LISC Chicago announced that it is one of 16 nonprofits that has received a grant, in the amount of $2 million, through the Walmart.org Center for Racial Equity. The mission of the center is to complement and extend the societal impact of Walmart’s business initiatives to advance racial equity in the nation’s financial, health, criminal justice, and education systems. Locally, the grant will advance LISC’s Project 10X, an initiative to close racial health, wealth, and opportunity gaps in Chicago’s neighborhoods.
“We are thrilled to receive this $2 million grant to do this important work around equity, which is deeply embedded in our mission as an organization,” said Meghan Harte, Executive Director of LISC Chicago. “The grant will help us advance racial equity in Chicago by funding new ideas and scaling the approaches that we know work to increase health, wealth, and opportunity. We share Walmart’s commitment to building equitable, inclusive, and stronger communities through investment in organizations focused on criminal justice, financial systems, education, and healthcare.”
LISC’s Project 10X addresses critical elements to close the racial health, wealth, and opportunity gaps in this country. The current economic environment and unprecedented challenges demand significant investment in proven solutions as well as new, innovative solutions. Project 10X targets four fundamental approaches to building equity:
● Generating enduring wealth and equity through homeownership and small business ownership
● Building credit and savings and strengthening financial institutions led by Black, Indigenous, and People of Color
● Investing in community wellness, digital access, education, arts, and justice reform
● Supporting quality jobs with good wages and benefits
The funding will allow LISC Chicago to expand its programming and deepen the focus on community safety, creating safe spaces for youth in 16 communities, in addition to offering LISC’s summer Hoops in the Hood program, which works to build community and police relationships, during the spring and fall.
“We’re excited to announce our investment to support the important work of LISC Chicago towards advancing racial equity progress,” said Monique Carswell, Director of the Walmart.org Center for Racial Equity. “Walmart and the Walmart Foundation are working to address drivers of systemic racism in society to accelerate change.”
In the financial sector, Walmart’s funding will enable LISC Chicago to expand its work with public and private sector partners to increase supplier diversity programs through targeted technical support and capital access and strengthen the infrastructure of support at the neighborhood level for small businesses.
In the education sector, Walmart’s funding will enable LISC Chicago to expand digital access and learning services within the Financial Opportunity Center (FOC) Network, a network of workforce development providers that support adults through one-on-one financial coaching and education and low-cost financial products that help build credit, savings, and assets.
Finally, Walmart’s funding will enable LISC to reduce health disparities in communities of color by investing in health-focused projects and programs that provide access to mental and medical health services increased access to healthy foods, telehealth services, and affordable and quality housing.
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