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(Image: LinkedIn/Karen Hatcher/Screenshot)

ATLANTA BUSINESS CHRONICLE NAMES ARA’S FIRST BLACK WOMAN PRESIDENT AS A ‘WOMAN OF INFLUENCE’
BLACK ENTERPRISE EditorsJanuary 11, 2023

Karen Hatcher, CPM®, CEO of Sovereign Realty + Management, and the 2022 President of Atlanta REALTORS Association, has been recognized for her dedication and commitment to the real estate industry by being named “REALTOR of the Year” for 2022.

She is the first African-American female and African-American-owned company to be awarded this prestigious award since it was established over 60 years ago.

The ARA created the distinguished award in 1960 to recognize the REALTOR® who contributed most to the Association in that calendar year. This recognition is given to those who embody the spirit of the REALTOR®, engage in exemplary civic activity, and show impressive business accomplishments.

Hatcher was the first Black woman to lead the ARA and dedicated her tenure to ensuring that it embraced intentional inclusion with a campaign called “Let’s Dance.” Coined from the phrase, ‘Diversity is being invited to the party, Inclusion is being asked to dance.’ Hatcher focused the organization this year on advancing their strategic plan through inclusion, prioritizing our voices being heard on important real estate industry issues, and working together with industry colleagues, so everyone has a fair chance of attaining The American Dream of home ownership. This would create more housing opportunities and allow future generations to build a legacy of wealth.

In the first six months of Hatcher’s presidency, ARA institution voting rights for local Multicultural Real Estate Affiliate Associations and reinstated that ARA members who actively participate in committees receive voting power. The Multicultural Association representative on ARA’s Board of Directors had their non-voting seats turned into voting seats, enabling the underrepresented constituents a true and full seat at the table on issues impacting communities right now, such as housing affordability, equity, and inclusion. In addition, ARA provided a total of $20,000 to the Multicultural Partner Organizations.

REALTORS are community builders and much more than the transaction. Envisioned by Hatcher in 2021, in 2022, the ARA Board formed the Atlanta REALTORS Impact Foundation (ARIF) to support the awarding of educational scholarships and community charitable giving and received tax-exempt status. $135,000 in funds were donated by ARA to support the Community Excellence Scholarship program and to establish an ARA Care Fund. This year, (10) ten $1,000 scholarships were awarded to local students, and (3) three ARA members in need received a total of $7,500 in Care Funds.

This year marked a momentous occasion for the ARA as their task forces and committees achieved several firsts during Hatcher’s appointment:

The ARA RPAC Subcommittee convened and surpassed their goal for the first time in many, many years, raising a total of $317,450, a 22% increase year over year.
The ARA Diversity Council launched a new initiative that partners new association members with volunteers of diverse backgrounds willing to help them establish stronger connections within ARA.
ARA hosted a virtual interview on The Color of Law: A Forgotten History of How Our Government Segregated America to provide members with a greater understanding of the ways government-sanctioned segregation affected housing options and wealth building historically and in the present.
ARA reached a record of 14,193 members in 2022, a 10% increase over the previous year. Atlanta REALTORS Association is now the 19th largest local association in the country.
The newly formed Affordable & Equitable Housing Committee became one of the largest ARA committees ever, with nearly 160 members, followed by the Diversity & Inclusion Advisory Council and Governmental Affairs Committee, with nearly 110 members on each.
ARA donated $10,000 to NAR’s Disaster Relief Fund.
ARA established relationships with entities that provide complementary services and information that is beneficial for our members, including the Home Builders Association, the Urban League, and HouseATL, to name a few.
Karen states, “This year was monumental for our association in a multitude of ways. From my tenure as president to our restructured operations, adding new key personnel, and our astounding committee work.” She continues, “Our focus for 2022 was implementing our strategic plan through acceptance and putting our voices at the forefront of significant real estate industry issues. I am exceedingly proud of our success. Furthermore, our efforts were unwavering in upholding our NAR Code of Ethics.”

Hatcher’s recognition as the “REALTOR of the Year” reflects her dedication to promoting access to equitable home ownership. She is determined to do so through the 2023 key appointments, 2023 NAR Small Broker Chair & 2023 Co-Chair HouseAtl Homeownership Working Group.

URL of Article
https://www.blackenterprise.com/atlanta-business-chronicle-names-aras-first-black-woman-president-as-a-woman-of-influence/

(Image ULU Ventures)

BLACK WOMAN DEVELOPS FINTECH PLATFORM, RAISES $6.2M IN FUNDING
Stacy JacksonJanuary 11, 2023

This entrepreneur is keeping diversity in mind as she builds her platform.

Physician Ami Kumordzie developed a fintech platform with no experience and a mission to connect consumers with IRS-compliant merchants, urging people to invest in improving their health.

According to Forbes, after the Sika Health CEO observed the flaws within the healthcare system while studying at Stanford University School of Medicine, she decided not to go into residency and got her M.B.A. instead.

“My first job was as a management consultant working for healthcare clients at BCG,” she said adding that the analytical position helped her identify the gap in the market.

Kumordzie was inspired to launch Sika Health after her mother was laid off from her hotel job during the pandemic.

“Even though I have worked in healthcare my entire career, I had to scramble and practically become a tax expert to figure out how she [my mother] could spend these funds before she would lose them,” she said.

“About 70 million Americans are enrolled in FSA or HSA accounts, contributing about $150 billion a year,” Kumordzie said, noting the major loss consumers experience from forfeiting their FSA benefits.

“That’s a real tragedy because it is money people could have invested in improving their health,” Kumordzie said.

“We need more ways to save and tools that help stretch our dollars,” she said. “[Using FSA and HSA dollars] effectively means that you’re buying healthcare at 30% off expenses.”

Kumordzie raised $6.2 million in the early stages of funding.

“The goal was to raise $500,000,” she said. “Within weeks, I surpassed my goal and raised $1.2 million.” Kumordzie reached $5 million later during a seed funding round led by Forerunner Ventures representative Brian O’Malley.

“Having a brand like Forerunner as one of our backers makes a big difference when you’re trying to hire,” Kumordzie said. “It makes a big difference when you’re having a hiring conversation and trying to convince someone to leave their high-paying stable job to take a risk on an early-stage business.”

Kumordzie credits her non-traditional background to the success of drawing venture capitalists.

The fintech founder wanted to be able to hire great tech professionals and eventually, Sika Health was able to hire the founding engineer of the payments team at Etsy.

“Sika is on a mission to ensure customers can access and spend their HSA/FSA funds on items they want, when they want, hassle-free,” the website wrote.”

URL of Article
https://www.blackenterprise.com/ghanaian-woman-develops-fintech-platform-raises-6-2m-in-funding/

Screenshot via YouTube/Eleora Beauty,Inc Products

TEEN WHO SUFFERED HAIR LOSS DURING SICKLE CELL TREATMENTS CREATED PRODUCT LINE FOR BLACK HAIR
Stacy JacksonJanuary 11, 2023

Inspired by her childhood experiences, this 15-year-old was motivated to start a business.

After being diagnosed with sickle cell disease when she was eight years old, teen entrepreneur, Eleora Ogundare, created a line of products through Eleora Beauty to help other Black girls and women maintain their hair.

According to CBC News, undergoing chemotherapy and other treatments for the red blood cell disorder caused Ogundare to experience hair loss. Uncertain of other kids’ reactions at her school, who had nice, long hair, Ogundare and her mother decided to make a quick change and cut her hair off.

“I felt, like, naked almost because, the thing that was like giving me confidence, I didn’t have it anymore. I had to cut it all off.”

“The struggle for them is identity, you know, trying to understand why their hair is not as silky as the next person in her class,” said Ogundare’s mother Eugenia, who helps her daughter run the business. “But then having to lose that hair was a whole different ball game altogether.”

Ogundare and her mother invested time in testing a variety of oils, butters, and creams, before they tried out their own formula, the product they used to launch their line for Black hair.

“One of the problems Black women actually face would be the edges, so that’s the first thing we get, that, ‘Oh, it actually works for my edges’,” Ogundare’s mother said.

According to her mother, the products have accumulated lots of positive feedback, with some mothers saying their daughter’s hair became more manageable after using their formulas.

Salon owner Adedoyin Omotara, sells Eleora Beauty products through her company and the Adoniaa Collective at at Westbrook Mall.

Omotara said she understands the pressure Black kids are under as they become more conscious of their environments.

“Especially for younger people, they need to understand that there are products that can actually work for our hair so that they don’t start to put toxic product in their hair, just to want to look like another Sharon on the street or another Anita on the street,” Omotara said.

Ogundare recently cut her hair again and strives to be an example for Black girls to love their hair no matter its length.

URL of Article
https://www.blackenterprise.com/teen-who-suffered-hair-loss-during-sickle-cell-treatments-created-product-line-for-black-hair/