What We Do

Building a Foundation for

Intergenerational Black Wealth

The Dearfield Fund for Black Wealth helps Black and African American communities build a foundation of intergenerational wealth and financial well-being, primarily through homeownership.

We offer Black and African American first-time homebuyers access to no-interest down-payment funds that can be used toward the purchase of a new home. Upon selling or refinancing, homeowners then return their amount they used from the Dearfield Fund plus 5% of the home’s appreciation to ensure the Dearfield Fund can continue to operate.

Named after the historically black-owned town of Dearfield, Colorado—established after Reconstruction—the Dearfield Fund extends the vision of town founder Oliver “O.T.” Toussaint Jackson, who believed the key to black communities owning their future was unlocking the door to their own homes and property.

Oliver “O.T.” Toussaint Jackson

A car service station in Dearfield

What remains of a Dearfield building

Residents of Dearfield, CO

The final certificate for the Dearfield homestead

The final certificate for the Dearfield homestead

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Oliver “O.T.” Toussaint Jackson

Why We Believe in Generating Black Wealth

After enduring centuries of discrimination, Black and African American people have faced tremendous obstacles while trying to acquire and pass on wealth, particularly through homeownership. From the time the federal government reversed its “40 acres and a mule” policy to the redlining that began in the 1930s, our nation has passed laws intended to prevent members of the Black and African American community from owning a home, and the generational wealth that often comes with it. As a result, the wealth gap between white and Black families with kids today is as large as 100 to 1.

It’s time for that to change

For centuries, homeownership has remained one of the most accessible and powerful ways for individuals and families to build wealth. However, despite having the income and credit to qualify for a mortgage, Black families face biased processes and institutional barriers to buying homes, resulting in unequal access to wealth and down-payment funds.

Testimonials

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Justin Murchison

Justin Murchison

I don’t feel like we have enough to pass down to generations of our families and it makes me such an ecstatic person here in the Colorado area to be able to know that I can contribute to that. I can contribute to the generational wealth of my family, my kids and my nieces and nephews.
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Shakura Wallen

Shakura Wallen

“Owning real estate in the Black community is super important as it helps to generate wealth and equity. As you paid down your mortgage, you are building more cash flow with helps to create more wealth for your family and it’s a generational wealth, not just something that you make today and it’s gone tomorrow. The Dearfield fund is doing an amazing job at helping people acquire such wealth and I’m really grateful for it.”
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Shamae Williams

Shamae Williams

Ownership is important to me because my grandparents and parents own their homes. I grew up in the home my father bought. And my father always impressed on my siblings and I the importance of owning a home and property, and not selling it, but keeping it for future generations; having a place family can always come back to if they need it. Having something that belongs to you
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Demetria Haughton

Demetria Haughton

Most times when you use programs for assistance there is a lot of red tape and endless forms to complete. Upon credit approval I was able to apply for this Dearfield fund and was able to close on my condo within 30 days.