Economic Equity | Fox Foundation

ECONOMIC EQUITY
THROUGH SCIENTIFIC EVIDENCE-BASED SOLUTIONS

ADDRESSING GENERATIONAL WEALTH TO EMPOWER FUTURE GENERATIONS

Addressing generational wealth is a crucial step towards empowering the next generations and fostering a more equitable society. Generational wealth refers to the assets and resources passed down from one generation to another, often providing significant advantages and opportunities to those who inherit them. Unfortunately, the unequal distribution of generational wealth can perpetuate disparities and hinder social mobility, particularly for marginalized communities.

To empower the new generation, we must must provide equitable access to education, dismantling systemic barriers, and supporting entrepreneurship. By taking proactive steps to promote economic equality, we can create a society where individuals from all backgrounds have an equal opportunity to build and pass on wealth, fostering a more just and prosperous future for generations to come.

EQUITY BARRIERS

POVERTY

In 2019, ~3.9MIL children under age 18 lived in extreme poverty, defined as living in households with incomes below half of the poverty threshold. Extreme poverty rates impacted 11.7% of Black and 9.7% of Hispanic children, compared to 2.2% of White children.

Source: National Center for Children in Poverty, 2021

EDUCATION

In 2020, 34% of Black students and 30% of Hispanic students attend high-poverty schools, compared to 8% of White students.

Source: NCES, 2020

HIGHER EDUCATION

In 2018, only 41% of low-income students enrolled in college immediately after high school, compared to 71% of high-income students.

Source: NCES, 2020

EMPLOYMENT

In 2020, the unemployment rate for young adults ages 18-24 was 16.8%, but for Black and Hispanic young adults, it was 24.8% and 19.4%, respectively.

Source: Urban Institute, 2020

JUSTICE

In 2020, Black youth were 4.6 times more likely than White youth to be incarcerated, while Hispanic youth were 1.7 times more likely.

Source: The Sentencing Project, 2021

MENTAL HEALTH

In 2021, 12.4% of Black and 10.4% of Hispanic youth reported having suicidal thoughts, compared to 6.9% of White youth. Black and Hispanic youth are more likely to face barriers to accessing mental health care, such as lack of insurance and limited availability of culturally competent providers.

Source: Mental Health America, 2022

OUR COMMITMENT

To empower the next generations, it is essential to implement policies and initiatives that address the root causes of wealth inequality. Fox promotes equal access to quality education, affordable housing, healthcare, and financial services. By investing in education, we can equip youth and underserved communities with the skills and knowledge necessary to thrive in the modern world. This includes not only academic education but also financial literacy and entrepreneurship training, enabling individuals to make informed financial decisions and create their own wealth.

CURRENT PROGRAMS

MSI BUSINESS INCUBATION OUTSOURCING

ENTREPRENEUR DEVELOPMENT INITIATIVE

ECONOMIC EQUITY THROUGH SCIENTIFIC EVIDENCE-BASED SOLUTIONS