Building Wealth, Building Community

Takeaways from a powerful conversation

(August 28, 2025) The Community Foundation’s Powered by Us: Black Generosity in Memphis Symposium brought together givers, leaders, and community members to uplift, center, and celebrate the voices of Black philanthropy. Among a half-day of inspiring sessions, attendees convened for a lunch panel guided by national expert Crystal Thompkins of Daylight Advisors. Panelists Carolyn Chism Hardy, Jennifer Hardy Richardson, and Bill Bynum offered hard-earned wisdom on building wealth within families—and how that wealth fuels generosity across generations.

Early in the discussion, entrepreneur Carolyn Chism Hardy dispelled the myth that there’s always “plenty of time” to build wealth. “Start early. Save early. Be consistent,” she urged, reminding the room that waiting until life feels more stable is rarely the best strategy. Her daughter Jennifer Hardy Richardson, president of Industrial Sales Co., echoed the importance of starting with children—teaching them the cost of choices, modeling healthy financial habits, and involving them in conversations about saving and investing. “My love is free,” she said with a smile, “but nothing else is.”

Bill Bynum, CEO and founder of HOPE, broadened the conversation to systems and communities. He reminded us that Black families give at higher rates than any other group, but wealth disparities mean those gifts are often smaller in dollar amount. “Ownership, savings, and education are the tools for building wealth,” he said. “And we must remember that building strong families requires building strong communities—safe neighborhoods, quality schools, and access to healthcare.”

Throughout the symposium, the panelists emphasized transparency, consistency, and partnership. Teaching children to manage money, pooling resources to support neighbors, investing in businesses that reflect community values, and choosing financial institutions aligned with those values all emerged as powerful strategies.

One common thread was clear: wealth-building is not just about individual gain—it is about sustaining families, strengthening communities, and creating the conditions for generosity to thrive. As Thompkins summed up, “Partnerships, relationships, connecting—that is community. And community is where generosity begins.”

The Symposium left participants with both inspiration and practical takeaways: start early, talk openly about money, invest in values-aligned institutions, and build wealth not only for your family, but for your community.