Red Mountain Foundry
& Economic Justice Incubator
Named after Birmingham's Red Mountain, the ridge that supplied the iron ore that made it the "steel city of the South" and that provided the materials that built so much of America, the Red Mountain Foundry exists to build something new -- an economy where all can thrive. RMF uses a cooperative strategy, forging strategic partnerships that start with helping people escape poverty, but don't stop there. They also grow wealth, enhance stability and help us shift to an economy that works for all of us.
Level Up Tech Partnerships - Co-founded with Paul Reynolds, CEO of iPeerion Ventures and with support from the iPeerion team, Level Up develops anti-poverty tech, then partners with in-sector companies to bring that technology to the market. The work is based on a unique combination of MMI's systemic understanding of poverty drivers and iPeerion's track record building socially redemptive technology. Tools include:
Fair Marketplace -- An ecommerce platform where people can buy good-quality products – everything from baby formula to auto insurance – at fair prices. The Purchasing Power Fair Marketplace enables anyone and everyone to engage in economic advocacy on behalf of both others and themselves, simply by choosing products by companies that are committed to not effectively charging the poor more.
Home Rental Platform - No application fee, income-based qualifications, limited contracts, reasonable terms, bundled utilities and safety-net programs like Rainy Day Rent.
Real Estate Tech: MLS Platform for accessible homes (designated place to find fairly priced, market-rate homes that lower-income workers can afford, with simplified ownership terms). Accessible Mortgages - (non-credit-contingent, minimal down payment mortgage instruments with modest, fair, fixed interest rates).
Pension Platforms - Retirement provisions for gig workers, Housing Pensions for home rental customers, and an equity-share platform for companies who want to invest their employees and customers in the company's success.
HomeWorks Homes - Founded by MMI board members Crystal Crawford, and Damian Broadnax, and based on Crystal's lived experience with poverty and homelessness, HomeWorks is a Social benefit real estate firm that makes home ownership a reality for low-income workers by offering micro-condos, mini-co-ops, and community-owned manufactured home lots -- all with credit non-contingent financing included, with favorable interest rates and with minimal down-payments.
Home ownership is the fastest, single most effective way to interrupt inter-generational poverty, and today, is the primary reason the average Euro American household has six times the household wealth as the average African American household.
Poverty Zero/All Inclusive -- B-Corp-like certifications that assess organizations on their commitment to diversity, inclusion and economic fairness, accountability tools that shift power to the people, and awards that recognize companies that are dedicated to being places where all can thrive. Provide guidelines for how companies can make their talent systems more inclusive, a framework for offering a Minimum Viable Wage to the company's lowest-paid employee, and standards for fair pay for everyone.
Non-employee Union - Gives independent contractors and undocumented workers the ability to access bundled services usually provided by employers, including Worker's Comp, unemployment insurance, Social Security contributions, tax withholding, insurances, retirement accounts, miscellaneous benefits and the ability to bank paid time off, plus additional services like credit union membership, tax prep, credential assistance, contract review and support launching micro-ventures.
