Category Archives: Lifestyle

African American To Africa: Howard University’s Volleyball Team Reminds Us Why Our Diasporic Relationship Is Critical

Posted on February 25, 2025 by hbcumoney | 1 comment

“I am not African because I was born in Africa but because Africa was born in me.” – Kwame Nkrumah

Sometimes even HBCUs forget that they are part of a global building of the African Diaspora’s building of social, economic, and political interests. The building of that interests strengthened the more African Diaspora institutions connect our ecosystem together and circulate our SEP capital among each other. Too often we get hung up on America desires and forget African responsibilities. As is often the case, the women of the tribe bring give us a gentle reminder as to where our focus needs to be.

Enter, Howard University’s Volleyball team and their voyage across Africa. If you have not heard the story by now, the team had an opportunity to go abroad and voted on where they should go. The team it was said overwhelmingly voted to head to the Motherland – Botswana and Zimbabwe, specifically. It would take the team and supporters raising $60,000 to fund the trip for 16 players and 4 coaches. For many PWIs, this would be simply a matter of picking up the phone and calling any handful of boosters to fund the trip, but at HBCUs we know things work a bit different. However, we also know when we put our mind to something, there is often very little that can stop us and the HBCU community was in full support of such a journey. Needless to say, many HBCU shareholders felt invested in making such a trip happen for a number of reasons.

While there they would participate in tournaments against teams from each of the aforementioned countries. It was an athletic immersion, cultural immersion, and as any African American can attest to their first time in Africa – a spiritual immersion. Historically Black Colleges and Universities (HBCUs) play a crucial role in the education and empowerment of African American students. Strengthening relationships with Africa is not only beneficial for HBCUs but also fosters mutual growth, cultural exchange, and academic collaboration. Here are several key reasons why these relationships are important:

Here are seven reasons why it is vital for of HBCUs to build relationships with Africa:

1. Cultural Exchange and Understanding

Building connections with African institutions allows HBCUs to engage in cultural exchanges that enrich the educational experience for students and faculty alike. Exposure to African cultures, languages, and histories enhances the curriculum and fosters a deeper understanding of the shared heritage between African Americans and their African counterparts. This cultural immersion can lead to a greater appreciation for diversity within the African diaspora.

2. Academic Collaboration and Research Opportunities

Partnerships with African universities can facilitate collaborative research initiatives addressing global challenges, such as public health, environmental sustainability, and social justice. Joint programs and projects allow HBCU faculty and students to contribute to meaningful solutions while benefiting from shared knowledge and resources. This collaboration can enhance the academic reputation of HBCUs and provide valuable research opportunities for students.

3. Enhancing Global Competence

In an increasingly interconnected world, fostering relationships with African institutions helps HBCU students develop global competencies. Understanding the political, economic, and social dynamics of African nations equips students with the skills needed to navigate and contribute to a global society. This experience is invaluable in preparing them for careers in international relations, global business, and public policy.

4. Economic Development and Entrepreneurship

Collaborative efforts between HBCUs and African institutions can promote entrepreneurship and economic development in both regions. Initiatives such as exchange programs, business incubators, and investment partnerships can create pathways for HBCU graduates to engage with African markets. This can stimulate job creation and economic growth, benefiting both communities.

5. Strengthening the African Diaspora

HBCUs can play a pivotal role in strengthening the ties within the African diaspora. By building relationships with Africa, they can contribute to a more unified understanding of shared struggles and successes. This connection fosters solidarity among people of African descent, promoting collective action on issues such as social justice, education, and economic empowerment.

6. Creating Opportunities for Students

Establishing partnerships with African universities opens doors for HBCU students to participate in study abroad programs, internships, and service learning opportunities. These experiences not only enhance their education but also allow them to build networks and gain firsthand insights into different cultural and social contexts.

7. Promoting Research on African Issues

HBCUs can leverage their unique perspectives to conduct research that addresses challenges faced by African nations. By focusing on topics such as health disparities, education, and development, HBCUs can contribute valuable insights and innovative solutions that benefit both African communities and the global academic community.

The relationships between HBCUs and Africa are crucial for promoting cultural exchange, academic collaboration, and economic development. By fostering these connections, HBCUs can enhance their educational offerings, prepare students for a globalized world, and strengthen the ties within the African diaspora. Ultimately, these relationships can lead to mutual growth and a deeper understanding of the rich tapestry of African and African American histories and cultures. By nurturing this connection, African Americans can strengthen their identities, honor their histories, and collaborate with others in the diaspora to address shared challenges. This relationship ultimately enriches the African American experience and contributes to a more unified and empowered global community of people of African descent.

Disclosure: This article was assisted by ChatGPT.

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Posted in Lifestyle

Tagged africa, black women, botswana, HBCU, Howard University, howard university volleyball, pan-african, study abroad, women's volleyball, zimbabwe

What Is To Become Of African American Baby Boomers’ $188 Billion In Wealth?

Posted on January 21, 2025 by hbcumoney | Leave a comment

“Everything that I’ve gone through informs me and my opinions in a way, I guess because I am a child of segregation. I lived through it. I lived in it. I was of it.” – Samuel L. Jackson

One thing most financially literate people realize is that it is not how much you make, but it is how much you keep. Those who are of a wealth building mindset realize it is not how much you keep, but how much of your capital is actually working to make you wealthier without your labor being attached to it. African American individuals, households, and institutions struggle in both cases, but mightily in the latter. Most African American wealth, as highlighted by the amount of time the African American dollar remains in our community (less than 6 hours), does little to no work for the wealth building of those three entities. A major reason for this is that African American individuals, households, and yes, even institutions put little to none of their money in African American institutions – ironically.

Economic Disparities

“According to a report by the Federal Reserve, the median net worth of African American households headed by someone aged 55-64 (who would generally be considered Baby Boomers) was around $39,000 in 2019. This is substantially lower than the median net worth of European American households in the same age group, which was around $184,000 in 2019. It’s important to note that there is significant variation within both groups, and wealth is influenced by a range of factors including income, education, and access to resources.”

Insider Intelligence gives a generational demographic breakdown reporting that, “Baby boomers were the largest living adult population until 2019. According to the US Census Bureau, US boomers have remained the second-largest population group in 2022, comprised of 69.6 million people ages 58 to 76.” And Statista reports that there are 43.26 million Boomer households meaning that approximately 4.8 million of those are African American. This then puts African American Baby Boomer wealth at approximately $187.2 billion – but what of it?

Each eldest generation will push wealth forward one way or another. Where it flows though can be largely up to the person. Some will push it to the next generation of family and friends, charities and organizations, and there are a host of other options of where money can find itself as one begins to consider their legacy both in the here and now or from the beyond. One things is crystal clear though from a Brookings Institute study, African Americans are falling behind with every passing generation, “30% of European American households received an inheritance in 2019 at an average level of $195,500 compared to 10% of African American households at an average level of $100,000.” African Americans both receive 50 percent less than their European American counterpart and European Americans are three times more likely to get an inheritance than their African American counterpart – but again what of it?

While the wealth of even African American Baby Boomers is not that of their counterparts, it should have the opportunity to make far more considerable impact than it probably actually will. As African American baby boomers age, a significant transfer of wealth is expected to occur. This presents an opportunity for younger generations to invest in education, home ownership, and entrepreneurial ventures. However, research indicates that many African American families face systemic barriers, such as lower access to financial resources and education, which could impact how this wealth is utilized and preserved.

Despite the considerable wealth held by baby boomers, economic disparities persist within the African American community and its institutions. Issues such as income inequality, lack of business ownership, access to African American owned financial institutions, limited access to financial literacy resources, and a disconnected institutional ecosystem can hinder the effective management and growth of inherited wealth. Addressing these disparities will be crucial in ensuring that future generations can leverage this wealth for long-term benefits.

Philanthropy and Community Investment

Many African American baby boomers are inclined to support causes that uplift their communities. This philanthropic inclination could lead to increased investment in African American nonprofits, education initiatives, and other community organizations. By directing funds towards institutional development, these donors can help address systemic issues and create lasting change.

Financial Planning and Literacy

The management of this wealth will largely depend on the financial literacy of both the current baby boomer generation and their heirs. Increasing access to financial education, resources, and African American owned financial institutions is essential to ensure that wealth is not only preserved but also strategically invested. Programs aimed at enhancing financial connectivity between African American households and African American financial institutions within the African American community can play a significant role in maximizing the impact of this wealth.

The fate of the $188 billion in wealth held by African American baby boomers is not just about the transfer of assets; it’s about how those assets can be utilized to build a stronger future for the community. By focusing on education, philanthropy, and addressing systemic barriers, there is potential for this wealth to make a profound impact on the lives of future generations. Ensuring that this wealth is effectively managed and directed towards meaningful causes will be crucial in shaping a more equitable and prosperous future for the African American community. In the end, the only real question is how much of the $188 billion will end up in African American institutions. Whether those organizations be African American social, economic, or political institutions is up to the household, but this is the most acute potential for institutional transformation that African America will have seen since 1865.

Disclosure: This article was assisted by NOVA AI and ChatGPT.

Love It Or Hate It: African American Education Needs More Private Schools

Posted on January 14, 2025 by hbcumoney | Leave a comment

If you want a good education, go to private schools. If you can’t afford it, tough luck. You can go to the public school. – Paul LePage

The education landscape for African American students has long been marked by systemic challenges, including underfunded public schools and limited access to quality resources. As parents, educators, and community leaders seek solutions to these persistent issues, the establishment of more private schools specifically serving African American communities emerges as a potential avenue for improving educational outcomes. These institutions can provide tailored educational experiences that meet the unique needs of African American students, while also creating a stronger pipeline to historically Black colleges and universities (HBCUs).

If European Americans wanted to have quality public education for ALL Americans by now, we would have it. They do not and we can not afford to wait in hopes of appealing to a moral consciousness for it to happen. We must also accept that even it were to happen, the curriculum still would leave us out of the shaping and decision making process as it always has. Then we are surprised when our kids go through K-12 and know little to nothing about the contributions of African Americans and the African Diaspora upon finishing. There was slavery and then Martin Luther King, Jr. as it pertains to the “history” of African Americans in the United States in the current school systems for which we are dependent upon to educate our community and if some textbooks have their way slavery will soon be erased from the literature. In the intellectual arms race happening both here in the United States and throughout the world, African American education is sinking faster than the Titanic (it took approximately five minutes). The demarcation line has been crossed (long ago some would argue – desegregation) and it is time to take the offensive. African American private schools allow for African America to create its own de facto school systems where it controls the culture, curriculum, teacher quality, finances, and all of the subtleties that go into the education of our children from Early Childhood/Pre-K through 12th Grade.

In the United States, there are currently 30,492 private schools employing 529,574 teachers and educating almost 4.7 million students according to recent data by the NCES. On the public school side, there are 98,469 institutions employing 3.2 million teachers and educating 48.1 million students. For African Americans, they comprise 15 percent (7.22 million African American students) of the public school enrollment and 6 percent (423,000 African American students) of the private school enrollment. That is a national average of 18 teachers and 154 students for a ratio of 8 students per 1 teacher per private institution versus an average 33 teachers and 489 students for a ratio of 15 students per 1 teacher per public institution. Despite this reality, African American participation is second lowest among all groups just ahead of Hispanics, 50 percent behind European Americans, and 40 percent behind Asian Americans in private school participation. Private education for Asian Americans comprises almost 15 percent of their public/private student population, while private education only comprises 6 percent of the African American public/private population.

Addressing Systemic Inequities

Public schools in predominantly African American neighborhoods often face significant funding disparities, resulting in overcrowded classrooms, outdated materials, and limited extracurricular opportunities. Private schools can offer smaller class sizes, individualized attention, and enhanced resources such as more experienced teachers, state of the art technology and facilities just to name a few. By creating more private educational options, families can access environments that better meet their children’s academic and emotional needs.

Emphasis on Cultural Relevance

Private schools that cater to African American students can incorporate culturally relevant curricula that celebrate heritage and address the unique experiences of these students. Such an approach can foster a sense of belonging and identity, helping students thrive academically and socially. By emphasizing African American history, literature, and contributions, these schools can instill cultural pride and motivation in their students.

Diverse Educational Models

The expansion of private schools can introduce diverse educational models, including Montessori, Waldorf, and project-based learning, which may better suit the learning styles of African American students. These alternatives can provide innovative teaching methods that engage students more effectively than traditional approaches.

Strengthening the Pipeline to HBCUs

A significant benefit of increased private school options is the potential to strengthen the pipeline to HBCUs. Private schools can establish partnerships with HBCUs, offering students mentorship programs, college preparatory courses, and exposure to campus life.

Early College Programs: Private schools can implement early college initiatives that allow high school students to earn college credits while still in high school. This can ease the transition to higher education and increase the likelihood of enrollment in HBCUs.
College Counseling: Enhanced college counseling services can guide students through the application process, focusing on HBCUs and highlighting the unique opportunities these institutions offer, including supportive environments and rich cultural experiences.
Scholarship Opportunities: Private schools can work with HBCUs to create scholarship programs specifically for their graduates, ensuring financial support for students who choose to continue their education at these institutions.

Parental Choice and Empowerment

More private schools can empower parents by offering them choices in their children’s education. Many African American families seek options beyond their local public schools, and increased access to African American private institutions can enable parents to select environments that align with their educational philosophies and cultural values.

Community Investment and Leadership

Establishing private schools within African American communities can encourage local investment and leadership. The New England 8, a set of premier boarding schools in the New England region, control over $8 billion in net assets alone. There is no reason to believe that African American boarding and private schools could not emerge to enhance African American institutional asset control through their own endowments and have an acute impact on African American towns and communities. Community members can take active roles in governance and decision-making, ensuring that schools reflect the needs and aspirations of the families they serve. This involvement can strengthen community ties and promote a sense of ownership in the educational process.

While private schools are not a panacea for the challenges facing African American education, increasing their availability can provide valuable alternatives for families seeking quality educational options. By addressing systemic inequities, offering culturally relevant curricula, and empowering communities, more private schools could play a crucial role in fostering academic success, personal growth for African American students, and ultimately provides more African American institutional ownership.

How many African American private schools are there? According to Black Minds Matter’s Black-Owned Schools Directory there are approximately 140 African American private schools.

Disclosure: This article was assisted with by ChatGPT.

HBCU Money™ Histronomics: New Mexico’s 1st African American Town Was Founded By An HBCU Couple In 1903

Posted on August 24, 2024 by hbcumoney | 2 comments

“Up, you mighty race, accomplish what you will.” – Marcus Garvey

“Frank attended Morehouse College and Fisk University. While in school he learned about homesteading and its requirements. While working as a teacher in Georgia, he married Ella Louise McGruder. Ella was also a well-educated teacher, a graduate from the Haines Institute.

After he was threatened by the Ku Klux Klan, Frank’s father encouraged him to move West. Frank’s father was a Buffalo Soldier during the Mexican-American War. As a child he heard stories about New Mexico from his father. Boyer and two of his students traveled to New Mexico Territory in 1896. He arrived in the Pecos River Valley in 1898 near the community of Roswell, where he worked in the courts. In 1901 Ella and their four children joined him in New Mexico.” – National Park Service

New Mexico jointed the United States as the 47th state in the United States on January 6, 1912. It is currently home to approximately 2.1 million people with almost 40,000 African Americans across the state’s population. In 1999, the state established the Office of African American Affairs that has been tasked with assisting the interests of the state’s African American population. Blackdom’s legacy is still profound among the residents of the state and still signifies the power of building institutions and community that look to empower people of African descent. New Mexico PBS in 2010 produced a documentary detailing the story of a time not so long ago and the impact it still carries today. The story of how an HBCU couple changed the landscape of the Southwest forever and added to the rich history of African Americans place throughout.

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Posted in Histronomics

Tagged african american towns, black towns, blackdom, ella boyer, fisk university, frank boyer, haines institute, lucy craft laney, marcus garvey, morehouse college, new mexico, office of african american affairs, pan-africanism, thomas j. calloway, w.e.b. dubois

Stanford-born Marriage Pact: Can HBCUs Copy & Paste This To Increase African American Marriage?

Posted on May 5, 2024 by hbcumoney | Leave a comment

“Black love is a radical act.” – Audre Lorde

A few years ago, HBCU Money did a report highlighting which HBCU states had the highest African American marriage rates. In the piece, HBCU LOVE: Top Ten HBCU States With Highest African American Marriage Rate, Virginia led with 34 percent African American marriage rate. The national average African American marriage rate is 29.7 percent which seven HBCU states exceeded. It is no small leap to say that HBCUs play a vital role in these high marriage rates given their role in helping African Americans have a space dedicated to themselves and cultural pride that feeds into a desire for an African American partner. Not something as likely for African Americans who attend PWIs where so few options are available that it may make it quite difficult to match with or find an African American partner among so few options. It also is significant that HBCUs provide for the bulk of African American professionals in all fields and leading to cultural pride, economic stability, and alignment of values while learning to appreciate the diversity of African America which ultimately play a major role in leading to African American marriage.

Unfortunately, African American marriage rates are still struggling. Finding marriage or a life partner is culturally challenged where young women are stressed to focus on their books and young men are stressed to focus on the plethora of young women where on many HBCU campuses the women to men ratio is considerably unbalanced. This is a result of a myriad of social factors not least among them high school graduation rates among African American boys continues to struggle and those who do graduate have far too few who are actually college ready even if they are accepted. It also does not help that so many young women and men are coming from single parent households, the Office of Juvenile Justice and Delinquency Prevention reports only “four in ten Black children” live with two parents. This means that the majority of women and men on HBCU campuses know marriage only through a theoretical lens and to say little of what has shaped their views on marriage, partnership, and the institution that is African American (healthy) love. For African America that desperately needs more marriage for a myriad of reasons and HBCUs being one of the most optimal African American spaces (for those HBCUs who still care to be such) the question is how can that seedling be grown into a full blown redwood. Enter “The HBCU Marriage Pact”, a blend of HBCU pride, computer science blended together and you end up with HBCU Computer Love – “To share in my computer world, I no longer need a strategy, thanks to modern technology”. Copy and pasted from Stanford University’s Marriage Pact.

Leanne Italie of the Associated Press writes, “The Marriage Pact, an annual matching ritual that has become popular on nearly 90 college campuses around the U.S., has turned that dusty cliche into fun. And a few couples have found lasting love. Nearly half a million students have participated since the pact first rolled out at Stanford University in 2017. Born of an economics project by two students there, the pact involves an algorithm that rates matches based on such statements as “I prefer politically incorrect humor” and “I pride myself on telling hard truths.” Unlike dating apps and services, each student gets just one name, a percentage on the quality of the match and an email address to reach out.” Liam McGregor, creator of Stanford’s Marriage Pact, explained to Ms. Italie that, “Rather than dwell on physical beauty and personal stats like height and hair color, the Marriage Pact focuses its 50-question survey on core values. Communication styles and conflict resolution.” This is what significantly sets it apart from dating apps that allows for the distraction of aesthetics that often mislead our assessment of actual compatibility.

For this to work at HBCUs though it cannot be an exactly Copy & Paste without nuance. African Americans are caught in a vortex between not being able to afford to get married and not being able to afford not too. A large driver of closing the wealth gap is getting African American marriage rates up in order to scale capital and resources among African American families and into African American institutions. While the development of the HBCU Marriage Pact would go a long way it must also come with addressing some of the unique barriers that many African Americans face in building healthy relationships and this is where HBCUs and HBCU alumni associations can come in. Funding an African American Marriage Development Program. In the program students can learn about the history of African American marriage, healthy communication, receive therapy, learn household financial planning, etiquette, and other tools to increase the probability of a sustainable and productive marriage. For an added bonus, those who get married through the HBCU Marriage Pact would also be eligible to receive a financial grant to assist in funding the newlywed couple’s emergency fund in hopes of also mitigating some of the early financial pressures that African American couples face.

HBCUs themselves could coordinate consortium research around the HMP to conduct a longitudinal study to see the HMP’s potential impact. It has a myriad of interdisciplinary components that could be researched from education, economics, health, and many more. Quite an amazing prospect that we could be both putting into action a solvable problem and being the institutions that conduct the research around its theory.

The foundation of all Black institutions is the foundation of the African American family and it is in peril because African Americas are not pairing with each other for a myriad of reasons. But if we are to ensure there are African Americans tomorrow who want to attend HBCUs, then today and immediately we must engage of the work to incentivize and strategize for more of it to happen. The more African American couples who are also HBCU alumni deepens the empowerment and strength of both institutions continuing to be the institutions of our community and not gentrified or diluted like so many of our institutions have lay burden to or under attack by this very moment.

4 WAYS TO STRENGTHEN AN HBCU MARRIAGE PACT:

If they choose to sign up for the pact, then they must complete wholistic development of therapy, financial literacy, parenting classes, and more that would show they have the proper aptitude to be someone’s partner.
Developing HBCU marriage chapters in cities. This would allow HBCU couples to meet and network with each other to build and develop community.
Offer continuing education workshops in best marriage and family practices so that HBCU couples can continue to learn about best practices for community and family building.
Create an endowment that gives a financial reward marriage capped at the 10 year anniversary mark. $1,000 in year 1, $2,000 in year 2, so on and so forth up to year 10 when the couple receive $10,000. A combined $55,000 over ten years that would go into financially strengthening the burgeoning family.