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Apple Adds $25 Million to Racial Equity and Justice Initiative, Increasing Financial Commitment to over $200M since 2020

This week, Apple announced its Racial Equity and Justice Initiative (REJI), a long-term global effort to advance equity and expand opportunities for Black, Hispanic/Latinx, and Indigenous communities, has more than doubled its initial financial commitment to total more than $200 million over the last three years.

Since launching REJI in June 2020, Apple has supported education, economic empowerment, and criminal justice reform work across the U.S., with recent expansion to Australia, the U.K., and Mexico.

Apple launched REJI at a pivotal moment in the U.S., as protests against racial injustice in the wake of the murders of Ahmaud Arbery, George Floyd and Breonna Taylor swept the nation.

“Building a more just and equitable world is urgent work that demands collaboration, commitment, and a common sense of purpose,” said Tim Cook, Apple’s CEO. “We are proud to partner with many extraordinary organizations that are dedicated to addressing injustice and eliminating barriers to opportunity. And we’ll continue to lead with our values as we expand our efforts to create opportunities, lift up communities, and help build a better future for all.”

Apple has reported that REJI’s education grants have reached more than 160,000 learners through in-person courses and out-of-school offerings, while committing over $50 million to Historically Black Colleges and Universities (HBCUs) and Hispanic-Serving Institutions (HSIs) to support science, technology, engineering, arts, and math opportunities.

With a focus on economic empowerment, REJI funds financial institutions — including venture capital firms, Community Development Financial Institutions, and Minority Depository Institutions — that support Black, Hispanic/Latinx, and Indigenous entrepreneurs and businesses.

As part of its expanding work, Apple also announced a new partnership with the My Brother’s Keeper Alliance (MBKA), a program of the Obama Foundation. Through this strategic partnership and funding, Apple aims to help close opportunity gaps faced by boys and young men of color by supporting training for community leaders and MBKA staff, expanding programming for boys and young men of color, and strengthening the MBKA network through targeted community impact microgrants. The program plans to train more than 500 leaders and engage over 50,000 youth across the U.S.

“Apple’s continued support of the My Brother’s Keeper Alliance empowers the foundation to develop and implement new initiatives that create opportunities for our young people,” said Valerie Jarrett, the Obama Foundation’s CEO. “Together, we are building a more inclusive educational system that nurtures creativity, fosters innovation, and transforms the lives of boys and young men of color across the country. We are grateful for their partnership and look forward to our continued collective efforts to ensure all youth can reach their full potential.”

REJI’s criminal justice reform grants are reported to have supported providing legal services, safe housing, identification services, healthcare access, and other vital reentry services for more than 19,000 justice-impacted individuals.

To combat systemic racism, REJI and Apple have partnered with several community colleges — including the Los Angeles Community College District, Delgado Community College in New Orleans, and Houston Community College — to implement programs to help incarcerated and paroled individuals learn new skills, prevent recidivism, and create economic opportunity for parolees and probationers.

Apple has also made meaningful contributions to various nonprofit organizations that advance equity and justice, including the Anti-Recidivism Coalition, Defy Ventures, Vera Institute of Justice, and The Last Mile.

To learn and read more about Apple’s Racial Equity and Justice Initiative, check out its REJI Impact Overview.

Bank of America Launches Zero Down Payment Mortgage Plan to Expand Homeownership Opportunities in Black and Latinx Communities

Bank of America recently announced a new zero down payment, zero closing cost mortgage plan for first-time homebuyers, which will be available in certain markets, including African American and/or Hispanic-Latino neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami.

What BofA is calling “The Community Affordable Loan Solution™” aims to help eligible individuals and families obtain an affordable loan to purchase a home.

“Homeownership strengthens our communities and can help individuals and families to build wealth over time,” said AJ Barkley, head of neighborhood and community lending for Bank of America. “Our Community Affordable Loan Solution will help make the dream of sustained homeownership attainable for more Black and Hispanic families, and it is part of our broader commitment to the communities that we serve.”

The Community Affordable Loan Solution is a Special Purpose Credit Program which uses credit guidelines based on factors such as timely rent, utility bill, phone and auto insurance payments. It requires no mortgage insurance or minimum credit score.

Individual eligibility is based on income and home location. Prospective buyers must complete a homebuyer certification course provided by select Bank of America and HUD-approved housing counseling partners prior to application.

This new program is in addition to and complements Bank of America’s existing $15 billion Community Homeownership Commitment™ to offer affordable mortgages, industry leading grants and educational opportunities to help 60,000 individuals and families purchase affordable homes by 2025.

According to the National Association of Realtors, currently there is a nearly 30-percentage-point gap in homeownership between White and Black Americans; for Hispanic buyers, the gap is nearly 20 percent. And the competitive housing market has made it even more difficult for potential homebuyers, especially people of color, to buy homes.

In addition to expanding access to credit and down payment assistance, Bank of America provides educational resources to help homebuyers navigate the homebuying process, including:

  • First-Time Homebuyer Online Edu-Series,™a five-part, easy-to-understand video roadmap for buying and financing a home, available in English and Spanish.
  • BetterMoneyHabits.com free financial education content, including videos about managing finances and how to prepare for buying a new home.
  • Bank of America Down Payment Center – site to help homebuyers find state and local down payment and closing cost assistance programs in their area. Bank of America participates in more than 1,300 state and local down payment and closing cost assistance programs.
  • Bank of America Real Estate Center – site to help homebuyers find properties with flags to identify properties that may qualify for Bank of America grant programs and Community Affordable Loan Solution™.

For more information, contact Bank of America at 1-800-641-8362.

Read more: https://www.prnewswire.com/news-releases/bank-of-america-introduces-community-affordable-loan-solution-to-expand-homeownership-opportunities-in-blackafrican-american-and-hispanic-latino-communities-301614686.html

https://www.businessinsider.com/bank-of-america-zero-down-mortgages-buy-home-cheaper-easier-2022-9

Economist Lisa Cook Confirmed to Federal Reserve Board, 1st Black Woman Governor in Agency’s 108-Year History

According to washingtonpost.com,  economist Lisa Cook was confirmed today to serve on the Federal Reserve Board.

She is the first Black woman to help oversee the nation’s central bank as it works to stabilize financial recovery in the United States.

To quote from washingtonpost.com:

Cook was confirmed by a 51-to-50 vote in the Senate, with Vice President Harris casting the tiebreaking vote.

No Republicans voted for Cook, and Democrats, who hold a razor-thin majority, had delayed moving forward on her nomination until they could assemble all 50 of their members to back her.

Cook is among the country’s preeminent economists and teaches at Michigan State University.

Her research has focused on macroeconomics, economic history, international finance and innovation, particularly on how hate-related violence has harmed U.S. economic growth.

Her work has analyzed how patent records show that the riots, lynchings and Jim Crow laws that targeted African American communities in the late 1800s and early 1900s hurt Black people’s ability to pursue inventions and discoveries at the time.

Cook also worked on the White House’s Council of Economic Advisers during the Obama administration and has held visiting appointments at the National Bureau of Economic Research, the University of Michigan and the Federal Reserve Banks of New York, Chicago, Minneapolis and Philadelphia.

Read more:

#JazzAppreciationMonth: The Savoy Ballroom – Harlem’s “Home of Happy Feet” (LISTEN)

by Lori Lakin Hutcherson (@lakinhutcherson)

As #JazzAppreciationMonth nears its end, today GBN celebrates the “Home of Happy Feet” that was one of the first integrated public entertainment spaces in the U.S., Harlem’s once famous  Savoy Ballroom.

To read about the Savoy, read on. To hear about it, press PLAY:

[You can subscribe to the Good Black News Daily Drop Podcast via Apple Podcasts, Spotify, Google Podcasts, rss.com or create your own RSS Feed. Or listen every day here on the main page. Full transcript below]:

Hey, this is Lori Lakin Hutcherson, founder and editor in chief of goodblacknews.org, here to share with you a bonus daily drop of Good Black News for Sunday, April 24th, 2022, based on the “A Year of Good Black News Page-A-Day Calendar” published by Workman Publishing.

It’s in the category for Black Museums and Landmarks we call “Get The Knowledge”:

Located in Harlem, New York, the Savoy Ballroom was known as “The World’s Finest Ballroom” and the “Home of Happy Feet” from its 1926 opening to its 1958 close.

Unlike other ballrooms of the era, the Savoy always had a no-discrimination policy and showcased the finest swing music in the city.

The Savoy offered non-stop music from two bandstands that attracted dancing pros like Whitey’s Lindy Hoppers as well as everyday people looking to have a good time.

Chick Webb, of the prominent house band leaders at the Savoy, had a top 10 hit in 1934 with the song composed by his saxophonist Edgar Sampson that you are hearing now, called – what else – “Stompin’ At The Savoy.”

In 2022, Frankie Manning and Norma Miller, members of Whitey’s Lindy Hoppers, unveiled a commemorative plaque for the Savoy Ballroom on Lenox Avenue:

To learn more about the Savoy Ballroom, check out welcometothesavoy.com, a site that’s restoring the Savoy with a VR experience, and they have a great collection of photos from the Savoy’s heyday on view now, watch the 1992 television movie Stompin’ At The Savoy directed by Debbie Allen, available on Amazon Prime Video or Roku.

Watch clips about the history of the Savoy on YouTube, or read Swinging At The Savoy: The Memoir of a Jazz Dancer by Norma Miller. Links to these and other sources are provided in today’s show notes and in the episode’s full transcript posted on goodblacknews.org

This has been a bonus daily drop of Good Black News, written, produced and hosted by me, Lori Lakin Hutcherson.

Intro and outro beats provided by freebeats.io and produced by White Hot.

“Stompin’ At The Savoy” by Chick Webb’s Orchestra is included under fair use.

If you like these Daily Drops, follow us on Apple, Google Podcasts, RSS.com, Amazon, Spotify or wherever you get your podcasts. Leave a rating or review, share links to your favorite episodes, or go old school and tell a friend.

For more Good Black News, check out goodblacknews.org or search and follow @goodblacknews anywhere on social.

Sources:

University of Michigan Economist Susan M. Collins to Become President and CEO of the Federal Reserve Bank of Boston

University of Michigan economist and executive vice president of academic affairs Susan M. Collins will be the next president and chief executive officer of the Federal Reserve Bank of Boston, taking office on July 1.

Collins will be only the second Black president and first Black woman to head one of the 12 Federal Reserve banks in the century-plus history of the institution. Raphael Bostic, the Federal Reserve Bank of Atlanta president, was the first Black person ever to lead a reserve bank.

“It is an honor and an inspiration to serve as the Boston Fed’s next president,” Professor Collins said. “Throughout my career, I have been driven by a commitment to leveraging research, education, and public service to improve lives. I look forward to helping the Bank and System pursue the Fed’s dual mandate from Congress – achieving price stability and maximum employment.”

Dr. Collins added that “I am also inspired by the portfolio of important and innovative work underway at the Boston Fed,” Collins said. “I am delighted with the opportunity to lead such a dynamic organization, engage with its talented staff, and work with its constituents – to understand their economic challenges and help explain the work of the Fed in the economy. It will also be a pleasure to return to Greater Boston and New England.”

GBN Daily Drop Podcast: Ann Lowe – Fashion Designer for Harlem, Hollywood and the White House (LISTEN)

by Lori Lakin Hutcherson (@lakinhutcherson)

Today’s GBN Daily Drop podcast is based on the Wednesday, February 16 entry in the “A Year of Good Black News” Page-A-Day®️ Calendar for 2022 about haute couture designer and entrepreneur Ann Lowe.

You can also follow or subscribe to the Good Black News Daily Drop Podcast through Apple Podcasts, Spotify, Google Podcasts, rss.com or create your own RSS Feed. Or just check it out every day here on the main website (transcript below):

FULL TRANSCRIPT:

Hey, this Lori Lakin Hutcherson, founder and editor in chief of goodblacknews.org, here to share with you a daily drop of Good Black News for Wednesday, February 16th, 2022, based on the “A Year of Good Black News Page-A-Day Calendar” published by Workman Publishing.

As New York’s Fashion Week for 2022 concludes, today we take a look at esteemed designer and dressmaker Ann Lowe.

In 1914, when Ann Lowe was sixteen years old, her mother, who was a seamstress, died suddenly. Though grieving, Lowe finished her mother’s last job—creating four ball gowns for the First Lady of Alabama and launching her career as a designer of haute couture.

Years later, although she received no credit for either, Lowe made both actress Olivia de Havilland’s distinctive flower-covered dress for the 1946 Academy Awards and Jacqueline Kennedy’s iconic wedding dress in 1953.

Her store, Ann Lowe’s Gowns, opened in Harlem in 1950, and in 1968, when she opened a second location, Lowe became the first Black woman to own a boutique on Madison Avenue.

To learn more about Ann Lowe’s life and career, read Something To Prove: A Biography of Ann Lowe America’s Forgotten Designer by Julia Faye Smith, check out her designs on the Fashion Institute of Technology’s website, the National First Ladies Library lecture on Lowe that’s on YouTube, as well as links to other sources provided in today’s show notes as well as in the episode’s full transcript posted on goodblacknews.org.

Other sources for Lowe:

This has been a daily drop of Good Black News, based on the “A Year of Good Black News Page-A-Day Calendar for 2022,” published by Workman Publishing, and available at workman.com, Amazon,Bookshop and other online retailers. Beats provided by freebeats.io and produced by White Hot.

For more Good Black News, check out goodblacknews.org or search and follow @goodblacknews anywhere on social.

(paid links)

GBN’s “A Year of Good Black News” Page-A-Day Calendar for 2022 Now Available for Pre-Order

by Lori Lakin Hutcherson, Good Black News Editor-in-Chief

This March in our Good Black News anniversary post, I mentioned GBN would be coming out with its first physical product this fall: a Page-A-Day® Calendar from Workman Publishing entitled A Year of Good Black News for 2022. Well, guess what – it’s fall!

A Year of Good Black News, written by yours truly, is filled with facts, history, bios, quotes, jokes and trivia in easy-to-read entries delivered on the daily.

The calendar’s official drop date is Tuesday, October 12, and if you pre-order at Workman.com using the code: GOODBLACKNEWS from now until December 31, you will receive 20% off.

A Year of Good Black News offers fun Black facts about inventors, entrepreneurs, musicians, comedians, historians, educators, athletes and entertainers, as well as info shared in fun fact categories like “Lemme Break It Down: Black Lexicon,” “We Got Game: Black Trivia,” “Get The Knowledge: Black Museums and Landmarks” and “You Know We Did That, Right?: Black Inventors.”

Here’s a sneak peek inside:

Although I’m biased because I wrote it, the A Year of Good Black News Page-A-Day 2022 calendar is an awesome way to get inspired every day by the good things Black people do (and have done) for centuries, but haven’t always been widely known or shared.

Well, no more! If this site is for you, this calendar is, too!

It’s also a great gift for family members, friends, teachers, kids and loved ones. Did I mention if you use the code: GOODBLACKNEWS at Workman.com, you get 20% off?

Or, if you prefer, you can also order from the retailers below:

Bookshop: https://www.bookshop.org/a/368/9781523514298

IndieBound: https://www.indiebound.org/book/9781523514298?aff=workmanpub

Barnes & Noble: https://www.barnesandnoble.com/s/9781523514298

Books-A-Million: http://www.booksamillion.com/p/9781523514298

Amazon: https://www.amazon.com/dp/1523514299?tag=workmanweb-20

Workman.com: https://www.workman.com/products/a-year-of-good-black-news-page-a-day-calendar-for-2022

Onward and upward –  hope you enjoy – and share!

Digital Healthcare Platform HUED Lands $1.6M in Funding from Serena Williams and Others

The digital health start-up HUED, founded in 2018 by Kimberly Wilson with the aim of connecting patients with Black and Latinx healthcare providers, recently raised $1.6 million in seed funding led by women venture capitalists.

According to thegrio.com, round participants included Serena Williams‘ Serena Ventures, Osage Venture Partners, Northwestern Mutual, Black Founders Matter, Gingerbread Capital, and angel investor and health industry leader, Halle Tecco.

To quote the grio.com:

“Embarking on such a bold mission to reimagine the healthcare system for communities of color is no easy feat,” said Wilson, Founder and CEO of HUED in a press release. “It’s incredible to have received the support of incredible investors, such as Female Founders Fund, to further our mission to empower and train healthcare workers on anti-racist practices, implicit bias, and providing culturally sensitive care for Black and Latinx populations.”

“We are thrilled to back Kimberly and her vision for HUED in making healthcare more equitable for millions of Black and Latinx patients,” said Anu Duggal, Founding Partner of Female Founders Fund. “She has built exciting traction with a strong team and we believe the HUED model will have a massive impact on healthcare outcomes in this country.”

HUED uses a patient’s insurance provider and region to match providers. The site also allows patients to access reviews about specific providers before making an appointment.

Wilson’s own 2017 healthcare scare inspired her to create HUED. When she ended up in the emergency room with complications related to fibroids, Wilson has stated that her mostly white male doctors “dismissed my pain.”

Through this funding round, grio.com reports, HUED will be able to add to its growing ranks of providers and train over 5,000 healthcare workers nationwide.

Read more: https://thegrio.com/2021/08/09/black-healthcare-app-gets-investment/

https://www.cnbc.com/2020/11/17/this-founder-created-a-platform-to-address-racial-bias-in-health-care.html

Global Superstar Rihanna’s Success in Music and Make Up Have Made Her a Billionaire

Thirty three year-old Barbados native Robyn Fenty, best known to the world as singing superstar Rihanna, through the success of her smash hits and cosmetics company Fenty Beauty, has officially become a billionaire.

According to Forbes, Rihanna is now worth $1.7 billion, which makes her the wealthiest woman musician on the planet.

Although Rihanna has ruled the global music charts with hits like “Umbrella,” “The Only Girl In the World,” “Diamonds,” and “Work,” the bulk of her assets come from Fenty Beauty ($1.4 billion) and her lingerie offshoot Savage x Fenty (approximately $270 million).

Forbes estimated that Rihanna owns about 30 percent of Savage x Fenty and about 50 percent of Fenty Beauty, which works to provide consumers with inclusive beauty products that work for a wide range of skin types and colors.

Rihanna has used her amassing wealth to support and create several charities, such as her Clara Lionel Foundation, which she founded in 2012 in honor of her grandparents.

CLF supports and funds education initiatives and emergency response to natural disasters, and advocates for policy and systems change to improve the quality of life for communities across the globe.

Read more: https://www.forbes.com/sites/maddieberg/2021/08/04/fentys-fortune-rihanna-is-now-officially-a-billionaire/?sh=1655f83b7c96

Films with Higher Percentages of Cast Diversity Earn Top Box Office Dollars in 2020 While Films with Lowest Diversity Earn the Least

by Lori Lakin Hutcherson (@lakinhutcherson)

According to UCLA’s annual Hollywood Diversity Report, U.S. audiences spent more money to see films comprised of diverse casts.

Although the COVID-19 pandemic disrupted movie releases in theaters for the majority of 2020, the UCLA report took that into consideration and tracked online and streaming movie releases as well. The data from those releases offer similar results — diversely-cast films generate more interest from audiences.

UCLA’s 2021 report states that in 2020, films with casts with at least 41% to 50% diversity took home the highest median gross at the box office, while films with casts less than 11% diversity performed the worst.

These films include the Will Smith/Martin Lawrence action comedy Bad Boys for Life, which was 2020’s top-earning film at the box office with $426.5 million; the No. 2 Tenet starring John David Washington, which grossed $362.9 million; Birds of Prey, which came in at No. 5 with $201.9 million; and Onward, which came in seventh with $141.9 million.

The UCLA report states that the new evidence from 2020 supports findings from previous reports in this series suggesting that America’s increasingly diverse audiences prefer diverse film content in the following ways:

  1. People of color accounted for the majority of opening weekend, domestic ticket sales for six of the top 10 films released in theaters in 2020 (ranked by global box office), as well as half of the tickets for a seventh top 10 film.
  2. Among the large number of top films released via streaming platforms in 2020 — largely due to the pandemic and theater closures — ratings for White, Black, Latinx and Asian households and viewers 18-49 were all highest for films featuring casts that were from 21 percent to 30 percent minority.
  3. Households of color accounted for a disproportionate share of the households viewing eight of the top 10 films released via streaming platforms in 2020, ranked by total household ratings, and approached proportionate representation for the other two.
  4.  In 2020, total social media interactions for films released via streaming platforms peaked for films with casts that were from 21 percent to 30 percent minority.
  5. In 2020, films with casts that were from 41 percent to 50 percent minority enjoyed the highest median global box office receipts, while films with casts that were less than 11 percent minority were the poorest performers.
  6. In 2020, seven of the top 10 theatrical films for Asian and Black moviegoers, ranked by each group’s share of opening weekend box office, featured casts that were over 30 percent minority. Four of the top 10 theatrical films for Latinx moviegoers and just one of the top 10 theatrical films for White moviegoers had casts that exceeded 30 percent minority.
  7. Seven of the top 10 streaming films ranked by the Asian share and Black share of total households had casts that were over 30 percent minority in 2020. Among the top 10 films ranked by Latinx and White household share, six had casts that exceeded the 30 percent minority threshold.

The report also notes that while gains have been made in certain areas in regards to casting, director and writer representation for people of color still has a ways to go, with percentages for both in 2020 were still over 74% white.

To read the full report, click here.