To the Compass Community,
I am writing to acknowledge and share the outrage and pain many of us are feeling in the wake of the horrific killings of George Floyd, Ahmaud Arbery, and Breonna Taylor. These tragedies, in the midst of COVID-19 and its disparate impact on Black and Latinx communities, have only further laid bare the systems of racism, oppression, and inequality in our nation.
We have seen the heartbreaking anger, despair, and anguish about the continued disregard for Black lives in full view in communities across the country, including Boston and Philadelphia where our work is centered. I have connected one-on-one with many members of our staff in the last few days, and I have heard the exhaustion, resignation, anger, and agonizing fear for the safety of loved ones among our colleagues of color.
As a nonprofit financial services organization, we have a role to play in speaking out against systemic racism and working to dismantle it. The broader forces that have led to the deaths of George Floyd, Ahmaud Arbery, Breonna Taylor, and the loss of countless other Black lives, are the same forces that have stripped wealth and opportunities from communities of color over time and perpetuated the racial wealth divide. The average net worth of white households in the Greater Boston region is $247,500, compared to just $8 for U.S. born Black households. We view our work within this context, and so we will continue to believe in, invest in, and support families of color in the pursuit of their goals and dreams. And, we will conduct our work in ways that help to dismantle the systems, policies, and practices that prevent people of color from building wealth.
At the same time, we will remain steadfast in our organizational commitment to diversity, equity, and inclusion. We believe that our ability to achieve our mission is strengthened when our team and leadership are reflective of and responsive to the families and communities we serve. We also believe that it is vital to center the voices and lived experiences of our clients – primarily Black and Latina mothers – in everything we do, including our efforts to shift practice and policy to close the racial and gender wealth divides.
As I shared in a message to our staff, I stand with boundless respect and gratitude, much love and humility, and in solidarity with all of you for the work and journey ahead.
Sherry Riva, Founder & CEO