Photo Credit: Auraria Higher Education Center
The Anchor Mission Framework:
LEVERAGING INSTITUTIONAL ASSETS TO CREATE A HEALTHY, INCLUSIVE LOCAL ECONOMY.
Anchor Institutions are large, place-based, nonprofit or public entities that are anchored in communities.
This includes hospitals, universities, museums, municipalities, and school systems that have a mission to
serve the public good through the services they provide.
The Anchor Mission Framework Recognizes that . .
There is a well-documented racial wealth gap in the U.S. Black and Brown individuals and communities are disproportionately left out and left behind, in terms of economic prosperity.
Anchor Institutions’ health and well-being are intertwined with the health (broadly defined) and well-being of the residents they serve and the regions where they are located.
Anchor Institutions are economic engines whose business practices can be leveraged to combat systemic racism, creating economic opportunity so that more Brown and Black people, businesses, and communities can thrive; leading to healthier communities for all.
The Anchor Mission Framework does not involve a rewrite of an institution's mission. It refers to a lens through which business decisions are made. It is not a charity model. For sustainability purposes, the decisions must make business sense
How do Anchor Institutions Impact the Economy?
By their sheer size, anchor institutions have a significant economic impact: they purchase a large amount of goods and services and employ a large workforce to carry out their operations. In addition, many anchor institutions have investment assets deployed in a variety of financial instruments.
Examples of How to Leverage Anchor Institution Business Practices for a Healthier Community:
Purchase from Black, Indigenous, People of Color-owned, (BIPOC) local businesses, whenever possible.
Eliminate policies that advantage doing business with large corporations over small, local businesses.
Unbundle contracts so smaller firms have an opportunity to submit a bid.
Write policies to support bid evaluation criteria that awards points for being local, paying a living wage,
hiring people with barriers to employment, etc.
Pay a living wage for entry level positions. Create deliberate career pathways for people in entry level positions and encourage employee participation.
Engage current entry level workers in designing career pathway programs.
Track how these HR practices reduce costly turnovers.
Anchor Institutions are economic engines whose business practices can be leveraged to combat systemic racism, creating economic opportunity so that more Brown and Black people, businesses, and communities can thrive; leading to healthier communities for all
For more information, contact:
Michelle Sturm, Anchor Strategy Director