The Challenge
Amplify addresses the racial wealth gap by building pathways to entrepreneurship, self-determination and high growth professional careers.
Amplify addresses the racial wealth gap by building pathways to entrepreneurship, self-determination and high growth professional careers.
“Racial wealth inequality continues to rise with African American households projected to own 99x times less wealth than their White counterparts by 2024.”
-The Road to Zero Wealth
“Median African American household wealth is on a path to hit zero by 2053.”
Note: before 1st Amplify cohort reaches retirement
-The Road to Zero Wealth
“Chicago ranks 50th out of the 50 largest cities in America in terms of racial disparities and upward mobility between black and white men.”
-The Road to Zero Wealth
“The United States loses more than $78 billion in annual GDP by excluding people who have a criminal record from economic opportunity.”
- Chase/Crain's Business
“Illinois spends more than $1.5 billion per year in taxpayers' dollars for individuals that return to prison after being released”
-lllinois Justice Project
“The median Latino household wealth is projected to hit zero in 2073. In sharp contrast, the median White household wealth would climb to $137,000 by 2053”.
- The Road to Zero Wealth
“It would take the median Latino household 2,055 years just to catch up to the current wealth median White households own today”.
-prosperitynow.org
“Our society has, in the name of being tough on crime, made a series of policy choices that have fueled a cycle of poverty and incarceration. We send large numbers of people to prison, and then when they leave just as penniless as they were when they went in, we expect them to bear the burden of legally-acceptable employment discrimination.”
“If Chicago and our country are serious about long-term economic health and prosperity, then we must also be serious about breaking cycles of limited employment and depressed wages that stifle self-sufficiency, self-determination and wealth building.”