RAND Center to Advance Racial Equity Policy » Newsletter

How Can Equitable Financial Practices Contribute to Racial Equity?

Q: What have your experiences in the finance space taught you about developing equitable financial practices?

A: My personal experiences have taught me that now, more than ever, change is needed in the finance space to eradicate inequities facing communities of color. Growing up, I was fortunate that my parents owned real estate, talked about money, saved money, and even invested it. Their expectation was that I would not just do the same as them but go beyond what they had achieved with their own finances. Unfortunately, financial security is not always available for many people of color. For some, it is a daily struggle to have just enough to get by. For others, there is little to no discussion about the importance of saving and investing, because many are forced to live paycheck to paycheck. When faced with choices like paying the rent versus buying groceries or keeping the lights on versus putting gas in the car, what do you do? This is why conducting research in this space at RAND and understanding the whys behind these inequities is so critical for creating an equitable future for all.

It is also important to note that financial inequity is not just about money. Financial inequities in communities of color also impact housing opportunities, educational access, and food insecurity, as well as employment. For example, San Francisco’s Bayview–Hunters Point was developed during World War II when the United States Navy purchased the property to develop the San Francisco Naval Shipyard. As a result, Bayview became home to many Black shipyard workers and I, myself, know some of their children and grandchildren who live there today. However, the face of Bayview has changed because of gentrification. Housing costs have skyrocketed, forcing many to look for alternative housing in other cities, uprooting their lives and moving further from their places of employment. The percentage of Blacks, which was once close to 65% in 1990, has decreased to less than 15% in 2019.

Without putting equitable financial practices in place, the gap between those who have and those who have not will continue to widen. This will result not only in a divide in wealth but also in the potential loss of culture.

How do you see budgeting and finance impacting racial equity goals within and outside of RAND?

It is important for RAND to be financially responsive to cultural needs and funding spaces. Internally, we should be regularly asking ourselves to examine how the funds we have are used to help us pursue our goals around equity in policy analysis, where relevant. From my viewpoint, RAND is moving in the right direction. Externally, we should also make sure that we are equity-minded in our client spaces and projects, and we should understand how funders are interested in addressing racial equity though the lens of research and analysis.

Read more in the full Q&A »

advancing equity in

Research + Policy

RAND’s work in racial equity extends across social and economic policy and national security. These snapshots show where RAND's work is having impact.

Current Projects

Analyzing the Ethics and Equity of Prescribed Burns: A Storymap

Prescribed burns are fires intentionally set to reduce the risk of catastrophic wildfire and to promote cultural and ecosystem goals. Three Pardee RAND students, with the support of the school’s Ethics Thread lead, Ben Boudreaux (pictured), examined the ethical and equity considerations regarding the use of prescribed fire in California. Conducted as a “summer sprint” project through the Pardee RAND Graduate School’s Tech + Narrative Lab, it lays out a system map of the prescribed fire policy space, an equity analysis that identifies those who are most vulnerable, and an equity checklist that policy-makers can leverage to consider the range of ethical and equity issues and to ensure vulnerable populations and other stakeholders have voice.

Center to Advance Racial Equity Policy Roundtable: Centering Racial Equity Policing

The center held its first RAND Roundtable event in New York City, organized by RAND development officers Sylvia Dsouza and Natalie Noravian and hosted by RAND Trustee Soledad O'Brien. The event focused on the center and the work of RAND social policy researcher Dionne Barnes-Proby (pictured). It brought together thought leaders from media, public policy, law, higher education, and #BlackandBrilliant. A key topic of discussion was policing policies and practice, with a focus on RAND’s existing efforts to advance racial equity in policing and explore possible solutions to improve interactions between police and youth of color.

Our initial analysis of this conversation found actionable areas of research for the center to explore: reframing criminal justice policies and procedures, increasing police and criminal justice diversity, training, increasing opportunities for policing and community engagement, re-evaluating performance standards, understanding the roles of unions, and suggesting alternative policing strategies based on data and research.

Research Q&A Series

For more insights about ongoing research and policy analysis in racial equity, see our Q&A series with RAND researchers and RAND president and CEO Michael D. Rich.

advancing equity in

Our Communities

We're committed to connecting research to civic action and cultivating leaders who can advance equity in systems and policies.

Current Projects

New Affiliates/Ambassadors Program

We’re excited to announce the inaugural Center to Advance Racial Equity Policy Affiliates/Ambassadors program, comprised of RAND appointees. Affiliates were selected through a rigorous process that included support from supervisors and research directors, a detailed review of proposals, and support from RAND senior management.

Cohort 1 (October 2021–March 2022)

Evan Banks Adding a racial equity lens to the RAND guide to selecting diverse, equitable, and inclusive imagery.

Jason Etchegaray Engaging stakeholders to understand and prepare for future work and future technology in the home care setting: an NSF application.

Melissa Finucane Identifying and communicating best practices for racial equity performance assessment of federal programs.

Marielena Lara Advancing racial equity in the era of intensifying natural disasters.

Jessica Paige Comparing the trajectories of continuing-generation African American and white college graduates.

Nabeel Qureshi Pardee RAND Graduate Student: Understanding and addressing racial equity differences in quality of care for depression treatment in primary care.

Read more about center programs »

advancing equity at

Our commitment to advance racial equity policy is not simply an external collaboration. We’re doing the work internally, too.

RAND Updates

Tech and Social Policy Hackathon

As part of RAND's NextGen Initiative, RAND and Pardee RAND Graduate School are partnering with the Atlantic University Center Consortium (AUC) to conduct a three-week virtual hackathon, which began this week. Undergraduates from Clark Atlanta University, Morehouse College, and Spelman College—along with Pardee RAND graduate students—are competing in this unique virtual event.

The RAND-AUC Tech and Social Policy Hackathon, which is offered through the Pardee RAND Tech + Narrative Lab, will challenge students to use large datasets to identify policies that help ensure vulnerable communities don't get left behind in pandemic recovery. The hackathon culminates with a final presentation on November 17 before a panel of judges.

Hispanic Heritage Month

RAND’s Latinx y Más Employee Resource Group partnered with the Center to Advance Racial Equity Policy and the Pardee RAND Community-Partnered Policy and Action Stream in creating events to elevate Latinx-focused research, culture, outreach, and empowerment. The capstone event was a two-hour conversation moderated by center director Rhianna C. Rogers and RAND Trustee Soledad O’Brien. Other events included a panel discussion on lessons learned in partnering with Latinx communities for research, a game testing knowledge of Hispanic/Latino culture, a virtual visit of the Museum of Latin American Art (MOLAA), and a showing of the movie Vivo by Lin-Manuel Miranda. In commemoration of the upcoming Día de los Muertos (Day of the Dead), Latinx y Más also constructed a community alter (pictured) for RAND staff to learn about and contribute to the tradition.

Read more about RAND’s Employee Resource Groups »

Stay in Touch

For more information about the Center to Advance Racial Equity Policy or any topics covered in this newsletter, visit our website or email racialequity@rand.org