Six years ago, Madison-area real estate and community leaders launched “Own It: Building Black Wealth” to address racial inequities in homeownership and help Black and brown families build generational wealth. The nonprofit, which combines homeownership education with down payment grants, has helped 34 families purchase homes totaling more than $10.2 million in real estate.
Now, Own It is launching a search for its first executive director.
“We’re really looking for someone who can take what we’ve built and build on it,” Sara Alvarado, co-founder and interim executive director of Own It, tells Madison365. “We have the infrastructure and foundation in place, and we want someone steady, consistent and visionary, who can help us realize the program’s potential. It’s still a newer concept, and it’s continued to grow over time. We don’t necessarily need to change how it works. We need someone who can build it deeper, expand it wider and help guide its continued growth.”
There is currently a 31-percentage-point gap in homeownership rates between White and Black households in the United States. White homeownership stands at 75%, compared with 44% for Black households, according to the U.S. Census Bureau.
“The new executive director would really need to understand why we’re doing this, the historical context and how racism remains embedded in these industries,” Alvarado says. “This isn’t just historical. It’s still happening today. When that reality is front and center, it’s hard not to want to continue addressing these horrific disparities.
“That passion for wanting change is what gets people excited about the program — seeing how serious the problem is and putting that front and center. We want to talk about the problem, but we also have something that can be part of the solution,” she adds.
Own It: Building Black Wealth is a Madison-based 501(c)(3) nonprofit working toward racial justice in real estate by increasing generational wealth in Black and brown communities through homeownership.
“We’ve always been unapologetic about why this work exists,” said OWN IT Co-Founder Tiffany Malone in a press release. “Own It was built because racial inequities in homeownership and wealth are real, and we believed our community could be part of changing that. This next chapter is about making sure the organization has the leadership and foundation to carry that work forward.”
Own It provides education, down payment grants, mentorship and post-closing support in partnership with local organizations. The down payment grants are usually $19,000.
“If we gave less, we could impact more people. But at the same time, we want this to be truly impactful for families, so that’s one of the reasons we’ve remained consistent with the $19,000 amount, which is the federal gift tax limit amount,” Alvarado says.
“But it’s been incredible for the families. Just being able to have your own home and know that you’re building equity, while also gaining the knowledge to understand the process, has been really meaningful,” Alvarado continues. “A lot of people have said the education has been the most significant part [of the OWN IT program]. Obviously, people appreciate the financial assistance, but what they’ve learned through the program stays with them forever.”
Own It launched its first education program with One City Schools in 2021 under a fiscal sponsorship and awarded its first down payment grants in 2022. After more than two years of piloting and refining the program, Own It applied for independent nonprofit status in 2024, expanded its community partnerships to include Centro Hispano and Anesis Therapy, and received its 501(c)(3) designation in January 2025.
Along the way, the organization has built the infrastructure, team and systems needed to support its growth while remaining focused on its original mission of addressing racial inequities in homeownership and increasing generational wealth in Black and brown communities.
Understanding how the system works is another important part of the program, Alvarado says.
“When people can see how it works, they feel like they have some power,” she says. “A lot of times, we think about the highest need, and homeownership isn’t necessarily the highest need. But when we think about the long game of creating wealth, that’s where it’s at. This is a direct way to create change in what families have access to for their own security and stability.
“This is not a Band-Aid,” Alvarado adds. “This is deeper change.”
Own It is seeking a full-time executive director to lead the organization into its next stage of development. Applications are due Oct. 9. The full job posting, including qualifications, compensation and application instructions, is available here.
