Weekly Report 3-20

Verizon, Houston Fund for Social Justice and Economic Equity Fuel

By d-mars.com News Provider

TSU welcomed Verizon and the Hous ton Fund for Social Justice and Eco nomic Equity (The Fund) on campus recently to announce a $300,000 grant that will support transformative learning for TSU students and the community.

Houston Mayor Sylvester Turner, along with Rose Stucky Kirk, President of the Verizon Foundation, and Thomas Jones, Board President of the Houston Fund, joined TSU President Dr. Lesia Crumpton-Young, as well as TSU Regent Stephanie NellonsPaige, for the ceremony.

The grant involves a two-pronged col laboration between non-profits that are served by the Fund and TSU, which will utilize the funding to provide new programming for entrepreneurship and financial literacy, especially in communities of color and diverseowned small businesses within the community.

"Today is an example of what true partnerships can mean on a college campus," said Dr. Crumpton-Young. "We are going to serve the underserved as they have never been served, and this part nership will allow us to do this."

Faith, Family & Finances

By James Marshall Contributing Writer

One you choose, one you are born into, and the other you earn (well most of us have to earn it).

First is faith.

Faith is the assurance that the things revealed and promised in the Word are true, even though unseen, and gives the believer a conviction that he expects in faith, will come to pass. In other words: “Now faith is the substance of things hoped for, the evidence of things not seen.” - Hebrews 11:1

Throughout your wealth-building journey, you will come across obstacles that seem insurmountable; barriers that appear to be too high to climb.

For example:

• Job loss

• Loan denials

• Unexpected bills

• Health problems

• Accidents

These barriers will come when you are tired and discouraged and when your level of discouragement is high and your will is low. You may begin to look at

what others have or appear to have and wonder:

• What is wrong with me?

• Why can’t I get out of debt? Why can’t I build up savings? When will I stop living paycheck to paycheck?

The Brookings Institute’s Hamilton Project found in their 2019 Survey of Consumer Finances that the wealth gap between Black and white households is staggering. Their research reveals that the median household net worth for Black families is $24,100 versus $188,200 for white households.

To me, this is as the saying goes, “same story, different day.”

I can understand how this type of report and all the media discussion about it can be overwhelming. And it is during this period of uncertainty that you can fall victim to schemes, cons, and empty promises. Well, at this time, I suggest you just stand still for a minute and evaluate your situation.

What is really happening? What is the real problem that is hindering your progress at this moment? Some questions to ask:

• Is it unemployment or under-employment?

Is it cash flow management? Are you spending more than you are making?

• Is your lack of savings leading to your increasing debt?

“You don’t have enough faith,” Jesus told them. “I tell you the truth, if you had faith even as small as a mustard seed,

Crumpton-Young referenced the excitement and interest of TSU students for entrepreneurial activities and resources that will help them launch their own

"It will be a university initiative, but it will be focused on enhancing the community. This gift, this partnership, will help us to ensure that small businesses in our community will be successful."

Gerald Smith, Chairman Emeritus of the TSU Foundation, as well as a TSU graduate and successful business entrepreneur, seconded President Crumpton-Young's statement. He believes that TSU's Jesse H. Jones School of Business, which includes the Gerald E. Smith Center for Entrepreneurship, will be a conduit for nurturing small business development.

"I want to thank Verizon for supporting this cause, and we look forward to making a difference in our communities (with this funding)."

Mayor Turner initiated the Fund in 2021 with the goal of raising $25 million to invest resources into nonprofits and small businesses that uplift and empower the Black community.

Source: Texas Southern University

you could say to this mountain, ‘Move from here to there,’ and it would move. Nothing would be impossible.”

Matthew 17:20

Second is family.

No man is an island. And no one gets there alone. The phrase, “It takes a village,” is certainly overused and underutilized. Just remember that at the center of that village is a single-family, traditional, or modern. And building sustainable, generational wealth should involve the entire family.

The leaders of the family are responsible for establishing the process, as well as developing and educating family members to take on various roles in managing and growing the family’s wealth. That means retaining professionals such as a financial advisor, CPA, attorney, and even a therapist.

Every member has a role in the process of building family wealth:

Contributing

• Managing

• Protecting

• Transferring

Every family member needs to see the big picture and take ownership of the long-term wealth goals of the family.

Establishing a private family bank owned by a family trust makes it perpetual. Funding it with monthly contributions from family members and life insurance proceeds makes it viable.

But if there is no emotional commitment, structure, documentation, or comprehensive financial plan, the efforts will be in vain.

And finally, there is finance. No matter how hard it has been in the past or how bleak it looks now, just know that every problem has a solution. And the solution is based on commitment, cooperation, organization, and action. Here are some tips:

• Establish the family’s vision of wealth

• Assess the family’s combined income and expenses

• Identify what accounts or funds can be transferred from individual accounts to the family bank, and this should not cause financial hardship to the individuals.

• Setup the family trust and place the ownership of all savings, investments, and insurance policies in the name of the trust.

• Layout the family foundation’s structure such as executive director, secretary, treasurer, committee members, etc.

• Committees should meet at least quarterly, and the whole family should meet annually.

So remember, a journey of a thousand miles begins with one step. Start on your journey of wealth today.

James Marshall is a registered investment advisor registered in Texas and Kentucky. He can be reached at James@Marshallyourmoney.com. Visit him on the web at Marshallyourmoney.com.

Houston based entrepreneur gifts $110K to Harris County GEORGE FLOYD STATUE

By d-mars.com News Provider

Dannette Davis of Kay Davis Associates has donated a $110,000 statue of the late George Floyd to Harris County. The entrepreneur and philanthropist commissioned the piece, which is titled “A Conversation with George” by renowned sculptress Adrienne Rison-Isom.

Q&A With Dannette Davis:

D-MARS: Does this gesture confirm for you that the injustice committed against George is still at the forefront of our minds and that we should stay in the fight against injustice?

DD: Anytime you memorialize someone it’s because you don’t want people to forget. What happened to George was a human tragedy— so yes, we want to keep it at the forefront of everyone’s mind. I wanted to memorialize him so that he will always be a symbol of change, and a symbol for higherlevel thinking. It’s crucial that people don’t forget so that history doesn’t repeat itself.

D-MARS: How have you seen this injustice enhance police accountability?

DD: How have you seen the community respond since this incident? I think that there is more consciousness surrounding how we respond when we see injustice. People are more apt to record and get involved than they were before and we have even seen officers hold their counterparts accountable by reporting bad behavior in the field.

D-MARS: During Derek Chauvin’s trial, we were on fire, coming together in a way this world has never seen speaking out against this injustice. But talk about how we can’t let the fire die and get comfortable.

DD: We must continue to keep the movement going by creating murals and memorials like our unveiling of the “Conversation With George” statue at Tom Bass Park and we continue to have legislation. The fact that the officers were convicted lets us know that the American system and the legislative process can work,

but we just have to stay vigilant.

D-MARS: How should this statue created by Adrienne Rison-Isom

encourage us to use our own particular gifts and talents to make a difference and raise awareness of social injustices? DD: We all have special talents that we can use for the greater good. If you’re an attorney, it’s the cases that you fight for; if you’re a politician, it’s the bills that you pass; if you’re in the classroom, you fight to teach the truth; and if you’re a filmmaker, you get the story to the masses and make it relevant. Whatever you do, use it for the greater good and for the betterment of our community.

D-MARS: Is there anything else you want our readers to know?

DD: Although Kay Davis Associates is my company, I created the Kay Davis In The Community Foundation to give back to the underserved. We are always looking for partners and local projects to connect with and support. There are opportunities available for those partners who want to work directly with us and opportunities for partners who want to help us serve others.

The unveiling is scheduled for May 25, 2022, at Tom Bass Park. For more information, please email Alex Green at info@agmediaagency.com.

Dannette Davis with Commissioner Rodney Ellis.

Dannette Davis of Kay Davis Associates.

Photo Source AG Media Agency: Mockup of the statue of the late George Floyd that will be unveiled in May.

Q&A With Dannette Davis: