Black Economic Equity Movement (BEEM)
In Fall 2022, MyPath launched the Black Economic Equity Movement (BEEM), the nation’s largest Guaranteed Income (GI) project serving Black young adults. An outgrowth of MyPath’s Youth Economic Bill of Rights and a project of our Wealth Equity Lab, BEEM will examine the efficacy of providing GI with optional financial capability supports to 300 Black emerging adults ages 18 to 24 in the the cities of Oakland and San Francisco. Participants will be offered a combination of GI ($500 per month over 12 months) and optional monthly financial mentoring and peer learning circles over 24 months.
Over the five-year project period, the research will examine:
1) The impacts of GI on financial, mental and physical health outcomes for Black emerging adults;
2) If multi-level supports that complement GI, such as financial mentoring, have a greater impact on; and
3) To what degree will GI impacts dissipate after the cash transfers end.
Our goal is to gather evidence that will demonstrate Guaranteed Income’s positive impact on young adult well-being, and to engage BEEM participants in leadership and advocacy activities to raise awareness around the impact of these kinds of investments and make the case for more.
MyPath is thrilled to be partnering with researchers from University of California San Francisco and Oregon Health and Science University to design and implement BEEM, as well as Community Financial Resources, Financial Capability Investment, SAGE Financial Solutions and 15 member Community Working Group comprised of representatives from key local nonprofits and agencies who work closely with Black youth and have deep roots in the communities we serve:
- 3rd Street Youth Center & Clinic
- Larkin Street Youth Services
- LYRIC Center for LGBTQQ Youth
- Roots Community Health Center
- San Francisco Juvenile Probation Department
- San Francisco’s Mayor’s Office of Housing and Community Development
- San Francisco AIDS Foundation
- St. James Infirmary
- YR Media
While most GI projects have focused on adult populations, BEEM examines how GI can support young people on the cusp of adulthood and how GI projects might be fortified with additional supports to generate lasting financial capability outcomes. Financial mentoring will be provided by certified financial coaches who have been trained on MyPath’s Youth Financial Mentoring curricula – the first of its kind to incorporate youth development and trauma-informed practices in preparing financial coaches to work effectively with youth and young adults.
BEEM builds upon 2 MyPath projects that have offered GI in combination with financial mentoring to transition-age foster youth and to pregnant and parenting teens. Findings from these GI projects have shown that GI paired with youth financial mentoring yields strong banking, savings, and credit outcomes and increases financial confidence.
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