Empowering
Fiscal
Justice
We are a public finance research firm dedicated to influencing municipal budgets, policies, and leaders for the betterment of Black communities.
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Manifesto 2025
We're Meeting the Moment An End-of-Year Note from Micah, Napoleon, and the Activest Team Our cities are caught between impossible pressures. Federal funding is collapsing—Medicaid cuts loom in 2026, renewable energy credits are expiring and $27B in funding for energy...
A Statewide Fiscal Justice View of New Jersey
In 2022, Activest began the work of building relationships and a research agenda in New Jersey. This effort was commissioned by the Robert Wood Johnson Foundation, with the exploratory goal of learning together what fiscal justice means and what the idea offers...
Agent of Impact: Napoleon Wallace, Southern Reconstruction Fund: Restorative capital for Black wealth
nNapoleon Wallace’s presence was all over the recent Mission Investors Exchange conference in Baltimore. …As the co-founder of Activest, which showcased its “fiscal justice” strategy to center racial equity in fixed-income investments. …As a founding...
The 2022 Joan Bavaria Award is presented to co-founder Napoleon Wallace
nCeres and Trillium Asset Management were deeply honored to present the 2022 Joan Bavaria Award to Napoleon Wallace at Evening with Ceres. Napoleon is a pioneering leader and strategic thinker who has launched, led, and advised numerous successful impact-focused...
Out of the Frying Pan and Into the Line of Fire: How Minnesota Cities Are Displacing People of Color and How the Suburbs Are Killing Them
nIn this report: Data overview on Brooklyn Center’s fiscal justice issues (which we define as issues at the intersection of fiscal health and racial justice)The Activest theory of change and organizing tactics & strategies for leveraging municipal bondholders in a...
Community
Empowerment
through Finance
Our work in municipal finance directly supports and empowers marginalized communities, emphasizing our team’s dedication to fostering equity and inclusion.
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