About Us
Atlanta’s economic growth has not been evenly shared over the past several decades, leading it to be consistently ranked among the cities with the worst rates of economic mobility and inequality – especially for Black, Latinx, Indigenous, and other households of color.
In metro Atlanta, households of color are less financially secure than white households. It is harder for households of color to weather financial shocks, save for the future, build wealth, and get ahead.
Consider:
- Over half of the Black and Latinx families in metro Atlanta are liquid asset poor. They do not have enough savings to cover basic expenses for three months if they experience a financial crisis (job loss, medical emergency etc.) [1]
- Over a quarter of the Black and Latinx families in metro Atlanta have negative or zero net worth, a common measure of wealth. [2]
- The median annual household income for Black households in the city of Atlanta is $35,048, compared to $102,693, for white households. [3]
- A child born in the bottom 10% of the income distribution in metro Atlanta has only a 33% chance of making at least $73,500 as an adult.[4]
Racial disparities in income and wealth are a product of historic and continuing bias and discrimination—in everything from real estate and banking to education and the tax code—that have systematically undermined economic opportunities for households of color.
This is where LISC Atlanta steps in. Our mission is to drive bold ideas and resources to close the racial wealth gap in metro Atlanta.
How we work
We receive our funding from banks, corporations, foundations and government agencies. We, in turn, use that funding to provide financing (loans, grants and equity) and technical and management assistance to local partners and developers.
Our comprehensive community development strategies are a proven, powerful form of economic stimulus for neighborhoods that can revitalize communities and catalyze new opportunities for residents.
[1] scorecard.prosperitynow.org/data-by-issue#finance/localoutcome
[2] scorecard.prosperitynow.org/data-by-issue#finance/localoutcome
[3] saportareport.com/racial-differences-in-atlantas-median-household-income-widespread-deeply-rooted/columnists/david/
[4] atlantaregional.com/special-features/equity-special-feature-economic-mobility-education