Tag Archives: african american nonprofits

Could You Spend $30 Million In 30 Days on Us? How Monty Brewster Could Have Spent $30 Million with African American Businesses

Posted on April 18, 2025 by | Leave a comment

“And we’re in the business of being in business, and we’re doin’ business.” – “Monty” Brewster

The 1985 film Brewster’s Millions, starring Richard Pryor as Montgomery “Monty” Brewster, tells the story of a man who must spend $30 million in 30 days without accumulating assets or informing anyone of his goal in order to inherit $300 million. Adjusted for inflation, Brewster’s $30 million would be approximately $85 million in today’s dollars, while the $300 million inheritance would be worth over $850 million. While Monty’s spending spree involved extravagant parties, failed investments, and creative tactics to burn through cash, the film missed an opportunity to showcase meaningful economic empowerment strategies. By directing his wealth toward African American businesses, Monty could have positively impacted communities while still meeting the conditions of the challenge. This article outlines how Brewster could have spent his fortune effectively within the African American business ecosystem.

  1. Investing in Education, Arts, and Wellness for African American Communities ($1.5 million or $4.25 million in today’s dollars)

Monty Brewster could have channeled a portion of his funds toward HBCUs, African American arts organizations, and health initiatives. These institutions play a vital role in developing African American leadership, entrepreneurship, and cultural advancement. Brewster could have funded scholarships, financed infrastructure improvements, or supported specialized academic programs such as business incubation centers. Additionally, Brewster could have become a major patron of African American artists, musicians, and cultural organizations. Funding live performances, commissioning murals and sculptures, or sponsoring large-scale cultural events would have allowed him to inject cash into the creative sector while meeting the requirement to spend without accumulating lasting assets.

Health disparities have historically affected African American communities. Brewster could have supported Black-owned health clinics, funded wellness programs, or launched temporary mental health outreach initiatives. Sponsoring community health fairs and free medical check-up events could have aligned with his spending goals. To adhere to his challenge’s constraints, Brewster is limited charitable giving to $1.5 million. Within that budget, he could have made substantial contributions to civil rights organizations such as the National Center for Black Family Life, Black Teacher Project, and African American Credit Union Coalition. Funding advocacy campaigns, legal defense funds, and educational outreach programs would have ensured his spending aligned with causes that strengthen social equity. By underwriting public awareness campaigns or supporting temporary voter registration drives, he could have spent large sums while advancing civil rights initiatives.

  1. Supporting African American Media Companies ($4 million or $11.3 million in today’s dollars)

The media landscape has historically marginalized African American voices. Brewster could have spend money in Black-owned newspapers, radio stations, and production companies. By purchasing advertising space, sponsoring TV segments, or funding film productions that amplify African American stories, he could have spent millions while strengthening the narrative control of the community. This would have been especially true when he ran for mayor of New York City with his “None Of The Above” campaign which allows him to burn through millions.

  1. Empowering African American-Owned Interior Designers ($3 million or $8.5 million in today’s dollars)

Instead of investing in real estate projects with limited long-term impact, Brewster could have hired African American-owned interior design firms to revamp commercial spaces, restaurants, and event venues. Funding redesigns for offices, galleries, or retail spaces would have allowed him to spend significant amounts quickly while showcasing Black creative talent. Partnering with these designers to create temporary installations, pop-up exhibits, or themed public events would further align with Brewster’s spending objectives.

  1. Supporting Black-Owned Restaurants and Hospitality ($5 million or $14.2 million in today’s dollars)

Instead of squandering money on excessive parties with little social value, Brewster could have organized lavish gatherings catered exclusively by Black-owned restaurants, breweries, and event-planning companies. Hosting galas, networking events, or concerts powered by African American businesses would have rapidly spent millions while empowering these enterprises. Additionally, Brewster could have pre-paid months of reservations at Black-owned hotels for conferences, weddings, and events that celebrate Black culture.

  1. Promoting and Empowering African American Entrepreneurs in Technology ($4 million or $11.3 million in today’s dollars)

During the 1980s, technology was emerging as a transformative industry. Brewster could have directed funds to African American inventors, tech startups, and computer training programs. Sponsoring computer literacy drives in underserved neighborhoods, purchasing computers for community centers, or funding coding boot camps would have injected significant capital into this sector without violating the “no assets” condition. Additionally, Brewster could have launched a series of pitch competitions or startup grant programs to fund Black entrepreneurs. By awarding no-strings-attached grants to aspiring business owners, Brewster could have circulated his funds directly into the hands of innovative minds in the community. Creating a “Brewster’s Millionaire Fund” for new ventures would have established a lasting narrative of empowerment.

  1. Financing Black-Owned Transportation Companies ($4 million or $11.3 million in today’s dollars)

Brewster’s challenge required rapid cash outflows. He could have achieved this by chartering fleets of Black-owned transportation services, including buses, limousines, and taxis. Organizing free ride programs, senior citizen transport services, or back-to-school bus initiatives would have ensured meaningful community impact while fulfilling the spending requirements.

  1. Sponsoring Sports Teams in the African American Community ($4.5 million or $12.7 million in today’s dollars)

In the film, Brewster splurged on funding a struggling baseball team. He could have expanded this vision by sponsoring youth sports leagues, purchasing uniforms from Black-owned apparel companies, and financing travel expenses for underserved teams. By supporting athletics in underserved communities, he would have combined financial impact with social good.

  1. Creating Pop-Up Markets and Retail Experiences ($4 million or $11.3 million in today’s dollars)

To rapidly circulate cash, Brewster could have sponsored temporary markets that featured Black-owned businesses. By covering booth fees, marketing costs, and other overhead expenses, he could have injected cash into dozens of retail entrepreneurs. Such events would celebrate local artisans, designers, and vendors while creating a meaningful economic impact.

Monty Brewster’s dilemma of spending $30 million in 30 days presented a unique opportunity to create lasting change. By investing heavily in African American businesses, nonprofits, and community initiatives, Brewster could have met his goal while strengthening economic power in marginalized communities. Such a storyline would not only have showcased Brewster’s ingenuity but also highlighted the immense potential of targeted investment to uplift communities. If Hollywood ever revisits Brewster’s Millions, perhaps they will reimagine his spending spree as a transformative journey of economic empowerment.

Leave a comment

Posted in Philanthropy

Tagged , , , , , , , , , , ,

Starting a Philanthropy Club: A Collective Approach to African American Giving

Posted on December 16, 2024 by | Leave a comment

“I have found that among its other benefits, giving liberates the soul of the giver.” – Dr. Maya Angelou. 

If you’ve been considering joining or starting an philanthropy club with your family, friends, or fellow HBCU alumni but are unsure if it’s the right move, you’ve come to the right place. The answer is it is absolutely the right move.

A few facts regarding African American organizations and nonprofits:

Philanthropy clubs can be a powerful tool for leveraging African American philanthropy from like-minded individuals. They not only enhance your financial literacy and knowledge about African American and African Diaspora organizations but also empower you to make informed philanthropic decisions. By pooling your resources with your family, you can collectively grow your impact African American nonprofits finances and outreach, fostering a sense of confidence and control over institutional development and empowerment.

Keep reading as we discuss why you might want to start an investment club and the steps you’ll need to take.

Why You’ll Want to Start a Philanthropy Club?

One of the biggest reasons to start an philanthropy club is that they want to learn and share ideas with people who share their values. It makes sense to start a philanthropy club with family, friends, or HBCU alumni because, most of the time, your values are well-aligned. Yes, you may have different opinions, but your values are generally on the same page.

Philanthropy clubs can be a great way to learn about African American causes, organizations, and nonprofits. Because some members may be more seasoned donors, givers, or active in the nonprofit space, they can share their knowledge on certain topics.

Philanthropy clubs are a great way to magnify small donations by each member into a large donation by a focused collective. the increase the impact associated with investing. However, with the rise in so many commission-free brokers, the fees for making a high volume of trades aren’t as big of a deal.

How to Start an Investment Club

If you’re ready to get your philanthropy club with family, friends, or HBCU alumni off the ground, you’ll want to follow these steps to ensure success:

1. Find and Organize Members

Finding members for a philanthropy club is generally one of the most challenging steps. However, it’s a little easier if you’re looking to start one with your family, friends, or HBCU alumni. Either way, ensuring the fit is correct before jumping in is crucial.

A solid philanthropy club should have at least 5 people but no more than 15 or 20. You must have enough ideas, but too many can make things more difficult. Each person will be required to identify a cause, organization, or nonprofit. Then, each month, a different member will present their cause, organization, or nonprofit to the group.

Before extending an invitation to different anyone, ask yourself a few questions. These will help you see if it will be a good fit.

  • Do you trust the person you’re thinking of inviting to be consistent and involved?
  • Will they bring research and ideas to the meetings?
  • Are they organized?
  • Are they going to pay the monthly donation on time?

2. Determine Your Goals

Once you have your members set, you must agree on your goals. Most clubs’ goals will be making donations and learning from others. But how are you going to get to that point?

It’s important to take some time to understand each member’s philanthropic approach. Are they willing to take on more risk or prefer to be more conservative? Do you want to stick with only well known organizations, or are members interested in startup organizations as well? Do they only want to give to domestic organizations? Or are they willing to give to African Diaspora nonprofits working in Haiti, Jamaica, UK, or Africa?

Developing a plan of attack and ensuring that each member is on the same page will be vital to success.

3. Decide How You Want To Give

Deciding on if you want to setup a legal structure for your philanthropy club is important because potentially over time, your club can setup an endowment that invest donors money and that can grow into a significant and sustainable amount of money. Having the necessary legal protections is going to be important. If your philanthropy club decides to actually invest its donations into investments that will grow over time so that the club has larger and more sustainable sums to give is important to think about.

The other option is to simply give everyone the option to donate on their own once the cause, organization, or nonprofit is decided upon. This route relies on the honor system or some type of peer accountability towards giving.

Each philanthropy club must do what works best for them and also realize that the club is allowed to evolve over time.

The Bottom Line

Philanthropy clubs are a great way to pool your donor funds and learn from other members. Just be sure that you join a group where everyone is willing to listen to ideas and pull their own weight within the club.

Leave a comment

Posted in Philanthropy

Tagged , , , , , , , ,

A Family Affair: HBCU Mother And Son Come Together To Lay The Building Blocks For The First Ever Endowment Serving HBCU Faculty

Posted on November 8, 2023 by | 1 comment

My mother was the making of me. She was so true, so sure of me; and I felt I had something to live for, someone I must not disappoint. – Thomas Edison

By William A. Foster, IV

If you asked my mother, Dr. Laurette Foster, to be honest, she is tired of hearing me talk about economics, finance, African American institutions, and HBCU endowments. For well over twenty plus years, I would probably say most of my family is tired of me talking about these subjects. My baby sister, Dr. Aysha (Foster) Williams, often says I can take a conversation about the weather and turn it into a conversation around money. I will admit there is a joy that I get from combing through economic and financial data and building excel spreadsheets that leave many scratching their head.

It is also my studies in institutional development on the graduate level at Prairie View A&M under the guidance of Dr. Rick Baldwin and Dr. Akel Kahera that helped shape the economics and finance training I had many years ago at Virginia State University. But the foundational HBCU professor I had was my mother Dr. Foster, whom I have often referred to as the real life version of Claire Huxtable, who even while I was in elementary school had me working on college algebra problems while we waited in the lobby of my sister’s ballet class to finish. Any time my sister and I were not in school we were on the campus of Prairie View A&M University from elementary through high school. On visits to my grandmother in Petersburg, Virginia during the summer or holidays we would spend copious amounts of time on the campus of Virginia State University. To say we were nourished by professors and staff at every turn culturally and academically during our childhood would be an understatement. Many professors simply became extended aunts and uncles as it were. The profound impact has carried with me my entire life and always will. It is shaping that I yearn for so many other African American children to experience.

Despite this hidden treasure trove of intellect and cultural nourishment, HBCU professors are for many African Americans a place that often despite being underpaid, under resourced, and overworked the hope for so many African American students who matriculate through HBCU grounds in hopes of a better future for themselves, their families, and their communities. No pressure at all. It is these professors that for many will be the first time they will have encountered an African American with an advanced degree. Again, no pressure. However, the pressure does not faze many who simply wish they had the resources to do more. A scarcity that is unfortunately indicative of African America institutionally as a whole. Doing more with less is a mantra that has been pervasive in our community for the past seventy years.

The St. Louis Federal Reserve reports that total financial assets held by U.S. 501(c)(3) organizations is an estimated $5.6 trillion. Despite this reality African American nonprofits have another reality, be they academic or otherwise, they very often fail to garner the financial assets necessary to sustain multiple generations leaving community infrastructure constantly vulnerable and often not being able to pass down and institutionalize the rich intellectual capital that has been accumulated. Over half of all African American nonprofits would close their doors with the loss of just a few key donors meaning most have not created sustainable financial models. Rasheeda Childress of The Chronicle of Philanthropy says, “Most (African American nonprofits) operate on razor-thin margins and need more philanthropic support for training in fundraising, leadership, and financial management, a new survey has found.”

Over thirty years ago, while I was still trying to get out of elementary school, an organization was formed called the HBCU Faculty Development Network. Armed with the mission to help empower and enrich the pedagogy legacy of far too many giants of HBCU academia to name here. For the past 10 years my mother has led the organization as its executive director. My mother surrounded by a tenacious board of directors who want to see HBCU professors excel, they have put in countless hours and annual conferences for their HBCU colleagues and helping shape the HBCU future. But like most African American organizations they too were constantly financially vulnerable and the need to evolve and expand their reach and programming was acutely limited by their resources.  

A year ago, my mother asked me to come and consult the organization on helping ensure its financial future. I assume she grew tired of being the only one who had to hear me rant constantly about the need for African American institutions to take their finances seriously so they could be sustainable and empowered institutions for our community and decided to subject her fellow colleagues as well. Using the blueprint that was published by HBCU Money a few years earlier titled, ’12 Things Your HBCU Alumni Association/Chapter Needs To Do To Be Financially Successful’, we discussed the endless avenues of revenue available to them that would help them grow. Not least among them, would be the establishment of an endowment which according to the Summer Institute of Finance only 11.2 percent of organizations have – meaning that for African American organizations that percentage is probably a minute number in comparison to the overall although no specific data exist. The board diligent and committed over the course of a few days and sessions we were able to lay the groundwork for what came to be. 

At the HBCU Faculty Development Network’s 2023 Annual Conference in Houston, Texas they were finally ready to unveil the hard work. The formation of the endowment was announced to their membership and those in attendance to the conference. My life as an economist and financier that has been built and shaped to support African American institutions is culminated in moments like this. That my mother and all those HBCU professors who cultivated me over the years so that I could bring my experience and expertise to them and ensure that their legacies will live on is truly one of the proudest moments of my life and to be able to share it with my mother makes it truly priceless.

To donate to the HBCU Faculty Development Network’s endowment, click here.

A special thank you as well to the board for trusting the process and embracing this new day.

Dr. Donald Collins, Prairie View A&M University

Dr. Karen Stewart, Texas Southern University

Dr. Ruby Broadway, Dillard University

Dr. China Jenkins, formerly of Texas Southern University

1 Comment

Posted in Philanthropy

Tagged , , , , ,

5 Ways Black Men Can Invest In Black Boys

Posted on May 29, 2023 by | Leave a comment

“It is easier to build strong children than to repair broken men.” – Frederick Douglas

The statistics and data around Black boys/men is and has been alarming for decades. As African Americans in the post-Civil Rights era began to abandon our own institutions arguably nobody has suffered as a result more than Black boys. In almost every category of substance Black boys/men trail and trail significantly against the overall society and within our own community. The consequences of this is seen in the struggles of our communities, institutions, and families. Where are the Black men is a question that is asked so often in spaces that in many ways it has become redundant. Unfortunately, the answer is they were lost as Black boys never to be seen from again in many ways. To become substantive members of our community, families, and institutions requires education, training, mentorship, and so much more. The reality on the ground is that there is very little in the way of organizations or resources that provides enough of that. While Black women have taken upon themselves to create, support, and fund initiatives that support the development and growth of Black girls, Black men have not done the same for Black boys. Conversations between Black men about how they can help Black boys tends to seemingly 99 percent revolve around sports as an answer. Black boys and sports has become a catch all for all things that ail Black boys and yet the outcomes suggest that is a failed investment. The question now is what going forward can Black men do to holistically develop and improve the outcomes of Black boys. Take responsibility and accountability for them. The time for deflecting blame is a broken record in many instances and while there are external forces at work constantly against African American men and our boys, we would be remiss not to as men deal with the protection and providing for them within our control.

  1. Pre-K-5 Investment Is Imperative. African American boys get lost and they get lost early. The majority of any investment made into African American boys needs to be made in early childhood development. This is where boys develop cultural identity, mental health fundamentals, educational confidence, and more. Any conversations that we have about Black boys needs to be heavily weighted on reaching them as early as possible and as often as possible. The foundation of anything being built will always be the most important part of that structure.
  2. Donating To African American Organizations That Specifically Support Black Boys. The easiest thing any of us can do is make sure the organizations that are trying to help our boys have the resources they need to not only fulfill their mission, but to excel at their mission and to exceed their missions expectations. For African American organizations who receive less than 2 percent of all national funding into NPOs, this is a mountainous hurdle. African American men can simply make sure they are active donors if they can afford to be and anything is better than nothing as the old saying goes. African American men can do this individually, but the stronger pathway would be as a collective. Two friends or twenty friends of African American men giving together is powerful for accountability towards giving, conversations about giving, strategic pathways to giving, and of course more capital towards giving.
  3. Create More Organizations That Support Black Boys. Simply put, there just are not many African American organizations that are targeted towards developing Black boys. Arguably, that is because African American men have not created them. This is where inevitably Black boys get funneled into sports and nothing else. Largely because that is what is available. Organizations that solely focus on and encourage Black boys to develop themselves educationally, mentally, artistically, and more are largely absent and in need of existence on the nonprofit landscape. African American men have to take the responsibility of identifying, cultivating, and developing areas where Black boys need development and creating organizations around them. To be clear, we are not talking about organizations where it is boys of color or side initiatives, but actual organizations being created where Black boys are the focus, period.
  4. Subsidizing Black Boys Supplemental Education. Black boys throughout K-12 do not get nearly enough supplemental education. The basic nature of supplemental education is everything that happens outside of a child’s classroom that makes them stronger in the classroom at its essence. Providing Black boys and their families assistance with tutoring costs, trips to museums, art galleries, academic camps, therapy, etc.
  5. Give Your TIME and Be PRESENT. This is free. For whatever reason, African American men are plain and simply absent in activities for Black boys beyond sports. From Boy Scouts, tutors, mentors, and civic engagement in general, African American men are just missing for reasons that are frustratingly hard to understand.

What are we up against? Here are just a few reasons African American men need to be at the forefront of the needs of African American boys.

  • The 2019 National Assessment of Education Progress data also highlighted that only 6% of 12th-grade Black males were reading at the proficient level and only 1% were reading at the advanced level.
  • In 2021, 76% of Black boys finished high school compared to 93% of Asian boys.
  • According to the National Center for Education Statistics, only 36% of Black male students completed a bachelor’s degree within six years (52% of Latino male students completed theirs within the same time. White males graduated at a rate of 63% in six years.)
  • U.S. Census reports African American boys 17 and under comprise over 40% of the African American males in poverty.
  • Of the 12.3 million African American men over the age of 25, almost 50% have only a high school diploma or less according to the U.S. Census.

There is a war going on against African American boys and African American men are leaving them to fight for themselves. Our boys are more than their physicality. They are thinkers, they are astronauts, teachers, gardeners, and so much more, but like a flower they too must be nourished and care for by us. African American men can not leave African American boys to experience the gauntlet of life too many of us have already lived.

Leave a comment

Posted in Philanthropy

Tagged , , , , , , ,