Our Mission
To financially empower children of color by bridging the racial wealth gap through innovation, illustration and inspiration.
Our Vision
To reimagine a world where every child has an equitable path and knowledge to financial stability.
Our Core Values
Equity
We believe in providing equal opportunities for all children, regardless of their background.
Education
We are committed to delivering high-quality, engaging financial education.
Empowerment
We aim to empower children to make informed financial decisions.
Community
We foster a sense of community and collaboration in all our efforts.
Innovation
We leverage creative and innovative approaches to financial education.
Understanding the Financial Literacy Gap
Research shows that the “wealth gap” is partly due to historical and systemic inequalities that have limited access to financial education and resources for communities of color. The median wealth of white households is ten times greater than that of Black households and eight times greater than that of Hispanic households.
Financial Literacy Among Adults
Black Adults:
28%
Hispanic Adults:
34%
White Adults:
48%
Poverty Among Children
Black Children
37%
Hispanic Children
27%
White Children
11%
51.4% of young adults aged 18-24 identified "money management" as the high school-level course that would benefit their lives the most
Poor financial literacy contributes to higher costs of financial transactions, limited access to credit, and increased financial instability among communities of color
The lack of financial literacy education further perpetuates this cycle of poverty,
leaving these children unprepared to make informed financial decisions as adults.These statistics illustrate the urgent need for comprehensive financial literacy education tailored to children of color in underserved communities.
By addressing these disparities early, The Carter & Olay Foundation aims to equip the next generation with the knowledge and skills necessary for financial success and stability.
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Join us in our mission to empower young minds and bridge the financial literacy gap.
