The mission of The Empowerment Experiment Foundation (EEF) is
the dedicated study and facilitation of economic development
in under-served African American communities via self-help
economics/conscious consumerism, financial literacy, targeted
entrepreneurship and business diversity and inclusion.
The under-discussed and under-studied issue of economic and
retail leakage in the Black community fosters a racially
divided economy where Black consumers are unable to
economically sustain their struggling neighborhoods with
their over one trillion dollars in buying power, and Black
businesses are not able to attract and sustain consumer
demand or corporate engagement and government contracts.
The economic leakage and the slighted, undervalued,
under-performing businesses exacerbate the lack of
entrepreneurship/ job creation/ poverty. In addition, the
racial wealth gap widens due to the financial security,
solidarity, acumen, and awareness of and access to the
financial empowerment tools, strategies and products.
These avoidable and solvable economic and financial
disparities and circumstances result in disproportionate
and worsening poverty, unemployment, under-funded school
systems, depleted tax-bases, crime, racial strife, and a
lack of communal pride and local role models for at-risk
youth. These issues and problems hurt the American economy
and damage race relations.
As a result of The Empowerment Experiment, the Anderson
family's yearlong effort to exclusively engage businesses,
products and professionals from the Black community, EEF
partnered with Northwestern University's elite Kellogg
Graduate School of Management to prove, research, and
analyze economic leakage and the potential impact of
self-help economics/conscious consumerism on a mass scale.
The Empowerment Experiment's landmark study proved that
close to 1 million new American jobs could be created
when African American consumers with HHI of $75,000 or
more were to increase their spending in the community from
the current 3% to 10% of their disposable income. EEF's
mission, projects and programming are driven by this
possibility (increased economic activity in the Black
community) and result (1 million new American jobs,
higher success rates for Black-owned businesses).
The Andersons believe, based on the experience and
expertise gained in The Empowerment Experiment, and the
research and findings of the Kellogg study, that the most
viable way to drive this progression toward a more
racially inclusive economy and economically empower the
Black community is to teach financial literacy; study,
promote and facilitate self-help economics; and drive
more strategic entrepreneurship and supplier diversity.