What to do with $ I don’t want

[Anonymous]

Donate it to an org that supports black youth

[Anonymous]

https://www.deltafoundationms.org/about/

[Anonymous]

Op - are you saying the wealth (which tbh is not much at all) was somehow derived from slaves? If that’s factually true, how many generations back are we talking?

I kinda think you are imagining a problem where there isn’t one at all.

[Anonymous]

Anonymous wrote:Op - are you saying the wealth (which tbh is not much at all) was somehow derived from slaves? If that’s factually true, how many generations back are we talking?

I kinda think you are imagining a problem where there isn’t one at all.

" The money is largely from land and assets derived from former plantations." What's not clear about that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op - are you saying the wealth (which tbh is not much at all) was somehow derived from slaves? If that’s factually true, how many generations back are we talking?

I kinda think you are imagining a problem where there isn’t one at all.

" The money is largely from land and assets derived from former plantations." What's not clear about that?

Umm…not clear is slavery was involved, and what era? Plantations exist in the world today. Nothing inherently evil about a place that grows crops.

[Anonymous]

Anonymous wrote: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.

Don't give it to organized charities. The money goes towards marketing and salaries for the most part. Set up a scholarship in your family's name at a high school, a HBCU, or your alma mater for a Black student.

[Anonymous]

I thought you were crazy when I saw the title of your post, but after reading your post I am glad people like you exist.

I think donating to people of color in Mississippi would be a great way to make the money not feel dirty

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op - are you saying the wealth (which tbh is not much at all) was somehow derived from slaves? If that’s factually true, how many generations back are we talking?

I kinda think you are imagining a problem where there isn’t one at all.

" The money is largely from land and assets derived from former plantations." What's not clear about that?

Umm…not clear is slavery was involved, and what era? Plantations exist in the world today. Nothing inherently evil about a place that grows crops.

Please do let me know of a plantation in the Mississippi Delta that was not founded on slave labor.

"Land and slaves were the foundation of the settlement of Mississippi, the heart of antebellum America’s Cotton Kingdom....Large cotton plantations characterized the western counties, where the Mississippi River’s alluvial soils attracted wealthy slave owners willing to pay top dollar for the richest cotton-producing lands. The counties of the Natchez District and the Yazoo-Mississippi Delta boasted many of the wealthiest planters and some of the highest proportions of enslaved people (often more than two-thirds) in the United States."

(https://mississippiencyclopedia.org/entries/slavery-and-settlement/)

But maybe there was a commune of free laborers who collectively founded a plantation in the Mississippi Delta that somehow made OP's ancestor's rich? As a historian, I insist we study that magical place.

[Anonymous]

I would donate it to a struggling but feasible black family owned business. I like the idea of really benefiting one family opposed to benefiting a bunch of people in a small way. Similar to how an inheritance is (or can be) a big boost to one family and change their footing, like allowing them to pay off a debt, buy a house, send kids to college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Here’s how well-off lots of descendants of wealthy former slavers are: they have so many advantages in life and so much wealth that they can give away $225K and it’s no real hit to their bottom line.

OP here again. Exactly. We aren’t rich like my great greats were, but we’re plenty comfortable. We’re comfortable enough to be able to decline that money because it feels dirty. We work for our money, and I’d love for others to be able to be in our shoes.

I love these ideas. Especially the donor advised funds. Anonymous is great. Thanks for the great ideas.

OP, I work with high net worth individuals as a grantmaker; I've done this work for many, many years. I agree with the ideas to 'hold' it for a period of time (perhaps a year), and you can always put some or all of it in a donor advised fund if you need to 'park' the money somewhere and don't want to be 'tempted' to spend it. You might think about making some 'small experimental' grants for a year and seeing how it goes. Are you a reader? I can recommend some books you could get to help you think about the legacy work here. You might also want to spend a few thousand of that money to hire someone to talk with you and help you plan how to spend it in an impactful way. That person could also be your 'go between' if you want to truly remain much more anonymous.

In the realm of donor advised funds, the cheapest fees are usually at Schwab. You could also see if there is a local community foundation in your geographical area and invest the funds in a DAF at the local community foundation. They may have a staffperson you can consult with there, who can help guide you on doing your giving (without hiring someone extra). you have to know that when you set up a DAF, they have a vested interest in getting you to keep money in the DAF/not spend it down.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op - are you saying the wealth (which tbh is not much at all) was somehow derived from slaves? If that’s factually true, how many generations back are we talking?

I kinda think you are imagining a problem where there isn’t one at all.

" The money is largely from land and assets derived from former plantations." What's not clear about that?

Umm…not clear is slavery was involved, and what era? Plantations exist in the world today. Nothing inherently evil about a place that grows crops.

Do you know anything about the history of this country? It appears not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op - are you saying the wealth (which tbh is not much at all) was somehow derived from slaves? If that’s factually true, how many generations back are we talking?

I kinda think you are imagining a problem where there isn’t one at all.

" The money is largely from land and assets derived from former plantations." What's not clear about that?

Umm…not clear is slavery was involved, and what era? Plantations exist in the world today. Nothing inherently evil about a place that grows crops.

You win dumbest on DCUM.

[Anonymous]

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

Great idea! I live in Mclean with my bi-racial son. We could use a few bucks for college next year!

[Anonymous]

I would donate the money to a cause overseas where you get more bang for your buck. Throwing money at some of these problems in the US isn't going to change anything.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Here’s how well-off lots of descendants of wealthy former slavers are: they have so many advantages in life and so much wealth that they can give away $225K and it’s no real hit to their bottom line.

OP here again. Exactly. We aren’t rich like my great greats were, but we’re plenty comfortable. We’re comfortable enough to be able to decline that money because it feels dirty. We work for our money, and I’d love for others to be able to be in our shoes.

I love these ideas. Especially the donor advised funds. Anonymous is great. Thanks for the great ideas.

OP, I work with high net worth individuals as a grantmaker; I've done this work for many, many years. I agree with the ideas to 'hold' it for a period of time (perhaps a year), and you can always put some or all of it in a donor advised fund if you need to 'park' the money somewhere and don't want to be 'tempted' to spend it. You might think about making some 'small experimental' grants for a year and seeing how it goes. Are you a reader? I can recommend some books you could get to help you think about the legacy work here. You might also want to spend a few thousand of that money to hire someone to talk with you and help you plan how to spend it in an impactful way. That person could also be your 'go between' if you want to truly remain much more anonymous.

In the realm of donor advised funds, the cheapest fees are usually at Schwab. You could also see if there is a local community foundation in your geographical area and invest the funds in a DAF at the local community foundation. They may have a staffperson you can consult with there, who can help guide you on doing your giving (without hiring someone extra). you have to know that when you set up a DAF, they have a vested interest in getting you to keep money in the DAF/not spend it down.

OP here. Yes would appreciate book recommendations, thank you! I guess I thought this amount is too small to set up something lasting under my own control. It isn’t millions of dollars. On the other hand, surely it can help some people. Thank you for all of this information. Very helpful!