BlackFem, Inc.

We are a commitment to wealth justice.

Germantown, MD   |  www.blackfem.org

Mission

BlackFem® is a national nonprofit that is closing the race and gender wealth gap by mobilizing cities, political systems, culture centers, and educational systems to be the mechanisms through which we maximize the wealth-building capabilities of Black women and women of color, their families, and their communities. We are not a financial literacy organization; we are a wealth justice organization. We believe advancing wealth justice to create widespread social and economic change can only be done by addressing financial trauma and healing.

Ruling year info

2016

President & CEO

Chloe McKenzie

Main address

21030-G Frederick Road

Germantown, MD 20876 USA

Show more contact info

EIN

47-5331017

NTEE code info

Services to Promote the Independence of Specific Populations (P80)

Youth Development Programs (O50)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Sign in or create an account to view Form(s) 990 for 2019, 2018 and 2017.
Register now

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

The greatest influence on a person’s wealth-building capability is not financial knowledge, it is financial trauma. According to our founder’s research, Black women and women of color are among some of the most financially traumatized groups in the United States, which explains why their unique struggle against wealth inequality is so severe and intractable. BlackFem® has developed the first and only research-backed solution designed to transform the wealth-building capability of Black women and girls. Through our innovative model, WealthRise®, we’re revolutionizing communities by offering integrated, culturally-responsive training and programming designed to heal financial trauma and advance wealth justice. Fundamentally, our WealthRise® model heals financial trauma, which will close the wealth gap. It ensures Black women and women of color both know how to navigate and intervene in the larger macroeconomic system that influences their lives and wealth-building capabilities.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

WealthRise® - Education

Through WealthRise® - Education, our education partners commit to delivering our programming to their students up to daily through our Equiddieᵀᴹ platform. Equally, we conduct capacity-building trainings and infrastructure-building for education system leaders to successfully reduce or eliminate the impact of financial trauma.

Population(s) Served
Women and girls

Through WealthRise® - Higher Education, we focus on developing both economic and extraeconomic teachings to help students build material safety and then sustained material wealth.

Higher education institutional policies and messages also perpetrate and transmit financial trauma. We conduct capacity-building trainings and infrastructure-building for higher education institutions to successfully reduce or eliminate the impact of this common phenomena with students.

Population(s) Served
Ethnic and racial groups
Economically disadvantaged people

Institutions that enact policies are often the ripest context for financial trauma to be perpetrated and/or transmitted. Our partner cities commit to capacity-building programming, trainings, and events that teach legislative aides and the like to incorporate understandings of wealth justice and financial trauma in their work. Equally, we host community activations for policymakers and the local community to systematize the ways local political institutions can help the broader community metabolize the financial trauma that has been thwarted onto the community.

Population(s) Served
Women and girls

Through our WealthRise® - Culture Centers program, we identify the major local institutions that influence the culture of the community and build capacity for these entities to recognize and disrupt the transmission of financial trauma.

Often these major cultural hubs are local businesses, churches, and community centers. We offer capacity-building and community infrastructure-building to teach how to transform these institutions into healing centers instead of (unintentional) trauma centers.

Population(s) Served
Ethnic and racial groups
Economically disadvantaged people

Families are the second-leading sites that are a ripe context for transmission or perpetration of financial trauma.

BlackFem hosts regular programming and supports the launch of other programs and initiatives for parents to transform their homes into centers for learning and healing.

Population(s) Served
Ethnic and racial groups
Economically disadvantaged people

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of independent training sessions delivered by BlackFem staff

This metric is no longer tracked.
Totals By Year
Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Our goals are to maximize the wealth-building capabilities of the most purposely ignored groups (i.e Black women and girls), increase their material wealth, influence policy, and transform other local entities that transmit and perpetrate financial trauma.

WealthRise® is a proprietary model developed by our founder to ensure the success of our program by eliminating the roadblocks to learning found in most out-dated ineffective traditional financial literacy programs.

Intervention Design
We work with school districts to adopt policies that mandate financial literacy five days a week during the school day. We collaborate with the District to finance and manage the program infrastructure and our overall WealthRise® program.

Teacher Academy
We empower teachers to implement our model in the classroom. They receive paid training at our immersive summer experience

Behavioral Reinforcement
We believe programs should build financial capacity, not just teach financial literacy. Our tools have built in reinforcement systems that help sustain wealth.

Monitoring & Evaluation
We measure and maximize our impact as a critical part of our program DNA via classroom audits, online learning checks and supplementary learning sessions for teachers.

We have clearly defined goals and clearly defined strategies for meeting our goals.

Before BlackFem implements the WealthRise model, we partner with cities and states to set up the infrastructure to manage and finance the WealthRise program. Based on our proven best practices, we co-create a multi-year intervention plan for integrating BlackFem into the full community ecosystem. Each step of the way, our interventions are designed to treat the ripest contexts where financial trauma is perpetrated or transmitted: education, policy, culture, and family.

We recognize K-12 and Higher education institutions are a site for transmitting financial trauma through their policies and messages. We conduct capacity-building trainings and infrastructure-building for education institutions to successfully reduce or eliminate the impact of this common phenomena with students. Our K-12 partners commit to deliver our programming to their students up to daily through our Equiddieᵀᴹ platform. Additionally, we develop both economic and extraeconomic teachings to help young adults in the higher education space build material safety and then sustained material wealth.

Similarly, institutions that enact policies are often the ripest context for financial trauma to be perpetrated and/or transmitted. Our partner cities commit to capacity-building programming, trainings, and events that teach legislative aides to incorporate understandings of wealth justice and financial trauma in their work. Equally, we host community activations for policymakers and constituents to codify the ways local political institutions can help the broader community heal from the financial trauma perpetuated. It is common we see significant shifts in policy framing, political debate around economic policies, and community engagement and pressure regarding economic change.

Our cultural institutions are how community ecosystems retain and reenact historical financial trauma. We offer capacity-building and community infrastructure-building to teach how to transform these institutions into healing centers instead of (unintentional) trauma centers. We can measure the effect of this using our founder’s measurement tool and research that she's published on.

Families are the second-leading institutions that are a ripe context for transmission or perpetration of financial trauma. BlackFem hosts regular programming and supports parents in transforming their homes into centers for learning and healing. Participants demonstrate both an increase in material wealth, material safety, and wealth-building capability through greater access to assets, resources to fund those assets, and the strategies to heal financial trauma.

Impact and success are based on our founder’s research and wealth justice framework which discusses material safety, material wealth, healed financial trauma, and institutions transformed: four pillars to demonstrate that the commitment to wealth justice is being achieved.

Over the past seven years, BlackFem has developed a systematic model for maximizing the wealth-building capabilities of Black women and women of color and making financial trauma and healing a centerpiece of advancing wealth justice.

Prior to the launch of our WealthRise program, our organization reached 20,000 students, and specifically 10,000 girls of color. We also had 5,000 participants who successfully completed a BlackFem program over multiple years.

Through the launch of our WealthRise model, we’ve served over 150,000 students, families, teachers, and community members. We’re currently operating in 22 cities and have 38+ cities on our waitlist. The wealth generated by participants of our Bank on Us program has reached $50,000. As of June 2021, twenty-two policies designed to maximize the wealth-building capability of women of color have been adopted. To date, we’ve helped over 72,000 women and girls of color heal from financial trauma. We’ve also seen students move nearly a standard deviation in Math and ELA test scores. Overall, we've made positive strides towards meeting all of our goals in all of our reported measures.

Led by Chloe B. McKenzie, whose research and expertise has been leveraged by a number of states and cities, and institutions like Georgetown, our work has been recognized by the White House Gender Policy Council and Ashoka.

Here's what's next for us:

1. Delivering the WealthRise model to our waitlist cities
2. Expanding human resource capacity
3. Measuring long-term impact of programming in communities

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • Who are the people you serve with your mission?

    Black women and women of color, their families, and their communities.

  • How is your organization collecting feedback from the people you serve?

    Electronic surveys (by email, tablet, etc.), Focus groups or interviews (by phone or in person), Community meetings/Town halls, Constituent (client or resident, etc.) advisory committees,

  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals,

  • What significant change resulted from feedback?

    Adding more pillars to our model.

  • With whom is the organization sharing feedback?

    The people we serve, Our staff, Our board, Our funders, Our community partners,

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback, We ask the people who gave us feedback how well they think we responded,

  • What challenges does the organization face when collecting feedback?

    It is difficult to find the ongoing funding to support feedback collection,

Financials

BlackFem, Inc.
lock

Unlock financial insights by subscribing to our monthly plan.

Subscribe

Unlock nonprofit financial insights that will help you make more informed decisions. Try our monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights?
Learn more about GuideStar Pro.

Operations

The people, governance practices, and partners that make the organization tick.

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

BlackFem, Inc.

Board of directors
as of 9/8/2021
SOURCE: Self-reported by organization
Board chair

Chloe McKenzie

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 09/08/2021

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
Black/African American/African
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Heterosexual or Straight
Disability status
Decline to state

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 09/08/2021

Policies and practices developed in partnership with Equity in the Center, a project that works to shift mindsets, practices, and systems within the social sector to increase racial equity. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We use a vetting process to identify vendors and partners that share our commitment to race equity.
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.