The event is organized by the City of Baltimore agency, Baltimore Community Action Partnership, and Financial Empowerment Movement, Inc. Baltimore Financial Empowerment Day was part of the national Financial Planning Days initiative, a ground-breaking program involving city governments and thousands of financial planners nationwide, in an effort to provide free financial education and programming to people across the country.

Millions of Americans have suffered a loss of wealth during the recession and the sluggish recovery that followed, but the last half-decade has proved far worse for minorities (Black and Hispanic families), widening the already large gulf in wealth between non-minority and most minority groups.

Although the United States is one of the wealthiest countries, this prosperity remains out of reach for many minority Americans, in particular; Blacks and Hispanics, who strive to make a better life for themselves and their families, are not on the same wealth-building paths as whites. They are less likely to own homes and retirement accounts, so they miss out on these traditionally powerful wealth-building tools.

In 2010, median wealth was $4,900 for African American households and $1,300 for Latino households. The median wealth for non-minority households was $97,000. African American and Latino households are nearly twice as likely as non-minorities to have zero or negative net worth. A total of 18.6 percent of non-minority households, 33.9 percent of African American households, and 35.8 percent of Latino households have no wealth, or have liabilities exceeding their assets.

The Wealth Diversity Summit (WDS) is an event consisting of powerful panel discussions throughout the day to provide impactful solutions to economic, social and political issues that have widen the wealth diversity gap among minorities and non-minorities within the last 50 years.

The panel discussions will focus on important topics to reduce the wealth gap for minorities (African American and Latino Community) and women in two pillars:

• Reducing Minority Community Poverty Levels in Focus Areas: Education and Political System, Incarceration and Unemployment.

• Building Minority, Women and Next Generation Wealth Assets through: Entrepreneurship, Homeownership, Retirement Savings and Investment Education.

In 2014, the Wealth Diversity Summit (WDS) event was created and established in Baltimore to partner up with many local government, community and professional organizations to highlight as many ideal strategies and current programs to help reduce the wealth gap for minorities and to increase wealth equality for all Americans on the right path to achieve the American dream.

Also, this event was created in remembrance of pioneer, Reginald F. Lewis legacy and annually honored him and his family at the event with a Baltimore City Declaration: Reginald F. Lewis Day.

               



 Who are the Event Partners:

Governors Commission of Hispanic Affairs

Associated Black Charities

Maryland Department of Housing & Community Development

Small Business Administration

Morgan State University, Entrepreneurship Development Assistance Center (EDAC)

Operation Hope of Baltimore

National Association of African American Human Resources, Baltimore Chapter

Baltimore Housing Office of Homeownership

Greater Baltimore Urban League of Young Professionals

National Association of Black Journalist, Baltimore Chapter

National Association of Black Accountants, Baltimore Chapter

Urban Financial Service Coalition of Central Maryland

NAACP, Financial Economic Development

Baltimore City Chambers of Commerce

Hispanic Chambers of Commerce

Mayors Office of Unemployment

Maryland Department of Housing and Community Development

Maryland Department Labor Licensing Regulation

Male Enterprise Network

Elected Official Supporters:

Stephanie Rawlings Blake, Mayor of Baltimore City

Helen Holton, 8^th District Councilwomen

Nick Mosby, 7th District Councilman

Marilyn Mosby, Baltimore City States Attorney

Media Partners:

• 88.9 WEAA FM
• The Fran Allen Show
• The Eagle's Nest Radio Show
• Listen Up with Farajii Muhammad
• Omar Muhammads BriefCase Radio Show
• The Cassie Brown Project