Dwana Franklin-Davis

The U.S. economy is leaving $16 trillion on the table by ignoring Black-owned companies. That’s the national conversation now underway, thanks to the newest story on the issue from Fortune leadership editor Ruth Uhmo. She intreviewed Moses Harris, head of the Black/African American segment at Wells Fargo Commercial Banking, which funded the first-ever focused research with the National Center for the Middle Market on Black-owned companies with $25MM-$500MM in annual revenue. (Download free report here: https://lnkd.in/gGmHaMq8) Moses told Ruth: “We don’t really ask white people, ‘What has racism stolen from you?’ And I think unequivocally, as American citizens, we can say that this cost us all $16 trillion due to the lack of inclusion for diverse businesses… It’s better schools, better roads, better transportation. It’s all the things we can do with all that extra capital. That’s why this matters.” https://lnkd.in/gtzA6w7F Kristy Williams Fercho Matt Hurwitz Ruth Jacks Jud Murchie U.S. Black Chambers, Inc. Minority Business Development Agency - U.S. Department of Commerce National Minority Supplier Development Council (NMSDC) Doug Farren Kim (Roseler) Barnhart The Ohio State University Fisher College of Business

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🛑 The Battle Between Tides and Black Lives Matter: Choosing the Right Fiscal Sponsor (FS) 🛑 Recent news about Tides and BLACK LIVES MATTER highlights the importance of selecting the right fiscal sponsor (FS) for startups. Over two decades, I’ve worked with various FSs, guiding board development, establishing 501(c)(3) entities, and supporting transitions from advisory to governing boards. Some thoughts on selecting a fiscal sponsor: ➡ Mission and Values Alignment: Dig deep into the FS’s business model and 990 forms to ensure true alignment with your goals. Beware of predominantly money-making models. ➡ Transparency and Accountability: Look for a track record of transparent financial and operational practices. Ask specific questions about their support mechanisms. ➡ Roles and Responsibilities: In your MOU or agreement, define clear roles and responsibilities, including conflict resolution mechanisms. ➡ Mutual Accountability: Understand the mechanisms for mutual accountability and shop around for the best FS options without rushing. ➡ Support Services: Evaluate the range and quality of support services by speaking with a variety of FSOs managed by the FS. Ensure they can support your growth and potential transition to a 501(c)(3). ➡ Life Trajectory of FSO: Include a clause for the option to spin off at your own timeline to accommodate growth, like movements such as Black Lives Matter. ➡ Reputation and Stability: Review various sources, including 990 forms and feedback from other FSs, to distinguish PR from actual practices. ➡ Provider Interaction: Meet with key department heads to ensure alignment with their written values. ➡ Conflict Resolution: Your agreement or MOU should lay out explicit avenues for conflict resolution. Aim for collaborative, solution-oriented approaches to help avoid the last stop of going to regulatory bodies. ➡ Advisory Board: Shape an advisory board to function like a governing board without legal liability, supporting leadership in organizational growth. ➡ Mental Health and Well-being: Ensure FS understands the leadership's need for mental health, allowing leaders to unwind, de-stress, and build connections in a relaxed environment. ➡ DEIB: If you are a person of color leading the FSO, it is important to consider FS's practices in addition to rhetoric. ➡ Funder: Keep your funder informed and engaged. Most funders are risk averse, but their investment makes them your strong ally. 📢 Final Thoughts: Selecting the right fiscal sponsor requires thorough evaluation and due diligence. Considering these factors can help nonprofits establish partnerships that enhance their impact and sustainability. If you need advice or a sounding board as you navigate this process, feel free to reach out to me. #Nonprofit #FiscalSponsorship #PublicHealth #HealthEquity #NonprofitLeadership #NonprofitManagement #Transparency #Accountability #MissionAlignment

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For decades, discriminatory lending practices have systematically blocked Black and Latino communities from accessing capital that is essential to build generational wealth. Whether that be mortgages that lead to cash equity that can be used to start a business, or an actual business loan, discriminatory lending is a large contributor to the racial wealth gap in the United States today. At ESO Ventures, we are committed to reversing this injustice. Our mission is to make entrepreneurship, and therefore capital, accessible for all, especially those who have been deliberately excluded from attaining such opportunities. We believe that by empowering these communities, we can foster shared prosperity and build a stronger, more equitable economy. Learn more at https://hubs.ly/Q02DCTYl0 #EconomicJustice #InclusiveGrowth #BuildWhereYouAre #CapitalInTheCommunity

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We can see 👀 that community-led collaborative funds are emerging as powerful tools for driving equity and justice. These funds 💵 unite diverse stakeholders around shared goals, pooling resources to address complex social challenges. By fostering collaboration among donors, nonprofits, and community leaders, collaborative funds amplify impact and drive meaningful change at scale 💬. Community-led collaborative funds prioritize equity and justice, channeling resources towards systemic solutions💡and underrepresented communities. 🌍 By bringing together a diverse array of perspectives and expertise, these funds amplify grassroots initiatives, promote inclusive decision-making, and dismantle barriers to opportunity. 🙌🏽 🙌🏾 🙌🏿 Through strategic investments in areas such as education, healthcare, and economic empowerment, community-led collaborative funds drive tangible progress towards a more just and equitable society. How can we leverage these funds to address systemic inequalities and advance social justice? 🌀 Share your thoughts and experiences in the comments below! How do you envision community-led collaborative funds shaping the future of philanthropy? #collaboration #PhilanthropicAdvising

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Currently, only 3% of investment capital goes towards women and people of color. By failing to support diverse-led initiatives, the world misses out on unique and innovative solutions. Inspire Access aims to reshape the investment landscape, closing the racial and gender wealth gap by funneling philanthropic dollars into diverse-led companies. Patrice Brickman, founder and CEO of Inspire Access, shared insights on this topic at the Milken Institute Conference earlier this month. Check out more videos from the conference: https://lnkd.in/eK6X53cj A recent BCG article, "In Private Investment, Diverse Fund Management Teams Have Opened Doors," explores how diverse leaders are fundamental to asset management: https://lnkd.in/eNut5RAW.

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Interesting conversation about the longevity and caregiving market, the financial implications of doing nothing, the ways that people are thinking of building new businesses and solutions to serve the growing needs, and what some companies like Bank of America are doing to support their employees. Looking forward to hearing more of Kai Walker's perspective on this at our Business Collaborative for Brain Health https://lnkd.in/e8A9JzT7 meeting this week. Cynthia Hutchins, Kristine Fedorenko, Sarah Lenz Lock, JD Harris Eyre MD PhD, Rajiv Ahuja, JD

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My thoughts exactly.

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I am teaching part of the course today for the Equity Impact Investment program that works to teach and help develop partnerships between economic development organizations and community based organizations. This is a partnership program with NGIN and LISC. I wrote a large chunk of the EDO side of the curriculum, and one of the level setting descriptions of equitable economic development ecosystems for us to consider is this: "An economic development ecosystem is a complex network of entities, organizations, institutions, and individuals that work together to drive the economic growth and overall well-being of a particular geographic area or community. This interconnected system encompasses various stakeholders, including businesses, government agencies, educational institutions, non-profit organizations, and community members. Equitable economic development ecosystems differ from traditional economic ecosystems in two key aspects. First, they aim to produce a fair(er) distribution of economic growth within a specific location. Secondly, they are characterized by a diverse network of organizations and actors that are driven to determine and achieve this fair distribution of growth. These ecosystems prioritize the voices of all stakeholders directly impacted by economic development decisions and empower them in decision-making." 

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Excited to share that the 2023 impact report for LISC's Black Economic Development Fund (BEDF) is now live. Since 2020, with generous support from our investors, BEDF has committed a majority of its capital, investing $211.9 million to fuel Black-led financial institutions, Black-led businesses, and other organizations doing business in predominantly Black communities addressing economic challenges and contributing to closing the racial wealth gap. Through initiatives like BEDF, LISC remains at the forefront of efforts to enhance capital access for entrepreneurs serving communities of color. Here's the breakdown: https://lnkd.in/epq7mrN5 LISC Strategic Investments

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Calling all Corporate and Non-profit sectors to join forces. In our ongoing efforts to close the racial wealth gap and amplify the impact of our work, we must explore innovative approaches. Drawing from my experience in Corporate America at Citizens Bank and Bank of America, I've seen firsthand the power of a Shared Services Model for cost-saving and efficiency. However, the non-profit sector, particularly grassroots organizations, often operates with limited funds and tight budgets. One area where this limitation is keenly felt is in communication and marketing efforts. Many organizations require PR and marketing support but may not always justify a full-time hire. That's why I'm proposing exploring a shared services model for communication and marketing. By pooling our resources and expertise, we can collectively leverage professional communication and marketing strategies at a fraction of the cost. With a shared services model, organizations could access PR and marketing professionals as needed, ensuring that our messages are effectively communicated and our impact stories reach the right audiences. Team RIBBA is eager to discuss this concept further and explore how to make it a reality to support the non-profit sector meaningfully. Would you be interested in joining the conversation? Thanks for considering this initiative. We're the change-makers! Let's disrupt the status quo of doing business, as it often holds many small organizations back from reaching their fullest potential. Together, let's break down barriers and create new pathways for success. Please DM me with any initial thoughts on this idea. Together, we can make a difference. #change #success #leadershipmatters #doers #sharedservicemodel #bold #impact #leaders #partnership

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In an era of heightened awareness around systemic inequalities, it's crucial for organizations to elevate their CSR efforts. Initiatives supporting Black-owned businesses can drive economic growth, dismantle barriers, and promote diversity. Despite making up over 4% of Canada's population, Black Canadians face significant economic challenges, with only 2.1% of businesses being Black-owned. Through supplier diversity programs, mentorship, and access to capital, CSR can empower Black entrepreneurs. Read more on Forbes: https://lnkd.in/ey7kygcS #CSR #BlackEntrepreneurs #EconomicGrowth #DiversityAndInclusion #SupportBlackBusinesses

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🖤 Today is Black Women's Equal Pay Day. Here is the reality: For every $100 a white household holds, black households hold only $15. This stark disparity underscores the urgent need to address the broader implications of the racial wealth gap, especially when it comes to creating affordable and sustainable care solutions for Black women, mothers, and their families. The racial wealth gap is a serious barrier to accessing quality childcare and eldercare, both of which often come at a premium. Low-paying jobs, held disproportionately by Black families, cannot meet these costs. In the last decade alone, the price of childcare has surged by over 25%, further widening the gap. The impact of this disparity is profound: 🖤 Black women are paid 63 cents for every dollar paid to white, non-Hispanic men, leading to an average loss of nearly $24,110 per year. 🖤 Black families are less likely to have access to employer-sponsored childcare or eldercare benefits. 🖤 Black women are more likely to work in the care economy yet face some of the lowest wages in these sectors. We need structural solutions to close the racial care gap, including: 💵 Fair pay: Ensuring that Black women receive equal pay for equal work. 🇺🇸 Fair policies: Implementing policies that support affordable and accessible childcare and eldercare for all families. 🏣 Fair workplaces: Creating work environments that provide necessary support and benefits for Black women and their families. Addressing these issues is not just about equality but also about justice and economic sustainability. We must work together to ensure that Black women are not left behind in the fight for fair wages and equitable care solutions. Let's commit to taking actionable steps toward closing the racial care gap and ensuring a more equitable future for all. The Care Gap (by Mother Honestly) #BlackWomensEqualPayDay #EqualPay #RacialCareGap #CareEconomy #EquityInCare #FairWorkplaces

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During BIA's NY DOBI Impact Gathering, Ifeoma Ike, Esq., Founder & Chief Equity Weaver of Pink Cornrows, highlighted crucial statistics often overlooked in discussions about building equitable ecosystems. Ifeoma's insights underscore the systemic barriers Black entrepreneurs face and the urgent need for a shift in mindset among those with power and resources. #BlackInnovationAlliance #Equity #BIADOBI

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As Hurricane Beryl crashes into the Texas coast, we're reminded that while the immediate impacts are dire, the long term consequences can be equally disastrous. In this piece, Michael T. Pugh and I argue that with more intense storms coming our way, we need to ensure that the most vulnerable communities - often the first hit and last to recover - are fortified for a changing climate future. In #WhatsPossible, some of the leading voices on climate and community development come together as one to show a roadmap for a cleaner, healthier, more resilient future for our frontline communities. Now more than ever, corporations, community groups, policymakers, financial institutions and climate advocates have an opportunity to combine financial resources and local expertise in ways that advance a just energy transition.

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Join Philanthropy DMV for a discussion on what regional funders need to know about the shifting landscape of DEI & race-based initiatives. We will bring together legal, business and community-based observers to help PDMV members better understand and navigate the realities of recent DEI rollbacks. In the past year, we have seen increased legislative bans and other legal challenges to diversity, equity and inclusion (DEI) efforts across the United States. What should leaders know to make informed – not reactionary – decisions about DEI funding and initiatives? How do we purposefully and collectively stay the course to drive equitable solutions for wellbeing and prosperity in the region amidst these growing trends? Following the panel discussion, join us for conversation and cocktails during our social hour! https://lnkd.in/edzcwZMp

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As more households struggle to find housing they can afford, homelessness is increasing across the country. The solution is to address the issue head on providing housing and supportive services – not by ticketing or arresting people who don’t have a safe place to sleep. I emphasized that point in my remarks in Atlanta to the Housing First Partners Conference and in two amicus briefs we filed with the Supreme Court in the Grants Pass case. Housing First works. Permanent supportive housing works. When we pair concrete solutions with compassionate care, we see long term housing stability – which means fewer cycles in hospitals, through the prison system, and through substance abuse programs. When we put those solutions together with larger strategies, we can reduce, and even end homelessness.

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🚀 The Future of Wealth: A Call to Action for Black and Brown Communities 🚀 Tune in to an urgent and powerful episode of the RISE Urban Nation Podcast, “The Future of Wealth: Empowering Black and Brown Communities.” Our guest highlights the critical need for immediate action within Black and Brown communities to secure and build wealth for future generations. 📈 The discussion focuses on the stark projections for wealth accumulation in these communities and the pivotal role that equity, diversity, and inclusion play in reversing these trends. Our expert shares inspiring insights on the necessary changes and strategies to foster economic empowerment. 💬 What steps do you think are essential for Black and Brown communities to enhance their economic future? How can initiatives in equity, diversity, and inclusion contribute to this goal? 👍 Like, comment, and share your ideas and strategies below. Engage with us as we explore actionable solutions to ensure a prosperous future for these communities. Your voice matters as we discuss how to make impactful changes. #EconomicEmpowerment #CommunityWealth #SocialJustice #DiversityAndInclusion #RISEUrbanNation

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Solidarity Required Attacks by racists are not new Or surprising The way forward has been articulated over and over again. These are not new or open questions and when the response centers the views of women racialized as white, it is not particularly inspiring. As the lollipop woman said in 2017, we’ve been telling y’all for a long time. Here is a comprehensive research study with an action agenda that provides root cause analysis and ways to move forward. For those interested in actually making change not talking about skirmishes. https://lnkd.in/eym2tDQx

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