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Minority Business Accelerator: closing the racial wealth gap through strategic investment into Black-owned employer business as redefined approach to reparations

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Minority Business Accelerator: closing the racial wealth gap through strategic investment into Black-owned employer business as redefined approach to reparations

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Content 1
Minority Business Accelerator: Closing the Racial Wealth Gap Through Strategic Investment
into Black-Owned Employer Business as Redefined Approach to Reparations
Quiana M. Shamsid-Deen
Capstone Submitted in Partial Fulfillment of the
Requirements for the Degree
Doctor of Social Work
University of Southern California
Suzanne Dworak-Peck School of Social Work
SOWK 722
Dr. Renee Smith-Maddox
August 2021

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TABLE OF CONTENTS

ACKNOWLEDGEMENTS .............................................................................................................4
EXECUTIVE SUMMARY .............................................................................................................6
RACIAL WEALTH GAPS FOR BLACK HOUSEHOLDS...........................................................8
ENTREPRENEURIAL RACIAL WEALTH GAP .........................................................................9
PUBLIC-PRIVATE SOLUTIONS FOR THE RACIAL WEALTH GAP.................................... 11
REPARATIONS ............................................................................................................................ 12
THE MINORITY BUSINESS ACCELERATOR (M.B.A.) PROGRAM .................................... 12
FRAMEWORK OF THE M.B.A.PROGRAM .............................................................................. 15
DESIGN OF THE M.B.A. PROGRAM ........................................................................................ 16
M.B.A. OUTREACH, ADVOCACY, AND ENGAGEMENT..................................................... 17
THE M.B.A PROTOTYPE............................................................................................................ 17
THE M.B.A. CALL-TO-ACTION PLAN ..................................................................................... 19
THE M.B.A. APPLICATION PROCESS ..................................................................................... 26
PROJECT STRUCTURE, METHODOLOGY, AND ACTION COMPONENTS ...................... 29
CONCLUSIONS, ACTION, AND IMPLICATIONS................................................................... 30
REFERENCES .............................................................................................................................. 32
APPENDIX A: LOGIC MODEL .................................................................................................. 38
APPENDIX B: SCORE BUSINESS NEEDS ASSESSMENT ..................................................... 39
APPENDIX C: APPLICATION .................................................................................................... 40
APPENDIX D: DONOR REQUEST LETTER ............................................................................. 43
APPENDIX E: SELECTION CRITERIA ..................................................................................... 44

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Table of Figures
Figure 1: The M.B.A. Circular Flow Model for the Black Economy ........................................... 14
Figure 2: M.B.A. Prototype .......................................................................................................... 18
Figure 3: Social Media Calendar for M.B.A. Call-to-Action Campaign ...................................... 20
Figure 4: Racial Wealth Gap Infographic (Supreme Family Foundation) ................................... 21
Figure 5:GANNT Chart for M.B.A. Implementation Process ...................................................... 24

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Acknowledgements
First, I would like to acknowledge my advisor Dr. Renee Smith-Maddox. Dr. Smith-
Maddox, you are the reason for my ability to get through this program and provide the best work
possible. You refused to accept mediocrity from me and pushed me to not only produce the best
work possible, but to be my best self. I thank you. Dr. Jane James and Dr. Annalisa Enrile, you
all taught me to be confident about my work. Thank you for your supervision and guidance. To
my committee members: Dr. Juan Carlos Araque and Dr. Harry Hunter, thank you for your
feedback, guidance, and the knowledge that you willingly shared with me. Your feedback was an
intricate part of the development of this work. To my advisory group: Dr. Yvette Williams, Dr.
Tamora Callands, Rev. Dr. Ivan S. Pitts, Rev. Dionne Boissiere, Shawn Rochester, Delores
Rochester, Commissioner Larry Johnson, and Omar Ali. All of you, were willing to help my
brainstorm, provided feedback, edits and ideas to help develop this project. Without you, this
project would not exist. Thank you for your mentorship and for being the foundation that drove
this project. I have to acknowledge my support system: Dr. April Duncan and Dr. Marsades
Caesar. You both were my accountability partners throughout this entire process. April, you
called me out when you knew I could do more. Marsades, you elevated my ability to refine and
being clear in what my message was. Both of you were major players in the reasons why I was
able to finish this program strong. We have now moved from just cohorts to friends and
colleagues for life. Thank you. To my parents: Jacqueline Rochester, Leonard Hawkins,
Charlene Scott, and Michael Scott. Thank you for being my cheerleaders and number one fans
throughout this journey. My amazing husband, Waleed Shamsid-Deen. You deserve to have your
name on this work with me. You are my inspiration, my contributor, my anchor, my partner, my
tutor, my advisor, and my calm. I would have never made it through this journey without your
support, love, and guidance. Special acknowledgement to my children and bonus children:

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Na’im, Layla, Siraj, Micah & Aya. I leave something for you to be proud of. And lastly, I
dedicate this to my angel baby, Nya Iman Shamsid-Deen. I did not realize it until now, but
everything that I do, your spirit pushes me through. Thank you.

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Executive Summary
Prosperity Now, a non-profit organization committed to ensuring financial prosperity for
people of color, conducted a study on the current wealth disparities of Black Americans. From its
2017 study, Prosperity Now reported that Black Americans would be at zero net wealth by 2053
(Asante-Muhammad et al., 2017). Additionally, it will take 228 years for Black Americans to
accumulate the wealth of White Americans (Asante-Muhammad et al., 2017; Founders of Color,
2020). Historically, Black Americans have not had the resources available to acquire wealth on
the same level as White Americans. The ability of Black households to transfer financial or
wealth assets across generations has been a consistent difficulty within the Black community in
America. One organization, the American Academy of Social Work and Social Welfare
(AASWSW), researched disparities between the rich and poor with two of its initiatives, The
Grand Challenge of Build Financial Capability and Assets For All and The Grand Challenge of
Reversing Extreme Inequality (American Academy of Social Work & Social Welfare, 2021).
Both initiatives promote income equality and generation-focused activities such as investments
in children through child-saving accounts. Additionally, the Grand Challenge of Reduce Extreme
Economic Inequality focuses on various strategies such as earning increases for low-skilled jobs,
expanding earned income tax credits (EITC), expanding active employment creation, and
creating policies of inclusion and progressive wealth-building (American Academy of Social
Work & Social Welfare, 2021).
The history of enslavement, segregation, and ongoing systems of racially
discriminatory policies and infrastructures has placed considerable roadblocks in the path to
wealth for Black Americans (Beckert & Rockman, 2016). Furthermore, the destruction of
Black economic communities (e.g., by acts of violence or discriminatory policies) have long

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impacted their ability to accumulate generational wealth and have contributed to persistent
poverty in their communities (Oliver & Shapiro, 2016; Messer, Shriver, & Adams, 2018;
Darity & Mullen, 2020).
On another note, the racial wealth gap between Black and White Americans due to
the racialized policies and structures on current economic systems have created barriers to
wealth accumulation (Shapiro, Meschede, & Osoro, 2013; Oliver & Shapiro, 2016).
To this point, Darity & Mullen (2020) posit that racism in political and economic systems
must be acknowledged:
It is important to acknowledge that whites control political and economic power in this
country. No shift in the power relationships will be possible unless the society takes
action to transform the structural conditions to make racial equality a real possibility (p.
31).
In closing, without a clear plan for addressing structural racism and facilitating economic
empowerment, Black Americans will continue to struggle with accumulating and transferring
wealth to future generations. More details about the racial wealth gap as it impacts Black
household wealth and Black entrepreneurs will be discussed in the section, “Historical Context
of Economic Inequality in Black Communities.”
Structural racism, a form of racism in which social, political, and cultural systems
disadvantage certain racial groups-namely, Black Americans- has contributed to inequalities in
economic status of Black Americans (Solomon, Maxwell, and Castro, 2019). In many cases,
structural racism as sabotage against Black-owned businesses has crippled the capacity of Black
Americans to accumulate wealth in their communities. The Tulsa Race Massacre of 1921, an

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example of one of the most vicious assaults against Black owned businesses and Black wealth
accumulation, is discussed in the next sections.
In 1905, Ottawa Gurley, a wealthy Black landowner, purchased 40 acres of land in
Greenwood, Oklahoma. Gurley sublet residential and commercial lots to Blacks, which led to the
growth of Black ownership, community economics, wealth, and affluence within the Greenwood
district of Tulsa (Parshina-Kottas & Singhvi, 2021). This district was also known as “The Black
Wall Street” (Parshina-Kottas & Singhvi, 2021). On May 31, 1921, mobs of White residents took
part in an 18-hour massacre that killed approximately 200 Black residents and 50 White
residents. The entire town of Greenwood was destroyed, and about 10,000 residents were
homeless. Shawn Rochester, author of The Black Tax, reported that the total loss of property was
estimated at $2 million (Rochester, 2018). The loss of wealth from the Greenwood economy
would be the equivalent of $5 million in value in today’s dollars (Rochester, 2018). Although
survivors filed to seek reparations as early as June 1921, courts consistently refused their case
based on the statute of limitations. As recently as 2005, the U.S. Supreme Court declined to hear
their appeals for reparations. As a result, the survivors of the Tulsa Race Massacre never
received restitution and their financial and asset losses were never recouped. In closing, the Tulsa
Race Massacre illustrates of how systemic racism can destroy the potential for wealth
accumulation and perpetuate economic distress in Black communities.
Racial Wealth Gaps for Black Households
When examining the racial wealth gap at the household level, Black households are
severely disadvantaged in terms of net worth and their ability to accumulate wealth.
Brown (2021) argues that approximately 89 years of segregation has continued to lock out
Blacks from wealth accumulation through Jim Crow laws. The effects of these government-

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sanctioned actions against Black communities have resulted in poor outcomes in the Black
household net worth. According to a 2016 Federal Reserve Survey of Consumer Finances, "The
median black household net worth ($17,600) is only one-tenth of white household's net worth
($171,000)" (Bricker et al., 2017). Darity et al., (2018) estimated that it will take a period of 228
years for Black household wealth to catch up with the wealth of white households. Lastly,
Hudson (2018) and Darity et al.,(2018) report that blacks will be at zero net wealth by 2053. In
summary, Black household wealth is in a precarious state and the racial wealth gap between
blacks and whites will continue to grow exponentially (Oliver & Shapiro, 2019).
Entrepreneurial Racial Wealth Gap
Like the racial wealth gap for households, the racial wealth gap between Black and White
entrepreneurs shows significant disparities. White household wealth is an important source of
initial funding for white entrepreneurs (Peterson & Mann, 2020.) However, households of color
typically do not have the financial resources or financial stability of white households (Peterson
& Mann, 2020). To this point, Peterson & Mann (2020) found that white household wealth was
eight times greater than Black household wealth for nearly 30 years between 1989 to 2017.
Founders of Color, a national organization dedicated to minority small business growth, reported
on the challenges entrepreneurs of color face when attempting to access capital outside of their
immediate networks:
Entrepreneurs receive less than 1% of venture capital and given that whites enter the
world with ten times the inherited wealth of blacks and about eight times the inherited
wealth of Latinos, very few can sufficiently start-up a business or access a "friends and
family" investment (Founders of Color, 2020, p. 8).

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Along the same lines, Currier (2016) found that households of color often have insufficient
savings which place them in precarious situations if they experience job loss or medical
emergency. To this point, Currier (2016) remarked, “A quarter of Black households would have
less than $5 if they liquidated all of their financial assets,” Thus, turning to family and friends for
loans or investment is not a feasible option for entrepreneurs of color, and more specifically, for
Black entrepreneurs (Currier, 2016).
Regarding entrepreneurial finances, Black entrepreneurs are not experiencing the same
level of growth and access to capital as white entrepreneurs. According to the U.S. Census
Bureau Survey of Business Owners, "White-led firms generate ten times the revenue of black-led
firms" (U.S. Census Bureau, 2018). Limited access to capital is the main detriment to the
sustainability of Black businesses. Arora (2020) argues, "Capital is the lifeblood of any small
business, and infusions of investment money make them healthier" (para 17). Most notably,
access to venture capital is a significant challenge for minorities as a whole and Black
entrepreneurs. Some experts have identified disparities in the business equity of companies
between Black and white entrepreneurs. For example, Joyner and McLymore (2020) reported
that Black entrepreneurs only hold on average 25% of the equity in their companies when
compared to white entrepreneurs. This disparity in equity means that venture capital firms, which
typically provide funding in exchange for an equity stake, will less likely fund Black
entrepreneurs. On the other hand, some experts point to lack of prioritization of minority
entrepreneurs by venture capital community. Beasley (2020) argues that minority entrepreneurs
have not been prioritized in the venture capital community. Still, other experts point to structural
racism and discriminatory financial practices as the culprits for the limited funding of Black
entrepreneurs. For example, Applewhite (2018) identified bias toward startups operated by white

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males in the venture capital ecosystem. Regarding representation and decision-making power,
Davies (2020) reported that 1% of US venture capital-backed firms that are Black have poor
representation and have limited to no decision-making roles in venture companies. In summary,
Black entrepreneurs are not only at a disadvantage when it comes to acquiring financial support
from family and friends, but they are facing an uneven playing field when seeking financial
support from the venture capital community.
Public-Private Solutions for the Racial Wealth Gap
The racial wealth gap represents another example of the impact of structural racism on
wealth generation and accumulation in the Black community. Specifically, the racial wealth
between Black and White households may be described as “…the effects of accumulated
inequality and discrimination that may be traced to the nation’s inception” (McIntosh et al.,2020,
para 1). Recent conversations from news outlets point to concerns from the public and private
sectors about racial wealth disparities. For example, John Hope Bryant, Founder of Operation
Hope, a nonprofit organization dedicated to expanding economic opportunity for all, has spoken
about the racial wealth gap on media outlets such as CNN and CNBC (Bobrow, 2020). As an
objective for Operation Hope, Bryant calls to close the racial wealth gap by instituting financial
literacy and credit repair. Bryant has also created a bridge between his nonprofit organization
and the private sector by forging partnerships with major corporations such as Delta Airlines.
Delta Airlines partnered with Operation Hope to develop a financial literacy program called
Hope in the Workplace for their employees (Ideas, 2021). The partnership between Operation
Hope and Delta Airlines exemplifies how public and private organizations are needed to create
solutions for economic equality and providing financial assets opportunities for all.

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Reparations
The subject of reparations as a remedy to address systemic and institutionalized racism as
well as the racial wealth divide has re-emerged amongst mainstream debates. In 2020, a
reparations bill passed the California Assembly. Sandler (2020) reported that this bill will
assemble a task force to study how reparations will be distributed and to whom. From an article
in Newsweek, Martin (2020) reported that presidential candidate Joseph Biden was agreeable to
paying Blacks and Native Americans reparations if studies confirmed the feasibility of cash
payments. More details about incorporating reparations into strategies that promote wealth
generation and accumulation will be discussed in the section, “The Minority Business
Accelerator (M.B.A.) Program.”
The Minority Business Accelerator (M.B.A.) Program
The Minority Business Accelerator (M.B.A.) offers an innovative reparations-inspired
solution to wealth generation for the Black community by addressing the legacy of economic
hurdles in the Black community from structural racism as well as heeding the call for the racial
economic equality. Rather than focusing exclusively on homeownership opportunities for wealth
creation (the value of which may take up to 40 years), Brown (2021) recommends investing in
Black businesses for immediate impacts. Thus, the objective of the M.B.A. is to scale up Black-
owned companies to increase the creation of multiple companies, thus creating more jobs and
providing an opportunity to increase wages within the Black community. Additionally, the
M.B.A. serves as a pilot solution for the current capital gap between Black-owned businesses

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and White-led firms as a form of atonement and reparations. More details about the program's
atonement and reparations aspects, its economic model, and the goal of the M.B.A. program are
discussed in the following sections.
The Minority Business Acceleration (M.B.A.) is grounded in the atonement model
introduced by Brooks (2019). According to Brooks (2019), simply creating programs without an
official apology for racial injustices fails to demonstrate new moral aspirations. Accountability
and acknowledgment are imperative for true healing and change. However, atonement is apology
and restitution. Atonement makes the apology believable and ensures that the damages done by
the injustice are not likely to be repeated (Brooks, 2019).
The M.B.A. advocates for atonement and provides a microcosm solution through
investment in the Black economy using the circular flow of money model. The circular flow of
money is the model that impacts the current workings of the U.S. economy (Gallego, 2017;
Mendoza et al., 2017). According to Denada Ramnishta, SVP of Partner & Lender Strategy at
Lendio, "Small businesses are the lifeblood of the economy" (Ramnishta, 2020). In alignment
with Ramnistha (2020), the M.B.A upholds Black small businesses as the lifeblood of the Black
economy. The circular flow model is embedded with an ecosystem of banks (i.e., market for
goods and services), Black small businesses (i.e., firms), and households (Figure 1).

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Figure 1: The M.B.A. Circular Flow Model for the Black Economy

As indicated by the red arrows, the market for factors of production flow into firms, resulting in
a market of goods and services for households. It is important to note that, as indicated by the
green arrows, the flow of money is contained within the ecosystem. This containment of money
within the ecosystem represents a strategic approach for building, accumulating, and investing
wealth in the Black community. The following section discusses how the M.B.A. applies the
circular flow of the money model to its pilot program for the Atlanta metro area.
The M.B.A. applies the circular flow model of money to Black-owned companies in
Metro Atlanta that have at least one employee besides the owner, which make up approximately
2300 businesses (Rice et al., 2017). Money from corporations to individuals through living
wages enables individuals to invest more and stream money into various industries and Black
financial institutions. This money, referred to as the "Black dollar," begins to circulate within the
Black community and provides value to the economy through growth and wealth creation
opportunities. Additionally, through advocacy of tax incentives for both business owners in the
program and employees, more revenue comes to the business, business owners, and households
(Rice et al., 2017).

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To initiate the distribution of financial capital, one of previously discussed components
for a thriving and sustainable business, the M.B.A will select businesses owners who apply for
the grant through the Supreme Family Foundation. Grant recipients must open an account with a
Black financial institution (e.g., Citizen Trust Bank). Grant funds will be deposited into the
Black financial institution and distributed to grant recipients in four installments over a year.
As another approach to address capital needs in Black communities, the M.B.A. identifies
the following areas that must be addressed to alleviate the racial wealth gap: 1) lack of bank
loans for Black businesses, and 2) limited venture capital resources for Black-owned companies.
To meet these needs of Black entrepreneurs, M.B.A. will initiate the following activities: 1) fund
Black-owned banks, 2) provide operating capital, 3) provide consulting services to Black-owned
businesses, 4) promote advocacy of Black-owned businesses, and 5) facilitate the payment of
living wages to employees from Black owned businesses.
Framework of the M.B.A Program
The M.B.A. utilizes the concept of Collective Impact with Results-Based Accountability
as the framework for implementation (Epps, 2016). There are five conditions for Collective
Impact: 1) a common agenda, 2) shared measurement systems, 3) mutually reinforcing activities,
4) continuous communication, and 5) backbone support organization (Epps, 2016). These
components are embedded in implementing the M.B.A. pilot program (Walzer & Weaver, 2018).
The Collective Impact with Results-Based Accountability, the framework of the M.B.A, consists
of multiple stakeholders working together to create collective change. The overarching goal of
the M.B.A. is for all stakeholders to have a shared plan to eradicate racial injustices and to close
the racial wealth gap. To this end, the success of the M.B.A. is contingent upon successful
collaborative partnerships with key stakeholders such as philanthropists, corporations, local and

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federal governments, national business associations, business schools, religious institutions,
banking institutions, community leaders, and business owners. Engagement of community
members in the sustainability of the M.B.A. is also critical to the Collective Impact Framework
(Walzer & Weaver, 2018). To this end, the inclusion of community stakeholders further supports
the collective impact initiative of evolving goals, communication, and partnership to make the
most significant impact (Walzer & Weaver, 2018). More information about community
engagement is discussed in the section, “M.B.A. Outreach, Advocacy, and Engagement.”

Design of the M.B.A. Program
An integral part of designing the M.B.A. program was acquiring input from Atlanta
area business owners. To this end, business owners Omar Ali of A.I.M. Steel, Adrienne
Lance Lucas of Lance Venture Capital Group, Sharlinda Parker of Tula 2 Salon, and Corey
Hines, manager of Supreme Burger were consulted on how to best design the M.B.A. for
the benefit of Black entrepreneurs and their employees. From interviews with these business
owners, it was determined that the following four components were needed to create
thriving and sustainable businesses: 1) Financial Capital, 2) Human Capital (i.e., board,
advisors, mentors, executives, and employees), 3) Technology, and 4) Marketing. The
Strategic Financial Plan (SFP) includes steps to recruit and select business owners as grant
recipients in the MBA program. Lastly, the SFP includes a collaborative process of
consultation with grant recipients and will direct and distribute grant funding to support the
four components. More details about the SFP as it relates to the M.B.A program will be
discussed in the section, “M.B.A. Application Process.”

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To assist business owners with developing the four components, the M.B.A.
program includes consulting services for potential grant awardees. The criteria for selecting
consultants are as follows: 1) must have owned a business for 15 years or more; 2) must
have operated a company for 10 years or more; 3) Must have had a business with five or
more employees; and 4) raised capital, equity, or debt of $2 million or above. M.B.A.
consultants and advisors are crucial to providing governance bodies and strategies and help
co-create and implement solutions grounded in lived experiences.

M.B.A. Outreach, Advocacy, and Engagement
Through collective impact, M.B.A. will utilize social media and grassroots
advocacy to launch a campaign to promote awareness of the racial wealth gap and the
proposed solution of the M.B.A. pilot program for Black-owned businesses. Various
communication platforms, such as infographics, short-form videos, brochures and email
communications, as well as historical data about the current economic status of Black
Americans will make up the print and digital content for distribution. Through the advocacy
campaign, collaborative partnerships will build through awareness, social media
engagement, and grassroots phone banking for partners, volunteers, business consultants,
brand ambassadors, and influencers.
The M.B.A Prototype
The M.B.A. prototype is an animated diagram that depicts the course of the program. An
animated diagram is an ideal prototype for a pilot program because it shows the flow of program
components and activities as successive, interrelated steps (Figure 2). Additionally, the prototype

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uses colorful visuals that engage the audience and demonstrate how the program works. Business
owners who apply for program must meet the following criteria:
• Must be 100% Black-owned businesses.
• Must have more than one employee.
• Must have Articles of Incorporation with three years of incorporation.
• Must have a business plan.
• Applicant’s business must be registered in Metro Atlanta, Georgia,

The program begins with the application process. The application requires basic
information such as the applicant’s company name, Tax Identification Number (TIN), and
company demographics (e.g., number of employees, operational costs, etc.). The application also
includes questions about the applicant’s plan for the grant funds, current technology, marketing
strategy, and how they will allocate the funds to ensure employees receive living wages.

Figure 2:M.B.A. Prototype

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Applicants must upload a business plan and a 60-second pitch video that explains why the
company will be a good fit for the M.B.A. grant and how the funds will position the company to
transition from sustaining to a thriving business.
Since the M.B.A. is in the early stages of development, it has not yet been tested in the
market. The prototype has been presented to observers for feedback and readability. Observers
consisted of Ph.D. professors, doctoral students, business owners, potential funders, and family
members. Observers stated that the diagram was visually engaging, easy to understand, and easy
to follow. The M.B.A. prototype will serve as a communication and branding tool to begin the
conversation and call-to-action for funding. Additionally, the M.B.A. prototype will serve as a
digital introduction for potential partners, consultants, lobbyists, and funders. As a promising
development, the M.B.A. prototype has been utilized as a part of a strategic plan presented to
Governor Brian P. Kemp of Georgia to address the economic state of the Black community in
the Metro Atlanta area.
The M.B.A. Call-to-Action Plan
The call-to-action for the M.B.A. program will promote advocacy campaign through
grassroots and social media campaigning to bring awareness and to encourage Atlanta area
municipal governments to support the program. Social media movements have become a
trend in mobilizing the masses and bringing awareness to social injustices. Specifically, as
to in-person mobilization has been curtailed due to the COVID19 pandemic, social media is
more prevalent to social engagement now more than ever (Otazo, 2021). By tapping into the
mobilization potential of social media, the M.B.A. social media campaign will maintain a
unified objective to call-to-action for the benefit of Black entrepreneurs and the economic
status of the Black community.

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To assist with organizing and creating a regular schedule of social media activity,
the M.B.A program will utilize the Hootsuite social media calendar tool will be utilized to
automate and organize social media content twice a day through Facebook, Instagram, and
Twitter (see Figure 3). Social media accounts will be managed by M.B.A. intern, Na’Im
Shamsid-Deen. The M.B.A. program has hired Hannad Cassimere as the Content Creator
Manager. Cassimere will manage a team that consists of a website developer, a graphic
designer, photographer, and videographer. The team, as supervised by the Content Creator
Manager, will work collaboratively with the Social Media Manager to create weekly
content which will posted through Hootsuite and stored in Google Doc folders.
Figure 3:Social Media Calendar for M.B.A. Call-to-Action Campaign

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To boost the vitality of the call-to-action campaign, the M.B.A. program will partner with
celebrity influencers and trendsetters to increase awareness and engagement. Currently, fees
for potential influencers and brand ambassadors are being collected before the initial push
for solicitation. Through a potential strategic partnership with United Way to share human
resources, volunteers can manage the social media campaign and content with incentives
such as gift certificates and an end-of-campaign office party.
As presented in Figure 3, a social media calendar displays content that has been curated
specifically for the M.B.A. advocacy campaign, such as infographic. Up to ten influencers will
share social media content on their social media pages. Additionally, M.B.A. has a social media
presence that will share content up two times per day and uploaded every eight hours.

Figure 4: Racial Wealth Gap Infographic (Supreme Family Foundation)

Stakeholders that are key to this proposal consist of black entrepreneurs, politicians,
experts, influencers, and brand ambassadors. For example, Kevin Brown works for J.P.

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Morgan Chase Bank as a Private Client Advisor. Mr. Brown can create opportunities for
partnership with Chase Banks's new initiative, Advancing Black Pathways (ABP). ABP
looks to foster economic empowerment and opportunities within the black community
through wealth building, education, and executive career opportunities (J.P. Morgan Chase,
2020). Currently, ABP has not launched programming. This places M.B.A. in a unique
position to partner with ABP to funnel consultancy services through their bank and
incentivize Chase to consider allocations that will support tax incentives for Black
entrepreneurs. Shawn Rochester, author of The Black Tax, will provide insight into
solutions for addressing the racial wealth divide. Omar Ali is a second-generation business
owner of A.I.M. Steel, a steel fabrication company. Through the personal interview, Ali has
political connections and works closely with elected officials to eradicate the capital gap
between Black and White led firms. President Cynthia Day of Citizens Trust Bank has been
recognized as direct contact within a financial institution that streamlines business account
applications for recipients, prepares to receive the recipient's deposits, and advises on how
additional deposits impact services to the community. Commissioner Larry Johnson serves
District 3 of DeKalb County, Georgia. Commissioner Johnson serves as a political liaison
who will guide legislation development, policy and foster political relationships within
Metro Atlanta. Lastly, Congressman Hank Johnson with the U.S. House of Representatives
for the fourth congressional district is a direct contact to pursue service as a political liaison
to advocate for the government to allocate the funding or influencing tax incentives for the
M.B.A. program.
M.B.A.'s fundraising plan not only includes pursuing government but also includes
the pursuit of a public-private partnership. Netflix announced that the company would move

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$100 million in deposits to Black banking institutions to allow them to lend more money to
the Black community (Merced, 2020). Based on the financial contribution from Netflix and
the current climate of atonement from several large corporations, it is possible to monetize
this momentum and raise funds through corporate and government dollars to fund M.B.A.
The M.B.A. grant will be like that of Living Cities, an organization that combines funds
from corporate, financial institutions, and governments to infuse dollars into initiatives that
eradicate America's racial income and wealth gaps.
The M.B.A. grant program is a microcosm solution to systemic racism. Systemic racism
is a complex issue that will take various solutions working at the same time. Therefore, this
pathway to repairing the impact of systemic racism on Black Americans' wealth and asset
building will take different implementation strategies working together for the program's
success. However, we will focus on the development of stakeholder interrelationships by
building a coalition, identifying partners, and preparing champions, and involving the executive
board. Additionally, we will focus on engaging consumers through mass media, specifically
social media, for an advocacy campaign to drive awareness and engagement M.B.A.'s process
for implementation has been documented utilizing a GANTT chart (See Figure 5). The
breakdown of phases following the GANTT chart includes Exploration, Preparation,
Implementation, and Sustainability.

24

Figure 5: GANNT Chart for M.B.A. Implementation Process
The development of stakeholder interrelationships will build relationships through
partnerships with celebrities, banking institutions, business owners, business associations,
elected officials, and corporations. Through those relationships, champions (i.e., brand
ambassadors) will be selected based on their level of influence in their perspective industries to
advocate for the grant program and bring awareness to the current racial wealth gap. The
foundation's executive board that houses the grant will be instrumental in making the final
decision about the entire program, including potential grantees.
During the exploration phase of M.B.A., the focus will be on identifying key influencers
and partnerships who can align with the grant program's mission. Influencer identification has
begun as of May 1, 2021. Influencers and celebrities will be solidified by August 1, 2021, to

25
serve as brand ambassadors and partners for M.B.A. Influencers such as recording artist T.I.,
Killer Mike, and Mega Pastor Jamal Bryant to discuss the need for brand ambassadorship for the
advocacy campaign to bring awareness to M.B.A. and reach high net worth individuals for
funding. Additionally, within the exploration phase, the identification of elected officials is
imperative. Elected officials will present the case for a reparations-inspired program based on
other cities that have enacted reparations. Evanston, Illinois, is a city that recently agreed to pay
reparations through a two percent tax on marijuana, which was recently legalized in the state
(City of Evanston, 2019). By presenting evidence of cities not considering reparations, we hope
to appeal to elected officials committed to addressing Black business owners' economic
disparities. Lastly, during this phase, we will identify successful Black-business owners who
assess Black entrepreneurs' needs. Business assessments will further inform our preparation by
addressing the requirements of those who will receive the grant. Business mentors will be
identified, and a list of Black banks will be compiled during this phase.
The preparation phase will serve as the content phase for the M.B.A. grant program. The
preparation phase has begun as of May 3, 2021, with completion date set for August 31, 2021.
Budgets for celebrities and influencers are negotiated during this phase. Additionally, the M.B.A.
social media accounts will operate from the social media accounts of Supreme Family
Foundation. Social media content such as graphic data pictures for Instagram, statistics for
Twitter, and Facebook “|for the advocacy campaign will be reviewed and approved. All
documents are created and approved by the board of directors for the implementation phase.
Forms will include the SCORE Business Needs Assessment, and Consultancy Interest Form (See
Appendix C). Finally, all partners (i.e., business consultants representing various industries) will
serve the selection committee as we move forward with implementation.

26
The implementation phase is the official launch of the social media advocacy campaign
and grant announcement for fundraising. Additionally, the landing page for M.B.A. will go live
on July 8, 2021. All social media content will be loaded into an automated social media calendar
hosted by HootSuite, which will schedule social media posts for distribution every eight hours to
all social media accounts. Additionally, social media content includes personalized messages
from brand ambassadors and influencers. Donor letters, which is still under review by the board,
will be distributed via email to all identified donors such as Ford Foundation, Living Cities,
Google, Home Depot, Coca-Cola Foundation, J.P. Morgan Chase, and Citigroup to begin
fundraising through foundations, corporations, and private donors (See Appendix D). The
effectiveness of the social media campaign will be measured by monitor the following: 1)
awareness-how many followers are on each social media platform; 2) engagement- metrics
showing how followers interact with the content on the social media platforms), 3) conversion-
the effectiveness of social media engagement in creating awareness and attracting donations;
and 4) consumers- how active followers feel and think about the brand of “Fund the Flow.” More
information about the “Fund the Flow” brand is provided in the “Project Structure, Methodology,
and Action Components” section.
The M.B.A. Application Process
The application for Black-owned businesses will be launched on the Supreme Family
Foundation website. The selection committee reviews applications and awardees are selected
during implementation. Each recipient will be paired with a volunteer business consultant within
their industry for strategic planning. During the pilot stage of M.B.A., only four sectors are
eligible for the grant program: Restaurants, Beauty, Health & Wellness, and Education. Business
consultants will apply through the Supreme Family Foundation website. Once a grantee has been

27
selected, their SCORE Business Needs Assessment will be reviewed by M.B.A. consultants to
influence the collaborative development of a Strategic Financial Plan. The SCORE Business
Needs Assessment will serve as a tool for guidance on the needs of the business owners and
influence the development of the Strategic Financial Plan (Business Needs Assessment, 2019).
The Strategic Financial Plan (SFP) is crucial to sustainability for the business. The SFP
helps to govern plans and layout steps towards financial objectives for the company and will
focus on the four elements for funding: Financial Capital, Human Capital (including providing
living wages to employees), Technology, and Marketing. Each component will be unique and
specific to the needs of each recipient, which will be assessed from their business plan, business
needs assessment, (B.N.A.), and current operating budget. The SFP process is estimated to take
up to three weeks. M.B.A. consultants will hold 1-hour sessions twice a week for three weeks to
work on the SFP with the grant awardees. Upon completion, the disbursement of the first
installment will be directly deposited into the recipients' accounts. The account must be with a
Black financial institution of the awardee's choice. Grant funds will be disbursed in four
installments every three months after the review of mandates maintenance. Living wages are
being provided to employees and banking continues with black financial institutions. If mandates
are not adhered to, the grantee forfeits the remaining balance of the grant.
The program will focus on monitoring the Key Performance Indicators and
diversification of funding sources for sustainment. Additionally, data pulled from tax returns,
payroll reports, and bank deposits will determine if the business and employees' financial worth
increases or decreases. Based on the advocacy campaign and program's performance, a blueprint
will be created for duplication in other urban cities. The M.B.A. program seeks to create wealth
accumulation opportunities for Black-owned businesses and provides living wages for more

28
Blacks employed through the Black-owned company. Therefore, the goal is to measure revenue
increase, income increase, number of employees making living wages, jobs created, and
increased deposits within Black banks.
Black-owned businesses with more than one employee aside from of the owner will be
the sample. Ninety-five percent of black-owned businesses are sole proprietors, which means the
owner is the sole employee. For the sake of measurability, this program will focus on 4.6% of
Black-owned businesses that have employees with the goal of expanding after the
implementation of Phase 1. There is an application process for this program. The application will
state the mandates for all grant recipients once they agree to participate in the program and
receive the grant funds. Therefore, the convenience sample will be voluntary and consent to
participation before the disbursement of funds.
To facilitate job creation, job data will be pulled from the Department of Labor to assess
if there has been an increase of Metro Atlanta jobs amongst Black Americans employed with
Black-owned businesses. Payroll reports will be pulled from all recipients to confirm living
wages to all employees. Tax returns will report business and personal revenue increases or
decreases for all recipients in the program. Lastly, Black financial institutions will provide the
number of deposits received since the first grant was dispersed. All measurements will be
monitored after a year of implementation and integration into an excel spreadsheet for reporting.
The M.B.A. grant program will collect quantitative and qualitative data to report
performance and impact. We will track the number of applicants through online grant
submissions. The number of businesses that receive grants and how much each company
received will be tracked through a spreadsheet for budgetary purposes and reporting to the board
bi-monthly. Eligible recipients must score at least 90% on the selection criteria (See Appendix

29
E). Selection criteria will also be included in the data collection. All recipients' funds will be
directly deposited into a black financial institution. We will also track the number of deposits
made to Black banks yearly. Lastly, a Year-Impact Survey will be distributed through email to
all grantees after of year of grant distribution. The Survey will assess the impact of the program
from the perspective of the user. At the end of the year, each recipient will provide their business
and personal tax returns to assess the revenue increase or decrease since receiving funds.
Included with the tax returns will be a line-item budget to show that living wages were provided.
Payroll reports will also be pulled to verify living wages are being provided to employees every
three months and current bank statements to show that the business continues to bank with a
black financial institution. If mandates are not being met, the next installment of the grant will be
canceled, and the company will be disqualified from the program. Lastly, we will measure Key
Performance Indicators of the advocacy campaign through social media metrics indicated above
to assess social media engagement and popularity of M.B.A. every six months.
Project Structure, Methodology, and Action Components
Collective Impact with Result-Based Accountability is the framework for implementing
my project (Epps, 2016). Fund the Flow is a call-to-action for reparations through the infusion of
capital into Black-owned business due to 246 years of enslavement, 89 years of forced
segregation, and continued years of racialized policies and infrastructures that have been barriers
to the wealth accumulation for Black Americans (Oliver & Shapiro, 2006, p. 73). The success of
funding the grant is predicated on a collaborative partnership made up of various key players
such as philanthropists, corporations, national associations such as the U.S Black Chamber of
Commerce, Small Business Association, black financial institutions such as Citizen Trust Bank,
and other banking institutions like J.P Morgan Chase. They have a shared interest in eradicating

30
the racial wealth gap. Most organizations have spoken about the racial wealth gap and the capital
gap between Black and White -led businesses. However, results-based accountability provides
the framework to move from talking to action through collaboration, advocacy campaigning,
data collection, and partnership (Epps, 2017, p. 2).
Conclusions, Action, and Implications
The objective of the M.B.A. is to serve the Black community. However, the program
involves several sectors such as the local economy, employees, banks, and sole proprietors, that
are made up of diverse people who all have a common interest in the racial wealth gap, start-up
business owners, Black entrepreneurship, and economic equality for the Black community. The
author will pursue the involvement of a selection committee made up of the employees, White
entrepreneurs, Black entrepreneurs, corporate executives, bankers, leaders of the Small Business
Association, community leaders, and members of the Atlanta Black Chambers of Commerce. It
is expected that the collective impact will only work if various partners are invested in the
initiative. Through a collaborative effort, we will have impactful results that will spill over and
expand to other urban cities and include all Black-owned businesses.
Currently, the grant will only be open to Black businesses with employees and three
years of incorporation. However, the long-term goal is to have a successful intervention that will
be duplicated through urban cities and serve all Black businesses, which will expand to provide
living wages to more employees. This innovation is one that thrives on the circular flow of
income. The circular flow of the income model benefits the entrepreneur to create wealth, assets,
and legacy. The model also enables employees to utilize their income to impact their ability to
participate in financial services that make savings and wealth. Lastly, the model includes
banking institutions by increasing deposits that will affect loaning power.

31
After three years of the program, we will disseminate findings in various ways. Data
collected through the program will be utilized to publish an Op-ed article to advocate for the
importance of reparations programs to address racial, economic disparities. Additionally, we will
disseminate findings through our social media platform. By publishing the results throughout
social media and op-ed articles, two goals are to provide a blueprint for similar programs to
launch in other urban areas and to influence legislation to push through reparations for Black
Americans as a whole.
As of July 2020, Asheville, NC, approved a reparations fund for the local Black residents
(Vigdor, 2020). In November 2020, a reparations fund was approved in Evanston, Illinois, and
will be funded through a two percent sales tax on legal marijuana (City of Evanston, 2019). The
U.S. Conference of Mayors announced the backing of a national call for reparations for 41
million Blacks (The Associated Press, 2021). The time is now. It is time to invest in a corrective
action plan. The M.B.A. grant program is call-to-action to start the process of atonement,
healing, restitution, and resolve. The M.B.A. program is a solution to equalizing the playing field
in a capitalist economy and includes Blacks to have a seat at the table of opportunity and power
and build their tables. To remove the barriers preventing Blacks from being an economically
thriving community, everyone must acknowledge the barriers, atone for wrongdoing, and act to
repair. The time is now.

32
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38
Appendix A: Logic Model

39
Appendix B: SCORE Business Needs Assessment

Simple Steps for Growing Your Business
Business Needs Assessment

TM
Every business has its strengths and weaknesses. Once you complete
SCORE's Business Needs Assessment, you'll be able to identify areas for
growth and improvement, develop an action plan, and find resources to help
you take your business to the next level.
Name
Email Address
Phone
Business Name
Web Address
Number
of Employees

Progress: (1 of 7)

CONTACT INFORMATION

40
Appendix C: Application

M.B.A Grant Program
Applicant Information
Business
Name: Date:
.

Business
Address:
Street Address Unit #

City State ZIP Code

Phone: Email

Contact Person: EIN.:
Desired
Amount: $

Type of Business:

Website: ___________________________________ Social Media Handles
_______________________________

Year Founded ____________
Are you a citizen of the United States?
YES

NO
If no, are you authorized to work in the U.S.?
YES

NO

Is this business 100% Black-owned?
YES

NO

Has the business been incorporated for at
least 2 years?
YES

NO

Narrative
What are your plans for the Grant?
(Please upload a Projection Budget)

41

Business Goals:

How would you and your business benefit from 25 years of tax deferment?

Operations
Please upload an operation budget
Annual Budget:
Number of Employees (Not including
owner):
Maximum
Salary/Wages Offered: Largest Expense:
Partnerships/Contracts

Budget Format

An accurate, detailed financial report is a requirement of this grant. Your detailed description
should be broken down into the items specified below:

42
A. Report Heading
a. Specify the budget period (Must be current)
B. Revenue
C. Expenses
D. Narrative:
a. Explain unusual budget items
b. Current expenses
c. Any deficits
d. Fringe Benefits
E. Include Business tax returns
F. Current Payroll Report, included
G. Include copy of business license
H. Include Articles of Incorporation
Disclaimer and Signature
I certify that my answers are true and complete to the best of my knowledge.
If your business is funded, you agree to disclose tax documents, payroll documents, and banking documents for
transparency. Also, you agree to provide living wages to your employees, deposit into specified financial institutions
and participate in regular monitoring for up to 5 years post award. Lastly, you agree to ongoing mentorship for
strategic planning prior to the disbursement of funds.
Signature: Date:

43
Appendix D: Donor Request Letter

44
Appendix E: Selection Criteria

Abstract (if available)

Abstract Minority Business Accelerator (M.B.A.) advocates for the infusion of capital dollars into Black-owned employer businesses as a prominent of closing the capital gap between White-owned firms and Black-owned firms in Metro Atlanta, Georgia. Closing the capital gap is one of many sub-components to addressing the racial wealth divide within the United States. Large populations of this country lack savings or wealth to pull upon in order to get through pandemics or invest in future generations. However, the racial wealth gap between Blacks and Whites shows that Blacks are projected to be at zero net wealth by the year 2053 (Hamilton et. al., 2018). Additionally, it will take 228 years for Blacks to catch up to the wealth of White households (Hamilton et. al., 2018). The Minority Business Accelerator defines the systemic barriers to wealth accumulation for Black households. Additionally, M.B.A. promotes entrepreneurship as a micro-solution or path to wealth accumulation. The M.B.A program focuses on one microcosm of a solution by proposing a reparations-inspired grant administered through a 501 (c)(3), Supreme Family Foundation. The M.B.A program will provide up to a million dollars to five Black-owned businesses every year for the next five years. Twenty-five Black businesses in metro Atlanta, with more than one employee and at least two years of incorporation will benefit from capital to propel their business from serving to thriving. Following the economic circular flow of money model, capital will be infused into the business component, targeting Black-owned businesses. Recipients of the grant will be mandated to deposit awarded funds into a Black financial institution and provide living wages to employees. Though a successful business can take up to five years before owners see a profit, for Blacks, five years is significantly less than the projected 228 years that will take just to catch up to the wealth of White households. Closing the capital gap will provide Black households with the capital to grow, scale, and expand business, assets, and jobs in the Black community without loan repayments. Additionally, M.B.A will serve as a blueprint to a redefined approach to reparations by investment into the Black economic ecosystem.

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Asset Metadata

Creator Shamsid-Deen, Quiana Michelle (author)

Core Title Minority Business Accelerator: closing the racial wealth gap through strategic investment into Black-owned employer business as redefined approach to reparations

School Suzanne Dworak-Peck School of Social Work

Degree Doctor of Social Work

Degree Program Social Work

Degree Conferral Date 2021-08

Publication Date 08/23/2021

Defense Date 07/22/2021

Publisher University of Southern California (original), University of Southern California. Libraries (digital)

Tag atonement model,Black-owned businesses,circular flow of money model,collective
impact,grants,investment,OAI-PMH Harvest,racial wealth gap,reparations,social media

Format application/pdf (imt)

Language English

Contributor Electronically uploaded by the author (provenance)

Advisor Smith-Maddox, Renee (committee chair)

Creator Email q.shamsiddeen@gmail.com,quiana@supremefamilyfoundation.org

Permanent Link (DOI) https://doi.org/10.25549/usctheses-oUC15909364

Unique identifier UC15909364

Legacy Identifier etd-ShamsidDee-10043

Document Type Capstone project

Format application/pdf (imt)

Rights Shamsid-Deen, Quiana Michelle

Type texts

Source University of Southern California (contributing entity), University of Southern California Dissertations and Theses (collection)

Access Conditions The author retains rights to his/her dissertation, thesis or other graduate work according to U.S. copyright law. Electronic access is being provided by the USC Libraries in agreement with the author, as the original true and official version of the work, but does not grant the reader permission to use the work if the desired use is covered by copyright. It is the author, as rights holder, who must provide use permission if such use is covered by copyright. The original signature page accompanying the original submission of the work to the USC Libraries is retained by the USC Libraries and a copy of it may be obtained by authorized requesters contacting the repository e-mail address given.

Repository Name University of Southern California Digital Library

Repository Location USC Digital Library, University of Southern California, University Park Campus MC 2810, 3434 South Grand Avenue, 2nd Floor, Los Angeles, California 90089-2810, USA

Repository Email cisadmin@lib.usc.edu