Joshua's Heart Foundation President Joshua Williams with Charisse Grant of the Dade Community Foundation.

This week on The Urban Business Roundtable, UBR Contributor Renita Young speaks with 9-year-old philanthropic phenom Joshua Williams, the founder, president and namesake of Joshua’s Heart. The mission of this Miami-based non-profit is to “Help Stomp Out World Hunger,” the passion for which was sparked when Joshua, then only five years old, saw a “Feed the Children” program on television. After years of donating his own money (including gifts from relatives) and pressing his mother, Claudia McLean and her sisters to take up the cause of ending hunger, one of Joshua’s aunts suggested that they start a non-profit organization, and the Joshua’s Heart Foundation was born. The foundation’s purpose is to end hunger “in indigent and underprivileged communities, as well as from among those who battle debilitating diseases that affect their ability to earn enough to feed themselves.”

To date, the Joshua’s Heart Foundation has raised more than $80,000 (including a $7,500 grant from the Dade Community Foundation last year) and collected more than 250,000 pounds of food. The Points of Light Institute has recognized Joshua’s Heart with a Daily Point of Light Award. Joshua was also among the young people recognized with a 2010 Stop Hunger Scholarship from the Sodexo Foundation. Joshua pulls up a seat to “The Roundtable” to chat with Renita Young about his foundation and his mission to end world hunger, one meal at a time.

To learn more or to make a donation, visit the Joshua’s Heart web site. For information on starting your own nonprofit organization, read “Nonprofit Insider: 4 Things To Do Before You Start A Charity” and “Nonprofit Insider: Choosing A Board for Your Nonprofit” at BlackEnterprise.com.

Also on this week’s edition of The Urban Business Roundtable, our Executive Producer TaQuoya Kennedy speaks with financial advisor and economic expert Charlotte Stallings. A former vice president of investment strategies and national spokesperson for American Express, the speaker, trainer and coach shares how business owners can change their mindset from frustration and uncertainty to confidence and “finesse” when it comes to managing their finances and operating their businesses.

In addition, every week on UBR, you’ll get motivation and inspiration from author and entrepreneurial icon Farrah Gray, a weekly wrap-up of business news from USA Today Business Correspondent Charisse Jones, our Patient Investor Report from Ariel Investments and key economic intelligence for small business owners from our UBR Economists Derrick Collins and Rasheed Carter.

And finally, I’ll share some important advice for inventors who need help bringing their products, ideas and innovations to market from the November 2010 Black Enterprise cover story “Codename: Inventors.” You can also find more articles for inventors at BlackEnterprise.com.

If you have a question you want answered or a topic you want addressed on The Urban Business Roundtable, send me an e-mail at edmonda@blackenterprise.com or to me at Twitter or Facebook.

Alfred Edmond Jr.

Alfred Edmond Jr. is the editor-in-chief of BlackEnterprise.com and the host of the Urban Business Roundtable, a weekly radio show, sponsored by Ariel Investments, airing CST Wednesdays at 8:30 a.m., Thursdays at 6:30 p.m. and Saturdays at 9:30 a.m. on WVON-AM 1690, the Talk of Chicago. You can also listen live online at WVON.com. Check back each Wednesday for The UBR Morning Post, which features additional resources, advice and information from and about the topics, entrepreneurs and experts featured on the show.

Thanks to a $50,000 grant from the Pepsi Refresh Project–where Pepsi will give away $20 million in 2010 to fund people, businesses, and nonprofits with big ideas that will positively impact the community–EEI has been able to expand its seminars. Now it can include more college and high school campuses and host national events to help more youth and their families achieve financial literacy.  Jackson shared with the Nonprofit Insider these four tips to planning a successful fundraiser.

1) Start planning early. Nonprofits should begin planning fundraising events six to 12 months in advance to allow adequate time to build the necessary alliances, secure venues and sponsors, and develop an event theme that will result in a blockbuster event. Nonprofits should also explore partners that will consider donating space and food in-kind or on an “at cost” basis.  Don’t spend most of your organization’s dollars on food, venues, entertainment and décor (flowers, lighting, audio/video equipment, staging, etc.). The more items you can get donated or at a reduced cost, the more dollars you can allot for actual programs.

2) Form a planning committee. It’s important to assemble a strong and capable team of volunteers to help execute your fundraiser. Be sure to assign clear tasks or create subcommittees (e.g., sponsorships, ticket sales, décor, program) to ensure that all the details are accounted for.  Identify people in your network who are actively involved in the community with their company, sorority, fraternity, school, or other nonprofit organization, who can help you raise funds or enlist volunteers for your event.

3) Develop a list of potential sponsors/donors. You don’t have to start from scratch when reaching out to potential donors. Approach companies, small businesses, and individuals that are familiar with your organization.  Start with board members and members of the planning committee to get a strong group of supporters. Also, develop fundraising ideas that appeal to stakeholders, board members, and other supporters to help rally support behind your event.

4) Showcase the work of your organization. Highlight and celebrate the clients, partners, staff and sponsors that have collaborated to help the organization make an impact. Honoring the people who make the work possible helps make the case for why more dollars are needed for programs.  Testimonials by program participants are also very important. They help sponsors and supporters really see their money at work and know that their donation is making a huge difference.

For more information on raising funds for or giving funds to a nonprofit visit:

Pepsi Refresh Project

Fundraiser Insight

‘Tis Better to Give, But Don’t Get Taken

Uplifting the Next Generation

In the aftermath of the earthquake that ravaged the Port-au-Prince region of Haiti Tuesday, one of the things on many people’s minds is how their friends and families are faring.

According to reports, the quake, which measured 7.0 on the Richter scale, has been followed by aftershocks no weaker in strength than 4.0, so Haitian residents are still currently experiencing the quake’s effects. Several organizations, including Red Cross, Oxfam, and Doctors Without Borders/Médecins Sans Frontières (MSF) sent aid to Haiti this morning and are accepting donations to help save lives and provide food and medical equipment.

President Barack Obama gave remarks yesterday morning saying that Haiti has the full support of the United States in the urgent effort to rescue those injured and provide humanitarian relief. He said that USAID and the Departments of State and Defense would be working closely with its partners in Haiti, the surrounding region, and around the world. Obama also appointed Dr. Rajiv Shah, the administrator of the U.S. Agency for International Development, as the government’s unified disaster coordinator in this crisis and in the future.

Obama directed those trying to locate family members in Haiti to call the State Department at 888-407-4747. If callers get a recording, due to the high volume of calls expected, they are encouraged to call back. He also directed those wanting to learn how they could contribute to the Haitian relief effort to go to www.whitehouse.gov. Obama pledged to the people of Haiti that they will have a friend and partner in the United States, today and going forward.

Haitian-born, Grammy award-winning hip-hop artist and producer Wyclef is contributing to the rescue and humanitarian efforts through his charity Yele Haiti. Those wanting to help can text the word “Yele” to 501501 on their cell phones to donate $5 to the Yele Haiti Earthquake Fund or you can visit Yele.org, click on “donate,” and give any amount you choose. You can also text the word Haiti to 90999 to donate $10 to the American Red Cross.

Some other organizations through which you can donate to the Haitian relief effort are Save the Children, UNICEF, Direct Relief International, International Medical Corps, Partners in Health, and World Vision.

Aid workers, journalists, and celebrities are tweeting and using their Facebook pages to encourage people to donate. Mercy Corps, AmeriCares, Operation USA, CARE, and many other aid groups are using Twitter to direct people to give on their Websites.  Yele, Haiti, and Port-au-Prince were top trending topics.

The Congressional Black Caucus recommended that cash donations be sent to an established relief organization in Haiti right now, since the destruction of ports, airports, and roads will make the distribution of goods difficult. But charitable beware –The Better Business Bureau and the Federal Trade Commission warn against charity fraud as scammers often pop up in times of crisis when donations are widely solicited. Both sites offer a checklist for avoiding charity fraud.

Our instinct toward giving is a healthy one, not just spiritually, but financially as well. One of the common traits of successful wealth accumulators is their consistent habit of channeling a portion of their wealth in support of the institutions and charitable causes they believe in. They understand that investing their resources in community-sustaining institutions, programs and causes creates a healthier and more fertile environment for their own wealth-building efforts. This is the rationale behind the Biblical principle of tithing to your church.

Unfortunately, peak season for legitimate charities (Christmas time, and after major disasters such as Hurricane Katrina or the 9-11 attacks) also happens to be prime time for fund-raising scams, bogus charities and con artists intent on exploiting your giving nature to separate you from your money. If you are serious about building and preserving your wealth, the key to not being taken advantage of is not to be less generous, but to be more thoughtful, deliberate and strategic with your charitable donations. Here are some tips to help you accomplish this objective.

1. Treat your charitable donations as you would any investment. If you invest in a mutual fund, you expect a specific return on that investment. In the same way, when you make a donation to a charity, you want to be sure that your dollars will be used to achieve the result—whether it is fighting the spread of AIDS in the black community or providing relief to natural disaster victims—that you intended it to. You wouldn’t put money into a mutual fund without reading a prospectus and learning about the fund’s past performance and investment philosophy. And you shouldn’t give money to any charity that you are not familiar with and have not investigated for yourself. Make sure you get the actual name, address, and phone number of the charity before giving. Then check it out by going to the IRS website at www.irs.gov, which has an updated list of legitimate charities and non-profit groups, or by calling the IRS toll-free at 877-829-5500. Another useful website is www.give.org, part of the Better Business Bureau’s Wise Giving Alliance. Also check out two great web sites that review and grade individual charities, www.Charitywatch.org and www.CharityNavigator.org.

2. Don’t give on impulse. Many fund-raisers, even legitimate ones, will try to manipulate your emotions (gratitude, guilt and even shame) to get you to give, even it you’re not sure you want to—and before you have a chance to check out the charity for yourself. Don’t fall for it. Only give when you are familiar with the charity and you truly believe in or are passionate about the cause it serves. After all, you can’t give to every worthy cause. If what you truly care about is tithing at your church and fighting breast cancer, don’t be shamed into writing a check to save the environment. Just because it is a worthy cause, does not mean it’s your worthy cause. You have a right to choose which charities get your money without feeling guilty about saying yes to some and no to others.

3. Watch out for charity scams. You will avoid the vast majority of fraudulent and/or unethical fundraising efforts simply by following Steps 1 and 2. Also look out for tricks such as fake charities with names (say, the National Cancer Society, or the American Cancer Association) very similar to well known, legitimate causes (the American Cancer Society). If you do get taken in by a charity scam, contact the Federal Trade Commission toll-free at (877) FTC-HELP. Also report the fake charity to the state attorney general where you live and/or where the charity is located.

4. Avoid giving cash. I believe in only giving by check or credit card. That way, I have a record of my gift, which will be needed if I want to claim the charitable gift as a deduction on my taxes, and especially if I need proof that I’ve been ripped off. Also, I am less likely to give on emotional impulse. Having to take the time to write a check or pull out my credit card will slow me down enough to think about my decision to give before I actually release my dollars. Even after I give, if I have second thoughts, I still have a little time to call my bank or credit card holder to stop the payment. With cash, once it’s gone, it’s gone.

5. Speaking of taxes, make sure you understand the difference between tax-exempt and tax deductible. When organizations, including many charities, gain tax-exempt status, it means the IRS does not require it to pay taxes on the donations it receives. On the other hand, the donation you make to such a charity may be tax deductible for you when you file your taxes. Why is this important? First, before you give, you want to get proof of a charity’s 501(c)(3) status, which says that the IRS has deemed it eligible to receive tax-deductible contributions. Don’t just take their word for it. Second, you need to understand that not every dollar donated to a tax-exempt organization will be tax deductible for you. For example, if you buy a ticket to a tax-exempt charity’s fund-raising dinner for $100, and the actual value of the meal is $40, only $60 of your gift may be tax deductible.

The bottom line: Your charitable giving should be planned and budgeted for just like all of your other expenses. As soon as the New Year begins, determine how much money you plan to reserve for charitable donations for the year, and which organizations and causes you plan to support. That way, you can ensure that you are giving to the causes you really care about, secure in the knowledge that the hard-earned dollars you donate are being used wisely by legitimate organizations. Better yet, you can use my guilt-free, foolproof response to unwanted fund-raising solicitations: “Our family has already earmarked our charitable contributions for this year. However, if you will send me information on your charity and your cause, we will be happy to consider you for next year.”

Alfred Edmond Jr. is the editor-in-chief of BlackEnterprise.com