January 15, 2020
According to “The Road to Zero Wealth,” a report by the Institute for Policy Studies (IPS) and Prosperity Now, by 2053 African-Americans will possess an average of $0 in wealth.
Emboldened by this data, Rodney Foxworth, CEO of Common Future and presenter for this webinar, led his organization in reimagining its mission – which had focused on growing local sustainable and regenerative economies – as one that centers social and class equity. The result is a rebrand to Common Future.
“Despite the focus on local economies, our actions have not matched the urgency of unprecedented wealth inequality and economic injustice that primarily affects communities of color,” says the Common Future team.
The reorganization includes new initiatives such as Social Entrepreneurs in Residence, which enables executive-level leaders to grow projects that have an obligation to build community wealth. Additionally, Common Future is continuing Foundation Circle, a program that helps industry leaders strengthen their mission-driven investing. Foundation Circle has assisted 45 participants in shifting more than $150 million away from Wall Street and into the communities they serve.
During this webinar, hear from Foxworth about the new Common Future and the rebranding and reorientation work that was necessary to give the organization a sharper focus on equity.
“At the core, I believe that we have a mutuality in our downfalls and successes as people; the reality is that we are united in our collective future,” says Foxworth. “It’s not just about interrogating systems and institutions, but building alternatives to replace those failing systems.”
In addition to being the CEO of Common Future, Foxworth is a BALLE Fellow, Next City Vanguard and Baltimore Business Journal “40 under 40” honoree. He is featured in the Washington Post bestseller, “Reach: 40 Black Men Speak on Living, Leading, and Succeeding.” Foxworth serves on the board of Justice Funders, Social Capital Markets, and the Nonprofit Finance Fund.