August 2026

Dear friends,

On Aug. 12, as an update to its 2015 report titled “The Color of Wealth in Boston,” the Federal Reserve Bank of Boston released findings from its 2025 Massachusetts Economic Conditions and Household Opportunity Survey. For people who work in the community development sector, the results were both staggering and unsurprising. We know that the wealth gap persists in Massachusetts. But it’s another thing to see the stark numbers from the survey laid out so clearly:

The median net wealth for white families ($549,200) far outstrips that of Hispanic families, which is just $1,200, and Black families at $7,800.
About 1 in 6 families have zero or negative net wealth. More than a third of families statewide couldn't cover a surprise $400 expense with cash on hand.
In Gateway Cities, one of which Nectar calls home and many of which we serve, median family net wealth was $101,500, far below the statewide median of $374,000. About half of Gateway City families couldn’t cover that $400 surprise expense.
The most clear driver of the wealth gap: homeownership. The median net wealth for homeowners was $790,500. The number for renters? Just $1,500. According to Census data, about 70 percent of white households in Massachusetts own their homes, compared to 39 percent of Black households and 32 percent of Latino households.

Those last numbers and the enormous divide they represent really stuck with me. But their gaps have reminded me why we’re so committed to supporting homeowners as they work to improve their most valuable asset. The report’s other findings also show why we must support our small business owners in Gateway Cities, as owning a business is proven to boost net worth for the populations we serve.

The numbers don’t lie. We still have a great deal of work to do. And we’re as committed as ever to closing the gap, staying true to our mission of growing the assets and wealth of underserved communities.

I encourage you to read the full report and to join us in making a difference. Thank you for your support.

With gratitude,

Alexandra Nova

Chief Executive Officer

Nectar Community Investments

Time flies when you're answering questions about home repairs

No dog days of summer for our residential team!

You might have seen them tabling at Lawrence's National Night Out, a fantastic event with a great turnout; attending the Multi-Chamber Mixer with the Peabody Area Chamber of Commerce, Southern New Hampshire Chamber of Commerce and Greater Haverhill Chamber; or at the Massachusetts Mortgage Bankers Association networking event.

We loved seeing many of you throughout our travels in the Merrimack Valley and beyond! And if we didn't catch you this time, keep an eye out for us at your next community event.

A founder's journey from Valet to the World Cup

Ricardo Louis, the CEO and Founder of Privé Parking and a Business Equity Initiative graduate, recently capitalized on a world-class opportunity: a contract with FIFA to offer shuttle services to games at Boston Stadium during the 2026 World Cup.

He recently shared more about the story behind his business, how he connected with FIFA, and the BEI lessons that helped drive his success.

Read the full story

Interested in learning more about BEI and how it might help your business?

Learn more

Support Nectar and earn state tax credits

For the second year in a row, the Massachusetts Executive Office of Housing and Livable Communities has allocated $375,000 to Nectar in Community Investment Tax Credits (CITC). Through this program, donations of $1,000 or more to Nectar are eligible for a 50% refundable Massachusetts state tax credit. So, when you give more, you get half back.

Thank you to the Healey-Driscoll Administration and EOHLC for their support of our organization and mission. If you've been thinking about supporting Nectar, this is a unique opportunity to make a difference AND save money on your taxes

Support Nectar's community impact

About Nectar

Nectar Community Investments is a certified CDFI and CDC that provides flexible growth capital, technical assistance and strategic advisory services to small business owners and homeowners in historically disinvested communities. With our robust advice, resourced networks and capital investment, we aim to grow sustainable, thriving and diverse communities driven by equal access and opportunity.

nectarinvests.org