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Dartmouth basketball team makes history with unionization

Noral Parham
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Dartmouth basketball team makes history with unionization

The Dartmouth College men’s basketball team, commonly known as “the Big Green,” etched its name in sporting history March 5, becoming the first college athletic team certified for union representation. The groundbreaking move sent shockwaves through the NCAA, igniting a national conversation about the rights and compensation of college athletes.

With a vote of 13-2, the Big Green players chose to join the Service Employees International Union Local 560 (SEIU).

“Today is a big day for our team,” said Dartmouth College juniors Cade Haskins and Romeo Myrthil, who led the unionization effort, in a statement. “We stuck together all season and won this election. It is self-evident that we, as students, can also be both campus workers and union members. Dartmouth seems to be stuck in the past. It’s time for the age of amateurism to end.”

The decision came after a successful petition to the National Labor Relations Board (NLRB), which ultimately classified the players as university employees. The classification came after players realized they received free equipment and apparel from the college. Dartmouth, however, has appealed this decision, setting up a potential legal battle with wide-ranging implications.

“For decades, Dartmouth has been proud to build productive relationships with the five unions that are currently part of our campus community. We always negotiate in good faith and have deep respect for our 1,500 union colleagues, including the members of SEIU Local 560,” Dartmouth administration said in a statement following the vote to unionize. “In this isolated circumstance, however, the students on the men’s basketball team are not in any way employed by Dartmouth.”

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A poster of a basketball player is attached to a lamppost on the campus of Dartmouth College, Tuesday, March 5, 2024, in Hanover, N.H. Dartmouth basketball players voted to form a union, an unprecedented step in the continued deterioration of the NCAA's amateur business model. (AP Photo/Robert F. Bukaty)
A poster of a basketball player is attached to a lamppost on the campus of Dartmouth College, Tuesday, March 5, 2024, in Hanover, N.H. Dartmouth basketball players voted to form a union, an unprecedented step in the continued deterioration of the NCAA’s amateur business model. (AP Photo/Robert F. Bukaty)

The potential impact of a Dartmouth players’ union extends far beyond Hanover, New Hampshire. If the NLRB upholds the initial decision and the unionization effort prevails, it could pave the way for athletes across all sports and universities to follow suit. The unionization could alter the college athletics landscape by potentially leading to negotiations or restructured Name, Image and Likeness (NIL) deals.

College athletes generate billions of dollars in revenue for the NCAA and universities; however, they are not allowed to be paid for their work. A formed union could bring about change, enabling athletes to share in the profits they help create. Unions could also negotiate guaranteed scholarships throughout a player’s athletic eligibility, even in the event of injury.

Additionally, the bargaining chairman of UAW Local 933 in Indianapolis, George Freeman III, who was integral in securing better wages and work conditions at Allison Transmissions, briefly spoke with the Indianapolis Recorder about the benefits of the unprecedented move by Dartmouth’s men’s basketball team.

“Overall, it’s a win for the labor movement and the [Dartmouth] university basketball team players,” Freeman said.

Currently, the NCAA provides limited health care benefits to athletes, but unions could push for comprehensive health care coverage. Unions could also advocate for better academic support services and more flexibility in scheduling classes.

More News: Sysco strike stops, union forms new terms

Furthermore, the Dartmouth unionization effort has garnered national attention. Supporters highlight the growing commercialization of college athletics and the lack of fair compensation for athletes. Opponents argue that unionization would erode the amateur nature of college sports and potentially lead to professionalization at the collegiate level.

“For Ivy League students who are varsity athletes, academics are of primary importance, and athletic pursuit is part of the educational experience. Classifying these students as employees simply because they play basketball is as unprecedented as it is inaccurate. We, therefore, do not believe unionization is appropriate,” Dartmouth administration said in a statement.

When asked about the Dartmouth unionization effort, the athletic department at Butler University, which boasts its own local men’s college basketball team, declined to comment because the decision is in its infancy.

“Let’s work together to create a less exploitative business model for college sports,” Haskins and Mythril said in a statement. “Over the next few months, we will continue to talk to other athletes at Dartmouth and throughout the Ivy League about forming unions and working together to advocate for athletes’ rights and well-being.”

Contact senior sports writer Noral Parham III at 317-762-7846 or via email at noralp@indyrecorder.com. Follow him on Twitter @3Noral. For more news from the Indiana Minority Business Magazine, click here.

Building generational wealth in Black communities: A path to economic empowerment

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Building generational wealth in Black communities: A path to economic empowerment

By STEPHANIE QUICK

While Black History Month may have closed in February, reflecting on the ongoing journey toward equity and empowerment within Black communities is crucial. One of the most impactful avenues toward equity is financial security, but unfortunately, that is not easily attainable for many. Antiquated lending practices often make it challenging for minorities to climb out of financial difficulties that have plagued their families for generations.

Why is generational wealth so vital? It’s about providing families with the means to invest in anything from college tuition to unexpected medical debt, laying a foundation of stability and prosperity for future generations. In order to make this level of financial security attainable for everyone, lenders need to make intentional efforts to restore hope and provide opportunities for equitable access to funding. At Intend Indiana, our goal is to sell no less than 70% of the homes we develop to Black home buyers, and we aim to lend no less than 70% of our available loan dollars to Black borrowers. I am excited to share that we have surpassed that goal for the past two years. We understand that to see diversity in generational wealth, we first have to create affordable and equitable wealth-building opportunities. 

We are making tangible progress through initiatives like our Affordable Home Matters, Build Fund, Edge Fund, and Renew Landbank. For example, our Home Power initiative has empowered new homeowners to secure affordable homes and mortgages, often with significant equity at the closing table. By facilitating homeownership, people are not only gaining shelter; they’re gaining stability, control, and the opportunity to build equity for the future.

Our Build Fund provides the same wealth-building opportunity for entrepreneurs. Statistics have shown that Black and brown business owners are more likely to be denied credit, pay higher rates, be charged higher fees, and face longer turnaround times compared to similar non-minority borrowers. The flexible loan terms from Build Fund allow business owners to thrive and create businesses that last for generations, allowing families to reshape the future for generations to come. We’ve seen the transformative impact of these initiatives firsthand, with businesses flourishing and creating new pathways to prosperity.

Prioritizing inclusivity and diversity requires a conscious effort from all of us. We as individuals need to assess the table we’re seated at and note the missing faces. By doing this, Intend can target Black small business owners and homebuyers, ensuring access to tailored financial products that meet their specific needs. Additionally, we recognize a need for borrowers to see themselves reflected in the lenders they depend on for their wealth growth. The diversity in our staff and board mirrors the communities we serve, fostering trust, understanding, and meaningful engagement.

One of the greatest things about the work I am able to do with Intend is hearing the success stories of those who have taken advantage of our products and initiatives. We recently heard from Patty, a borrower of our IndyAMP program that offers affordable mortgage refinancing options for homeowners. She shared how the program allowed her to reach peace of mind. Through the efforts of our Edge Fund initiative, we were able to coordinate a mobile closing for Patty so she didn’t have to leave work to close her loan. Also, our 90-day grace period on first-time payments allowed Patty to pay off additional debts and find housing and financial stability. Individuals like Patty who have decided to jump and connect with us have experienced newfound stability and financial freedom. These stories underscore the profound difference that targeted investments can make in narrowing the racial wealth gap and promoting economic mobility.

As we move forward, our vision remains ambitious yet attainable. We are continuing our fight toward economic equity by investing millions in affordable housing, lending and development, and we urge other lenders to prioritize the same goals. Let us reaffirm our commitment to building a future where every individual, regardless of race or background, has the opportunity to achieve economic prosperity. Investing in generational wealth-building initiatives and fostering inclusive economic ecosystems can create a more just and equitable society for future generations.

Minority Business Highlight: Runway Diva Boutique

CHLOE McGOWAN
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Minority Business Highlight: Runway Diva Boutique

Runway Diva Boutique, a local Black-owned clothing store, first opened in 2012 with the goal of serving as a one-stop shop for Hoosier women.

The boutique offers an array of styles in the latest fashion, from clothing to accessories for every occasion. From jeans to cocktail dresses or glitzy evening wear, Runway Diva Boutique strives to match every woman with her ideal look, according to the official website.

Both an online and brick-and-mortar shop in Downtown Indianapolis, customers can shop in-store or call ahead to schedule a personal fitting with one of the stylists, as everyone on staff is trained and highly knowledgeable of the fashion industry in order to best match clients with the right look.

“Runway Diva Boutique is your every woman boutique” and services women from a size small to a 6X.

The online store allows customers to browse a large selection of garments and accessories, as well as consult a sizing chart and call the store with any questions about items before purchasing.

Runway Diva Boutique has also pledged its support to the NAACP, GLAAD and Feeding America. “We believe that everyone deserves a life without limits and free of injustice,” its website states.

Runway Diva Boutique is located at 2719 E. 56th St. For more information, visit runwaydivaboutique.com. To get in contact, call 317-661-7985 or email info@runwaydivaboutique.com. 

This minority business highlight was composed by CHLOE McGOWAN at the Indianapolis Recorder, who can be reached at 317-762-7848 or via email at chloegm@indyrecorder.com. If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!

DuJuan McCoy named 2024 Indiana Small Business Person of the Year by SBA

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DuJuan McCoy named 2024 Indiana Small Business Person of the Year by SBA

By MEGHAN STRATTON

INDIANAPOLIS – March 13, 2024 – DuJuan McCoy, Owner, President, and CEO of Circle City Broadcasting (parent company for WISH-TV and WNDY) has been awarded the 2024 Small Business Person of the Year for the state of Indiana by the U.S. Small Business Administration.

SBA Administrator Isabel Casillas Guzman, the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced that the winners “embody the grit and determination that power the U.S. economy.”

One business owner from each of the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam was selected for individual State Winner awards.

McCoy will be recognized in Washington, D.C during the National Small Business Week (NSBW) April 28th– May 4th where he will also be a contender to win the top honor of National Small Business Person of the Year

McCoy won the award for being not only a strong advocate for small businesses and underserved communities, but for creating new jobs, advancing the economy, and using his platforms to educate and inform all the communities that he serves.   

“Having launched my entrepreneurial TV Station career back in 2008 (during the financial crisis) via an SBA-backed loan, I am truly honored to receive the 2024 Small Business Person of the Year award for the state of Indiana,” McCoy said. “Thank you to the U.S. Small Business Administration for this incredible honor and for recognizing the great work that we at Circle City Broadcasting continue to do every day!”

The U.S. Small Business Administration’s mission is to help Americans start, grow, and build resilient businesses. The SBA was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns; preserve free competitive enterprise; and maintain and strengthen the overall economy of our nation.

Diving into diversity: Empowering Black and Brown youth through aquatic exploration and conservation

Noral Parham
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Diving into diversity: Empowering Black and Brown youth through aquatic exploration and conservation

In a world where access to aquatic activities remains somewhat of a privilege for many, a few Indianapolis aquatics organizations are working tirelessly to break down barriers and provide opportunities for Black and Brown youth to explore the many wonders of the underwater world.

According to recent studies, minority communities often face significant disparities in access to swimming lessons and aquatic activities, potentially leading to higher rates of drowning incidents. The Center for Disease Control and Prevention (CDC) reports that minority youth drown at a rate 7.5 times higher than their white counterparts. The YMCA also reports that 64% of Black children cannot swim, while only 40% of white children cannot swim.

Despite these alarming statistics, three organizations, Sea Scope, Inc., Friends of the White River, and Youth Empowered, Inc., are making waves in their communities by exposing minority children to aquatic activities and empowering them to become champions of the marine environment.

Sea Scope is on a mission to create a new generation of ocean explorers and activists. Led by founder and CEO Dr. Allyson Brown, Sea Scope aims to increase diversity in science, technology, engineering, mathematics (STEM) and aquatics by providing comprehensive programs that not only teach essential water safety skills, but also foster a deep connection with the marine world. Through partnerships with local community centers, including Wheeler Dowe Boys and Girls Club and St. Florian Center, Sea Scope has served over 380 youth in Marion County over the last four years.

“Drowning is the second-leading cause of death among children,” Brown told the Indianapolis Recorder. “At Sea Scope, we are teaching children how to save themselves and so much more.”

One member of the program at Sea Scope Inc. getting a first-hand experience of underwater and marine life. (Photo provided/Sea Scope)

Friends of the White River

Participants not only gain the skills to be safe in and around water but also develop a passion for STEM, marine exploration and conservation.

Friends of the White River, or simply “Friends,” also focuses on aquatics and conservation in Indy. Since the 1980s, the organization has dedicated itself to preserving and protecting the White River in Indiana while also promoting environmental education and stewardship among youth. Today, through various programs and new initiatives, Friends provides opportunities for minority children to engage with their local waterways and learn about the importance of conservation.

“Friends wants to help people break down those barriers and create equitable access,” said Kay Hawthorne, environmental justice director of Friends of the White River.

From river clean-up events to educational workshops, Friends empowers youth to become advocates for their community and the environment. By instilling a sense of responsibility and pride in their natural surroundings, Friends of the White River is fostering a new generation of environmental leaders.

Like Friends, Youth Empowered, Inc. is cultivating a new era of environmental champions. The organization focuses on empowering minority youth, as the name implies, through education, mentorship and exposure to diverse experiences. Recognizing the importance of aquatics in building confidence and life skills, Youth Empowered partners with local swimming pools and community organizations to offer swimming lessons and water safety training to underserved communities.

More on Youth Empowered and other aquatics programs

Board of Directors President of Youth Empowered Lauren Warfield spoke about the importance of exposure to aquatics. “It is little things that have allowed our youth to come into bigger experiences that they don’t normally get on a regular basis,” Warfield said.

(Photo/Getty Images)

By breaking down cultural barriers and providing access to aquatic activities, Youth Empowered is not only saving lives but also opening doors to new opportunities for minority children. Through success stories and testimonials, the organization showcases the transformative impact of learning to swim and the confidence it instills in young individuals.

Despite their impactful work, these organizations face challenges such as funding constraints, cultural barriers and low participation among youth from minority communities. However, they remain resilient in their mission and continue to seek support from individuals and organizations alike.

“A lot of changing the narrative begins with changing mindsets,” Hawthorne said. “By providing students with take-home material and collaborating with organizations like Sea Scope, it helps make sure we are providing a more in-depth education and experience for the youth.”

Organizations like Sea Scope, Friends and Youth Empowered are shaping the future of Black and Brown youth across Indianapolis, helping them develop a love for the environment and empowering them to become champions in their communities.

“When they join this program, they are electing to challenge literally everything they know about themselves because they are exposing themselves to an opportunity they hadn’t had before,” Warfield said.

Contact multimedia staff writer Noral Parham III at 317-762-7846. Follow him on Twitter @3Noral. For more news courtesy of the Indiana Minority Business Magazine, click here.

INDIANAPOLIS AFRICAN AMERICAN QUALITY OF LIFE INITIATIVE (IAAQLI) ANNOUNCES THIRD ROUND OF GRANTS

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INDIANAPOLIS AFRICAN AMERICAN QUALITY OF LIFE INITIATIVE (IAAQLI) ANNOUNCES THIRD ROUND OF GRANTS

Grants will fund programs and initiatives to improve the quality of life for African American Residents

By SPECIAL TO THE RECORDER

The National Urban League has selected 38 Indianapolis/Marion County not-for-profit organizations as the second recipients of grants from the Indianapolis African American Quality of Life Initiative (IAAQLI). The organizations represent 41 grants awarded with funding totaling more than $12.3M. The initiative is a partnership between the National Urban League, the Indianapolis Urban League, and the African American Coalition of Indianapolis.  IAAQLI was created in 2020 through a $100M grant from the Lilly Endowment Inc. to the National Urban League.

The third round of funding comes after the two distribution of awards to organizations that have created and implemented programs designed to address the most critical issues impacting the quality of life for African Americans within Indianapolis/Marion County. The funding will continue to help non-profit organizations implement IAAQLI’s goal to support effective programs, policies, and ventures that will make measurable improvements in the daily lives of African Americans in the local community. As with the previous funding rounds, the National Urban League is awarding grants to organizations whose programs, services, and advocacy will address historic inequities within Indianapolis’ Black communities. “Indianapolis continues to shed new light on identifying solutions for addressing the needs of its Black communities. The work being done is game-changing, and the country is watching,” said Marc Morial, President of the National Urban League.

Grants in the second round of funding will be awarded to the following organizations:

Category:  Employment

Boys and Girls Club of Central Indianapolis                                        $390,317

Brightwood Community Center                                                           $393,946

BUILD (Believers United in Local Development)                                $385,800

Children’s Bureau, Inc.                                                                       $400,000

Christamore House                                                                            $400,000

Englewood Community Development Corporation                            $399,850

Fathers and Families Center                                                             $400,000

Judah Ministries                                                                               $400,000

Keys2Work, Inc.                                                                               $400,000

Martin Luther King Multi-Service Center Indianapolis                      $319,770

Neighborhood Link Indianapolis Foundation                                    $301,280

Thomas Ridley’s 1 Like Me                                                               $100,000

University of Indianapolis (UIndy)                                                     $395,813

Category:  Health and Wellness

Allegiant Prep Academy                                                                   $220,000

Centers of Wellness for Urban Women                                            $300,000

Fay Biccard Glick Neighborhood Center                                          $372,000

Flanner House of Indianapolis                                                          $185,000

Flanner House of Indianapolis                                                          $160,000

Hoosier Families, Inc.                                                                       $400,000

Indiana Black Expo                                                                          $250,000

Indiana Youth Group                                                                        $200,000

Indianapolis Recorder Charities                                                       $400,000

International Marketplace Coalition                                                 $250,000

Local Initiatives Support Corporation Indianapolis                          $300,000

Mozell Sanders Foundation, Inc.                                                    $300,000

Mt. Carmel Baptist Church                                                              $210,272

Murphy Mentoring Group                                                                $385,200

PEACE Learning Center, Inc.                                                         $250,000

Reach For Youth, Inc.                                                                     $200,000

Soul Food Project                                                                          $268,840

The Riley Center, Inc.,                                                                   $365,411

University of Indianapolis (UIndy)                                                  $394,331    

Leadership and Civic Engagement

Broadway United Methodist Church                                                 $250,000

Central Indiana Community Foundation                                           $250,000

Education United Indy, Inc.                                                               $250,000

Indiana Black Expo                                                                         $250,000

The Indianapolis Public Schools Foundation                                   $249,700

Indy Black Chamber of Commerce                                                  $250,000

Madam Walker Legacy Center                                                         $250,000

Martin Luther King Multi-Service Center Indianapolis                      $249,539

The Ross Foundation                                                                       $250,000

“With this third round of funding, we have the opportunity to continue our support for organizations that have implemented programs that will continue to elevate the mission of the IAAQLI,” said Indianapolis Urban League President and CEO Tony Mason. “We also have the opportunity to engage new organizations who are committed to supporting our Black community. As more organizations receive funding and our grantees from our previous rounds of funding begin reporting their outcomes, we will continue to understand further the depth of the issues the community has identified and work together to explore what additional resources are needed.”

“Eliminating disparities caused by decades of systemic racism will require continuous involvement from our entire community,” added African American Coalition of Indianapolis Chair Willis Bright. While this is our third round of funding, these organizations will need the support of our entire community to be successful. I encourage us to learn more about the implemented programs and engage with the organizations committed to this effort. This is how we can ensure the entire community benefits, and we have sustainable programming that will withstand the test of time.”

Visit www.iaaqli.org to learn more about the Indianapolis African American Quality of Life Initiative and review a complete project listing with descriptions 

Indianapolis Recorder President & CEO honored by CLD

Jade Jackson
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Indianapolis Recorder President & CEO honored by CLD

The Center for Leadership Development (CLD) announced Indianapolis Recorder President & CEO, Robert Shegog as one of their nominees for this year’s recognition for Black excellence.

The center said Shegogs leads with passion and dedication at Indianapolis Recorder and he embodies the spirit of excellence that enriches our community. His remarkable contributions have not only elevated the success of the company but have also left an indelible mark on Indiana.

The annual Minority Achievers Awards & Scholarship Gala (MAAG) is a noteworthy evening of recognition where CLD, education, business, corporate, and community leaders gather to celebrate the achievements of minority professionals, community leaders, and CLD scholars. 

The Gala acknowledges CLD students who have received scholarships from educational institutions for attaining their intellectual and academic potential. 

In 2023, over $5.4 million in full and partial scholarship funds were awarded to CLD Alumni, and since 2004, CLD students have been awarded over $39 million in scholarships.

Local corporations, organizations, and educational institutions celebrate the chance to honor exceptional minority individuals who demonstrate excellence in their profession or community.

“I am thrilled and honored to be nominated at the 44th Annual Minority Achievers Awards & Scholarship Gala by the Center for Leadership Development. This recognition underscores my dedication to life, service, and career excellence,” said Shegog.

“Your encouragement means the world to me, and together, we can inspire and empower the community and the youth that CLD serves. Let’s make a positive impact on our community and celebrate the achievements that shape our future. Thank you for your ongoing support.”

The gala will be Thursday, March 28, 2024 at the Indiana Convention Center with doors opening at 5:45 p.m. and the dinner and program starting at 6:00 p.m.

Learn more HERE.

Transform communities through business ownership and generational wealth

STAFF
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Transform communities through business ownership and generational wealth

By JAMAR COBB-DENNARD

Communities struggle when jobs and wealth leave the neighborhood. When the big employer leaves, joblessness, drug use, poor housing stock, food scarcity, and infrastructure woes begin to plague once successful areas of the city.

There is a way up through business ownership and succession.

Many communities are already taking advantage of small business growth as an essential economic development tool. Social programs, grocery stores, and crime prevention are all necessary tools of neighborhood revitalization. However, communities need sustainable long-term fixes that create cash for generations. Even though a large corporation could come (back) to the neighborhood, we cannot count on it. Small business training, ownership, and succession are the fix.

There are challenges associated with using small business development as an economic development tool. Education, access to capital, funding, and more create roadblocks that can be overcome with strategic planning and execution.

Education: We Need More Incubators

Business incubators are starting to show up in economically challenged communities. We need more of them and we need professionals to donate their time and educate new business owners on the tools of success. CPAs need to show up to teach tax mitigation and payment strategies. Attorneys need to be on-hand to discuss business formation, risk management, and contracting. We need wealth managers on deck to teach entrepreneurs how to save, invest, and leverage their business as a wealth creation tool.

Be a Buyer, Not a Founder

Many see the only path to entrepreneurship in starting a business. Starting a business is expensive, time consuming, resource demanding, and has a high rate of failure. Purchasing a business is the best path to ownership. Cash flow/profit is already baked into the deal. Employees, clients, systems, vendors, and suppliers come with the company. Acquiring a company gives entrepreneurs a running start.

Gain Access to Capital

Getting money to start or buy a business, when you have few assets to lend against, can be challenging. Entrepreneurs want to start a business to produce cash and build assets, however it is tough to get a loan without cash flow or assets. Savings, investment partners, grants, and special bank loans can be the answer. Some financial institutions have 0% and 5% down payment loans available for acquisitions by minorities. Consider buying your employer’s company. This can be done slowly through payroll deducted equity contributions, or all at once with a bank loan specifically suited for acquisitions by employees. It would also behoove communities to pool financial resources together, start an investment fund, and pour money into acquisitions in specific neighborhoods.

Select Profitable Industries

Cupcakes and ribs are delicious, but food or retail as the foundation of a business are an unlikely source of long-term wealth for a community. The best companies to start or acquire produce 10-30% annual profit, are able to run without the owner, have a service or product that produces automatic recurring revenue, and are not dependent on a handful of clients. Manufacturing, software, business services, and building trades are excellent industries to do business in.

Know the Business’ Financials

Gross sales are simple to calculate. However, the numbers that make the biggest impact on wealth creation are costs of goods sold (COGS), operating expenses, earnings before interest, taxes, depreciation, and amortization (EBITDA), and net income. Get a FreshBooks or QuickBooks account, connect it to your bank account, and begin tracking income and expenses. This practice will help with business management, future valuation and sale, and having the right documentation to get a bank loan.

Hire Within the Community

Now that we have a well-funded business run by an educated owner, the owner should place a priority on hiring within the community. Some residents may need to skill-up. This is where the community college, trade schools, and community development centers come in. Business owners should also financially invest in skills training, language instruction for non-English speakers, family support services for their employees as employment benefits. Then, teach the best employees how to run the business, and allow those employees to run, and have equity in, your next acquisition. As entrepreneurs hire more and more of the neighborhood, the tide of success will raise all boats.

Leverage the Benefits of Business Ownership

Business ownership comes with benefits. Entrepreneurs can reduce their tax burden through write-offs. The business owner can deduct charitable contributions to neighborhood organizations. Investors can put their money into tax-credit subsidized real estate developments within their community to shelter profits from capital gains taxes. Owners need to be trained by professional advisors on how to take advantage of tools the wealthy use to maintain and grow their assets.

Create Generational Wealth

Finally, business ownership over job creation creates generational wealth. If someone has a job, once they retire, the money stops. Hopefully, that individual saved and invested well so their retirement is fully funded and they have assets to pass to the next generation upon death. Unfortunately, many are not in the position to fully retire, and even fewer are financially able to provide generations with perpetual wealth.

On the other hand, business ownership can provide generations with jobs and wealth that does not end. Owners can keep jobs in the neighborhood by gifting or selling their business to family or community members. Entrepreneurs can also sell their business, invest the sale proceeds, and have hundreds of thousands to millions of dollars that produce dividends forever.

Good jobs are a path to the middle class. Well-run businesses are the path to individual wealth, generational wealth, and neighborhood transformation.

Jamar Cobb-Dennard is a M&A attorney and business broker. To learn more about how to buy or sell a business, email Jamar at jamar@jamarcobbdennard.com.

A.G. Maas receives Vendor of the Month honors

Noral Parham
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A.G. Maas receives Vendor of the Month honors

A.G. Maas Supply Company, a certified Women Business Enterprise (WBE) in Indianapolis, has been named Vendor of the Month for March. The award was presented to Maas’ Cindy Schum by Councilor Keith L. Graves and Director at the Office of Minority and Women Business Development (OMWBD) David Fredricks on Mar. 1, marking the start of Women’s History Month.

Founded in 1915, A.G. Maas is one of the oldest women-owned businesses in Indianapolis. The facility and janitorial supply and Division 10 and 12 subcontractor became women-owned in 1983 and is currently under the leadership of Schum. The company prioritizes community involvement through sponsorships, volunteer programs and partnerships.

A.G. Maas’ commitment to personal attention and individualized solutions sets them apart from other supply companies. A.G. Maas works exclusively with manufacturers that provide reliable customer service and quality products and buys products from companies that share their environmental concerns.

The company is committed to providing world-class service, unique solutions for specific needs, national distribution, supply management and procurement. A.G. Maas serves a variety of industries, including schools, government facilities and large office buildings, with quality cleaning supplies, office supplies, site furnishings and more.

“At A.G. Maas, we are dedicated to providing the best service and products to the wonderful community of Indianapolis. This award serves as a reminder of our commitment to continue serving the residents and businesses in this city with excellence and dedication,” said Schum in a statement.

The company has been 100% women-owned since 1983 and is Women Business Enterprise (WBE) certified with the City of Indianapolis and the State of Indiana, Disadvantaged Business Enterprise (DBE) certified with the Indiana Department of Transportation, and certified with the Women’s Business Enterprise National Council (WBENC).

The company is also a certified Women-Owned Small Business (WOSB) with the Small Business Administration and certified by the Airport Concessions Disadvantaged Business Enterprise (ACDBE).

“As one of the first women-owned businesses in Indianapolis, A.G. Maas Company has been a trailblazer in our community, inspiring many with their dedication, innovation, and commitment to excellence,” said Councilor Graves. “Their success serves as a beacon of empowerment for all aspiring entrepreneurs, and we are proud to celebrate their achievements this month.”

Contact multimedia staff writer Noral Parham III at 317-762-7846. Follow him on Twitter @3Noral.

Minority Business Highlight:  Stephanie Franklin turned her passion into a career with Fly Wines

Garrett Simms
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Minority Business Highlight:  Stephanie Franklin turned her passion into a career with Fly Wines

Stephanie Franklin decided to leave her corporate job in tech and turn her passion for wine into a business. Now, she has created Fly Wines, a wholesale and distribution company providing unique wines.

Franklin partners with independent wineries from underrepresented countries, for example Turkey, to give wine lovers in the U.S. a one-of-a-kind experience. Franklin says her wines offer a peek into the culture of these countries while allowing wineries to reach customers in the U.S.

For Franklin, Fly Wines combines passion and work, and her decision to start the company comes from turning tragedy into triumph.

After the passing of her mother and a close friend in a short period, Franklin decided to use the lessons her mother gave her and how she lived her life as examples for her own life.

Franklin was working in marketing and advertising for the tech industry but was not enjoying it. Shortly after her mother’s passing, she reevaluated her life, realized there needed to be a change, and decided to go full force into the wine industry.

“I always enjoyed wines, understanding wines, so it seemed like a perfect marriage between how I really wanted to live my current authentic life. I can keep doing the same ol’ same ol’, and I can make good money, but am I really fulfilled?” Franklin said.

She then started the research and work necessary to make Fly Wines a profitable business. Franklin has always been curious and loved learning, so when it came to wine – something she enjoys – she used that curiosity for wine to help propel her through the logistics of starting a wine business.

She had to learn how to create a distribution company and work with the Alcohol Bureau Control, the FDA and other agencies to obtain licenses to start Fly Wines. Through all this work, Franklin says she focused on one step at a time, always staying present in the moment instead of looking toward the finish line.

“I always tell people, if I had seen from the beginning how much it would take to get here, I probably would have been overwhelmed.”

Now, her work is coming to fruition through Fly Wines. Her business is unique because she sources the wineries herself with her sommelier, Giuliano Manno. Together, they focus on finding independent wineries, which Franklin says adds exclusivity to Fly Wines.

According to Franklin, many wines consumers drink are made in the same regions, so wine will start to take on similar tastes. She explained that cabernets grown in similar regions and climates will begin to give the consumer a “linear” idea of what a cabernet should taste like.

By finding and creating relationships with wineries from lesser-known regions, she can offer wines with deeper flavors, unique smells and characteristics consumers would not usually see.

In countries commonly known for wine, like Italy, focusing on lesser-known regions produces wine with a different drinking experience.

“Yes, Italian wines are well known, but then you’ll understand, once you dig into it, that Italian wines mostly come from one particular region, so the other regions don’t get much visibility. So, that focus on independent wineries helps to create exclusivity and a reach beyond the norm and allows us to enhance the palettes of the American consumers of wine.”

By traveling to these wineries in different countries and working with independent wineries, Franklin can provide products only available through Fly Wines.

“We work with independent wineries from around the world and we bring them to the US exclusively, so all of these wines that you experience through us can only be found through us because we have exclusive partnerships and relationships,” Franklin said.

You can purchase a wine-tasting kit that samples different wines through her website. She also provides a wine subscription program for consumers to try full bottles of wine from the independent wineries she works with. Through the subscription program, members get bottles of wine shipped to them monthly, with shipping and handling already included in the price. Go to Flywines.club to expand your palette and try one-of-a-kind wines today.

“This minority business highlight was composed by Garrett Simms at the Indianapolis Recorder, who can be reached at [317-762-7847] or via email at garretts@indyrecorder.com. If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!”

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