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Business and Finance

Financing multicultural media: New collaboration positions publishers of color as catalysts for equitable community development (The finale of 6 Parts)

“Trusted local information and the people and systems that gather and distribute it are critical infrastructure for communities, just like the people and systems necessary to provide housing, roads, electricity, clean air and water, healthy food, reliable broadband data networks, schools, healthcare and cultural institutions,” Nachison says.

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October 11, 2021 No Comments
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Business and Finance

Financing multicultural media: New collaboration positions publishers of color as catalysts for equitable community development (Part 5)

CDFIs aren’t the only institutions that would benefit from investments in community media. Banks and other lenders, under the Community Reinvestment Act of 1977 (CRA), are required to meet the credit needs of the communities where they do business, including low- and moderate-income communities. The Act was a response to redlining — the discriminatory practice of denying loans to residents and business owners based on their race or ethnicity. Every two to five years, banks have to undergo an audit by federal banking regulators to see how well they are meeting the terms of the CRA. Banks that do not meet the requirements face heavy regulatory scrutiny and can have difficulty getting approval for mergers or expansions.

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October 11, 2021 No Comments
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Business and Finance

Financing multicultural media: New collaboration positions publishers of color as catalysts for equitable community development Part 4

Dynasty Consulting, is a multicultural brand marketing firm co-founded and led by David Beckford, owner operator and advisor to more than 100 African American multi-media platforms including radio, print and OTT platforms. Since 2019, Dynasty has generated more than $1 million for its clients through general advertising, sponsored content, profit-sharing and other strategies and by leveraging their combined reach through the Dynasty Media Portal.

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October 11, 2021 No Comments
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Business and Finance

Financing multicultural media: New collaboration positions publishers of color as catalysts for equitable community development Part 3

The Local Media Association (LMA) has made sustainability for publishers of color one of its four strategic pillars, building capacity through its Digital Transformation Lab, the Fund for Black Journalism, and the Word In Black collaborative. And Local Independent Online News (LION) Publishers through its Tiny News Collective is making critical support more accessible to first time founders that are underrepresented in the news landscape.

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October 11, 2021 No Comments
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Business and Finance

Financing multicultural media: New collaboration positions publishers of color as catalysts for equitable community development Part 1

As part of RJI’s Inclusive Media and Economies Project, RJI, the Multicultural Media and Correspondents Association (MMCA) and Dynasty Consulting are teaming up to help publishers of color tap into community development, revitalization and reinvestment funds, and then use those investments to test new revenue strategies and build more sustainable business models.

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October 11, 2021 No Comments
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Business and Finance

Reinvestment Fund Awarded $60 Million in NMTC Allocations

A nonprofit Community Development Financial Institution (CDFI), Reinvestment Fund pursues a comprehensive approach to strengthening historically excluded neighborhoods and creating economic opportunities for their residents. Its NMTC program is a critical part of its approach, enabling it to support large, high-impact projects that prioritize what the local community actually needs or wants.

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September 18, 2021 No Comments
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Business and Finance

Are Opportunity Zones a blessing or a curse?

Opportunity Zones can truly be a blessing for marginalized communities. If we mobilize financial professionals, real estate investors and entrepreneurs, we can take advantage of the massive opportunity. We can develop a team of investors – who either come from or currently live within the zones – that understands what our neighborhoods are missing.

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September 17, 2021 No Comments
Business and Finance

Expanding Mobile Phone Options a Win for Consumers

Mobile phones are everywhere. In fact, according to data from Pew Research, 97% of Americans now own a cellphone of some kind, with 85% using a ‘smartphone.’ Interestingly, the device that launched the smartphone revolution – the iPhone – was first introduced a mere 14 years ago.

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June 7, 2021 No Comments
Business and Finance

Our path forward to advance equity

The past year has been one of the most tumultuous chapters in recent history for Black Americans, with numerous reminders that systemic racism brings devastating

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May 3, 2021 No Comments