The Minority Wealth Gap Foundation (MWG) is focused on the minority wealth gap for Hispanic and Black Communities. We believe in changing lives and creating generational wealth within these communities through equitable access to capital and employment opportunities. First, we must address racial inequality and the origin of the Wealth Gap. The focus of MWG is integration, acceptance and inclusion of Black and Hispanic population into the economy. MWG’s mission is to lift Black and Hispanic families out of poverty through networking, mentorship and monetary support.
The mission of MWG is to minimize and eliminate the Wealth Gap through a “War on Poverty” in the Black and Hispanic Community. Black and Hispanic families have difficulty ascending the economic ladder. Black and Hispanic communities have high numbers of unbanked or underbanked populations. This problem worsened after the crisis of 2008, when 93% of all bank closings occurred in low-income neighborhoods. Banking deserts are left vulnerable to high cost pay lenders, title lenders, and other fringe banks. This exposes vulnerable people to devastating financial shocks like bankruptcy, eviction, and lawsuits. Such lawsuits further ratchet up the financial pressure through wage garnishments, aggressive collection practices, and criminal prosecutions. A wage garnishment can feel like extortion, but increasingly, creditors are using actual extortion. Minority Wealth Gap (MWG) is a 509(a)(2) Public Charity exempt from federal income tax under Internal Revenue Code (IRC) Section 501(c)(3).
The focus of MWG is integration, acceptance and inclusion of Black and Hispanic population into the economy.
MWG has six(6) Projects in USA
Housing and Homelessness
Domestic Violence (Bernice Women)
Nutrition and Wellness
Techsoup ( addressing the digital divide)
Mental Health Wellness & Services
We are focused on equity and closing the wealth gap in Black and Hispanic Communities sooner rather than later. We believe if we can address Homelessness and Housing insecurity, Domestic Violence, Nutrition and Wellness, and the digital divide in these communities, we can make a fundamental difference in so many lives and create much-needed fundamental change from the grassroots level.
MWG has three(3) Projects in Africa
1. Domestic Violence (Bernice Africa)
2. School and Farming
3. Nutrition Counseling and Healthcare Africa
We believe in changing lives and creating generational wealth within African communities through equitable access to capital and employment opportunities. We will focus on training and awareness through MWG projects collaborating with faith-based organizations that have access to families in need and that could benefit from our Projects.