The BEAT Sheet – November 2022

By Black Economic Alliance |

Tuesday, November 8th is election day! Your vote can lift the climb of Black families across this country.

BEA launched a six-figure ad campaign to mobilize voters in the run-up to Election Day.  The ad features one of two Black governors ever elected in the United States, former Massachusetts Governor and current BEA Board member Deval Patrick, discussing the power Black voters could wield by casting their ballots this year. Join us in sharing this ad to help get out the vote!

BEA PAC-endorsed candidates like Wes Moore are committed to work, wages, and wealth

In response to the increase of restrictive voting measures following the successful mobilization of Black voters in 2020, the BEA PAC’s 2022 strategy includes support for down-ballot candidates for the first time. In addition to endorsements for the U.S. House and Senate, the PAC’s chosen candidates for governor, lieutenant governor, attorney general, and secretary of state exhibit the integrity necessary to create a more inclusive economy, safeguard American democracy, and prioritize Black economic and voter mobility.

According to the Center for Information & Research on Civic Learning and Engagement, there are around 8.3 million newly eligible young voters in the 2022 elections. The BEA PAC is focusing its resources on reaching millions of new voters in states like Georgia, Pennsylvania, Michigan, Wisconsin, and North Carolina where Black voters have the potential to shape election outcomes and where measures have been intentionally implemented to obstruct Black voter turnout and silence their political voices.

BEA hosts 'The Gathering' on Martha’s Vineyard, featuring NYSE Chair Sharon Bowen, Harvard Economist Raj Chetty, and McDonald’s CEO Chris Kempczinski, moderated by CNBC’s Bertha Coombs

In August, BEA leveraged its unique convening power to engage some of the foremost thinkers and leaders across public, private, and nonprofit sectors on the best opportunities to improve work, wages, and wealth for Black Americans in the current economy. As one of the first places in the country where Black people were legally allowed to buy and own property, Martha’s Vineyard served as the perfect backdrop to reconvene our annual gathering for an action-oriented conversation about driving economic mobility.

Economist Raj Chetty, the William A. Ackman Professor of Economics at Harvard University, and the Director of Opportunity Insights, presented new data on the power of social capital to build infrastructure and advance Black people not just socially, but economically. Based on a study of 21 billion friendships from Facebook, the Social Capital Atlas shines a light on how economic connectedness, social cohesion, and civic engagement are related to children’s chances of rising out of poverty. The event also featured conversations with NYSE Chair Sharon Bowen, and McDonald’s CEO Chris Kempczinski, moderated by CNBC’s Bertha Coombs.

BEA Foundation announces a $10M collaboration with Deloitte to promote financial inclusion

“The unique ability of the Black Economic Alliance Foundation to harness the collective expertise and influence of Black business leaders to develop generational wealth-building opportunities for the Black community has become a model for economic development,” said Kwasi Mitchell, Chief Purpose Officer at Deloitte. “Together, we will facilitate actionable solutions that can help reshape the future for Black Americans. A truly equitable society is more than just an ideology, it’s a reality that we believe we can help achieve through our collaboration with organizations like the BEA Foundation to turn vision into action for generations to come.”

Deloitte has committed $10 million over the next five years to help accelerate the Black Economic Alliance Foundation’s impact through expanding and accelerating its programs and initiatives to promote financial inclusion. Together, we will develop meaningful investment and philanthropic programs, lead impactful research, and elevate understanding of the inextricable link between the health of the Black economy and the entire American economy.

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  • Read the whole press release HERE.