Elon's Greatest Invention... Hidden in South Memphis?

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

With their massive resources, corporations could be champions of racial equity but often waiver

GLENN GAMBOA and THALIA BEATY
August 23, 2024

NEW YORK (AP) -- Forward Through Ferguson has made its mark on its community and the St. Louis region by focusing on justice and education, racial equity and policing reform.

The Missouri nonprofit was founded in 2015 to enact the societal changes outlined in the Ferguson Commission report to address the issues that contributed to the police shooting death of Michael Brown Jr. and the riots that followed in Ferguson, Missouri.

The new nonprofit and similar organizations looking to support the community saw money pour in from corporations like St. Louis-based Anheuser-Busch and major philanthropic organizations ranging from the Bill & Melinda Gates Foundation and the Robert Wood Johnson Foundation to the NBA Players Association Foundation.

It didn't last, Annissa McCaskill, Forward Through Ferguson's executive director, told The Associated Press.

She doesn't want to dwell on the negative because so many have generously helped the organization. But she won't forget the community group that pledged her nonprofit multiyear support and then decided after the first year that they didn't want to pay anymore. "Our priorities have shifted," the group said. Local companies that initially supported the group also stopped, "shifting priorities" again.

It's not like her organization was ever getting the million-dollar donations that many businesses like to tout. In fact, experts say following where money from corporations and their foundations goes is very difficult.

"In many instances, it is piecemeal," McCaskill said. "But when you put pennies in a jar, it starts to add up. Sure, I think, 'How many things do I need to do in order to get this fund endowed?'"

That lament is common throughout philanthropy, especially among organizations that rely on public donations each year rather than those, like Ivy League colleges, for example, that have large endowments that generate steady annual income. It's also not unusual for nonprofits to see a surge in giving while their cause, from protests to weather events, is in the spotlight, only to see donations quickly dry up.

However, the racial reckoning sparked in Ferguson was supposed to be different.

This story is part of an AP ongoing series exploring the impact, legacy and ripple effects of what is widely called the Ferguson uprising, sparked a decade ago by Brown's death.

Emerson Electric, a Fortune 500 company headquartered 1 mile (1.6 kilometers) from where Brown was killed, announced its "Ferguson Forward" initiative a month after the protests. The initiative allocated about $4 million over five years to improve education, offer scholarships to colleges and trade schools and provide business development for people in the community, hoping other area companies would match it. In 2014, Emerson earned about $2.1 billion in profit on sales of $25 billion.

Experts say there is a wide variety of reasons companies get involved with community donations, from altruistic, civic-minded ones to business-related ones including employee retention and building a stronger customer and employee base.

Recent trends suggest more corporations are providing goods and services at a reduced rate in addition to donations, rather than solely giving money to communities, said Kari Niedfeldt-Thomas, managing director and chief operations officer for Chief Executives for Corporate Purpose, a coalition that advises companies on sustainability and corporate responsibility issues.

According to CECP research, a wide-ranging definition of giving including volunteerism, community donations and providing services and products to nonprofits has jumped from 24% of a company's overall corporate or social responsibility budgets in 2021 to 35% of those budget in 2023, Niedfeldt-Thomas said.

But the current backlash against anything that could be perceived as a diversity, equity or inclusion program is making it more difficult to measure corporate commitments, even if companies are dedicating more resources toward them, she said.

Earl Lewis, a professor and director of the Center for Social Solutions at the University of Michigan, found that lack of transparency especially striking after the outpouring of corporate pledges and statements following the murder of George Floyd in 2020.

Along with his research team, Lewis, who formerly led the Mellon Foundation, designed a database to make information about the commitments and actions taken by major U.S. corporations around racial equity more accessible.

"Maybe there was a way to actually take people at their word, that they were going to do something and then, try to figure out whether in the public domain, we could find data that would support their claims," Lewis said, explaining they reached out to all the companies on their list and will update the results if they respond with public information.

There are few requirements for companies to make this information public, though if they give through a corporate foundation they will report outgoing grants on tax forms.

Lewis' team, led by data scientist Brad Bottoms, searched for statements and reports from 51 of the largest U.S. companies from 2020. Just over half, or 27 of the 51 companies, made a public pledge around racial equity that year. Of the companies that didn't make a pledge, the researchers found 10 mentioned racial equity when reporting about their donations.

Six companies that made pledges did not report in detail about how they fulfilled them, which Lewis and his team thought was a priority.

One of those companies, AT&T, did not respond to questions about whether it has fulfilled its $10 million pledge to historically Black colleges and universities.

The social media giant Meta said it fulfilled its promise to give $10 million to organizations that work on racial equity. The company also said it granted $20 million in cash and $12 million in advertising credits to 400 nonprofits serving Black communities, which Meta had not previously publicly disclosed.

Consumer giant Johnson & Johnson said by the end of 2023 it had spent $80 million out of a pledged $100 million to "community-led organizations and programs" to improve racial health inequities but did not specify what organizations.

___

Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit https://apnews.com/hub/philanthropy.

Continue Reading...

Popular

Billion dollar pizza? Bitcoin soars on key anniversary of crypto's growth

It’s not an official holiday – yet – but for many cryptocurrency enthusiasts “Bitcoin Pizza Day” is still special. Thursday marks the 15th anniversary of the first known use of cryptocurrency to buy real-world goods.

BYD Outsells Tesla In Europe, But These ETFs Still Back Elon's EV Empire

The Chinese carmaker BYD outsold Tesla in Europe's BEV segment for the first time in April. But markets see Tesla's long-term potential and ETFs still hold it as a top holding.

Major Copper-Nickel Discovery on the Move - Ad

Copper is called the new oil, with prices hitting decade highs. One junior has two strategic copper-nickel assets already producing high-grade results. Institutions and strategic investors are all in.

Floki Soars 78% In A Month, Outpaces Dogecoin and Shiba Inu: What's Next?

Floki (CRYPTO: FLOKI) is continuing its explosive momentum, gaining 78% over the past month, which outpaces Dogecoin's 40% and Shiba Inu's 18% gains in the same timeframe.

Valuation Concerns Prompt DA Davidson To Lower Guidewire Rating, But Sees Promising Q3 Results

DA Davidson downgrades Guidewire Software from Buy to Neutral, with $226 price target. Expects strong Q3 results, revenue growth of 19% and $1.22B in cash.

No.1 Opportunity for 2025 [Take Action Now!] - Ad

Starlink's potential IPO Could Be the Biggest in History--Silicon Valley insider James Altucher has uncovered a way to profit BEFORE the IPO--with as little as $50. Musk's $180B giant is set to launch--will you miss out? Claim your spot before it's too late.

PLTR Stock Remains Long-Term Buy Despite Sky-High Valuation, Says Prime Capital's McGough—Joins Dan Ives In Predicting $1 Trillion Market Cap Amid AI Surge

Palantir Technologies Inc. remains a stock to hold for the long term despite recent market volatility, with the potential to reach a $1 trillion valuation, according to Will McGough, director of investments at Prime Capital Financial.

High-Grade Copper Find Set to Surge - Institutions Moving In - Ad

Copper-nickel shortages are creating a rare setup. This junior mine developer with institutional backing has 68.9 million Inferred tonnes defined-and massive drilling underway.

Fortinet Stock Is Tumbling Today: What's Sparking The Sell-Off?

Fortinet Inc. (NASDAQ: FTNT) shares are trading lower Thursday after the company reported first-quarter 2025 financial results.

OpenAI CEO Sam Altman and other US tech leaders testify to Congress on AI competition with China

WASHINGTON (AP) — OpenAI CEO Sam Altman and executives from Microsoft and chipmaker Advanced Micro Devices testified on Capitol Hill about the biggest opportunities, risks and needs facing an industry which lawmakers and technologists agree could fundamentally transform global business, culture and geopolitics.

The Cross-Chain Giant Set for 1,000%+ Gains - Ad

This multi-chain protocol's volume is exploding while its price is still under the radar. Institutions are moving in fast-get our urgent report before retail wakes up.

Founder of crypto platform Celsius Network is sentenced to 12 years in prison

NEW YORK (AP) — The founder and former CEO of the cryptocurrency lending platform Celsius Network was sentenced Thursday to 12 years in prison after a prosecutor labeled him a predator who “preyed on hope” by enticing vulnerable customers to risk their life savings for a supposedly safe investment.

Trump's Crypto Blueprint Unveils This Infrastructure Powerhouse - Ad

One blockchain token sits at the heart of Washington's pro-crypto agenda. Institutions are loading up while it still trades at a discount. Here's how to get in for $3.

'DA POPE!' Leo XIV's Chicago roots unleash spate of holy humor

A Chicago-born cardinal walks into a conclave. The rest of the joke tells itself.

India suspends flight operations from several airports as tensions flare with Pakistan

NEW DELHI (AP) — Airlines in India have suspended flight operations from more than two dozen airports across northern and western regions of the country amid with Pakistan.

Nvidia Is About to Shock the World: July 23rd - Ad

Jeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%, is warning everyone to... Mark this date on your calendar: July 23rd! That's when Nvidia could help send shares of this Elon Musk supplier skyrocketing higher.

Trump Administration Reportedly Weighing Suspension of Habeas Corpus

President Trump's administration is reportedly weighing the possibility of suspending habeas corpus.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

Cadence Teams With Nvidia On Supercomputer Aimed At Faster AI And Engineering Simulations

Cadence unveils its new Millennium M2000 Supercomputer featuring Nvidia Blackwell systems, delivering AI-accelerated simulation for engineering and drug design.

Tesla Rival Lucid Offers Over $20,000 Discount On Air Sedan Amid Auto Tariff Impact

Lucid Group (LCID) offers up to $20K discount on Air sedan in May. Also offers $4K Tesla bonus with purchase before 5/31/25.

The AI Bottleneck Is Real-and One Firm Is Solving It - Ad

AI is scaling fast-but infrastructure is lagging. This firm isn't just aware of the problem, it's building the solution: servers, GPUs, and strategic AI deployments. NVIDIA noticed. Investors should too.

Tax the rich? Slash spending? Republicans wrestle with economic priorities in the Trump era

WASHINGTON (AP) — What, exactly, the stands for in terms of economic policy in the second is a question reaching an inflection point.

Lyft Is Executing Well But Analysts Caution About Uber And Waymo Competition

Lyft stock rises on $1.45B revenue, $750M buyback plan. Needham reiterates hold, Goldman Sachs upgrades to buy with PT of $20. Strong growth despite competition.

You Can Take a Stake in Elon's xAI Before June 1st... - Ad

Elon Musk's private AI firm xAI may have just leapfrogged ChatGPT and Google's Gemini--building what experts call the future of AI. For the first time, you can take a stake starting at $500.

Stocks Slip As Gold Rebounds To $3,330, Bitcoin Holds $102,000: What's Driving Markets Friday?

Wall Street traded slightly lower by midday Friday, as investors adopted a wait-and-see stance ahead of a potential trade breakthrough, with high-stakes negotiations between U.S. officials—led by Treasury Secretary Scott Bessent—and Chinese authorities set to unfold over the weekend.

Trump Announces 'Total Reset' as US-China Trade Talks Aim to End Tariff War

In a bid to ease the ongoing tariff war, senior negotiators from the US and China have resumed high-level trade talks.

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs! - Ad

Trump just launched a $1 trillion National Investment Fund to replace income taxes and send direct payouts to Americans. You could claim up to $21,307--before the first public checks go out. This is historic. Act now to be first in line.

Saudi Arabia’s low-cost carrier Flynas sells out all shares from initial public offering

DUBAI, United Arab Emirates (AP) — ’s low-cost carrier Flynas sold within minutes of opening all of the $1.1 billion in shares from its initial public offering on the Riyadh stock exchange on Monday.

Trump will open his Mideast trip by visiting the Saudi crown prince

RIYADH, Saudi Arabia (AP) — President is opening his on Tuesday by paying a visit to Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, for talks on U.S. efforts to dismantle , end the hold down oil prices and more.

Nvidia's Ecosystem May Have Found a New Rising Star - Ad

This tiny company is already generating revenue by delivering real compute-$20M+ in deals. With access to NVIDIA's partner network, they're not just watching the AI boom-they're powering it.

Eric Trump Says World Liberty's Stablecoin Will Be Used To Close A $2 Billion Deal — Dollar Token To Also Get Integrated With Justin Sun's Tron Blockchain

Eric Trump, the executive vice president of The Trump Organization, said that the Trump family-backed stablecoin USD1 has been chosen to close Abu Dhabi investment firm MGX's $2 billion deal with cryptocurrency exchange Binance. 

Disney to build its 7th theme park, this one in the United Arab Emirates

Disney will build its seventh theme park, this one in the United Arab Emirates, the entertainment company said Wednesday.

Elon Musk Drops Stunning Bombshell? - Ad

Behind closed doors, Musk revealed a game-changing breakthrough technology that could shake the tech world & crush major companies. Why is no one talking about it? Luckily, we had a man on the inside - watch now to see the details & how to profit!

Zillow Q1 Earnings Beat, Q2 Guidance Below Estimates, Shares Fall

Zillow Group reports first-quarter financial results after the market close on Wednesday. Here's a rundown of the report.

Asian shares advance as details awaited on progress in China-US trade talks

HONG KONG (AP) — Asian shares advanced Monday after two days of trade talks between China and the U.S. made what the U.S. side said was “ .”

Why Institutions Are Backing This Copper-Nickel Play - Ad

Amid a copper crisis, this overlooked junior is fully funded with institutional backing. They're drilling aggressively on two high-grade past-producing mines.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright finstrategist.com
Privacy Policy | Terms of Service