Tag: momentum leaders

Momentum Fundraiser with Holland and Birch

The holiday season is a time for giving and spreading cheer, however, with that comes the stress of finding the perfect gift for your loved ones.  Are you having trouble finding a gift for a special woman in your life? Momentum has you covered! We are thrilled to announce our fundraiser with local jewelry company, Holland and Birch.

Holland and Birch’s special Momentum pieces include a bracelet, brass cuff, and charm necklace, or the option to purchase just extra charms to add to your own jewelry collection. The best part is, each piece can be stamped with your choice of Momentum phrases like Momentum, Upward, Breathe, or even your Class Number to name a few options. They are simple enough for everyday wear but are a thoughtful statement to celebrate the women in your life and in our community.

Momentum is dedicated to advancing not only professional but personal development of women leaders across Alabama. We strive to create an empowering and uplifting community for women to use as a resource so they are equipped to make an impact in their own communities wherever they go. All proceeds from the sales of the Holland and Birch Momentum collection will go towards providing scholarships for women participating in Momentum’s programs. Without the community’s support, we would not be able to continue building upon the powerful network we have created across the state of Alabama.

 

What Women Business Leaders Should Know About Taxes, Loans, & Grants

Katie Roth is a writer, artist, and entrepreneur. Originally from Alabama, she now resides in the UK with her husband and two dogs, and works with clients and other business owners in Europe and the USA.

Women in business still face too many hurdles, and unfortunately 2020 has only exacerbated them. Common issues like securing adequate funding or accessing much-needed resources have been complicated by the coronavirus. COVID-19 has brought about unprecedented challenges not just for women, but for the global business community. As we all learn how to manage our new reality in 2021 and look forward to a slow emergence from the grips of the virus, it is time for people to give real thought to how they might bring about new success in business once more.

It’s with that in mind that we’re looking at some important things Alabama’s women business leaders should know regarding taxes, loans, and grants.

Taxes

Regarding taxes for business leaders, there aren’t necessarily points to make that are specifically relevant to women. However, there are some simple reminders worth keeping in mind for anyone who is starting or attempting to grow a company.

The first reminder is that Alabama is considered to be a particularly favorable state when it comes to personal tax — which can free up some funds to manage business expenses. Just this year, an article ranking state income tax rates listed Alabama in a tie for 10th place (meaning 10th lowest), with a rate of 2-5%. Given that some states have personal income tax rates of 10% or more, it’s a good idea for women to consider launching businesses in Alabama. The slight but meaningful financial cushion allows for more business investment opportunities.

Additionally, registering as an LLC can compound the benefits you get from the favorable tax situation. LLC structure in Alabama is such that a business with this sort of official standing is actually not taxed as its own entity. Instead, owners simply pay income tax on what they make from the business. This means that rather than having a hefty, separate tax on business earnings, you can simply enjoy that same 2-5% rate on business-related income. That said, LLCs are subject to something known as a “business privilege tax,” which relates to the company’s net worth. Still, it’s worth running the numbers on the idea, because particularly for a newer or smaller businesses, the net benefit of the LLC structure can be significant.

Loans

Where loans are concerned, Alabama is again an appealing state for new, small businesses. Recent years have seen lenders give out nearly $1 billion in loans to small businesses— spread out over more than 50,000 individual arrangements. These numbers, given the size of the state and the number of people working in small businesses, justify the notion that Alabama has actually been one of the better states to secure a business loan.

As for specific loan funding for women-led businesses, we’d recommend keeping an eye on a Birmingham support program known as “Upward,” which was designed specifically to help women leaders in business — particularly now as we all look to move forward from COVID. It’s just the sort of resource that has become invaluable to such leaders in communities where women in business are seizing more opportunity — offering leadership coaching, help with goal setting, network support, and more.

Grants

In the grant department, there is more business aid to be found with specific regard to the coronavirus crisis. In July, we saw the announcement of the $100 million “Revive Alabama” grant, which was designed to help fund struggling small businesses. The $100 million was pulled out of $1.9 billion that Alabama received in total from the federal CARES Act, and it was made available to businesses earning less than $5 million annually and employing no more than 19 people. The hope is that additional grant packages of this sort will be made available to small business leaders once again if and when the federal government signs off on another relief package.

There are also some more accessible grants available. Most notable among these is the Amber Grant. Launched by WomensNet, this is a $10,000 grant given out to at least one woman in business each and every month. It also involves an additional $25,000 bonus given to a single “winner” at the end of each year. It’s an excellent example of what a program meant to stimulate innovation among women entrepreneurs can look like.

Funding a business and managing its finances is difficult, but for women in Alabama looking to endure the coronavirus and thrive in business thereafter, being aware of everything discussed above can amount to a helpful head start on the financial front.

Giving Tuesday

The much anticipated holiday season is finally upon us! Going into Thanksgiving this week, we move into a time of reflection and giving thanks despite the unexpected year 2020 has brought us. While many people look forward to the spread of food on the table on Thursday, and the chaotic shopping Black Friday and Cyber Monday bring, here at Momentum we look forward to Giving Tuesday. If you aren’t familiar with Giving Tuesday, it’s a global generosity movement and a day of giving to the organizations that work towards transforming their communities.

One way you can support Momentum Leaders this #GivingTuesday is to make a contribution to support women in leadership. Momentum relies on community support in order to continue our premier leadership programs and offer events within the community. Without this support, we would not be able to operate as a resource for women in leadership in the Birmingham area.

Another way you can support Momentum is to volunteer. Momentum is always looking for volunteers to help with our various events and programs. If you are interested in serving the Birmingham community by partnering with Momentum, be sure to check out our volunteer interest page on our website for more information.

Please consider supporting Momentum during Giving Tuesday 2020. Your gift will help us to continue to advance women in leadership as they continue to make an impact in their own communities.

Introducing Our First Podcast Guest

We’re less than a week away from our podcast launch, and we couldn’t be more excited. The most challenging part of creating the podcast was the editing. CEO April Benetollo and civil litigator Liz Huntley had such a rich discussion on the important topics of early childhood, race, and equity that we struggled to pare it down into a digestible podcast.

Huntley shares Momentum’s goals of equity and inclusion. “We’re always better when we’re at the table with diverse opinions, diverse views, diverse experiences, diverse demographics, because when we bring all of those together it lets us be the best we can be whether it’s a company or a law firm. My biggest advice is that there’s no stopping point. The Sky’s the Limit. Follow your Passion. Do what it is you want to do.”

Momentum is a longtime admirer of Huntley. We recently awarded her a Woman of Impact award at our Vision 2020 Conference in March. She received this award based on her commitment to not only her own work as an attorney, but also as CEO of a nonprofit, The Hope Institute, that works with schools to develop character education curriculum/programs. She shared her inspirational story in More Than a Birdand she continues to share her message and story across the country through her advocacy work.

Huntley has appreciated education since she was a child herself. She took comfort in reading and gained encouragement from her schoolteachers. In the books she read, she realized that people like Abraham Lincoln found their voice as a lawyer, and in this profession, they were able to make lasting changes. Her drive, along with her dedication, natural intellect, and hard work, propelled her to graduate as Valedictorian of Chilton County High School, earn a full ride to study political science at Auburn University, and graduate with a J.D. from the University of Alabama Law School, after serving as an editor for their Law and Psychology Review. 

As an advocate for children, she serves on multiple boards of directors and trustees for various nonprofits while running The Hope Institute. She believes community engagement is a powerful force. Being a game-changer is all about recognizing that moment in time where you have the ability to do something that’s really going to impact somebody’s life. It doesn’t have to be an isolated moment, although many times it can be. How you seek out those game-changing moments is through community service; that’s where they happen, in nonprofit organizations that serve families or children or whomever.” When she was a child, she participated in an early childhood education program, funded by a grant for her community, so she truly appreciates the lasting impact of programs she now offers through her organization. 

Interested in learning more about our other podcast guests? Click here to meet Myla Calhoun and Bobbie Knight.

Madam Vice President

Kamala Harris walking alongside a young Ruby Bridges. Photo by artist Bria Goeller.

The glass ceiling was shattered last Saturday as Kamala Harris was announced as the first female vice president-elect in U.S. history. Not only is she the first woman, but also the first Black and South Asian American that will hold the position. All politics aside, it’s important to recognize the history being made right before our eyes. The representation and diversity Harris will bring to the White House alone is reason enough to celebrate this historic win no matter your beliefs, gender, background, or political alignment. She’s broken through the barricade that women have been stuck behind for centuries, along with those women that paved the way before her like Harriet Tubman, Ruby Bridges, Shirley Chisholm, and Ruth Bader Ginsburg to name a few. 

This election year happens to fall on the 100th anniversary of the 19th Amendment, which established American women’s right to vote when it was ratified on August, 18th 1920. While the ratification of the 19th Amendment was a huge step for women, it has proved to be only the beginning of a long-winded fight for equality that we are still fighting for today, 100 years later. During her acceptance speech, Kamala Harris stepped out onto the stage in an all white suit. Her suit was much more than a fashion statement — it was a deliberate choice, standing as a recognition to those women who came before her and those who will come after. White has long been recognized as a color of purity and hope and is associated with the suffrage movement dating back to 1913 when 8,000 women wore white to march in Washington D.C. the day before President Woodrow Wilson’s inauguration. They did this to protest and demand an amendment allowing women the right to vote. Since then, there have been numerous occasions where women holding political positions wore white as a nod to those suffragettes who came before them and essentially paved the way to where they are today. 

While Harris recognized the ones that came before her, she also brings a new hope to the future generations of leaders to come. By having diversity — not only with gender, but race — well-represented in leadership positions within our country, inspiration is created for younger generations to know that their voice can be heard; they are more than capable of achieving their goals, whether that be running for president of their 8th grade class, or running for President of the United States. During her speech she stated, “While I may be the first woman in this office, I will not be the last – because every little girl watching tonight sees that this is a country of possibilities.” Harris did not become the first female vice president-elect without continuing the legacy of the women before her, and now the little girls who dream of being a leader can use Harris as a stepping stone on their own ladder to success. 

Women should not still have to fight for equality in this country, especially 100 years after we were granted the right to vote. However, we will continue the fight until everyone recognizes the capability and power a woman holds.  As the Notorious RBG said herself, “Women belong in all places where decisions are being made,” and that is exactly where we will be from now on.

Birmingham’s Moving Upward

It can be difficult to stay motivated as we push on toward a world without COVID. We may be biased, but we’re pretty proud of how our leaders are making a difference in our city. Our Upward program was created specifically for women in the beginning of their career to develop the next generation of talented leadership. Here’s just a few of our Upward alumnae who work diligently to create dynamic change.

  • Lauren Leach, Associate Vice President of Planning & Population Health, UAB Medicine
    • Leach has been working to coordinate unique solutions for working parents during the pandemic. After recognizing the need for childcare assistance for over 1,000 UAB employees, she helped strategize short-term relief.
  • Lee Thrash, Donor Relations Manager, United Ability
    • When United Ability closed due to COVID, she had to adapt quickly to continue promoting their cause. “…everyone had to change the way they operated. It really showed us all how amazing the participants in United Ability’s programs, the staff, and families really are – how much we all care for each other.”
  • Monica Aswani, Assistant Professor, School of Heath Professions, UAB
    • Dr. Aswani joined COVID taskforce UAB United on the Incident Command Committee to help flatten the curve of COVID cases.
  • Brenessa Lindeman, Associate Designated Institutional Official for the Clinical Learning Environment, UAB
    • Medical care is a valuable resource during the pandemic, and efficiency is of the utmost importance. Lindeman worked to introduce new technology at UAB that adds apps to patients’ electronic records so clinicians can provide improved patient care.
  • Britney Summerville, Vice President of Community Engagement, Shipt
    • Summerville founded Birmingham Bound, a program aimed at growing Birmingham’s tech community. “The organization is also ‘spreading the word across the nation that Birmingham is a tech ecosystem that should be on their radar,'” according to Summerville.

Get Woke with Your Vote

As the election nears, social media platforms have become inundated with voting content. Although advancements in technology have made voting information more accessible than ever before, it can still be confusing to find the deadlines and addresses you need in the sea of posts. Whichever side of politics you’re on, one thing is clear: this election is incredibly important. It’s been over 100 hundred years since the last pandemic struck the US, and the elected president will influence the outcome of the current pandemic in our country.

Only half of all eligible voters in the US exercise their right to vote. Convincing these voters to participate in the upcoming election is daunting, but powerhouse Birminghamian Dejuana Thompson is determined to make a difference. After a stint as Senior Advisor for the Small Business Administration, Thompson founded Think Rubix, LLC, which works alongside nonprofits, businesses, and governments to enact social change.

One of their projects is Woke Vote, works to, “invest in the activation, long-term engagement, training and development of new organizers, and mobilization of historically disengaged voters of color.” Data-driven research has proven their tactics have resulted in unprecedented increases in voter turnout.

Their program has gained national acclaim as a proven catalyst for voting, and their focus on community engagement couldn’t come at a better time. Recent racial unrest both locally and nationally is discouraging and overwhelming, but people now have the opportunity to elect politicians who reflect their values and opinions.

Still unsure of your voting status? We’ve gathered some resources to ensure you have the information you need!

  • Confirm your registration status and/or find your polling location here
  • Find your elected officials here
  • Here are the official amendments included in the Alabama ballot. Want an easier to read version? WBHM explains them here
  • Any additional questions? Rock the Vote has all the answers

How to Fit a Retreat into a Basket

Momentum’s executive programs usually begin with a two-day retreat, relaxing near a forest or pond. This year, we had to get creative in welcoming our new class! With a little help from Alabama Goods, Momentum logistics manager Katherine Thrower arranged locally sourced happies to create a “retreat in a basket.” Unlike the traditional fruit basket, each item had meaningful significance that was referenced in our sessions (don’t worry…we made room for snacks!). The whole Momentum team took part in dropping off baskets at each participants’ house to ensure they would feel celebrated!

“The retreat is about making them feel special because they are special,” says CEO April Benetollo. Each participant was analyzed based on their background, professional experience, and stage in life. If they were selected this year, “it’s the right time for them to be doing this.” This well-rounded group connected in breakout sessions and interactive activities to start the year off right. While the retreat focuses on emotional intelligence and awareness, the executive program shifts into different themes throughout the year.

Have you ever wondered what makes Momentum’s programming unique? We don’t just proofread your resume and send you on your way with a handout on teamwork. Momentum was founded with the goal of creating intentional relationships and personal growth.

  • The retreat sets the forecast for the rest of the year, asking participants, “Who are you?”
  • The next quarter focuses on the participant’s strengths and talents, asking, “How could you be directed to bring you more joy and value to your job/community?”
  • After that comes the real work. “How do you get there?” Momentum offers negotiation skills and resilience training to prep participants for the final stage.
  • Looking forward, the question remains, “How do you take that beyond you? What can you bring to your job, community, family, etc.?” Participants are encouraged to volunteer or join a local board to become more engaged with their community. In terms of professional growth, class members learn tactics to claim visibility, accept recognition, and share expertise with future game-changers.

Whether you’re in a program or not, Momentum has a place for you! Join us as a mentee or mentor today to meet more inspiring women in your community.

Until There Are Nine

Ruth Bader Ginsburg was notorious for her persistent fight to advocate for women, but her legacy goes beyond the work she accomplished as a Supreme Court justice, and she was not always esteemed for her fierce determination. As a student at Harvard Law School, she was criticized for “taking a man’s place,” even though she ended up tying for first in her class. Many women in the US are currently struggling to work from home while managing their children’s schoolwork. The Notorious RBG was no stranger to this dilemma. When her husband was diagnosed with cancer while they were both in law school, she took all of his notes and typed all of his papers in addition to her own, all while taking care of her newborn daughter. She faced discrimination in the workplace and had a hard time finding a job, but once she got started, she was on a roll.

Ginsburg, like most women, was also scrutinized for her personality. She was too serious, too forgiving. Too progressive, not progressive enough. Her appointment was eventually supported by feminists, but some gawked at her close friendship with the late conservative justice Antonin Scalia. Their relationship served as a reminder to the country that relationships can transcend political boundaries. They frequently traveled together, attending operas and riding elephants. However, his views did not bleed into hers, and she went on to become the leading liberal justice on the Supreme Court.

She was an expert of making the most of what she had. As a frequent member of the minority vote in the Supreme Court, she made history for her eloquent dissents, some of which eventually inspired new laws. Some of the highlights of her legacy precede her time in the Supreme Court. She co-founded the Women’s Rights wing of the American Civil Liberties Union, became the first tenured female law professor at Columbia, and co-founded the first women’s rights law journal, all during the 1970s, when most boardrooms had no room for women. In her later years, she became a pop icon, inspiring teens to become politically involved as she demonstrated her workout routine on late night television.

Ginsburg inspired men and women both through her actions and her words. As the second woman to ever be nominated to the US Supreme Court, she knew that it would take serious work for women to be effectively represented.

“When I’m sometimes asked ‘When will there be enough [women on the Supreme Court]?’ and I say ‘When there are nine,’ people are shocked. But there’d been nine men, and nobody’s ever raised a question about that.” -Ruth Bader Ginsburg

Although she is no longer with us, her story is not over. Her work continues to inspire efforts toward representation and equal pay. She persisted, and we must continue to persist.

Finding Financial Confidence

As COVID continues and stimulus checks remain unpredictable, it is more important than ever to find financial stability and security. DeLynn Zell, CEO of Bridgeworth Financial, gave a detailed presentation last month on how to control personal finances during the COVID crisis. Some of her suggestions include creating a budget, establishing savings, and making a financial plan. 

Unfortunately, women have historically earned less than men. “Women are three times as likely as men to say they can’t afford to save for retirement and have significantly lower rates of financial literacy. Women also make up the majority of caregivers, and are three times more likely than men to quit their jobs to care for a family member.” Despite men spending more time working from home, women are still bearing the brunt of the labor. According to Forbes, mother’s work hours fell four times as much as father’s in April, widening the already existing gender gap. Most men worked the same amount of hours, but women were expected to take on additional caregiving and homeschooling responsibilities. The future remains uncertain, but women across the country are finding unique ways to support each other. 

Here are some ways women are gaining strength:

  1. Being vulnerable. “Talking about and sharing more stories about the success of women who took chances, made missteps and still ended up on top are vital to helping more women go after their dreams and not be so focused on seeking perfection,” said Sarah Kauss, Founder & CEO of S’Well. Mentoring relationships are a great way to swap stories and bring encouragement.
  2. Improving emotional intelligence. According to the US Senate Committee on Small Business & Entrepreneurship, “Investors ask men about opportunity and the potential for gains while women are questioned about the potential for losses.” Reframing challenges and gaining confidence can help narrow the gap. Jean Ann Larson, Chief Leadership Development Officer at UAB, gave an insightful presentation on the role of emotions in the workplace.
  3. Speaking up. “College-educated women make about 90% as much as men at age 25, but only 55% as much at age 45.” Of Momentum’s Alumni, 79% agreed or strongly agreed that Momentum had a positive influence on their attitude to negotiate in the workplace. Delphine Carter, Founder of Boulo Solutions, works every day to help women find new careers. Her advice on achieving professional goals is for women to proudly share their accomplishments in a comfortable way, allow themselves to be whomever they want and, as importantly, learn to support each other on that journey.