Highlights from the nonprofit organization’s first impact report include $10 billion in Community Benefits Agreements and $4.5 million distributed to BIPOC-Led CDFIs.

Media Contact:
Brian M. Maxey bmaxey@rise-economy.org, 510-813-7552

LOS ANGELES, June 11, 2024 – Rise Economy, formerly known as the California Reinvestment Coalition, proudly announces today the release of its 2023 Impact Report, which summarizes the racial, housing and economic justice nonprofit organization’s initiatives and partnerships in 2023. 

The report — the first for Rise Economy — highlights the organization’s progress in dismantling historical barriers to generational wealth-building for California’s low-to-moderate income and Black, Indigenous, and People of Color communities. It focuses on three core areas of work: organizing and rebuilding communities, leading systems change, and creating alternatives for a better future.

“As we reflect on the achievements outlined in this report, it’s clear that our work is fundamentally shifting systems that have perpetuated economic injustice for generations,” said Rise Economy Chief Executive Officer, Paulina Gonzalez-Brito “Our commitment to a just economy, where all Californians, particularly those who have been historically affected by systems of oppression, is at the heart of everything we do.”

Highlights from 2023 include:

  • Negotiated more than $10 billion in Community Benefit Agreements.
  • Exposed banking industry hypocrisy in addressing structural racism.
  • Advanced policies promoting LLC ownership transparency and economic inclusivity.
  • Supported emerging Community Development Financial Institutions through its Resilience Fund, where it distributed $4.5 million to 11 BIPOC-led CDFIs.
  • Delivered financial empowerment training to more than 1,000 families in Southern California.

With more than 300 members, Rise Economy is the largest statewide community reinvestment alliance in the U.S., building equity, driving empowerment, advocacy, and growing collaboration in California communities — both urban and rural. Through partnerships with diverse organizations, including CDFIs, housing developers, and faith-based groups, Rise Economy works to combat generations of systemic inequality head-on.

“Rise Economy’s work is creating resilient communities by ensuring fair and equitable reinvestment from banks, advocating for enhanced transparency in property laws, and championing innovative solutions to widening economic disparities,” said Chancela al-Mansour, Executive Director of the Housing Rights Center and Rise Economy board chair. “The 2023 Impact Report is proof that their efforts have reverberated throughout California and have resulted in tangible change for communities.”

READ THE 2023 IMPACT REPORT ONLINE
DOWNLOAD THE IMPACT REPORT

 

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About Rise Economy
Rise Economy, formerly the California Reinvestment Coalition (CRC), is a member-led alliance focused on creating a more equitable society where Black, Indigenous, and People of Color have access to resources and opportunities to build generational wealth. As the largest statewide community reinvestment alliance in the country, Rise Economy advocates for policies and practices that promote racial and economic justice and that address the root causes of inequality, redlining, and systemic racism.