Are wealthy blacks banned from helping the black community?

[EndDomination]

ironically they became segregated from the rest of black society after "integration" happened...

They were separate long before integration.
They lived in close proximity, but socially existed in a bubble they formed just for themselves, away from poorer Blacks, and Whites.

They also were some of the first to integrate into middle class neighborhoods to escape the hyper-urbanized ghettoes most urban black lived in, established many of the schools and endowments, created black private schools and boarding schools, Black vacation spots, owned the land, and created the AA-focused charities, councils, and political groups.

 

[EndDomination]

but 135 Million in total or each year is a lot of money. Comparatively speaking...it may not be a lot of money compared to other schools, but it is a lot of money in general. It's a silly statement to say "how come no one donates to the school" when there is an endowment that currently sits at $135 million. That is a large pool of money independent of what the next school has.

It sounds like a lot, but with the school being private, and largely depending on tuition and outside grants for funding; it’s hard to give out the necessary financial aid to Black students (many of which are still high-need), especially the lowest-income grouping, which has the least access to outside money, all campus-upkeep, running the entirety of the facility including infrastructure upkeep and expansion, and to attract top-tier talent, fund research, etc.

it sounds like a lot of money, but in practice is truly isn’t that much. The boards that oversee investing also tend to be conservative and don’t like to pick too-risky investments that may yield high-returns do fear of causing the school financial issues.

 

[TL15]

It sounds like a lot, but with the school being private, and largely depending on tuition and outside grants for funding; it’s hard to give out the necessary financial aid to Black students (many of which are still high-need), especially the lowest-income grouping, which has the least access to outside money, all campus-upkeep, running the entirety of the facility including infrastructure upkeep and expansion, and to attract top-tier talent, fund research, etc.

it sounds like a lot of money, but in practice is truly isn’t that much. The boards that oversee investing also tend to be conservative and don’t like to pick too-risky investments that may yield high-returns do fear of causing the school financial issues.

you are now getting into the deeper logistics of title IV funding, investment of endowments and (unless you actually know how those investors) the behavior of investors.

This is a slippery slope conversation and has very little to do with my initial point.

Here is what OP was saying: How come no one is donating money (and he specifically mentioned Morehouse)?
My response: Morehouse has an endowment that is in the low hundred of millions of dollars. It is clear that some people actually are donating (specifically to Morehouse).

None of that has been refuted.

 

[MMA]

It looks like you just didn't have the right connections to get your financial aid done right. A lot of college kids mess up that process.

They do this, they just don't publicize it like majority of school donations or other resources. I personally use about 6-10% of my income a year into a a few program that I run with some other people + my university backing.

Who do you think a lot of black entrepreneurs are actually receiving their money or opportunity from?

You believe other folks are giving out sound information, giving black people connections?

Great job on starting the ecommerce business OP, I wish you much success my brother
You can begin helping now OP, start giving out free lessons to other people.

I've tried to friends and family let's go into business together but found it's not in every DNA to do these things.
What you should focus on is how to build wealth for the black community and employment.
You should also start many of these businesses of your own and find qualified Black managers to run it for you
Once you have created enough for yourself, you will have the disposable income to offer people to run their own businesses with an investment capital

 

[MMA]

People give all the time, believe it or not.

That question is very interesting, though.

I think many of our people have a very outdated, self-defeatist view of economic oppression.

Look at racism as a game like Super Mario Brothers. On the lowest levels, is it easier to advance to the next stage. The level of skill needed to succeed is low. The higher you go up, the more difficult it becomes to succeed. To 'beat the game', while doable, requires an exceptional individual.

I'd suggest to any black person who doubts black upward mobility to go spend some time in the DC Metro. Yeah, yeah ... ATL got it too, but DC is a step or two up, in my opinion. Doesn't mean racism isn't there, but you will certainly see that the ability to improve your lot in life is not that uncommon if you're black.

What? The poorer you are or the lower level you are in life, the harder it will be to level up. I'm confused by this analogy.
If you mean people view it in that form of contexts I'll agree on that.

 

[CreepyMcCreeperson]

There are a lot of black people helping, but they don't make it public, or announce it.

 

[invalid]

But how come no other wealthy blacks have thought of this?

Reginald F. Lewis, the first black billionaire, gifted Howard University, a school that he didn't even attend, with $1 million dollars. Look where Howard is now.

The issue has been the perception that many black institutions suffer from mis-management. Also, many black institutions are just not as financially savvy with their endowments. I work in the finance industry and see numerous colleges and universities having their endowments actively managed in Hedge Funds and other financial vehicles that yield high returns. Many black institutions endowments are being passively managed which yields very conservative returns.

Also, like you, I would have thought that an endowment of $135 million was low for a school like Morehouse. However, Hamden-Sydney College, which is the "white" Morehouse equivalent, is about $158 million, so Morehouse isn't doing bad at all, although they have twice the enrollment.

Most wealthy people aren't in the charity business. That's not how you get wealthy.

And because its so much harder for a black person to come up I think self made black people understand that more then anyone. fukk a handout. Go get it yourself.

You have no idea what you are talking about.

 

[Y2Dre]

Morehouse is full of fakkits OP you didn’t miss anything.


As far as wealthy Blacks helping the community, MOST wealthy Blacks are not independently wealthy.

Meaning they got bread, but a cac is signing their checks.

It’s understood that once you got that multi million dollar bag you better be on your

There can literally be no other reason behind why these people don’t help the community.

They scared, and don’t wanna fukk up their bread.

 

[thekingsmen]

ironically they became segregated from the rest of black society after "integration" happened...

This...

 

[datnigDASTARDLY]

There are a lot of black people helping, but they don't make it public, or announce it.

Id also imagine most black folk that can, are rich but not wealthy.

The rule of 42 applies here. You got brehs that rich for the moment all the time, but those brehs also have family and other obligations.

So you have to invest and make the right moves to build their rich asset...and let's be honest, it's usually a talent and not business related...so it's already depreciating.

Once you solve that then you can be a bill gates or Oprah just throwing money out to help everyone else on a platform for the world to see.

 

[invalid]

Morehouse is full of fakkits OP you didn’t miss anything.

fakkits or not, Morehouse is still the best place in this country for black men to be educated. What's more telling is that "fakkits" are the ones that are taking advantage of that education.

 

[EndDomination]

Unfortunately, there are still far less wealthy Blacks, proportionately, than wealthy members of other racial and ethnic groups in the US.
With more need, and less to pull from, it will always look like there is less being done than there actually is.
Which sucks.
There'd need to be a socialist governance of Black wealth (or a massive government support) to visible change the wealth gap and issues within the Black community in a relatively short period of time. So even with wealthy hands on deck, its still not enough.

 

[EndDomination]

Reginald F. Lewis, the first black billionaire, gifted Howard University, a school that he didn't even attend, with $1 million dollars. Look where Howard is now.

The issue has been the perception that many black institutions suffer from mis-management. Also, many black institutions are just not as financially savvy with their endowments. I work in the finance industry and see numerous colleges and universities having their endowments actively managed in Hedge Funds and other financial vehicles that yield high returns. Many black institutions endowments are being passively managed which yields very conservative returns.

Also, like you, I would have thought that an endowment of $135 million was low for a school like Morehouse. However, Hamden-Sydney College, which is the "white" Morehouse equivalent, is about $158 million, so Morehouse isn't doing bad at all, although they have twice the enrollment.



You have no idea what you are talking about.

This. The other thing, that I can't stress enough, is that in the realm of education, $1M donation is a massive amount for laypeople, but is almost a drop in the bucket with higher ed.
An older White couple just gave $25Ms for the second time to my undergraduate institution (PWI), and while my school celebrated it, something like that happens every few years.
HBCUs simply aren't getting it like that. Robert F. Smith gave $50Ms to his college, unfortunately, it was to Cornell and not an HBCU.
The Most Generous Alumni Donors to American Colleges & Universities | The Best Schools
Schools with top endowments are getting donations of $100Ms to $400Ms every decade, while a lot of HBCUs, especially publics, are barely holding on with endowments under $10Ms.

Morehouse is full of fakkits OP you didn’t miss anything.


As far as wealthy Blacks helping the community, MOST wealthy Blacks are not independently wealthy.

Meaning they got bread, but a cac is signing their checks.

It’s understood that once you got that multi million dollar bag you better be on your

There can literally be no other reason behind why these people don’t help the community.

They scared, and don’t wanna fukk up their bread.

Depends on what you're referring to as "wealthy," because at a certain point, there aren't "paychecks" being paid.
Black CEOs, HF/PE managers and top ranks, surgeons, doctors, and directors, NE and Equity Partners of law firms, tech form owners, etc. are all independent, and there are quite a few of them.
And schools in general have gay men, doesn't really stop the experience of going to a premier HBCU with massive connections and a deep culture

 

[invalid]

This. The other thing, that I can't stress enough, is that in the realm of education, $1M donation is a massive amount for laypeople, but is almost a drop in the bucket with higher ed.
An older White couple just gave $25Ms for the second time to my undergraduate institution (PWI), and while my school celebrated it, something like that happens every few years.
HBCUs simply aren't getting it like that. Robert F. Smith gave $50Ms to his college, unfortunately, it was to Cornell and not an HBCU.
The Most Generous Alumni Donors to American Colleges & Universities | The Best Schools
Schools with top endowments are getting donations of $100Ms to $400Ms every decade, while a lot of HBCUs, especially publics, are barely holding on with endowments under $10Ms.

This is true. Harvard just received a single gift of $400 million which is about the entire endowment of Howard.

At the time when Reggie gave that gift, $1 million was a large sum. He gave Harvard a gift of $3 million which was the largest gift received by the school at that time.

Back in 2005, Howard received a gift of about $70 million but to your point, no, we just don't have the money to be making those types of contributions.

We can hope that when an Oprah or Robert F. Johnson pass along, that they bequest one of these schools with half a billion or something.

 

[3rdWorld]

They usually didnt inherit the wealth, they earned it. So for many of them they want to avoid seeing reflections of their past struggles with near poverty. So they tend to avoid running into regular and poor Blacks. Its a reminder of where they came from. Jordan is someone like that.