Giving Good Gifts
Gift Givers are folks with wealth who seek to use their resources to address the racial wealth gap in the U.S. Gift Givers can browse the Gift Recipient’s anonymous profiles and choose to help pay down their liabilities and/or transfer assets.
What is the Racial Wealth Gap?
The typical White American Family has roughly 10 times as much wealth as the typical African-American family.
Jubilant Money is striving to close that gap.
According to the U.S. Federal Reserve Bank:
White Americans hold 84 percent of total U.S. wealth but make up only 60 percent of the population—while Black Americans hold 4 percent of the wealth and make up 13 percent of the population.
Put another way: The wealth of the richest 400 Americans is approximately equal to that of 43 million Black Americans.
Source: Lisa Camner McKay, “How the Racial Wealth Gap Has Evolved—And Why It Persists,” Federal Reserve Bank of Minneapolis, October 3, 2022. Why does it matter?
Because of the racial wealth gap, Black households in the U.S. have a harder time handling life’s ups and downs than other Americans - this not only negatively impacts their financial health, but also their physical and mental health.
Learn more about the racial wealth gap and its impact on the well-being of Black Americans.
Let’s close the gap.
Everyone is invited to contribute to Jubilant Money’s Gift Recipients!
Though we welcome all Gift Givers, as we seek to close the racial wealth gap and reduce the concentration of wealth, we recommend that individual Gift Givers fit within the following criteria:
1. Are age 18 or older
2. Have a net worth greater than $187,300, the median net worth of a White family in the U.S.
3. Are committed to closing the Black/White wealth gap in the U.S. through wealth transfer
Is your organization interested in partnering?
We’re excited to join forces with other organizations seeking to close the racial wealth gap.