Generating Income For Tomorrow’s goal is to create a clear path to economic prosperity and wealth for the African American community in Kansas City. We are doing this by providing grants to Black owned businesses in Kansas City, with a specific interest in businesses that operate in low income areas. We know that this creates more jobs and potentially converts an economically disadvantaged area into an area of economic opportunity.
The need for this resource is undeniably apparent when you look at the data on the income inequality and the wealth gap between the African American and White communities of Kansas City. Due to the discriminatory practices of Redlining in the 1920’s and 1930’s, Troost Ave has long been seen as the dividing line between Black and White people of Kansas City, as well as the dividing line between high and low income communities.
Kansas City has a population of 527,597 residents and an overall poverty rate of 16.20%.
64109, 64110, 64127, 64128, 64130, and 64132 are the zip codes of the highest populated low income communities in Kansas City. Collectively they have a population of 107,398 residents and a poverty rate of 36.00%. Of those 107,398 residents, 75.18% of them are Black. All of these zip codes are located east of Troost Ave.
64113, 64114, 64118, 64119, 64151, and 64152 are the zip codes of the highest populated high income communities in Kansas City. Collectively they have a population of 145,554 residents and a poverty rate of 5.03%. Of those 145,554 residents, 91.82% of them are White. All of these zip codes are located west of Troost Ave or in the northern part of Kansas City.
Investing in Black owned businesses in low income communities is a proven method of increasing the economic prosperity of the community. Unfortunately banks often hinder that prosperity by discriminating against African American and other entrepreneurs of color seeking small business loans. A 2017 study by the National Community Reinvestment Coalition actually found that banks were twice as likely to provide business loans to white applicants than Black ones, and three times as likely to have follow-up meetings with white applicants than more qualified Black ones.