What is the racial wealth gap? - Generocity Philly


Nov. 30, 2017 7:57 am

What is the racial wealth gap?

Clarifi's director of community engagement, Soneyet Muhammad, pitches the nonprofit's three-year-old financial bootcamp program, which pivoted this year to address the topic.

Soneyet Muhammad presenting at Clarifi's Fall 2017 bootcamp.

(Courtesy photo)

Around the Corner” is a PhillyCAM show that offers local social impact leaders the opportunity to share what impact their work is having on the Philadelphia area.

Wealth is about more than income. It’s about systems, too.

Clarifi, a 50-year-old financial services nonprofit with 18 offices in the Delaware Valley, advises about 5,000 education clients and 13,000 individual counseling clients per year on personal finance issues such as debt reduction and credit improvement.

Part of that work is done through its financial bootcamps for low- to moderate-income people, which Director of Community Engagement Soneyet Muhammad said pivoted this year to address the racial wealth gap.

“The racial wealth gap is essentially the argument that, through the country’s systemic racial discrimination policies that have been indoctrinated in federal policy,” she said, “Black and Latinx people have just been forced to fall behind. It’s been purposeful, it’s been intentional.”

Muhammad outlined some of this in a guest post on the topic this fall, but it’s best to hear it straight from her for the full explanation, as well as what Clarifi recommends people do to counter the effects of the racial wealth gap in their own lives. Watch her “Around the Corner” interview below.

Watch on YouTube

PhillyCAM is Comcast channel 66/966 HD/967 and Verizon FIOS channel 29/30 in Philadelphia.

From our Partners


From our Partners

Money for less. Respect for free

What did ‘A Better Chicago’ do for poverty that could work in Philadelphia?

How would a Poverty Tracker work in Philadelphia and what could it accomplish?


Generocity Philly

Inscripción Doble en Congreso: Lo que trae el futuro

Philadelphia and Bala Cynwyd

JFCS of Greater Philadelphia

Youth Engagement Program Coordinator

Apply Now
Philadelphia, PA

United Way of Greater Philadelphia & Southern New Jersey

Chief Knowledge Officer

Apply Now
Philadelphia, PA

Campus Philly


Apply Now

For people with a disability, poverty rates are high and employment rates low. Can workforce development help?

Could ‘one-apply for benefits’ work to stabilize income in Southwest Philadelphia?

In Mantua: If benefits are building blocks, what do we do about benefit cliffs?


Generocity Philly

Dual Enrollment at Congreso: Where does it go from here?

Philadelphia, PA

The Pew Charitable Trusts

Senior Officer Pew Fund

Apply Now

Neighborhood Gardens Trust

Development and Communications Manager

Apply Now
Philadelphia, PA

Friends of the Rail Park

Public Programs Manager

Apply Now

Sign-up for daily news updates from Generocity