The Dodge Foundation, we want to learn more about organizations doing work across New Jersey to advance equity and close the racial wealth gap. While there are many layered factors that affect the current racial wealth gap in New Jersey, research consistently shows that two of the most powerful drivers of wealth building—and, therefore, of closing the racial wealth gap—are:

• Housing and Pathways to Homeownership 

Homeownership is the largest source of wealth for most American families, yet it is out of reach for many New Jerseyans. In fact, many individuals and families struggle with access to basic supportive and affordable housing, let alone homeownership. Expanding equitable opportunities to safe and affordable housing enables families to build generational wealth, strengthen communities, and reduce the racial wealth divide. Examples of program interventions supporting this work could include: eviction prevention support, improved access to supportive and affordable housing, credit building, access to capital/lending, increase in housing stock, etc.

• Pathways to Economic Security and Mobility 

Income is foundational to wealth accumulation and economic security. Supporting pathways for individuals to earn and save more—through education, training, entrepreneurship, and fair wages—ensures families have the resources to save, invest, and achieve economic security. Examples of program interventions supporting this work could include: access to upskilling and advanced training, improved financial management and wealth-building knowledge and skills, reducing barriers to career advancement, bolstering social safety nets, providing cash assistance/UBI, etc.

The Dodge Foundation is dedicating its time, energy and resources to advancing interventions, and leveraging grants and impact investments, that are focused on closing the racial wealth gap primarily through these two levers.

While we do provide support to statewide organizations, we are particularly focused on five communities across New Jersey: Atlantic City, Camden, Newark, Paterson, and Trenton.