportunity gaps that keep tens of millions of people from sharing in our country’s prosperity and realizing their personal potential.
While Project 10X will broadly benefit communities of color nationwide, the initiative’s name reflects its chief purpose: to directly address the nearly tenfold difference in wealth between Black and white households in the U.S., which has deepened in recent years. That wealth gap is indicative of other challenges as well, from poorer health and shorter lifespans to increased risks of eviction and incarceration among people of color.
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Why 10X?
- At last count, the average white family’s net wealth was at least 10 times that of the average Black family.
- There is at least a 10-year gap in average life expectancy between Black and white people in many American cities.
- Authentic, lasting change doesn’t take place overnight. We are dedicated to investing in and pushing forward this initiative for 10 years.
Why now?
In 2020, the devastating COVID-19 pandemic, the resulting recession, and the anguished public outcry over the deaths of George Floyd and countless other Black people at the hands of police have coalesced, highlighting the many levels at which our society is not working for all its members. In fact, historically it has been structured to discriminate and exclude, which has resulted in stark inequality for communities of color, across major indicators—from health outcomes and incarceration rates to economic mobility and household wealth.
We share in the widespread sense of urgency: never has it been more imperative that we do everything in our power to nurture systems that promote racial equity. We are committed to continuing this work not just in response to the moment, but as a deeply embedded part of our mission.
How does Project 10X work?
Project 10X is investing in community organizations and businesses working in rural and urban communities across the country. While Project 10X will broadly benefit communities of color, the chief focus is on addressing the wealth gap between Black and white households. We aim to scale proven solutions, seed new ideas for closing racial health, wealth and opportunity gaps and build the capacity of our partner organizations to do so. Our investments will target four fundamental approaches to building equity:
- Generating enduring wealth and equity by investing in homeownership and business ownership opportunities for people of color and in financial institutions led by people of color.
- Strengthening opportunities for economic mobility by building credit and savings and supporting digital access and quality education that leads to jobs with good wages and benefits.
- Improving community health and resilience by investing in healthy food and healthcare access, child care, cultural assets, fitness and mental wellness, and climate justice.
- Reimagining community safety in a way that empowers communities and keeps them safe while addressing systemic racism in the criminal legal system that disproportionately impacts men of color.
What will it take?
Project 10X is a $1 billion effort. It will take that kind of scale to do this long-term, comprehensive and deep work, and we’re looking for partners who want to think big and invest with us.
Please join us! Read on to learn more about how Project 10X will create change, and how you can take part in this unprecedented effort to build a society that treats all its members as valued equals. Or contact Project10x@lisc.org to find out more.
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