Commonwealth is a national nonprofit building financial security and opportunity for people living on low and moderate incomes—partnering with employers, financial institutions, fintechs, and policymakers to design and scale solutions that make wealth possible for everyone.
Our mission
Households earning low and moderate incomes often face financial volatility, rising costs, and limited access to quality financial products. Better solutions are possible—and we’re building them.
Commonwealth’s mission is to make it possible for all people to build wealth. We identify, build, and scale solutions that expand financial security.
Research That Reveals What Works
We conduct custom research into the financial needs of people living on low and moderate incomes and share findings publicly to inform solutions and influence industry and policy.
Solutions Designed With Partners
We work with employers, financial institutions, fintechs, recordkeepers, payroll providers, and policymakers to co-design and test solutions that are feasible, scalable, and evidence-based.
Impact That Scales
We combine rigorous research with market expertise to move solutions from pilot to proof to scale, helping families gain stability, employers strengthen their workforce, and financial institutions expand equitable access.
Enabling Wealth Building for All
Our Theory of Change
OUR IMPACT
To date, our work has enabled over 2.5 million people to save nearly $9 billion.
Commonwealth is committed to creating financial security and wealth for all. By 2027, our strategic plan will enable 10 million families to build $15 billion in wealth through the workplace, in capital markets, and by leveraging financial AI.
The principles that guide our work, our partnerships, and our commitment to financial opportunity.
Our values shape how we approach our work and engage with partners and stakeholders. These values reflect our commitment to advancing financial security and opportunity for all.
Commonwealth recognizes that financial insecurity in the United States disproportionately impacts Black and Latin households and women across racial groups.
Passionate About Financial Opportunity
We believe financial systems should advance financial security and opportunity for everyone—especially those with the fewest resources.
Action-Oriented
We turn research into actionable insights and real-world impact for people living on low and moderate incomes.
Data-Driven
We solve systemic problems with evidence-backed, research-informed solutions.
Collaborative
We work with employers, financial institutions, fintechs, and policymakers because meaningful, lasting change demands collaboration.
Ingenious Problem-Solvers
We are creative and pragmatic, and we see opportunities to improve financial well-being where others may not.
Centering Equity
Financial insecurity in the United States is not distributed equally.
Financial insecurity in the United States is not distributed equally. Systemic racial and gender inequities have shaped who has wealth and who faces barriers to build wealth today. Our work is designed to help change that.
The wealth gap falls hardest on Black, Latin, and women-led households in large part due to decades of systemic barriers embedded in the systems that shape people’s financial lives.
Commonwealth develops research and designs solutions that directly address these barriers and then partners with employers, financial service providers, fintechs, and policymakers to drive systemic change.
The late 20th century saw huge innovation in financial services, yielding an array of new products and services typically geared toward wealthier consumers. At the same time, social scientists were rethinking strategies to help low-income people achieve their financial goals, recognizing that wealth creation—rather than just current income—was essential to foster economic security and social mobility.
Commonwealth emerged from the intersection of these two developments in financial innovation and asset focused social policy. Commonwealth co-founder and Harvard Business School professor Peter Tufano recognized that promising community-based asset building programs were not scalable. Having worked in community, former Human Resources executive and co-founder Timothy Flacke joined Tufano to pursue a novel vision: apply the financial innovation and scale infrastructure serving affluent consumers to enable wealth creation for millions of people living on low and moderate incomes.
Over time Commonwealth developed an approach to innovation that marries private sector capabilities and scope with nonprofit ideals. For more than two decades, Commonwealth has partnered with employers, financial institutions, fintechs, and policymakers to build and scale solutions that help people save, build wealth, and achieve greater financial stability. By combining research, innovation, and cross-sector collaboration, we work to create a financial system that is more inclusive, accessible, and designed to support long-term financial security for all.
How We Started
2001
Doorways to Dreams (D2D) forms
2003
D2D, SunGard & CBOs show people living on low incomes can build wealth online
D2D and U.S Treasury hold first financial capability mobile app competition
2014
U.S. Congress passes D2D’s American Savings Promotion Act
2016
D2D becomes Commonwealth
2017
Commonwealth advises Walmart, Green Dot on “Prize Savings,” resulting in $2B+ in savings
2019
Commonwealth chosen to co-anchor BlackRock Emergency Savings Initiative
2020
Commonwealth responds to pandemic and racial reckoning
2022
Congress passes retirement plan emergency savings policy
2023
Emergency savings reaches systemic tipping point, $2+ billion in savings
2025
Working with a coalition of 50+ partners, helped connect more than 22 million workers to emergency savings solutions supporting the creation of nearly $8 billion in new liquid savings
2026
Celebrating 25 years of building financial security and opportunity through innovation and partnerships for households earning low and moderate income
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