[Winning]

So Evanston, Illinois (Chicago suburb) has officially became the first U.S. city to make reparations available to its Black residents for past discrimination and the lingering effects of slavery.

On Monday 3/22/2021, The Chicago suburb’s City Council voted 8-1 to distribute $400,000 to eligible black households. Each qualifying household would receive $25,000 for home repairs or down payments on property.

The program is being funded through donations and revenue from a 3% tax on the sale of recreational marijuana. The city has pledged to distribute $10 million over 10 years.

Qualifying residents must either have lived in or been a direct descendant of a Black person who lived in Evanston between 1919 to 1969 and who suffered discrimination in housing because of city ordinances, policies or practices.

So $400,000 divided by $25,000 = 16. So I guess the next step is for them to select the 16 people that get this 1st pay out?

The day those 16 people get those funds, may be historical day due to the history of the 40 Acres that Union General William T. Sherman’s Special Field Order No. 15, issued on Jan. 16, 1865. Here is a short read of exactly what was originally promised in 1865 https://www.pbs.org/wnet/african-ame...es-and-a-mule/ .. Very Interesting read.. If that would have been allowed to happened it would have fundamentally altered the course of American race relations. I think that order may have played a huge role into why Abraham Lincoln was assassinated. Andrew Johnson, Lincoln’s successor and a sympathizer with the South, overturned the Order in the fall of 1865..

So what are you or your business doing to prepare for such a huge financial flow?

Here is what I am doing..

Investing in Crypto... I think its possible that such a huge fiat USD transaction could negatively effect the USD value and create higher inflation. It may be wise to put some money in crypto currency. if you are interested to learn a little about how crypto value works, here is a short read https://www.investopedia.com/ask/ans...have-value.asp

Incorporate a Non Profit Public Charity, and file for 5013C Status.... There is a huge need and will be a even bigger need to teach basic financial literacy, entrepreneurship, critical thinking, problem solving, etc.... I think that giving a boat load of money to people will not immediately elevate a mind set. That takes a lot more time and effort. If national reparations are dispersed there will be additional programs put in placed to assist with making this happen and fostering change. I am sure there will be new Private Foundations created and funded, related to assisting reparation recipients. Foundations can't give assistance directly to the reparation recipients. Foundations can only give grants to other 5013C organizations. The Non Profit 5013C Public Charity is responsible for actually taking the funds from the foundations via grants then helping the people. Here is a short read on Private Foundations vs Public Charities https://learning.candid.org/resource...lic-charities/

So what do some of you all think about what's going on, and how are you positioning yourself?

[Steven_O]

Great insight. You've really stayed on the forefront of this news. I agree with your Crypto sentiment and very intrigued about the 5013c status.

Education is key. Financial literacy is key.

There's a lot of hustle in the streets - they just need someone to counsel them on making the best moves.

I know because I've been there.

Keep winning, Winning.

[Winning]

Man this reparations things is developing fast! Oakland CA is going to intertwine Guaranteed Minimum Income and Race in a program they are calling "Oakland Resilient Families" payments program.. What is interesting about this program is how they avoid mentioning anything about reparations, slavery, or jim crow polices etc... But at the same time they are saying this benefit program is only for low income black people... I feel Reparations was already a complex situation regardless if the black person is in poverty or not.. now combine that with a low income filter, makes this even more complex. Too many Chefs in the Kitchen! There are tons of various initiatives being started on the city level, county level, state level, etc..... I think Congress needs to issue a formal apology for slavery & Jim Crow, and then take the lead on this whole reparations things asap.

Mayor of Oakland, Libby Schaaf “The poverty we all witness today is not a personal failure, it is a systems failure,”. “Guaranteed income is one of the most promising tools for systems change, racial equity, and economic mobility we’ve seen in decades.”

Oakland Resilient Families payments program

• $500 per month.
• The monies are not considered taxable income.
• Must be a person of color, Black, or Indigenous.
• undocumented and/or unsheltered individuals also qualify.
• Oakland resident must have at least one child under the age of 18 and income needs to be below $59,000 for a family of three.
• An online multilingual screening form will be made available this spring and summer. Recipients will be chosen at random to receive the funds.

Great insight. You've really stayed on the forefront of this news. I agree with your Crypto sentiment and very intrigued about the 5013c status.

I am in Texas.. I created a non profit corporation the other day. It only took me about 30 minutes and it cost $25 dollars. https://www.sos.state.tx.us/corp/sosda/index.shtml ... I chose to be a Non Member nonprofit that is governed by a Board. So I had choose 2 additional board members (non family related)..

I then logged on to the IRS and got an EIN https://www.irs.gov/businesses/small...ber-ein-online.

After that I had to file for the Recognition of Exemption Under Section 501(c)(3) at https://www.pay.gov/public/form/start/62759871 .. By the way the exemption status request fee was $275.

Now it is just a waiting game for the 501(c)(3) exemption request to be approved... But as of right now i have officially formed my non profit company and it has been issued an EIN. Next week I am going to open a Bank Account and have my 1st board meeting with my Board members.

[Yankeeman07]

The Oakland , California violates so many existing Laws it's is not even close to being funny.

[Winning]

...I created a non profit corporation the other day. It only took me about 30 minutes and it cost $25 dollars. https://www.sos.state.tx.us/corp/sosda/index.shtml ... I chose to be a Non Member nonprofit that is governed by a Board. So I had choose 2 additional board members (non family related)..

I then logged on to the IRS and got an EIN https://www.irs.gov/businesses/small...ber-ein-online.

After that I had to file for the Recognition of Exemption Under Section 501(c)(3) at https://www.pay.gov/public/form/start/62759871 .. By the way the exemption status request fee was $275.

Now it is just a waiting game for the 501(c)(3) exemption request to be approved... But as of right now i have officially formed my non profit company and it has been issued an EIN..

UPDATE..

I got my 501c3 approval letter from the IRS! I officially have a nonprofit with Tax exempt classification.. The IRS has a huge backlog.. I submitted for tax exempt approval on in 03/2021, and didnt receive the IRS approval letter until 9/10/21.

[Winning]

Great insight. You've really stayed on the forefront of this news. I agree with your Crypto sentiment..

Just created a Coinbase acct and bought $300 of Crypto! Took like maybe 15 minutes to do.

$100 worth of Bitcoin, $100 worth of Ethereum, & $100 worth of Cardano!

BTW the cryptocurrency exchange Coinbase (the platform that I just used to purchase the crypto with) is going to IPO soon. So I am probably going to by some stock in Coinbase once they go public.