Enterprise Expands Faith-Based Development Initiative to Texas
Enterprise Community Partners announced that it is expanding its Faith-Based Development Initiative (FBDI) to Texas.
With a $1 million grant from T.D. Jakes Foundation and Wells Fargo, the national nonprofit is aiming to help spur the creation of more than 800 affordable homes on land owned by houses of worship in Dallas, Houston, and San Antonio.
“Across the country, houses of worship own tens of thousands of acres of vacant or underutilized land. As costs for land and housing skyrocket around the nation, Enterprise’s FBDI empowers these community organizations to further serve their communities by creating affordable housing,” said David Bowers, vice president, Mid-Atlantic market, and senior adviser of FBDI. “This initiative is a beacon of hope, offering practical solutions to address the critical need for affordable homes.”
FBDI is credited with creating or preserving more than 1,600 affordable homes, with another 27,000 units in the pipeline, in the Mid-Atlantic since its inception in 2006.
As the program moves into Texas, it will provide financial support and technical resources to faith-based organizations that are considering using vacant or underdeveloped land to build affordable homes and community facilities.
Participants will have access to:
· Grants and capital: Funding to conduct a market study and feasibility analysis for their vision, pre-development support, and access to Enterprise’s capital products;
· Training: Virtual and in-person trainings using Enterprise’s curriculum to help houses of worship understand the ins and outs of the development process;
· Technical assistance and coaching: One-on-one technical assistance provided by development consultants and Enterprise staff to navigate the development process, as well as coaching from clergy who have previously completed projects;
· Access to industry professionals: Information on development professionals, such as architects, accountants, real estate lawyers, and developers; and
· Peer-to-peer learning: Geographic cohorts of faith-based organizations will network and learn from one another as they go through the process of housing development, and a national virtual summit will bring faith leaders from across the country together.
The community is invited to participate in a panel discussion in Fort Worth on Tuesday, June 25, to discuss public safety concerns.
The Fort Worth Tarrant County NAACP and the Fort Worth Alumni Chapter of Alpha Phi Alpha Fraternity are hosting the event.
Organizers said it will be a safe space to discuss community safety issues and work toward solutions. The event will take place at 6:30 p.m. at Potters House Fort Worth.
PEARL, Miss., June 24, 2024 /PRNewswire/ — On Saturday, June 15, 2024, ten small business owners from across the country took to the AT&T Performing Arts Center stage hoping to be announced the grand prize winner of the 2024 Good Soil Forum Seed Capital Pitch Competition. But only one of the ten finalists, Ameka Coleman, founder and CEO of Strands of Faith walked away with the $200,000 grand prize.
“I was completely overcome with gratitude and joy,” Coleman says about the moment her company was announced. “It felt like a huge affirmation of our work. And the cash prize is significant enough to really move the needle for the company,” Coleman states.
The seed capital pitch competition, co-presented by T.D. Jakes Enterprises, Wells Fargo and the Stand Together Foundation, is one of the most generous pitch competitions in the country, awarding a total of $500,000 in cash prizes at one time– and there is no equity stake or repayment.
The pitch competition included a rigorous, multi-layered application process that Coleman began on May 15, 2024. Coleman completed a business plan, prepared a pitch deck, and produced a short video to make it to the top 10 finalists in early June. Once on-site in Dallas, Coleman delivered a live pitch with Q&A before a panel of expert judges.
During her pitch, Coleman shared statistics that amplify the challenges many women face. “Women with textured hair are 2x as likely to face discrimination and microaggressions because of their hair, and that often affects one’s self-esteem,” says Coleman. “I believe all hair textures should be celebrated and that’s why I decided to build a brand to enrich women– hair and soul.”
The day Coleman began the pitch competition application process, she shared on Instagram that she had faith that she would come out a winner. Fortunately for Ameka, her faith did not fail. “I believe in the law of sowing and reaping. I give customers a mustard seed with each product order to encourage them to ‘keep the faith.’ Right now, it feels like those seeds are returning as a harvest,” Coleman affirms.
By faith and hard work over the last six years, Coleman has scaled Strands of Faith to a multi-million dollar brand without any outside investment. In May 2023, Strands of Faith landed an exclusive contract with Premier Inc, one of the nation’s leading hospital suppliers, to supply hair products within its network of 4,400 hospitals nationwide.
Coleman’s business prowess has also garnered her recognition at the national level. In March 2024, Ameka was appointed by the Assistant Secretary of Commerce for Global Markets to serve a four-year term on the Mississippi District Export Council.
As for how Coleman will utilize the proceeds from her win, the grant will enable Coleman to fund two key hires to liaise with hospitals and beauty supply stores and invest in marketing. “Right now, I serve in all the roles– CEO, CMO, R&D, COO, CFO, and business development. I’ve bootstrapped my way to where we are, but it’s time to go to the next level,” declares Coleman. “This funding will help us to scale, and for that, I am incredibly grateful.”
About Strands of Faith
Strands of Faith (SOF) is a clean beauty brand dedicated to nourishing and revitalizing textured hair with cruelty-free, non-toxic ingredients that provide moisture for up to seven days. SOF was founded in 2018 by Ameka Coleman out of her struggle to find products that could maintain moisture for longer than a day. A trained scientist, Ameka leaned on her background in microbiology and clinical research to develop a moisturizing formula free of sulfates, silicones, parabens, mineral oil, phthalates, and paraffin. Now a multi-million company, Strands of Faith has been listed as one of the top 6 brands to buy in People Magazine and listed in “40 Founders Of Black-Owned Hair Care Brands You Should Know About” in ESSENCE Magazine. In May 2023, SOF landed a contract with Premier Inc, to supply hair care products to over 4,400 hospitals nationwide and on June 15, 2024, Strands of Faith was announced as the $200,000 grand prize winner of the Good Soil Seed Capital Pitch Competition. Strands of Faith is on a Mission to bring joy to textured hair while elevating faith within. To learn more, visit: www.StrandsofFaith.com.
DALLAS, May 29, 2024 /PRNewswire/ — T.D. Jakes Enterprises, a social impact company, announced that it is providing small businesses and entrepreneurs an opportunity to compete for grants totaling $500,000 during its 2nd Annual Seed Capital Pitch Competition for which Wells Fargo is the presenting sponsor. The Shark Tank-style competition, part of The Good Soil Forum event taking place in Dallas at the AT&T Performing Arts Center June 13-15, supports minority entrepreneurs by enhancing their skills in crafting investable business plans and impactful pitches.
“This competition is more than just a platform for pitching business ideas—it’s a catalyst for change and a powerful vehicle for empowering underserved entrepreneurs,” said Michael Phillips, Chief Operating Officer of T.D. Jakes Enterprises. “We encourage minority small business owners and entrepreneurs to seize this moment to compete for a share of the $500,000 prize pool, with a $200,000 grand prize. This is a transformative opportunity to drive economic mobility and create generational wealth for communities.”
“We know that small businesses and entrepreneurs are a vital part of our economic ecosystem and supporting their growth is more critical now more than ever,” said Michael Martino, head of Consumer, Small and Business Banking, Diverse Customer Segments, at Wells Fargo. “Wells Fargo is excited to partner with T.D. Jakes Enterprises to accelerate access to capital for small businesses, especially Black and African American entrepreneurs and other minority-owned businesses.”
In 2023, Good Soil awarded $250,000 in grants during the first annual Seed Capital Pitch Competition.
The competition will culminate in the awarding of seed grants to the top entrants, with the first-place winner receiving $200,000 and mentorship from a leading business leader. Other awards include a $100,000 grant for the second place winner, a $75,000 grant for the third place winner, a $75,000 Host grant for the best entry from Dallas, and a $50,000 grant for the most improved participant. Judges will evaluate submissions based on the business plan readiness, results to date, ability to demonstrate how the plan will be utilized for business growth, and the quality of presentation.
Prior to the competition, Chairman T.D. Jakes will continue to host a series live sessions with special guests to discuss entrepreneurship as well as the impacts and demands of growing and scaling a business. Recent special guests include, Wallstreet Trapper, B. Michelle Williams and more found here and here.
Good Soil is dedicated to helping one million entrepreneurs generate $1 million dollars in revenue over the next ten years by providing networking and solutions for growing and scaling businesses. The inaugural Good Soil event held in Orlando last year brought more than 2,500 entrepreneurs together and organically had about 5,000 small business owners and entrepreneurs during that time join the Good Soil network. Currently the Good Soil app has more than 20,000 members and is continuing to grow by providing tangible things that are helping entrepreneurs grow. Wells Fargo and Stand Together Foundation, are co-presenting partners of this year’s event.
Good Soil Forum will feature educational fireside chats, breakout sessions and hands-on workshops in which business leaders can learn and participate in key conversations on a variety of topics from business planning and marketing strategies to financial management and leadership development, equipping them with practical skills and knowledge to elevate their business. The Good Soil Forum will also feature a vibrant marketplace with a diverse array of vendors, from tech startups to artisanal craftspeople, a unique opportunity to network, discover new products and services, and gain inspiration for attendees’ entrepreneurial ventures.
For more information on the 2024 Good Soil Forum, speakers and registration visit: https://www.prekindle.com/event/23773-good-soil-2024-dallas
About Good Soil
Good Soil is a project of T.D. Jakes Enterprises, LLC and a mission to connect entrepreneurs to opportunities in an effort to increase and maintain generational wealth and economic health in our communities. Here, every conversation plants a seed for growth, making every moment an opportunity to bloom into the next phase of small businesses. Learn more about the mission to increase generational wealth and employment by supporting and nurturing under-resourced entrepreneurs by visiting https://www.goodsoilforum.com/
DALLAS, April 24, 2024 – T.D. Jakes Enterprises, a social impact company led by Chairman T.D. Jakes and the brainchild behind the Good Soil Movement, is looking to make North Texas home to a confluence of ideas, events and business-related social hot-spots ahead of Juneteenth and Black Music Month by bringing the annual Good Soil Forum to the AT&T Performing Arts Center in Dallas on June 13-15, 2024. The long-time entrepreneur and faith leader is utilizing the Good Soil Forum as a moment to highlight the nation’s and particularly Dallas’ thriving entrepreneurial, business and cultural scene in turn bringing thousands of people and millions of dollars to the area. Dallas consistently ranks near the top of annual economic studies, across the U.S. that cite the North Texas’ region as being good for small business growth, small business employment and hourly earnings growth. Media credentialing is now open, and applications may be submitted online.
“Our mission within the Good Soil movement is to increase generational wealth and empowerment by nurturing the entrepreneurs that are often under-resourced,” said Michael Phillips, chief operating officer of T.D. Jakes Enterprises. “The Good Soil Forum breaks the cycle of under-resourced entrepreneurs leaving events inspired but unequipped. Thriving despite limited resources, entrepreneurs inspire us. This June we’ll celebrate past and present leaders who built a path for future generations. It’s the first step in a multi-year plan to cultivate a thriving cultural hub for music, entrepreneurship, and innovation in Texas – a space where inspiration meets practical tools to empower business growth and lasting success.”
With the theme of “The Rhythm of Entrepreneurship,” this year will include inspiring keynote sessions in which entrepreneurs can hear from visionary leaders and industry trailblazers for insights empowering attendees to navigate the entrepreneurial landscape with confidence and creativity. This year’s featured participants, panelists in fireside chats and breakout sessions include:
• T.D. Jakes, NAACP Image Award Winning philanthropist and CEO of T.D. Jakes Enterprises
• Tabitha Brown, Emmy Award Winning Actress and NYT Bestselling Author & Entrepreneur
• Pinky Cole, Founder & Owner of Slutty Vegan
• Arian Simone, Co-founder & CEO of the Fearless Fund
• Richelieu Dennis, Founder & CEO of Sundial Brands
• Charles King, Founder & CEO of MACRO
Also serving as an effort to create a convergence of minds and missions, Good Soil Forum will feature educational fireside chats, breakout sessions and hands-on workshops in which business leaders can learn and participate in key conversations on a variety of topics from business planning and marketing strategies to financial management and leadership development, equipping them with practical skills and knowledge to elevate their business. The Good Soil Forum will also feature a vibrant marketplace with a diverse array of vendors, from tech startups to artisanal craftspeople, a unique opportunity to network, discover new products and services, and gain inspiration for attendees’ entrepreneurial ventures.
“Stand Together Foundation is proud to partner with T.D. Jakes Enterprises to help more people realize their American Dream through entrepreneurship,” said Evan Feinberg, senior vice president of Stand Together and chairman of Stand Together Foundation. “If successful, this effort will not only help many people realize their full potential but will demonstrate what’s possible in this country when we change our mindset away from what people lack and toward what they can accomplish.”
T.D. Jakes Enterprises and the Stand Together community are also partnering on an ambitious national initiative to inspire new and growing entrepreneurs in under- resourced communities. The effort is centered around a peer-to-peer platform of entrepreneurs and connecting those on the platform to the coaching, technical support, services, and networks they need to grow their companies.
$500K Capital Pitch Competition
Good Soil will feature the return of the annual Seed Capital Competition, in partnership with Wells Fargo, an opportunity designed to guide entrepreneurs through the crucial stages of business planning and pitching. To further empower minority entrepreneurs by enhancing their skills in crafting investable business plans and pitches, the competition boasts a grand total of $500,000 in grants — increasing from last year’s $250,000, ranking it as the third-highest seed competition of its kind in the United States.
To participate, entrepreneurs must complete the intent-to-enter form in the Good Soil HQ app (free membership) by May 1, 2024 and be part of Good Soil’s Grow community. The final submission deadline is May 23 after which a panel of judges will select finalists to present their pitches live on June 14. The competition will culminate in the awarding of seed grants to the top entrants, with the first-place winner receiving $200,000 and mentorship from a leading business leader. Other awards include $100,000 for second place, $75,000 for third place, a $75,000 Host award for the best entry from Dallas and a $50,000 award for the most improved participant. Judges will evaluate submissions based on the soundness of the plan, results to date, the articulation of how the prize money will be utilized for business growth, and the quality of presentation.
The Good Soil Movement
Good Soil is dedicated to helping one million entrepreneurs generate $1 million dollars in revenue over the next ten years by providing networking and solutions for growing and scaling businesses. The inaugural Good Soil event held in Orlando last year brought more than 2,500 entrepreneurs together and organically had about 5,000 small business owners and entrepreneurs during that time join the Good Soil network. Currently the Good Soil app has more than 20,000 members and is continuing to grow by providing tangible things that are helping entrepreneurs grow. Wells Fargo, Stand Together Foundation, Travel and Leisure are all official partners of this year’s event.
For more information on the 2024 Good Soil Forum, speakers and registration visit: https://www.prekindle.com/event/23773-good-soil-2024-dallas
About Good Soil
Good Soil is a project of T.D. Jakes Enterprises, LLC and a mission to connect entrepreneurs to opportunities in an effort to increase and maintain generational wealth and economic health in our communities. Good Soil Movement is dedicated to helping one million entrepreneurs generate $1 million dollars in revenue over the next ten years. Here, every conversation plants a seed for growth, making every moment an opportunity to bloom into the next phase of small businesses. Learn more about the mission to increase generational wealth and employment by supporting and nurturing under-resourced entrepreneurs by visiting https://www.goodsoilforum.com/ and https://www.goodsoilmovement.com/.
About Stand Together:
Stand Together is a philanthropic community that tackles the root causes of our country’s biggest problems. Alongside inspiring partners, we drive solutions on education, economic opportunity, health care, bridging partisan divides, and dozens of other pressing issues. We can all make a greater difference by uniting on areas of common ground than we can by acting on our own. Learn more at www.standtogether.org. Join us on Facebook, Twitter, LinkedIn, Instagram, and https://www.youtube.com/channel/UCc3LKvNXVjc2NoHHvVFitiA.
DALLAS (KDAF) — Touré Roberts, Assistant Pastor at the Potter’s House Church of Dallas, stopped by the studio to talk with Yolonda Williams about three upcoming leadership conferences in Dallas.
“When you look at our chairman, Bishop T.D. Jakes, he’s extremely broad,” Roberts said. “He’s had obviously an impact on the faith world, but also in the business world, as well as impacting and empowering women.”
Each of the conferences has a unique focus, starting with the International Leadership Summit, which gathers business and faith leaders from around the world. The Good Soil Forum focuses on entrepreneurship, and Women Evolve, founded by Sarah Jakes Roberts, focuses on women’s empowerment. All three events will take place in Dallas, which Roberts said is becoming an increasingly popular city.
“Dallas is a hot, booming city,” Roberts said. “Because of the opportunities, because of the diversity. We brought it here because one, it’s our home base. But we’re also seeing some of the trends in the migration — a lot of professionals, companies are coming here…We thought it’d be a good place to do it in our own backyard.”
Roberts said the conferences offer the chance to learn from some of the best in the business.
“The diversity of voices, the diversity of expertise…I just the fact that I can come to one place and get a wide range of experience and expertise from some of the brightest minds in the world.”
DALLAS – In what some consider an outdoor pulpit, Bishop T.D. Jakes and dozens of volunteers at the Dallas mega-church The Potter’s House are impacting thousands.
“Food insecurity, it’s a big problem all over the world, and so we’re serving over 2,000 families today with these family meal boxes,” Tiffany Brinkley said.
The view from SKY 4 revealed a massive line of vehicles, a sight that, perhaps, reflects the magnitude of an overall struggling economy.
“About half an hour [wait], yeah, not bad,” Sandra Pierce Bardwell said. “We actually started right off the ramp of the expressway, so it took us a while. We saw the people in front of us and there was a line behind us.”
Late Wednesday morning, people were waiting, eager to receive a donation of groceries or what they call a tremendous blessing.
The drive-thru food distribution is ‘United Mega-Feast,’ an effort made possible through the church’s charitable division, United MegaCare, and a corporate sponsor.
“We have at least 2,000 meal boxes, but the content in the box, it feeds up to a family of six, so today, we’re going to be able to impact over 12,000 people with these food boxes,” Brinkley said.
James Grant was among those who consider the donation a tremendous blessing.
“I’m grateful for this because what I’m going through at this moment, without this, I wouldn’t have anything, seriously,” Grant said.
The sentiment is echoed by many who are happy to receive nutritious staples.
“We have meats, we have vegetables. We have like chicken breasts, ground beef, we have corn, greens, green beans, mixed vegetables,” Brinkley said. “It’s something huge for us and we’re just glad we’re meeting a need.”
1. Howard University — $1 Million
Howard University in Washington, District of Columbia has received a nearly $1 million grant from Gilead Sciences to increase HIV prevention, anti-stigma, and health equity efforts for Black cisgender and transgender women. The funds will support a collaborative effort between the historically Black university and HealthHIV, focusing on engagement and awareness through artistic endeavors such as podcasts, blogs, fashion shows, and workshops geared towards Black women.
2. North Carolina Central University — $300,000
The School of Education at historically Black North Carolina Central University has received a $300,000 grant from the Branch Alliance for Educator Diversity to support its existing collaboration with Durham Public Schools.
The partnership aims to recruit and prepare diverse, qualified teachers who are equipped to address the needs of racially, ethnically, linguistically, and culturally diverse students.
3. Clark Atlanta University — $225,000
The HBCU Executive Leadership Institute at Clark Atlanta University has been awarded a $225,000 grant from the W.K. Kellogg Foundation. The grant will enhance the institute’s scholarships, mentoring programs, and leadership workshops, to create a pipeline of qualified HBCU executives.
4. Wiley University — $150,000
Wiley University, a historically Black college in Marshall, Texas, has received a $150,000 grant from the T.D. Jakes Foundation and Wells Fargo. The funds will support the university’s Financial Literacy Wellness Center, which aims to help Wiley students achieve greater financial freedom.
Congratulations to all the HBCUs for these outstanding contributions!
SOURCE HBCU Buzz
BALTIMORE (February 26, 2024) – La Cité Development, LLC, an award-winning real estate development corporation, and T.D. Jakes, global leader and noted entrepreneur, announced their plans to fuel future growth in Baltimore, Maryland, with plans for expansion across the U.S.
As the Chairman & CEO of the T.D. Jakes Group, a global conglomerate dedicated to solving society’s problems through strategic alliances that create equity and provide solutions for underrepresented and underserved communities, Jakes’ investment in La Cité’s plans for Baltimore demonstrates Jakes’ continued effort to create local and national social impact, making La Cité an ideal ally in Jakes’ mission to address housing disparities across the U.S.
The investment within La Cité from Jakes marks a pivotal moment in the ongoing transformation of West Baltimore’s Poppleton neighborhood. The premise of the initial investment between Jakes and La Cité’s President Dan Bythewood, is their joint commitment to address the fundamental issues and challenges facing underserved and underrepresented communities with the objective of developing sustainable and thriving communities.
Ongoing and recent statistics and data on the city of Baltimore underscore the urgent need for progressive housing solutions in the city. The lack of affordable and accessible housing has become a pressing concern for residents, contributing to socio-economic challenges and hindering the city’s growth potential. With a vision to address these critical issues, La Cité’s investment from Chairman Jakes has placed La Cité in a position to be one of the torchbearers for transformative initiatives in this region.
“I believe in the power of investments to bring about positive change. As the nation reflects on the history of Black Americans this month, we celebrate not just our past but also the strides we are making towards a brighter future. By addressing housing issues, we are contributing to the ongoing legacy of empowerment and resilience that defines Black history”, remarked Jakes. “As leaders in our community, I recognize the responsibility we bear in contributing to the betterment of our communities. This investment is not just about housing; it’s about creating opportunities, empowering families, and leaving a lasting legacy for generations to come.”
The announcement represents the latest in the ongoing transformation of the West Baltimore Poppleton neighborhood with new residential and retail projects by La Cité Development, the Black-owned MBE master developer of Center\West.
“It is my great pleasure to welcome T.D. Jakes as a strategic investor to La Cité Development and our transformative Center\West development, which comes at a time of significant momentum for the company. Through a shared vision, we aspire to harness our unwavering commitment and execute impactful initiatives dedicated to rejuvenating neighborhoods and fostering lasting change.” said Dan Bythewood, President and Co-Founder of La Cité Development.
As an established and progressive leader in global markets, La Cité has brought distinct value in the local community by investing so far over $102 million in the Poppleton area with its first two mixed-use buildings that are home to both market rate and affordable rental units, contributing to a significant increase in home values and a 40% reduction in crime.
Recently, Jakes’ own real-estate development company, T.D. Jakes Real Estate Ventures (TDJREV), announced plans build two affordable housing developments in South Florida. One, located in Hallandale Beach, 20 miles north of Miami, will be comprised of a multifamily, mixed-income development featuring 200 units on five acres at the center of a historic Black community with limited affordable housing options. The second, will be a senior living development in Miami Gardens that will house 150 units on seven acres, featuring a clubhouse and walking trails.
Jakes’ TDJREV is a Dallas-based real estate company dedicated to implementing T.D. Jakes’ vision of creating attainable and sustainable communities in a global marketplace and developing 21st Century solutions to address rudimentary needs in targeted communities with a focus on economic development, job training, financial literacy and education enrichment. Its real estate portfolio includes Capella Park, a 400-plus acre community in south Dallas that includes single-family homes, live-work space and a pre-k-8 school.
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About La Cité Development:
Founded in 2001, La Cité Development, is an award-winning real estate development corporation investing in strategic real estate ventures in the US and abroad, which has built a portfolio in affordable housing, multi-family and hotel development. La Cité’s philosophy embraces investment in neighborhoods that have been largely overlooked and promotes developments with a strong commitment to providing transformative change in the lives of local communities.
For more information, please visit La Cité Development https://lacitedevelopment.com.
About T.D. Jakes & T.D. Jakes Group:
T. D. Jakes is a global philanthropist, one of the world’s most revered communicators, a New York Times bestselling author and serves as Chairman and CEO of The T.D. Jakes Group.
The T.D. Jakes Group is a global conglomerate that’s worked for more than four decades at the intersection of mission, ministry and marketplace to solve society’s problems through strategic alliances creating equity and providing solutions for underrepresented and underserved communities. The organization’s four pillars operate globally: T.D. Jakes Enterprises is a civil rights award-winning social impact holding company reaching millions through entrepreneurial training, minority business accelerator initiatives and trailblazing representation in streaming unscripted series, film, music and publishing that has grossed over $500 million worldwide through original entertainment content; T.D. Jakes Foundation is building bridges by unlocking the power of global competition through workforce training that prepares workers to compete in today’s economy through STEM/STEAM education, financial literacy and inclusion, and a laser focus to close the racial wealth gap and support minority women in corporate leadership; T.D. Jakes Real Estate Ventures is actively developing sustainable communities with a focus on economic development, eradicating food deserts and opening doors for home ownership and wealth building where none existed before.; T.D. Jakes Ministries is a faith-based international organization who’s inspiring content is translated to over 90 languages each week, and whose returning citizen advocacy work has helped over 30,000 individuals create lasting, generational change.
Learn how the T.D. Jakes Group is creating a more equitable society through innovative concepts and disruptive partnerships by visiting tdjakes.org/newsroom.
Forbes reports a groundbreaking collaboration aimed at addressing societal challenges and revitalizing forgotten communities. On Feb. 7, renowned pastor T.D. Jakes and Wells Fargo announced a $9 million grant initiative. The partnership, born out of a shared commitment to social impact, seeks to bring positive change to underserved areas, emphasizing financial literacy, affordable housing, and community development.
T.D. Jakes, founder and pastor of The Potter’s House, had proposed a foundation to address sociological issues four years ago, estimating a need for $100 million. Undeterred by the absence of immediate funds, Jakes, known for his faith-driven initiatives, went public with his vision in January 2020.
“I’m not normal. I stepped out on faith,” said Jakes of his belief in the transformative power of faith.
The partnership includes a significant financial commitment from Wells Fargo, the $9 million grant is intended to aid in revitalizing marginalized communities, particularly Black and brown neighborhoods. The announcement specified a $500,000 allocation to Augusta, Georgia’s Laney Walker neighborhood, where plans include the construction of a much-needed grocery store.
Last year, the collaboration between the T.D. Jakes Foundation, T.D. Jakes Real Estate Ventures, and Wells Fargo crystallized into a $1 billion investment initiative. The multifaceted approach aims to refurbish underserved areas, fostering economic growth and community well-being. Jakes envisions combating financial disparities through increased financial literacy programs and addressing issues like predatory payday loan businesses.
“Incrementally, we will attack some of the issues,” affirmed Jakes, who has already initiated mixed-use real estate development plans in South Florida, including senior housing. Notably, the pastor has enlisted the support of billionaire Tyler Perry for a project around the Fort McPherson military base in Atlanta.
The combined developments in Atlanta and Florida are projected to include 2,000 homes, with plans to build an additional 10,000 nationwide over the next five years.
Jakes emphasizes his commitment to creating opportunities for Black Americans and empowering communities.
“For years [Black Americans] had people making decisions about us without us,” Jakes said. “And often, even when well-meaning, it’s been to our detriment.”
Addressing concerns about Wells Fargo’s historical relationship with Black Americans, especially regarding mortgage discrimination, Jakes expressed trust in the bank’s current leadership. He noted CEO Charles Scharf’s commitment to rectifying past issues and emphasized the ongoing endeavor to build equity, opportunity, and affordable housing.
“I’m here to represent our people in an ongoing endeavor to build equity, opportunity, to build a commodity of affordable housing,” Jakes said. “Wells Fargo is standing alongside to provide capital.”
