Business and Finance
With their vast resources, corporations could be champions of racial equality, but they often hesitate
NEW YORK (AP) — Forward Through Ferguson has left its mark on its community and the St. Louis region with a deal with justice and education, racial equality and police reform.
The Missouri-based nonprofit was founded in 2015 to implement the social changes outlined within the Ferguson Commission report, which aim to handle the problems that contributed to the police shooting death of Michael Brown Jr. and the riots that later erupted in Ferguson, Missouri.
New nonprofits and similar organizations trying to support the community have seen an influx of money from corporations like St. Louis-based Anheuser-Busch and from large philanthropies, from the Bill & Melinda Gates Foundation and the Robert Wood Johnson Foundation to the NBA Players Association Foundation.
It didn’t last long, Annissa McCaskill, executive director of Forward Through Ferguson, told The Associated Press.
She doesn’t need to dwell on the negatives, since so many individuals have generously donated to the organization. But she won’t forget the community group that promised her years of support for the nonprofit, then decided after the primary 12 months that it now not desired to pay. “Our priorities have changed,” the group said. Local businesses that originally supported the group have also stopped, “changing their priorities again.”
It’s not like her organization has ever received the tens of millions in donations that many firms prefer to brag about. In fact, experts say it’s very difficult to trace where the cash from corporations and their foundations goes.
“In many cases, it’s piecemeal,” McCaskill said. “But when you put pennies in the jar, it starts to add up. Sure, I think, ‘How many things do I have to do to get this fund endowed?’”
This lament is common across philanthropy, especially amongst organizations that depend on public donations annually relatively than those, corresponding to Ivy League colleges, which have large endowments that generate regular annual income. It’s also not unusual for nonprofits to see a surge in giving when their cause, from protests to weather events, is within the highlight, only to quickly see the donations dry up.
But the racial reckoning that erupted in Ferguson was alleged to be different.
This article is a component of an AP series examining the impact, legacy and fallout of the rebellion often called the Ferguson rebellion that erupted a decade ago after Brown’s death.
Emerson Electric, a Fortune 500 company headquartered 1 mile (1.6 km) from where Brown was killed, announced its Ferguson Forward initiative a month after the protests. The initiative has committed about $4 million over five years to enhance education, offer college and trade school scholarships, and supply business development for community residents, hoping that other area firms will match it. In 2014, Emerson earned about $2.1 billion in profit on $25 billion in sales.
Experts say firms have many reasons for giving to the community, from the altruistic and civic to the business-related, including retaining employees and constructing a stronger customer and worker base.
Featured Stories
Recent trends indicate that increasingly corporations are offering discounted goods and services along with donating money to communities, says Kari Niedfeldt-Thomas, managing director and COO of Chief Executives for Corporate Purpose, a coalition that advises firms on sustainability and company social responsibility.
“The broad definition of giving, which includes volunteering, community giving, and providing services and products to nonprofit organizations, has increased from 24% of overall corporate or social giving budgets in 2021 to 35% of those budgets in 2023,” Niedfeldt-Thomas said, in response to CECP research.
However, the present negative response to anything that could be considered a diversity, equality or inclusion programme makes it difficult to measure corporate engagement, at the same time as firms allocate more resources to it, she added.
Earl Lewis, professor and director of the Center for Social Solutions on the University of Michigan, said the shortage of transparency is very striking after the avalanche of corporate guarantees and statements following the murder of George Floyd in 2020.
Lewis, who previously headed the Mellon Foundation, and his research team designed a database to make information concerning the commitments and actions of America’s largest corporations on racial equality more accessible.
“Maybe there was a way to actually take people’s word for it that they were going to do something and then try to determine if we could find data in the public domain that supported their claims,” Lewis said, explaining that they had contacted all the businesses on their list and would update the outcomes if they responded with public information.
Companies have few requirements to make this information public, but if they make donations through a company foundation, they will include it on their tax forms.
Lewis’s team, led by data scientist Brad Bottoms, combed through the statements and reports of 51 of the most important U.S. firms from 2020. Just over half, or 27 of the 51, made a public commitment to racial equality this 12 months. Of the businesses that didn’t make a pledge, the researchers found that 10 mentioned racial equality when reporting their giving.
The six firms that made guarantees didn’t provide details on how they delivered, which Lewis and his team said was a priority.
One of those firms, AT&T, didn’t reply to questions on whether it had followed through on its $10 million pledge to historically black colleges and universities.
Social media giant Meta said it has made good on a promise to present $10 million to organizations working for racial equality. The company also said it has given $20 million in money and $12 million in promoting credits to 400 nonprofits serving Black communities, which Meta has not previously publicly disclosed.
Consumer giant Johnson & Johnson said it had spent $80 million of a planned $100 million by the top of 2023 on “community-led organizations and programs” to scale back racial health care inequities, but didn’t specify which organizations.
Business and Finance
David Shands and Donni Wiggins host the “My First Million” conference at ATL
December is the birth month of David Shands and Donnie Wiggins, friends and business partners. Most people have fun by throwing a celebration. Others imagine it must be catered for. The chosen ones spend the day relaxing in peace and quiet.
Then there’s Shands and Wiggins.
The two decided that the best birthday gift can be to offer individuals with resources for generational wealth through a conference called “My first million”in Atlanta.
It’s a compromise between how their families and family members need to honor them and their desire to proceed to serve others. Shands acknowledges that almost all people won’t understand, and he unapologetically doesn’t expect them to.
“It’s not up to us to convince anyone why we do what we do,” admits Shands.
“I think everyone does what they do for different reasons, and I would just attribute it to a sense of accomplishment that I can’t explain to anyone else.”
He doesn’t need to clarify this to Wiggins because she understands his feelings. Wiggins has had a passion for serving others for so long as she will be able to remember.
“When I was in middle school, there were child sponsorship ads on TV featuring children from third world countries. I was earning money at the time and I asked my mother to send money,” she says BLACK ENTERPRISES.
She recalls how sad she felt for youngsters living in a world with so many opportunities, but at the same time going hungry. Her mother allowed her to send money, and in return she received letters informing her of their progress.
“It was very real to me,” Wiggins says, now admitting she’s undecided the letters were authentic. “I received a letter from the child I sponsored, a photograph and some updates throughout the 12 months. It was such a sense of being overwhelmed and it was something I felt so good about. I didn’t even tell my friends I used to be doing it.”
She carried this sense throughout her life, even when she lost every little thing, including her house, cars, and money. She still found ways to serve and give back, which is the basis of her friendship with Shands.
They each love seeing people at the peak of their potential, and that is what “My First Million” is all about. There can be no higher birthday gift for them than helping others create generational wealth.
What to expect during the “My First Million” conference.
They each built successful seven-figure empires, then train others, write books about it, and launch an acclaimed podcast Social proof.
Now they’re imparting that knowledge through the My First Million conference, an event for aspiring and existing entrepreneurs. Shands and Wiggins need to prove that being profitable is feasible and encourage people to bet on themselves.
“David and I, on paper, are not two people who should have made millions of dollars. Number one, we want (people) to see it,” Wiggins says. “Then we want them to actually get out of that room with practical and actionable steps.”
Both are clear: this just isn’t a motivational conference. This is a conference where people, irrespective of where they’re of their journey, will come away with clarity about their business and what they must be doing as CEOs. Shands and Wiggins want individuals who do not have a transparent marketing strategy or are considering starting a business to also attend the meeting.
“A few areas we will cover are inspiration, information, plan and partnership,” adds Shands. “We will give you 1-2-3 steps because some people get depressed and uninspired. Even if they know what to do, they won’t leave, go home and do it. So we have to really put something into their heads and hearts that they come away with.”
Sign up and enroll for My First Million Here. The conference will happen on December 13 this 12 months. but Shands and Wiggins say it definitely won’t be the last for those who miss it.
Business and Finance
Operation HOPE on the occasion of the 10th annual world forum
Operation HOPE Inc. takes over Atlanta for the biggest game in the country dedicated to financial literacy and economic empowerment, Saporta reports.
The HOPE Global Forums (HGF) Annual Meeting 2024 strengthens the crucial link between financial education, innovation and community upliftment in hopes of finding solutions to the problems that stifle challenges around the world.
Organized by Operation HOPE founder John Hope Bryant, together with co-chairs Atlanta Mayor Andre Dickens and U.S. Ambassador Andrew Young, the forums, to be held December Sep 11 at the Signia Hotel, will have fun its 10th anniversary with three days of engagement discussions, observations and forward-looking presentations.
Under the theme “The Future,” Hope Bryant says attendees are looking forward to a “powerful moment in history.”
“Over the past decade, we’ve brought together great minds with daring ideas, servant leaders with voices for change, and other people committed to a brand new vision of the world as we realize it. “‘The Future’ is a clear call to action for leaders to help ensure prosperity in every corner of society,” he said.
The extensive program includes influential and well-known speakers who address business, philanthropy, government and civil society. Confirmed speakers include White House correspondent Francesca Chambers, media specialist Van Jones and BET Media Group president and CEO Scott M. Mills.
“John Hope Bryant and his team have been doing this for ten years, and every year HGF raises the bar,” Young said. “Discussions about the FUTURE are important not only for civil dialogue; they are also essential to bridging the economic divide and solving some of today’s most important problems.”
Atlanta is predicted to welcome greater than 5,200 delegates representing greater than 40 countries.
“I have long said that Atlanta is a group project, and through our partnership with HOPE Global Forums, we are inviting the world to join the conversation,” Dickens mentioned. “From home ownership and entrepreneurship to youth engagement and financial education, HGF will offer bold and innovative ideas to ensure a bright future for all.”
It coincided with the organization’s annual meeting launched one other path to enhance financial knowledge with HOPE scholarships. With three tiers of scholarships – HOPE Lite, HOPE Classic and HOPE Silver – clients could have access to free financial coaching and academic resources.
Business and Finance
New Orleans’ black business district is marked by history
New Orleans has given a historic monument to a Black business district closed for interstate construction.
The marker was a project fulfilled by in response to the initiative of Plessy and Ferguson. Founded by descendants of men involved within the Plessy v. Ferguson case that legalized segregation within the United States, the organization worked with other community groups to put a marker under the Claiborne Viaduct.
Before the upheaval, Black New Orleanians could find stores owned by other members of their community on Claiborne Avenue. Racial discrimination originally limited the power to buy on the famous Canal Street. Given this, blacks as an alternative flocked to the realm to purchase every little thing from groceries to funeral arrangements.
This mall was home to many Black-owned businesses, and emerging and established entrepreneurs had arrange shop for generations. Consisting of pharmacies, theaters, studios and more, it helped maintain a vibrant black culture in the realm. It reigned because the most important street of Black New Orleans from the 1830s to the Seventies.
The street once featured a picturesque cover of oak trees surrounding bustling businesses. However, its decline began with the expansion of roads within the southern state. The first casualty was the oak trees that were cut all the way down to make way for the development of Interstate 10, and shortly thereafter, the district’s thriving entrepreneurs suffered an identical fate.
Many residents do not forget that they didn’t know in regards to the upcoming investment until the trees began falling. Raynard Sanders, a historian and executive director of the Claiborne Avenue History Project, remembered the “devastation” felt by the community.
“It was devastation for those of us who were here,” Sanders told the news outlet. “I was walking to school and they were cutting down oak trees. We had no warning.”
Despite its eventual decline, the district stays an integral a part of Black New Orleans entrepreneurship. Now the town will physically resemble a historic center where Black business owners could thrive. They celebrated the revealing of the statue in true New Orleans style with a second line that danced down Claiborne Avenue.
“The significance of this sign is to commemorate the businesses, beautiful trees and beautiful people that thrived in this area before the bridge was built, and to save the people who still stand proud and gather under the bridge,” also said Keith Plessy, a descendant of Homer Plessy’ ego.
The growth of local black businesses continues. Patrons and owners alike hope to evoke the spirit of Claiborne’s original entrepreneurs, empowering the community.
-
Press Release9 months ago
CEO of 360WiSE Launches Mentorship Program in Overtown Miami FL
-
Press Release8 months ago
U.S.-Africa Chamber of Commerce Appoints Robert Alexander of 360WiseMedia as Board Director
-
Business and Finance7 months ago
The Importance of Owning Your Distribution Media Platform
-
Business and Finance9 months ago
360Wise Media and McDonald’s NY Tri-State Owner Operators Celebrate Success of “Faces of Black History” Campaign with Over 2 Million Event Visits
-
Ben Crump8 months ago
Another lawsuit accuses Google of bias against Black minority employees
-
Theater9 months ago
Telling the story of the Apollo Theater
-
Ben Crump9 months ago
Henrietta Lacks’ family members reach an agreement after her cells undergo advanced medical tests
-
Ben Crump9 months ago
The families of George Floyd and Daunte Wright hold an emotional press conference in Minneapolis