The Executive Leadership Council Announces "Build, Grow, Protect!" a $6M Philanthropic Investment in Sustainable Strategies To Address The Racial Wealth Gap
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New initiative aimed at identifying measurable programs to build generational wealth in the Black community includes a partnership with fintech platform Goalsetter
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WASHINGTON, June 16, 2021 /PRNewswire/ -- Today, The Executive Leadership Council (ELC), the preeminent global organization of Black executives dedicated to developing the next generation of Black C-suite and executive board leaders, announced "Build, Grow, Protect!", an initial three-year, $6 million investment strategy designed to build, grow and protect black wealth in America.
Inspired by the events surrounding Juneteenth and Black Wall Street, the ELC's "Build, Grow, Protect!" initiative is strategically designed to strengthen, diversify, and expand the organization's commitment to propelling upward mobility in the Black community by building capacity in nonprofits, creating programs that will grow wealth, and investing in programs that protect the civil rights, history, and culture of Black people in America.
"Build, Grow, Protect!" will be kicked-off through a strategic partnership with Goalsetter, a Black and female-owned fintech platform founded by former corporate executive Tanya Van Court that embodies the ELC's vision, goals, and mission of eradicating the racial wealth gap in America through education, entrepreneurship, and empowerment.
"Tanya and Goalsetter personify the mission of the ELC and the promise of what Black America can and should be when we show up to support and foster our own," said The Executive Leadership Council President and CEO Michael C. Hyter. "The ELC is proud to embark on this mission with Goalsetter to ensure that Black Americans never again have to wait for financial liberation and will instead have the opportunities and resources they need to thrive, succeed and begin building generational wealth, as a community and for their community."
Goalsetter CEO Tanya Van Court created the platform in 2018 with the sole mission of building the next generation of Black and Brown savers, investors, and owners through financial education and the acknowledgement that every Black and Brown child has the power to help close the wealth gap in America once and for all.
Research published by the Institute for Policy Studies and Prosperity Now shows that by 2053, Black households will have a median wealth of zero. Given this trend, the ELC recognizes that the Black community does not have time to wait for others to eradicate systemic racism which has kept Black people at a stark economic disadvantage over the rest of the population, despite a rise in education levels.
"The intention of the strategy is to allow other individuals and organizations to join The ELC in accomplishing this goal because the initiative is scalable and replicable, potentially resulting in a multiplier effect," adds Hyter. The ELC comprises a powerhouse set of Black executives from some of America's most prominent corporations who believe that the next critical wave of liberation for the Black community is financial freedom and that as a group, they must be the ones to lead the charge to build, grow, and protect Black wealth now.
EXPANDING AND DIVERSIFYING ELC'S MISSION The second major initiative to be launched under the "Build, Grow, Protect!" framework is the Nonprofit Capacity Building & Workforce Development Program. This program will focus on amplifying Black centric non-profits and ensuring the development of Black talent outside of academia – a chronically overlooked and underemployed talent pool.
As part of this effort, the ELC will source exceptional non-degree talent candidates (ELC Fellows), match them with pre-selected nonprofits, and pay their salary for one year as part of their growth with the organization. The ELC will also provide leaders at each non-profit and ELC Fellows with access to its stellar professional development platforms. Nonprofits and individuals interested in the program will be invited to apply when it's launched in Q4 2021.
As part of the ELC's initial three-year investment strategy, the organization will also expand its scholarship programs, establishing a partnership to place 50,000 Black students on high-growth STEM career paths, and partnering with various local and national organizations that advocate for the protection of civil rights for Black Americans.
About The Executive Leadership Council The Executive Leadership Council, an independent non-profit 501(c)(3) corporation founded in 1986, is the preeminent membership organization committed to increasing the number of global Black executives in C-Suites, on corporate boards, and in global enterprises. Comprising 800 current and former Black CEOs, senior executives, and board directors at Fortune 1000 and Global 500 companies, and entrepreneurs at top-tier firms, its members work to build an inclusive business leadership pipeline that empowers global Black leaders to make impactful contributions to the marketplace and the global communities they serve. For more information, please visit www.elcinfo.com.
About Goalsetter As a family saving, financial literacy and smart spending app, Goalsetter makes it easy for the whole family to go cashless and learn how to be money smart. Goalsetter's smart money app for families includes: FDIC-Insured Savings Account; the Cashola Teen and Tween Debit Card, game-based financial literacy quizzes; "Learn before you Burn" parental controls on the debit card and the "Learn to Earn" financial reward feature. Goalsetter was founded by Tanya Van Court, a former Nickelodeon and ESPN executive. Click here for more about Goalsetter's app and offerings.
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SOURCE The Executive Leadership Council
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