Nearly four months after losing his bid for a third term, former St. Paul Mayor Melvin Carter will begin an advisory job with GroundBreak Coalition, an organization with nearly $1 billion in funding for wealth-building initiatives focused on closing racial gaps.
GroundBreak Coalition, a Minneapolis-based community funding organization, announced on their social media Thursday that Carter will serve as interim senior advisor. The organization focuses on addressing racial wealth inequality for Black individuals through homeownership, entrepreneurship and commercial development initiatives.
As a leader, Carter has focused on supporting economic mobility, including through initiatives like city of St. Paul-run college savings accounts and the Rondo Inheritance Fund, the organization said in its announcement.
“Families should have tools that help them build stability, not barriers that hold them back. GroundBreak applies that same logic to capital markets — aligning institutions so families and entrepreneurs can build wealth that lasts,” Carter said in a post by the organization.
Carter, who lost his bid for a third term in November, told the Pioneer Press in December that he planned to take a break and denied any plans to run for positions as lieutenant governor or county board member.
GroundBreak Coalition is led by a coalition of more than 40 partners. Board members include leaders with the Bush Foundation, McKnight Foundation, Greater MSP and Ramsey County, among others.
Adair Mosley, who was named as the organization’s first chief executive officer in September, shared the announcement on his LinkedIn.
“I’m excited to welcome Melvin Carter to the GroundBreak team as Interim Senior Advisor,” Mosley said in a post. “His track record of advancing equity and building systems that expand economic mobility will strengthen our work to unlock capital for families, entrepreneurs, and neighborhoods across the Twin Cities. We’re moving with urgency to build a financial system that works for everyone.”
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