Short Film: The Johnson Family
Dearfield fund for black wealth | A Gary Community Venture
After helping 150 families with down-payment assistance, the Dearfield Fund for Black Wealth has sharpened its strategy to better serve Black women, who made up 60% of the fund’s borrowers as of September 2023. Many of the fund’s female borrowers, including women like Nicole Johnson, are starting over after a divorce and, in many cases, are learning about building wealth through homeownership for the first time. The Dearfiled Fund acknowledges the incredible potential in Black women like Nicole, who represent the fastest-growing group of entrepreneurs in the U.S. What’s more, by raising $20 million in investments, the Dearfiled Fund believes it can pass along $50-$75 million in generational wealth for Black families like Nicole’s in Denver’s Black communities.
How it Works
In addition to borrowers’ personal down payment contribution, (at least 3% of the home’s price), the Dearfield Fund provides interest-free down payment assistance of up to $40,000 to first-time, Black homebuyers in Metro Denver.
Early Impact of the Dearfield Fund for Black Wealth
When investors activate their balance sheets and invest in Black communities, they see a financial return and meaningful social impact. The Dearfield Fund is a testament to that ideal.
How Dearfield is Helping Black Women
After helping 150 families with down-payment assistance, Dearfield has sharpened its strategy to better serve Black women, who make up 60% of the fund’s borrowers so far.
CO.creators
Director | Algernon Felice Jr, Gary Community Ventures
Algernon Felice Jr has been recognized nationally and regionally as an award-winning producer, having won a Chicago/Midwest Emmy® for writing, producing and directing a campaign that explores the humble roots of a historic business. He has also won multiple Wisconsin Broadcasters Association awards for his work in brand development and television production, and was featured on CNN for his filmmaking and cultural storytelling.
Producer | Mary Gerlach, Gary Community Ventures
Mary Gerlach is a writer, collaborator and optimist. As Senior Brand and Integrated Marketing Manager for Ventures, Mary is responsible for brand development and outreach for the breakthrough solutions that Gary Community Ventures incubates internally. Currently, Mary works closely with the teams responsible for the Dearfield Fund for Black Wealth, My Spark Denver and MyFriendBen.
Producer | Aisha T. Weeks, Gary Community Ventures
Aisha T. Weeks is the Managing Director of the Dearfield Fund for Black Wealth, an impact investment fund that seeks to close the racial wealth gap through homeownership. Under Aisha’s leadership, the Dearfield Fund has provided more than $5 million in downpayment assistance to first-time Black and African American homebuyers in the Denver metro area.
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