That’s amazing. I just learned dutchtown was a majority black HS a few years ago. Always assumed it was white because of its location & the houses around it but that’s me being a dumb ass and forgetting a lot of black folks in metro Atlanta are doing well.
These are exactly the type of kids HBCUs should be after. They aren’t hurting for money but being at a black college will only increase their self pride and pride for their race. They graduate, go back to where they grew up and instill that pride in other well to do black kids.
That’s amazing. I just learned dutchtown was a majority black HS a few years ago. Always assumed it was white because of its location & the houses around it but that’s me being a dumb ass and forgetting a lot of black folks in metro Atlanta are doing well.
These are exactly the type of kids HBCUs should be after. They aren’t hurting for money but being at a black college will only increase their self pride and pride for their race. They graduate, go back to where they grew up and instill that pride in other well to do black kids.
The president of the Society for Financial Education and Professional Development, Inc., says teaching Black students financial literacy is the answer to closing the racial wealth gap.
SheaMoisture Releases Black Community Impact Report, Partners With Angela Yee
November 08,2022
NEW YORK--(BUSINESS WIRE)-- Monday, SheaMoisture publishes its first-ever report outlining its impact on the Black community and the company’s mission of creating generational wealth to help close the over $11 trillion racial wealth gap*.
Powered by the belief that the answer to help bridge this gap is fostering entrepreneurship and cultivating the power and potential of small business, SheaMoisture is proud to release its impact report. It is prouder still of its purpose-driven business model created to directly support the community: a portion of net sales of its beauty products fund economic opportunities for underserved Black entrepreneurs and business owners. In this way, customers themselves participate in a process that reinvests back into their community.
To date, $10 million has been invested through grants, entrepreneurial education programs, partnerships, and donations. A few highlights from the report include:
• The recent launch of the Next Black Millionaire Fund, providing businesses with $100,000 in funding and business development support; the inaugural cohort was announced this year and featured three recipients
• Investment in 250 under-resourced small businesses
• Over $1 million in COVID relief provided for disproportionately impacted businesses and communities, with another $1 million pledged for community resilience
• 50,000 hours of entrepreneurial education provided to Black business owners
This work began over 30 years ago under the brand’s founder and former CEO Richelieu Dennis, when he established Sundial Brands with his philosophy of business as a source for good. In 2017, he entered into an acquisition deal with Unilever, a deal which included the creation of the New Voices Fund, a venture capital fund that invests in entrepreneurs of color. Together with the Dennis Family, the New Voices Fund has invested over $100 million in portfolio companies.
The report highlights this and other significant impact the brand has made since 2020 under the current leadership of Cara Sabin, CEO of Sundial Brands (maker of SheaMoisture) and CEO Beauty & Wellbeing at Unilever North America.
“We’re incredibly proud of what we’ve accomplished and are humbled by the impact we’re able to create within our communities,” says Sabin. “This report illustrates the work that’s happened, but more importantly it points to the work that still needs to be done. We hope to inspire others to join us to accelerate the wealth cycle for Black generations to come.” In tandem with the report and to celebrate 30 years of investing in Black entrepreneurship, SheaMoisture has partnered with Radio Personality and Entrepreneur Angela Yee to announce its first Community Impact Grant for small business entrepreneurs. As an entrepreneur and philanthropist herself, Yee is committed to providing opportunity, resources, and mentorship to those who need it most.
“As a community, we need to lean into our village to build Black wealth,” says Yee. “SheaMoisture has been doing this work from day one and has always put their purpose first. As an entrepreneur myself, I know how important their work is, and am excited to team up with them and help other entrepreneurs who are trying to build their own hustle.”
The grant is open to Black small business owners who work to address needs in their community. Those interested can apply or be nominated for a chance to be awarded a $10,000 grant. Two winners will each receive the grant. Criteria and applications are available starting today until November 27, 2022 at SheaMoisture.com/Impact.
$50,000 Scholarship Gift To Paul Quinn College Announced
November 09,2022
The MARCH Foundation, a private non-operating foundation, has announced a gift of $50,000 to provide scholarships for deserving students at Paul Quinn College, the nation’s only Urban Work College and Texas’ first HBCU, located in Southern Dallas.
MARCH, which stands for Mutual Alliance Restoring Community Hope, was launched to support the education of African American youth. Kenneth B. Jarvis, a longtime community business and civic leader, founded the group 25 years ago.
With its gift to Paul Quinn, MARCH honors its 25th Anniversary, and demonstrates its commitment to HBCUs and the growing number of students who need help with skyrocketing tuition.
“The MARCH Foundation is committed to investing in the education of Black youth,” Jarvis said, “and we believe that every act of philanthropy – even a small one – meets the needs of deserving students, many of whom are first-generation students who otherwise cannot afford tuition.”
Paul Quinn President Dr. Michael J. Sorrell added, “We are grateful to the MARCH Foundation for their generosity in supporting our students. This gift not only provides a monetary donation which alleviates a cost burden to our students, The MARCH Foundation has committed to fostering relationships with our students so they can see what is possible.”
Monifa Peterson is on her way to earning a law degree at the University of the West Indies (UWI), thanks to a gift from dancehall superstar Shenseea who earlier this year announced plans to provide fi...
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