When Black Women Win, Everybody Wins

American society has systematically disempowered its multi-hyphenated individuals. As Camara Jones explains, it is “a system that consists of structures, policies, practices, and norms that structure opportunity and assign value based on phenotype, or the way people look. And what are the impacts of this system? It unfairly disadvantages some individuals and communities.” One demographic that has consistently been marginalized is Black women. Black women in America face a multitude of -isms—racism, classism, and sexism—at the intersection of their identities.

Despite these hurdles, Black women have continually overcome obstacles, succeeding even in environments designed to keep them powerless.

The idea behind uplifting Black women to benefit everyone is rooted in dismantling systems that disenfranchise marginalized communities. Investing in Black women would pave the way for broader systemic change.

In March 2021, Goldman Sachs committed $10 billion in direct investments and $100 million in philanthropic support to address opportunity gaps in healthcare, education, housing, and access to capital for Black women.

Approach

We developed a comprehensive plan consisting of a pre-work landscape analysis and panel listening sessions, guided by Results-Based Accountability to create metrics and indicators for the targeted investments in Black women. The team focused on six key impact areas: healthcare, housing, finance, job creation and workforce advancement, digital connectivity, education, and access to capital.

The landscape analysis compiled existing reports, publicly available datasets, regulatory requirements, and data collection tools to set the foundation for expert panel discussions.

Measuring Success

Our team synthesized insights from the landscape analysis, listening sessions, and previous research to define key metrics and indicators of success for each pillar of investment. These metrics capture the direct and indirect impacts of Goldman Sachs’ investments on Black women.

KEY METRICS

1. Healthcare

• Proposed Metric: Investments in minority/majority communities; healthcare facilities serving at least 25% minority patients.
• Indicators:
  • Direct: Number of Black women using healthcare services at GS-funded facilities.
  • Indirect: Changes in health behaviors of Black women after participating in health programs.

2. Housing

• Proposed Metric: Investments in affordable housing in minority/majority communities and facility repairs in areas with high minority populations.
• Indicators:
  • Direct: Number of Black women moving into affordable housing units financed by GS investments.
  • Indirect: Number of Black families purchasing homes with GS-supported financing.

3. Job Creation and Workforce Advancement

• Proposed Metric: Investments in Black- and women-owned businesses and workforce training programs targeting Black women.
• Indicators:
  • Direct: Number of Black women interacting with mission-driven financial institutions.
  • Indirect: Number of jobs created by Black women-owned businesses supported by GS investments.

4. Access to Capital

• Proposed Metric: Investments in Black- and women-owned businesses, financial institutions, and educational programs for Black women entrepreneurs.
• Indicators:
  • Direct: Number of Black women accessing mission-driven financial institutions.
  • Indirect: Increase in revenue for Black women-owned businesses receiving GS capital investments.

5. Education

• Proposed Metric: Investments in Early Childhood Learning Centers, particularly those managed by Black women or serving minority populations.
• Indicators:
  • Direct: Number of Black women managing Early Childhood Learning Centers supported by GS investments.
  • Indirect: Number of Black women reporting reduced childcare costs due to philanthropic support.

6. Digital Connectivity

• Proposed Metric: Investments in minority/majority communities and rural schools, providing affordable broadband for Black women.
• Indicators:
  • Direct: Number of Black women gaining access to electronic devices through GS-supported initiatives.
  • Indirect: Number of Black families benefiting from telehealth, telework, or education through improved broadband access.

Bottom Line

Goldman Sachs’ investment is a crucial first step toward ensuring Black women are supported across key areas of health and equity. By continually evaluating and addressing systemic barriers, this initiative seeks to promote long-term, sustainable change that uplifts marginalized communities, benefiting not only Black women but society as a whole.