Economic Development

The National Organization of the 100 Black Men of America, Inc., strives to encourage and empower the African American community to become financially literate and economically self-sufficient through the development and facilitation of programmatic initiatives that address the educational, technical and fiscal needs of our children, youth and those of the larger community.

Through its membership, the local chapters will provide informational and progressive guidance and support through the facilitation of workshops, didactic seminars, active partnerships with local corporations, businesses and schools. Within this framework, increased knowledge and practical applicability of concepts will assist in improved understanding of economics and financial empowerment. Current programs include: Chronicles of Black Wealth, Dollars and Sense Program, FINANCIAL Fitness For Life, Job Readiness Program, National Internship Program, Smart Edge, and Money Smart..

CHRONICLES OF BLACK WEALTH

DOLLARS AND $ENSE PROGRAM

FINANCIAL FITNESS FOR LIFE

JOB READINESS PROGRAM

NATIONAL INTERNSHIP PROGRAM  

SMART EDGE

MONEY SMART

100BLACKMEN and Small Minority-Owned Business Form Partnership(SMOB)

CHRONICLES OF BLACK WEALTH

The “Chronicles of Black Wealth” is an inter-generational resource tool that teaches applied economics through the exploration of basic finance principles and the examination of the beliefs, ideals and behaviors of African Americans who are financially literate and economically self-sufficient. The Chronicle of Black Wealth has been proposed as a three-part series that will be produced between 2004-2006. The Chronicles’ themes are as follows:

Volume I: Getting Started with Family Wealth-Building

Volume II: The African American Entrepreneur

Volume III: Early Childhood Economics

The overall theme of the Volume I is “Getting Started with Family Wealth Building.” Each chapter includes a concept overview, techniques for application and directions for implementation. The principle is reinforced by a “Historical Link” that describes how the concept has been applied throughout history by African Americans. Each chapter will feature and profile a 100 Black Millionaire---a few of the wealthiest and most successful African Americans of the 21st Century. These men and women provide testimonials that discuss their personal experiences, thoughts and beliefs about financial principles. The chapter concludes with Discussion Questions and Activities for the family members of all ages. Copies of Volume I can be ordered by contacting the 100 office. See Publications now for details.

Dollars and $ense Program 

The Dollars and $ense Program is a youth investment program. This program is designed to provide high school students, grades 9 though 12, with the opportunity to learn and apply the concepts of savings and investing. This 8-week program explores basic investment options and processes and culminates by having students create a “mock” financial portfolio which is presented during a competitive investment simulation.

The objective of this program was to prepare the students to understand basic savings and investment principles. The goal was to have these students apply these principles and theories to their day-to-day lives as well as to the Dollars and $ense competition as they defend the national championship.

The lesson plan includes combination of lecture, class participation and computers to track stock performance. Via lecture and class participation, the students were able to understand the concepts of savings, investing, life, and career planning. The computer portion of the curriculum provides the students first hand access to proper research methods for investing. Periodic field trips help to expose these young people to positive African American leaders in other areas to help broaden and develop their world view. To determine progress made by students, instructors facilitate both oral and written exams.

Financial Fitness for Life

“Financial Fitness for Life” is a financial literacy program sponsored by Bank of America and the National Council of Economic Education (NEFE). This multi-dimensional program addresses the issue of economic and financial illiteracy by providing a comprehensive curriculum at four different levels (Grades K-2, 3-5, 6-8, and 9-12). Each of the 15-22 lessons is developmentally appropriate and based upon the Voluntary National Content Standard for Economics. The program is based around the belief that financial fitness and physical fitness are essential for good health and are a direct determinant of “quality of life.” Both concepts require increased knowledge, consistent implementation and dedication to a long-term goal. Each lesson provides a correlation between economic concepts and fitness terminology which is then reinforced by hands-on activities.

Job Readiness Program 

The 100 Black Men of America, Inc. in partnership with The UPS Foundation created a cooperative agreement program entitled the 100/UPS Workforce Job Readiness Training Initiative. This funding is a critical step in response to the negative impact that unprepared and unskilled employees in the nation’s workforce have on businesses, their families and communities. Only 50 percent of black male high school dropouts have jobs, and over 40 percent are in prison, on parole, or on probation. The purpose of this program is to support innovative job readiness training for at-risk youth who have shown no aptitude or interest in pursuing a post-secondary education. This program calls for the delivery of job readiness training programs. The anticipated result will be the acquisition and/or enhancement of job/workforce skills of at-risk youth.

The program will emphasize the American work ethic and propagate the belief that work is good. Participants will receive a minimum of 1½ hours of training per week for at least 10 weeks. The program will offer a minimum of 10 sessions to occur over a minimum of 10 weeks. Instruction will be aided by field trips, role-plays and audio visual aids. The goal of the program is to provide participants with workplace knowledge that will be utilized to obtain and retain viable employment. A minimum of 50 youth must be served in this program during the grant period.

Provide job readiness training to at-risk high school students. The activities will include, but will not be limited to, completing a job application, interviewing, work and interview attire, effective job search strategies, employee roles and responsibilities and job retention tips.

Collaborate chapter-training activities with other job readiness/training programs in the community. . Effectively utilize the program evaluation tools provided by the national office.

Develop a plan for securing additional funds to continue program activity after the funding period is over. . Provide a 10% cash match of the awarded amount. (In-kind not considered)

Cooperate with the national office to publicize the program.

National Internship Program 

(Currently activated with Turner Broadcasting) 

The 100 Black Men of America, Inc.’s National Internship Program provides professional development opportunities for students, ages 16-21, that are also educationally enriching and help to build character and leadership skills. The program identifies students within the 100 Black Men mentoring program so that members of the 100 can continue to provide the students with a support system that is critical to the success of the prospective interns. The program also allows an opportunity for corporate and community partners to share and utilize their experience and expertise in the professional development of students.

The National Intern Program targets males and females, ages 16-21, who are enrolled in school full time and have an active affiliation with the 100 Black Men of America. Students must meet the following criteria:

. Junior or Senior in high school or enrolled in college.
. Cumulative average of 2.75 or higher.
. Excellent attendance record of 85% or better.
. Valid work permit.
. Completion of 30 hours of active service within last 12 months.
. Submit a one-page purpose statement.
. Demonstrated leadership skills; exercises good character; and have a willingness to work and learn.

This program is year round and varies from sponsor to sponsor. The average compensation rate is $7.00/hour for High School Students and $10.00/hour for College Students.  

Through 100 BMOA Chapters, the SmartEdge by GMAC program focuses on the promotion of financial literacy education including credit and credit worthiness, budgeting and financing options. Chapters received grants totaling $4,000 to support the implementation of the “Smart Edge” Program. Grant awards are for one year with potential funding for subsequent years.

Target Population
• African Americans and other youth of color
• African Americans and other adults of color
• Males and females
• College bound or workforce bound
• People with a desire to develop good money management habits

Role of the Local Chapter
• Identify participants and site location
• Provide transportation for students as needed
• Provide meal / snack for each session
• Develop a general understanding of the Smart Edge content
• Provide support and reinforcement of lessons
• Track, evaluate and report results to National Office of the 100 BMOA

Role of the GMAC Consultant and Diversity Coordinators
• Provide training on the Smart Edge Program
• Facilitate Smart Edge program
• Serve as another mentor or support system to participants

Support

Representatives from the Headquarters office of the 100 Black Men of America, Inc. and GMAC visited the local community to facilitate a partnership orientation and program training for chapter. On-going technical assistance will also be provided.

Session Overviews

Session 1: Credit
• Goal: Students gain a basic understanding the credit process and how your personal credit impacts this process.

Session 2: Budgeting
• Goal: Students gain an understanding of why it is important to have a budget and how car expenses can affect your budget and lifestyle.

Session 3: Options
• Goal: Students gain a basic knowledge to select the best payment option for

Session 4: Choices
• Goal: Students will have a better understanding of their choices as a consumer. Initial participating chapters included:

Money Smart

100 Black Men recognize recognizes and values financial education. A program that supports our financial literacy efforts, and translates to members of our community with little or no banking experience was targeted. The Federal Deposit Insurance Corporation’s (FDIC’s) Money Smart Program is designed to promote financial education, asset building, and self-sufficiency for low and moderate income communities.

The FDIC’s Money Smart program is a set of 10 instructor-led training modules covering the following basic financial topics:
• Bank On It — an introduction to bank services
• Borrowing Basics — an introduction to credit
• Check It Out — how to choose and keep a checking account
• Money Matters — how to keep track of your money
• Pay Yourself First — why you should save
• Keep It Safe — your rights as a consumer
• To Your Credit — how your credit history will affect your credit future
• Charge It Right — how you make a credit card work for you
• Loan to Own — know what you’re borrowing before you buy
• Your Own Home — what homeownership is all about

Each training module includes a comprehensive guide for instructors and a take-home booklet containing highlights and resource material for class participants. The instructor guides have everything necessary to teach the program – easy to follow cues and script, overheads, and interactive class exercises. The booklets for participants are provided in a camera-ready format so that each sponsoring organization can reproduce them as needed.

The Money Smart program is designed to consume about 60 minutes of classroom time per module. The FDIC provides the Money Smart curriculum to interested parties free of charge. The materials are easily reproduced and have no copyright restrictions. Visit the FDIC Money Smart website for more information. http://www.fdic.gov/consumers/consumer/moneysmart/index.html