The Latino Equity Fund's Approach to Building Latino Wealth
October 7, 2026
By Carlos Muñoz-Cadilla, Community Impact Officer, Latino Equity Fund at the Boston Foundation
Data show that when Latinos thrive, Massachusetts thrives. Yet the Boston Federal Reserve’s 2025 Massachusetts Economic Conditions and Household Opportunity Survey (Mass ECHOS) reveals alarming economic realities for the state’s Hispanic population. Perhaps even more alarming, the data point to the economic stagnation of the state's Latinos more broadly.
In 1989, the Boston Foundation published a report entitled “In the Midst of Plenty.” The report highlighted the persistent poverty that Boston’s women, single parents, residents with limited education or English language skills, and minorities experienced in what was seen as an era of prosperity across the city. More specifically, it showed that 46% of the city’s Hispanic population lived in poverty. Forty years later, the theme has not changed. The median net wealth for Hispanic families in the Commonwealth today is $1,200, just 0.2% of White families’ median net wealth. Around 40% of Hispanic families hold zero or negative wealth – that is, their debts outweigh any savings and other assets they have. Additionally, nearly two-thirds of Hispanic households today say they could not afford a $400 emergency expense, such as an unexpected car repair or medical need.
One should not draw direct comparisons between the Mass ECHOS study and the 1989 report. Yet, taken together, the two reports highlight the socio-economic realities of living in Massachusetts and show how much work remains to create an inclusive economy that prioritizes Latinos' needs.
"For us at the Latino Equity Fund, the [Mass ECHOS report] data also raise the question of philanthropy's role in empowering Latinos to overcome these historical, systemic barriers to well-being and economic mobility."
For us at the Latino Equity Fund, the data also raise the question of philanthropy's role in empowering Latinos to overcome these historical, systemic barriers to well-being and economic mobility.
As the only dedicated Latino-serving philanthropic fund in the state, LEF's mission is to advance the well-being and economic mobility of Latinos across the Commonwealth. Our knowledge of the ecosystem of Latino-serving organizations, our proximity to uniquely positioned community-based organizations, and our grasp of issues impeding Latinos' prosperity help us couple data like Mass ECHOS with experience to drive philanthropic dollars to Latino hubs that are often overlooked.
So, how can we translate the Mass ECHOS report findings into action? We must continue to invest in the Latino-serving organizations that, time and again, work at the frontlines tackling Massachusetts’ biggest equity issues. These organizations distributed food after SNAP funding was cut, provided legal aid when immigration enforcement surges threatened community safety, created opportunities for Latinos to build wealth, and more. In the short term, the Latino Equity Fund will focus its efforts to support Latino-serving organizations in three ways:
- We will mobilize financial resources to historically overlooked, community-based organizations that are advancing the well-being of Latinos. Data show that about 1% of philanthropic funding nationally typically goes to explicitly Latino-serving organizations. In Massachusetts, that philanthropy often is concentrated in Suffolk County. Data show that large Latino hubs, such as Brockton, Framingham, Lowell, Lawrence, and Lynn, have gone underfunded. Latino-serving organizations’ proximity to their communities is an asset that enables them to address Massachusetts’ most pressing equity issues. Driving additional philanthropic dollars to these areas will help Latinos thrive.
- We will support community-based organizations whose programs address systemic wealth-building barriers for Latinos. Studies show that investing in ESOL, credentialing, apprenticeships, and foreign credential recognition, among other workforce supports, can drive economic mobility for Latinos. ESOL programming alone has been shown to create a potential 29-fold return on investment in terms of new wages for workers. The state’s own investment in this policy will generate economic mobility opportunities for thousands of English learners. By supporting organizations that reduce barriers, clarify redundancies, and guide Latinos to acquire industry-specific credentials, we can further increase access to higher-paying jobs and reduce the income gap between Latinos and others. Increasing incomes is essential if we want to create economic mobility for Latinos.
- We will invest in grassroots organizations that are mitigating the negative effects of the “One Big Beautiful Bill” (OBBB, or H.R. 1) on Latinos' healthcare access. Improving access to health services promotes economic empowerment by maximizing income and limiting emergency expenses. A 2026 Unidos US report estimates that the OBBB will leave 4.3 million Latinos newly uninsured across the country. Data show that increasing paperwork and red tape to secure and maintain health coverage, the removal of lawful immigrants’ eligibility for health coverage, and the expiration of Affordable Care Act subsidies mean that many more Latinos will be forced to turn to emergency care they cannot afford. Even before H.R. 1, almost half of Latinos in the Commonwealth reported difficulty obtaining health services, and federal policies defunding local neighborhood health centers will further strain Massachusetts’ health care systems. LEF sees the change-making opportunity to support grassroots health organizations that have spent years earning the community’s trust and providing essential services. These organizations offer free mobile clinics, host vaccination drives, and help people sign up for health insurance, negotiate medical bills, and more. All of that reduces the burden on neighborhood health centers. These investments are critical to making essential health services more accessible to Massachusetts’ Latinos.
Our efforts to address systemic challenges and create the necessary conditions for Latinos to build positive net wealth are steps toward solutions, not solutions themselves, and it will take more than these investments to create an inclusive economy for Latinos.
The Latino Equity Fund’s community-centered approach and strong partnerships best position us to lead philanthropy’s efforts to close equity gaps for Latino communities. Since our inception in 2015, we have distributed more than $3.5 million in philanthropy across the Commonwealth, including more than $2.7 million since 2023. Meanwhile, LEF’s partnership with researchers at the Mauricio Gastón Institute for Latino Community Development and Public Policy at the University of Massachusetts Boston is crucial to maintaining up-to-date data on socio-economic factors affecting Latinos’ well-being. This partnership feeds LEF’s data-driven grantmaking methodology as well as its public policy priorities, which include a Latino Dashboard and Latino Report Card in the coming years. That data will enhance and inform our impact. Through our research, our community impact work, and our grantmaking, LEF will continue to build a Massachusetts where all Latinos can find prosperity and a future for themselves and their families.