Impact(ed) podcast: Foundations with Essma Bengabsia

What was it?

Impact(ed): Foundations with Essma Bengabsia

When was it?

December 2023

Participants

Essma Bengabsia

Annie E. Casey Foundation

Eric Horvath

Impact(ed)

Lucas Turner-Owens

Impact(ed)

According to Impact(ed), "private foundations manage more than a trillion dollars of capital, which is invested across a variety of asset classes, so that a portion of their financial returns can be given out as grants for social impact."

Podcast guest Essma Bengabsia of the Annie E. Casey Foundation discusses Care Access Real Estate and the untapped power and potential of philanthropy’s approach to investing, as well as how her community and identities have led her to be an impact investor at a $3 billion foundation.

At around 22:10, Essma breaks down the costs of child care in the U.S. compared to pay: It costs approximately on average $20,000 for child care for families with two children, on a median annual pay of $50,000/yr (before tax) for Black and Latinx women.

Essma then shares about CARE and how it allows child care providers—who are disproportionately women of color in the U.S.—build enterprises in neighborhoods that are majority lower-income and families of color, which can help increase access of child care for local families while allowing providers to build wealth.