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Rocket Community Fund Invests in “Stable, Healthy Housing” for Underserved Communities

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Detroit resident Romell Johnson had two goals: to construct his savings and begin a brand new profession. Rocket Community Fund, a philanthropic partner of Rocket Companies, helped achieve this with the Rocket Wealth Accelerator program.

The program, launched in late 2022, is a $2 million investment from Local Initiatives Support Corp. (LISC), which promotes financial stability for underserved residents of Detroit, Cleveland, Milwaukee and Atlanta. Designated LISC Financial Opportunity Centers help clients improve emergency fund management, construct credit and construct generational wealth.

Thanks to this system, Johnson was able to avoid wasting $500, buy a brand new automotive and budget for the longer term.

“I feel unstoppable. I’m more confident in my financial stability if an emergency happens,” Johnson said.

“It made me realize that new goals are possible. Why not work toward buying a house?”

Michael T. Pugh, president and CEO of LISC, said greater than 2,400 people have benefited from financial counseling that focused on topics including constructing emergency savings and saving for a house.

Pugh added, “The Rocket Wealth Accelerator matched savings program has already unlocked $280,000 for community members. And Rocket’s commitment to financial inclusion and wellness aligns perfectly with LISC’s mission and dedication to closing wealth and opportunity gaps—we are deeply grateful for this catalytic partnership.”

The Accelerator is considered one of several programs supported by the Fund that aim to assist underserved communities overcome systemic challenges in accumulating and transferring wealth.

MISSION INCLUDES A VOW TO SIMPLIFY UNFAIR SYSTEMS

The Fund’s goal is to simplify complex and inequitable systems to make sure that every American has access to stable, healthy housing. It focuses on 4 national investment pillars: ending homelessness, stopping displacement, constructing wealth through homeownership, and bridging the digital divide. A fifth investment pillar, shared with the Gilbert Family Foundation, focuses on constructing opportunity in Detroit. Since 2010, Rocket Community Fund has committed greater than $230 million to community organizations and programs.

The foundation of the Fund’s work is Neighbor to Neighbor, a door-to-door outreach campaign that connects residents with resources and gathers information to tell future investments. The program began in Detroit in 2017 to scale back tax foreclosures. It has since expanded to Cleveland, Milwaukee and Atlanta.

“The access to housing resources and information, coupled with the connectivity that happens through Neighbor to Neighbor, is the secret sauce of the program,” said Rob Lockett, national housing stability team leader at Rocket Community Fund.

“Through this process, community members become stronger and better able to advocate for themselves.”

As Lockett explains, through Neighbor to Neighbor, “residents are encouraged to get out and talk to each other about housing issues that affect their community and that are most felt at the neighborhood level.”

SOLVING A FULL SPECTRUM OF HOUSING PROBLEMS

Rocket Community Fund

In 2018, Rocket Community Fund became a lead sponsor of Built for Zero, a nationwide movement of greater than 100 communities focused on ending homelessness. Since 2015, Built for Zero communities have housed greater than 176,000 people.

“Our support for Built for Zero is intended to help communities across the country develop better systems to respond to the challenge of homelessness,” said Rocket Community Fund Executive Director Laura Grannemann.

“The data shows that providing housing with supportive services is not only more effective in reducing homelessness, but also significantly reduces spending on emergency services such as hospitalizations, incarceration and shelters.”

She added: “By identifying wider trends we can also act early on in the problem to prevent more people from becoming homeless.”

An example of this upstream approach is the recent investment by Rocket Community Fund in Atlanta. In March 2024, the organization announced $250,000 in recent funding to guard senior and elderly homeowners in Atlanta from displacement by paying off previous property balances. This follows a $500,000 investment in 2022 in the Atlanta BeltLine Partnership’s Legacy Resident Retention Program (LRRP), which stabilizes property tax rates for income-qualifying residents through 2030.

Atlanta Mayor Andre Dickens praised efforts to stop displacement of everlasting residents.

“Our vision of ‘one city, one bright future’ can only be achieved through partnerships that prioritize our most critical needs, like stable and safe housing. I am grateful to Rocket Community Fund for their commitment to promoting equity and economic inclusion for Atlantans.”

Rocket Community Fund understands the vital role renters play in a healthy housing market. In Atlanta, the organization invested $300,000 in the Atlanta Volunteer Lawyers Foundation to strengthen its eviction defense services. It also invested $1.25 million to launch the Cleveland Eviction Defense Fund.

I feel unstoppable. I feel like my destiny is written by me. I’m more confident in my financial stability because if an emergency happens, I now have flexibility.”

While eviction protections for tenants prevent instability, Rocket Community Fund works to assist tenants change into homeowners through programs like Make It Home.

The program, which began in Detroit, allows eligible tenants occupying foreclosed homes to change into homeowners slightly than face eviction. The program uses the town’s “right of refusal” to purchase properties before the foreclosure auction for the worth of the delinquent taxes. The properties are then purchased by a nonprofit partner with financial support from the Rocket Community Fund and sold to the tenant under a land contract for the fee of the delinquent taxes. A complete of 1,500 families have change into homeowners through this system.

BUILDING GENERATIONAL WEALTH

Rocket Community Fund
Rocket Community Fund

The Rocket Community Fund goals to make sure that more Americans can enjoy the advantages of homeownership and pass on wealth to future generations, especially Black Americans who’ve faced systemic barriers to homeownership.

Since 2010, the wealth gap between black and white families has grown. As the fee of homeownership continues to rise across the country, significant effort and focus will probably be needed to assist reverse this trend.

While the dimensions of the challenge could seem overwhelming, the Rocket Community Fund team uses its core philosophies, ISM, to discover solutions.

“One of our ISMs is ‘You will see it when you believe it,’” Grannemann says. “That means we are driven by positivity and the belief that we can overcome big challenges. Instead of sitting on the sidelines and waiting for change, we work with our social partners to make it happen.”

This article was originally published on : www.blackenterprise.com
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Business and Finance

Gary Payton Launches Greater Purpose Cannabis Brand

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Gary Payton, Green Label Rx


Former NBA star Gary Payton recently partnered with Green Label Rx to launch Greater Purpose, a cannabis-infused wellness brand with recovery support for athletes and professionals.

The product will debut on September 20 at Hall of Flowers, a cannabis industry trade show in Santa Rosa, California. The former legendary Seattle Supersonic guard has teamed up with Green Label Rx founder Jason McKnight to bring the product to the world.

“Having maintained peak physical fitness throughout my career, it became important to me to share the benefits of cannabis recovery and offer the highest quality wellness products to those with an active lifestyle,” Gary Payton said in a written statement.

Greater Purpose bills itself as the primary brand of its kind to mix the worlds of recovery and cannabis. The topical product line will help alleviate chronic muscle pain, because it has been developed to harness the healing properties of cannabis and is designed to assist those with an lively lifestyle.

During the Hall of Flowers festival, people will have the opportunity to experience Greater Purpose, receive exclusive prizes, watch live product demos and meet Payton on the event.

“Greater Purpose is more than just a product line – it’s a movement to change the way we think about recovery and self-care,” said Jason McKnight.

It was recently revealed that Payton, who has been coaching basketball for several years, was announced as the brand new head coach of the College of Alameda men’s basketball team. He will lead the team after serving as head coach at Lincoln University in Oakland, California for the past three seasons.

Payton has coached within the Big3 Ice Cube league since its inception in 2017. He led his team to a title last season and was named Big3 Coach of the Year.

In 2006, he won the NBA championship with the Miami Heat. The 56-year-old played within the NBA for 17 seasons with the Seattle SuperSonics, Miami Heat, Milwaukee Bucks, Los Angeles Lakers and Boston Celtics. In the 1995-96 season, he was named the NBA Defensive Player of the Year, becoming the primary point guard to win the award.


This article was originally published on : www.blackenterprise.com
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2nd Annual Franchise Game Symposium in Plano, Texas Breaks New Ground

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Tarji Carter - The Franchise Game Founder / Event Organizer


Franchise gameThe first and only African American Franchise Symposium and Trade Show in the U.S., held its second annual event on August 16, 2024 in Plano, Texas. The event, which was spearheaded by The Franchise Player, Tarji Carter, marketing expert Dessie Brown Jr., and brand consultant Daylon Goff, was held on the Yum! Restaurants International Corporate Campus. The symposium brought together industry experts and leaders to debate the secrets to success, challenges, and opportunities in franchising.

(Photo credit: Donnie R. Word II)

This yr’s theme, “Own Your Future: Franchising as a Path to True Independence,” was the focus throughout the day. There were many notable highlights, but in keeping with Tarja Carter, “One of the most memorable moments at The Franchise Game 2024 was an incredible fireside chat with our esteemed guest, Roland Parrish, and the incredible Lady Jade. Roland’s story of how he used his success to revitalize a struggling community in Dallas through his foundation is truly inspiring. And his sponsorship of Charlie Pride’s internship with the Texas Rangers Baseball Club shows just how deep his commitment runs. But what really stole the show were the priceless gems he dropped, encouraging everyone to lead with integrity, not greed. His words hit home in a powerful way and left the audience feeling inspired, motivated, and ready to make a difference.”

James Fripp, Chief Equity, Inclusion & Belonging Officer at Yum! Brands made a big impact at this yr’s Franchise Game by offering two scholarships to the Yum! Franchising Bootcamp through the Executive Education Program on the University of Louisville! This opportunity is an actual game-changer for 2 lucky participants who will now have the prospect to delve into the world of franchising and gain invaluable knowledge to advance in their entrepreneurial journey. What a unbelievable gesture of support and empowerment from James and Yum! Brands!

This yr, there have been twice as many exhibitors, including Ben & Jerry’s, American Franchise Academy, Nebo Law Firm, Dine Brands (IHOP, Applebee’s and Fuzzy’s Taco Shop), GoTo Foods (Cinnabon, Carvel, Schlotzsky’s, Moe’s Southwest Grill, Jamba Juice, McAlister’s Deli and Auntie Anne’s), Smoothie King, Potbelly Sandwiches, KFC, European Wax Center, Inspire Brands (Dunkin’, Baskin Robbins, Arby’s, Buffalo Wild Wings, Jimmy Johns and Sonic Drive-In), EATS Broker (restaurant brokerage), ATenantCo (business real estate), Orchatect (IT infrastructure solutions) and Chick N Max.

I had the pleasure of participating in the symposium and trade fair, representing Ben & Jerry’s and reporting on the event BLACK ENTREPRENEURSHIP readers. In my role as a franchise development consultant for the brand, I shared with The Franchise Game participants details about Ben & Jerry’s industry-leading racial equity incentive program, which offers a big reduction in franchise fees and waives licensing fees for BIPOC candidates interested in ownership. “It’s definitely one of the most, if not the most aggressive incentive programs in the game,” Carter said. “We were also very grateful to partner with Ben & Jerry’s, who generously donated ten tickets for students at the University of North Texas at Frisco to participate in The Franchise Game and experience the world of franchising firsthand. It’s all about creating opportunity and access, and we’re so grateful for Ben & Jerry’s commitment to making a real difference!”

After the massive success of The Franchise Game 2024, planning is already underway for 2025. Carter said, “2024 was an absolute blast! We’ve doubled in size, with a bigger, better, and bolder program that sets the stage for something truly special. Our partnership with Yum! Brands has been phenomenal, and I’m excited to announce that we’re returning to their Plano Corporate Campus for The Franchise Game 2025 — and trust me, it’s going to be EPIC! We’re already gearing up for next year, ready to welcome more Texas entrepreneurs and give them the tools, connections, and inspiration they need to succeed as franchise owners. I can’t wait to see everyone there!”

To learn more about The Franchise Player and events, go to pl.franchiseplayer.com.


This article was originally published on : www.blackenterprise.com
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Workplace well-being declines as workers return to offices

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WORKPLACE, Bullying, return to office


As more workers are forced to return to the office and work remotely, research shows that workplace well-being is on the decline. The numbers are even lower for Black workers.

A brand new report from the Human Capital Development Lab at Johns Hopkins Carey Business School in partnership with Great Place to Work reveals that workplace well-being peaked in 2020. But the annual survey of greater than 1.5 million people at greater than 2,500 corporations measured the “climate of well-being” and found According to reports, this number has been systematically decreasing since 2020.

The decline varied by industry and a few demographics. Healthcare and retail/hospitality corporations had the bottom scores, while black, women and younger workers scored lower on well-being than white, men and older workers. Southern workers scored higher on well-being than their counterparts.

“The COVID pandemic has heightened employers’ awareness of the importance of wellness, and many top organizations have been working to create a positive work climate,” said Michelle Barton, Ph.D., assistant professor at Carey and co-author of the report. “The challenge now will be to integrate these practices into everyday work life, rather than simply as a response to the crisis.”

The researchers used five criteria to measure each company’s “climate of well-being”: financial health, meaningful connections, mental and emotional support, personal support, and a way of purpose. Employers who put money into their employees’ well-being, each financial and emotional, scored higher.

Male workers consistently reported higher workplace well-being scores than female workers, reflecting a gender pay gap that widened in 2023 for the primary time since 2020. Meanwhile, Black workers had the worst well-being between 2021 and 2023 compared with white workers, who ranked first, and Asian workers, who were the one group whose well-being matched or exceeded that of white workers over the five-year period.

Black women had the worst overall well-being compared to Asian men, who had the best well-being scores and the biggest gap compared to women.

“These significant differences underscore the continued need for organizations to address issues of equity, inclusion and belonging for all employees,” the report said.

The report found a transparent positive correlation between flexible working and improved worker well-being. Companies where 75% or more of their employees could work remotely part-time had the best well-being scores, while those where lower than 25% of employees had distant work options had the bottom scores.

“For employees, flexibility provides the means to effectively manage work-life balance while meeting personal and family needs, such as childcare and eldercare,” the report says. “For employers, it can support higher levels of employee engagement and productivity, while also fostering an atmosphere of well-being.”


This article was originally published on : www.blackenterprise.com
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