Located in Community Builders of Kansas City’s 5008 Prospect building, Generating Income For Tomorrow’s (G.I.F.T.) goal is to create a clear path to economic prosperity and wealth for the African American community in Kansas City.
G.I.F.T. provides grants to Black-owned businesses, especially those that operate in low-income areas, to create more jobs and convert an economically disadvantaged area into one of opportunity. In addition, it offers a full-service business center and coworking space with 10 cubicles available by reservation. Support includes resources to address banking, accounting, legal and marketing services and business classes, coaching and headshots.
Founded in 2020, G.I.F.T. has fought for impactful change to close the racial wealth gap, reduce poverty-related crime and reverse the effects of systemic racism in our city.
Due to the discriminatory practices of redlining (refusing a loan or insurance to someone because they live in an area deemed to be a poor financial risk) in Kansas City, Troost Ave. has long been seen as the dividing line between Black and white people of Kansas City and the dividing line between high- and low-income communities.
According to G.I.F.T., zip codes 64109, 64110, 64127, 64128, 64130 and 64132 located east of Troost Ave. have the highest populated, low-income communities in Kansas City. Collectively they have a population of 107,398 and a poverty rate of 36 percent. Of those 107,398 residents, 75.18 percent of them are Black.
Conversely, zip codes 64113, 64114, 64118, 64119, 64151 and 64152 located west of Troost have the highest populated, high-income communities in Kansas City. With a combined population of 145,554 residents and a poverty rate of just 5.03 percent, 91.82 percent of residents are white.
Investing in Black-owned businesses in low-income communities is a proven method of increasing the economic prosperity of the community. However, a 2017 study by the National Community Reinvestment Coalition found that banks were twice as likely to provide business loans to white applicants than Black ones, and three times as likely to have follow-up meetings with white applicants than more qualified Black ones.
G.I.F.T. provides $25,000 and $50,000 growth grants and $10,000 startup grants. The organization’s plan is to award a minimum of one growth grant and one startup grant per month and hopes to eventually create 100-200 new jobs in low-income communities each year. Its goal is to see a steady decline in the poverty rate of the urban core.
Through the generous donations of its sponsors, G.I.F.T. has been able to award $239,000 to 14 Black-owned businesses, creating 22 jobs in Kansas City’s urban core as of December 2021.
The business center is open to the entire community weekdays 9:00 a.m. to 5:00 p.m. and all services are free.
You can support G.I.F.T. in its efforts to end systemic racism by volunteering, donating or planning a fundraiser. Learn more at www.kansascitygift.org or 816-766-7860.