Wealthy Community is a nonprofit organization with a mission to develop wealth, property, and a positive mindset in underserved communities. Wealthy Community plans to engage in multiple programming and service opportunities to achieve this mission.
Property Acquisition
Wealthy Community seeks to purchase and turn empty shells of buildings into booming businesses that will pump money into underserved neighborhoods’ economies and create more job opportunities. The buildings will be occupied by businesses owned by residents of that neighborhood. Wealthy Community will target abandoned or worn-down buildings with little to no investment from the current owner.
Business Coaching
Wealthy Community seeks to hire business coaches to cater to the businesses selected to occupy its buildings. These coaches are necessary to ensure the business’s success and increase community impact. The organization also aims to coach struggling businesses owned by community residents to help them succeed, directly impact household income, and improve the community’s economy.
Business Incubation
The criteria for the businesses that Wealthy Community seeks to occupy its buildings will be businesses owned by members of the local community. The businesses will be established but need help scaling, increasing profits, or other business management areas. Each business will receive coaching from Wealthy Community to ensure their success and subsidized rents on the commercial space for the first year of occupancy.
Trade School Scholarships
Wealthy Community seeks to offer scholarships to trade schools specializing in understaffed fields within the technology and medical industries. The organization aims to increase the wages of low-income households by giving them access to resources that can directly impact wages. The organization seeks to provide access to schools that will supply the necessary certifications, training, and hands-on experience to quickly enter the workforce and immediately impact their household income and community. Wealthy Community seeks to support 30 students by the end of 2022 and increase to 100 in 2023.
Community Education
Wealthy Community aims to donate 1,000 copies of the eBook “How to Dominate in the Workforce.” Donations will be made to low-income communities to help increase wages and economic mindset.
Mortgage Refinancing
As the organization grows and with the support of donations, Wealthy Community seeks to offer low-income homeowners the opportunity to refinance their homes, and instead of making monthly payments, they can pay back the loan in 30 years with the home’s equity.