What to do with $ I don’t want

[Anonymous]

I am about to come into an inheritance of about $225k from family money from the Mississippi Delta. The money is largely from land and assets derived from former plantations. My husband and I are not wealthy but we are comfortable enough. Retirements and pensions on track. Kids’ college educations funded well enough.

I don’t want to keep the money and would rather channel it into something better. Looking for ideas of where I could send it.

TIA.

[Anonymous]

I'm sure there are plenty of charities that would be happy to take your money. This isn't hard.

[Anonymous]

Anonymous wrote:I'm sure there are plenty of charities that would be happy to take your money. This isn't hard.

True. I’m looking for ideas on which charities that would turn the bad money around in the opposite direction of where it came from.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sure there are plenty of charities that would be happy to take your money. This isn't hard.

True. I’m looking for ideas on which charities that would turn the bad money around in the opposite direction of where it came from.

Well isn't that what you're doing by giving it away? So just by doing that you've washed away whatever evil you think is tied to it. For example, I bet the NAACP would be thrilled to have it, or an HBCU. Talk about using that money in the "opposite direction".

[Anonymous]

Ooh, I love that idea. Maybe college scholarships to black high school seniors from the South?

[Anonymous]

I would put it in a donor advised fund (at schwab or fidelity or wherever) and just start giving it out whenever you find some group doing something interesting in the news or or on Twitter.

RAICES does great work on the border. West Atlanta Watershed Alliance does cool things with cleaning up waterways in West Atlanta. There are lots of little orgs like that.

With a DAF you can just put the name of the group in the app and Schwab or whoever will send them a check— you can stay even stay anonymous if you want.

[Anonymous]

Give it to an HBCU.

[Anonymous]

Donate to a small HBCU in the south. We do this as well (anonymously) for similar reasons.

[Anonymous]

You are not your forefathers but likewise I think it is wrong to profit off their evil. Donating it to black focused charity IMO absolves you of those sins (but not your forefathers).

NAACP
United Negro College
BLM

[Anonymous]

Wait one year to act. Then like PPs I would direct it to HCBU or similar. But always wait a year after getting any kind of inheritance.

[Anonymous]

Donate to the Mississippi NAACP or an HBCU in that state.

Very noble of you to do this, OP.

[Anonymous]

I would look into health ngos like Delta Health.

[Anonymous]

I agree it is smart to wait a year and think about what you want.

The ideas to help fund HBCU's and scholarships for African Americans are great.

Thurgood Marshall College Fund sounds like a viable option.

Here's a list of organizations helping black youth:
https://www.elitedaily.com/p/where-to-donate-to-support-black-youth-organizations-focused-on-the-future-22973734

[Anonymous]

Generation Hope gives scholarships to parenting college students and supports their kids so they are ready for kindergarten. Many of the students are Black and/or first-generation.

[Anonymous]

Anonymous wrote:With all due respect, you're crazy.

Are you a good person? Don't you live by precepts of earth-friendly stewardship, and teach your children to respect all peoples? Don't you want to build generational wealth for these kids whom you have raised to be caring citizens of the world?

If I were you, I would take the money, and when your children are older, gift it to them in several batches so they can invest when young.
Investing early is how I became wealthy in middle age. Buy and hold is an excellent strategy for stocks, but it takes time to come to fruition.

This is pretty much exactly what OP does NOT want to do -- perpetuate generational wealth built on the backs of slaves.

I agree with PPs -- establish scholarships at HBCUs.